The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-10-03

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in April, nearly every banker, broker, and
operator In the street stood short Of II,
for future delivery. This time the bears
thought they were right. Some said the
price would so TO par, others to 10, but
all concurred in believing that gold would
never go up again. Three times more
gold had been sold than could be borrow.
ed for delivery.
PANIC IN LONDON.
A sound from across the Atlantic, like
"a flre.bell in the night" awoke them
suddenly from their dreams Of fortune.
A panic in LondonI But how should q
panic in London make gold go up in New
York s.
Let US explain.
All commercial transactions, It should
be remembered, are conducted, in Eng.
land, on a gold basis. When money Is
easy, and the Bank Of England has a low
rate Of discount, an active business is
often done in American securities, par.
tiCularly In railway bonds, and govern.
ments. 1t is estimated by Commissioner
Wells that one thousand millions Of the
latter are held in Europe. When the
rate Of discount by the Bank Of EnglBnd
is raised, and money becomes tight, many
of these securities are sent to the United
States to be sold, and the proceeds Of
these sales, in gold, is RENTED TO England,
diminishing in this proportion the amount
Of gold in this country.
THE STORM BREAKS.
Gold has risen to 1870, and rumors Of
commercial distress in London were al
ready iorewarning the bears Of their dan.
gerOus position, from which they saw
the only means Of relief, viz: the sales Of
gold by the government. These sales In
few days ran up TO $S0,000,0O0. The
Government agent was beset by those
who were short Of gold. He was waited
for, button.holed, and his coat tails were
almost torn of by the eager buyers, when
he entered the gold room. Still the price
stood firm. Late in May the storm broke.
The arrival Of the Cuba brought the news
Of the greatest financial panic which ever
occurred in England. The Government
stopped selling, and gold jumped up 10
40. Erie certificates and Government
bonds came pouring In by every steamer,
and every outgoing steamer carried
MILLIONS OF GOLD.
In six weeks more than $4O,OOO,OOO had
been sent out Of the country. On the 9th
Of June the price stood at 1850. One oil
the largest holders Of gold at 1870 was the
firm OF NJ s D., and this house
was almost the only prominent one which
Dulled gold heavily. Their profits there
after the arrival Of the Cuba could be
counted by the million. Many a shrewd
merchant and operator found himself
during the rise bound hand and foot. ].
NJ. T, the great speculator, was caught
short OF a million or 30, which he bout ht
in at something over 1850. This same in.
dividual then bought largely, and sold
100000 Of his purchases TO the noted
merchant, II. B. G., at 1850 As for
the smaller tribe OF operators, the field
was Strewn with their financial corpses
PATIENCE ON A MONUMENT.
This "spirt" in gold, it should DO noted,
arose purely from commercial causes.
How Jared It with our heroine, mean.
whilc2 She "sat like patience on mon.
ument" Of short gold. When 1t touched
100, she descended from her pedestal, and
gazing with fearless eyes upon her losses
$50, 000), then proceeded coolly to gather
up the wreck, and reconstruct the edi6ce.
Who will say, after hearing the story OF
Miss Nj, that women cannot specu.
lateP
A largo number OF the stock accounts,
standing in the name OF women, on the
books Of the brokers, represent
TIE WIVES OF STOCK OPERATORS,
who have settled upon them by their hus.
bands, after some lucky hit, large sum
against wet and dark day, which Is al.
most sure to come in the career OF q
speculator. AS already noted, the wife Of
the heavy stock operator is quite certain
to be provided for, and when her husband
loses his. all, he can fall back on his wife's
money, and renew bis fortune. Most OF
the women who speculate in stocks, con.
duct their speculations in the names Of
male friends and relatives. Hence. 1t
comes that they very often make money,
for what broker would be so ungallant
NdllN ull GAOhSlo aLV baIlhul W IuG IalL
sex). as to suffer a lady 10 lose money in
his office. Sometimes the broker or oper-
ator in whose name these accounts stand,
puts his shoulder under the load, when q
panic occurs, and saves his lady customer
at all hazards. Sometimes he introduces
her to
A MAGIC RING,
and she speedily becomes the bride Of for.
tune. When her margin Is exhausted
she may be said TO travel on margin oil
beauty, grace and smiles, which, with a
skilful tear now and then dropped, quick.
ly subdue the hyenas Of the street, and
supply her with tho Enews Of war on
Change.
A few days since two fair young girls
evidently from some inland city, accom-
panied by an elderly gentleman, stood
gazing into the back windows Of the
Long Room, upon the dark turbulent
crowd withIn-cherubS gazing on Pande-
monium. Ten, twenty, thirty minutes
they stood there, as II fascinated by the
strange scene. u don't see why yor
won't buy some Rock Island for me
papa. James sand I could make some
money Il you only would" remarked the
elder OF the two as they walked away
Thus