Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-11-26
sAy GOULD's CORNER.
The n eyest Scare in Wall Street
ince Black Friday.
Daniel IA v Goes Up for Millions,
Taretl,A with Several Other
DIstiA ryished Victims.

/ T0Retii.k Wtsn oo'chhh oehoA
DistiA Nishod Victims
A LivelA Vine Ahead.
rhe T,.,.. vthe Corner.
NK~ yopg No. f--The Times hs
.hs foIIow,nn TmA, ,hoU = oV ~, softhwest corne
During the SorDin % , am q the early pai
Of The day G VIM. Welt TrsSers H versd bis shOrti
,.sy.-c, (. ......,,. az v" s..ss:c:.cc:; e
Charley Lamont stood up I'd ss,,ns ~ Is@ - nss, -.
! AID r==..5 ~ aiEe-creer an:A sa,hg 70 heal
ly the slme sum. These cd a,ts. oi
settled on the basis ~ $50. \ S.9 hlene'
es'imate OF The amount Of a W. ~
EGpAal Drew Is shcrt Is "a 3o0A res, an
the lcweot 1900. Should be sd - 80 - ~ y
upon the closing price OF NorthwSA vi, :. =
win lose nearly S2,500,000. Comm.
NOR said that Henry ". Smith was. ~ ~
10000 shares, which will involve hlrih -.
greater extent than Dshiel Drew. y
opinion WAS freely expressed on the strS /,
that he would not pay bis losses In fill, bi
let the brokers stand the brUnt u the con,
tracts.
Jses. 'souid Caught Danioi Drew.
1t Is said that Drew was caught In the
trap b. device OF Gould's which was ih-
genious in It's way. Gould went TO Drew,
few weeks ago, and suggested the posi-.
bility Of 'slngelng" the street on Erie, In
which Transaction the latter was 10 appear
as bull. Drew Joined In with the idea
and went 10 work secretly 10 buy up large
blocks Of Erie, locking them up IN safes as
they were purchased. The stock In this
market was snnn Gnbhleh nm and an = eoF-
sequence the price of Erie began TO advance.
Gould also bought Erie largely at low fig
ures on the start. but Abstainea r.om pur-
chasing any when IL began 10 advance.
The stock rose 10 bei, and Gould unlOaded
bis entire interest upon Drew, thereby net
ting a considerable profit. Drew, Ignorant
of the Lad faith OF his ally, and wondering
81 the large quantities Of Erie stock which
continued TO flow In as he kept on plEch,s-
ing, went IL alone, aud was u. Elslng fair pro-
greSs III bulling the market on his own &C.
ccdnt when Gould tarned card. In some
say he became acquainted with the fact
that Horace 4. Clark, Augustus Schell. and
the Vanderbilt party generally were endeav-
| 0ring to Obtain control OF the Chicago and
Northwestern stock, In order TO get tine
road in their own hands and supply miss
ing link in the great railroad chain to the
West. he thereupon formed coalition
with the Northwestern clique, and 11ilg TO
Drew, whS still supposed he was helping
| him TO bull Erie, suggested that as blind
to tber real operations II would be good
plan 70 "go short" on Northwestern, and
| thereby throw the street of the scent.
Drew! relying upoa the ju2Rmcn; pf lis
"q-o.o..I" associate In Erie, acquiesced in
this arrangement, merely saying that she
guessed it was safe to GO short on Nor'west,
and it might tickle the e9ys 70 specktate In
somethin new" HIS brokers SLa1ated hij
orders, and his design was accomplished.
The attention Of Drew became absorhe,
in the cuteness Of the Erie bIlI nnYeLsent,
end while ee Ias wG,Cbi'-. exc l.s2 oT .:S
-'Gs< "a E1aia '..tlia- 1t,sntinn 70 Northsgst-
eTR. Gould found that Drew was trapped,
and kept away, occupying bis leisure mo
mani. = e-.i-aa zl. - - ... ~ E...,y sIi,, I.s
Drew, speaking to Times reporter ard still
entertaining some hopes If decline Ia
Northwest, remarked, jOoUlarIy, 81 hear
Nor Invest Is rising" Yesterday, az tha
close OF tne Exchange, when Northwest
reached go, the remark was made to
Drew, Northwestern is rising" "Rising!"
responded Drew, Es-isingi why, us risSsli.'
Drew, realizing the perhdy Of Godld fully
yesterday, sold ous the Erie stock %hieh be
bought to "skir" the street, and, il is SUD-
posed, viii use the proceeds to settle up
with the successful parties. he also un-
loaded large amount of Wabash and va
rious other stocks. Il is expected that he
will settle Oh Monday.
Bxcitemens sRture.y.
At the Fifth Avenue Hotei, last night,
there was considerable excitement among
bankers, merchants and brokers, caused b;
various reports which were circulated rela-
tive to q second arrest of Gould. and its
connection with the Chicago AID North
western corner. The story, as i gained
circulation, vas, that the Erie Company
had determined TO arrest Gould again, that
he might be held in greater bail than one
million. Tbs was contradicted in the vari-
GUS quarters; but there seemed to be no
adequate grounds, either for the assertion
or denial. Watson, President of the Erie
Company, stated that il was his intenton
to have this bail made large enough to in
some way guard against Gncid's running
away, but that was bis onl" object and
totally in disconnection with C.,e 81 ock Job
bing. Watson ehougbt that one million dol
lars was sufficient bail for the present, al
though he deprecated the custom Of di.nin-
ishing bail in proportion as defalcation in
creases. There IS much interest manifested
concerning the events of tomorrow in Wall
street, aud anxiety in regard - the course
of The market is int9nss.
Ws.;.. :.ss warid says.
The Forld says: awe are greatly mis-
tsRen ia the character of G. Watson If,
having once grapplod with this c.yhg curse
of our country in the person Of one Of its
most notorious representatives, he does not
keep his hold with bull dog tenacity unit Il
ha has brought his quarry to the EARTH"
Travers Not Caught.
w. r. Travers, in a card to the Herald,
denies having any interest IA any "put or
'pool' with Drew, Smith and otherO, In
Northwestern.
Erie S.4es Drew.
A suit has keen instituted by the Erie
Pallway company against Dan1. Drew to
recover $1,000, 900 alleged to have been EN-.
bezzled by him when treasurer Of the COM
psny in 1868, by the sale Of $4,000 shares
Of watered stock.
Yesterdays Developments.
NEW YORK, Nov. 2j.--This afternoon
there was all order sent into the Stock
Board to buy 1000 shares in Northwern for
accoun. Of Drake Bros. by Garland, Martin
& Co. Mr.. Drake claims not TO be reapon
sible, as be only cleared tia stock for II. n.
Smith, who had borrowed the stock from
Garland, Martin & Co., upon which he paid
60. Joslyn, Bache q Co sent their check
Cor the full amount for account Of Smith TO
Drake Bros, and they Drake Bros.) paid
Garland, Martin & Co. with their ss.sek for
the same amount, thrs only clearing the
stock for 10th parties.
It was expected on tho street to-day that
Jay Gould would be rearrested at the suit
Of the Erie Directors, but no movement
against him has yet trsnspired. Judge
Foucher to-day, on application of T. g.
Sherman, served an order against the Erie
ID ii .rl.rl l.. e