New-York tribune., 1873-04-14
A FURRY IN WALL-SE

commerce OF this city and lnueeu vi 'no "noe country
have been oppressed by those who have endeavored to
lock nm money From the comparatively trivial rate Of
"a nor cent per annum the rate has been artifciay
advanced 70 T. T. and even per cent per dem exclusive
Of the regular rate OF per cent per
nua As tho laws OF the State prohibit
| tho exacting Of more than per cent per annum,
the capitalists who have money avail themselves OF the
artificial stringenoy by Offering TO lend specified
amount per diem at 1 per cent commission" and
per cent, per annnum, interest. In cases OF this
kind the lender in order to the capitalist the
penalty Of violating laws, is obliged TO pay the
commission at the time he receives the money, and
the interest when he returns the money. This
is particularly the in wall-st., where
the stringency is heavily felt by specula-
tors who are carrying large lines OF stocks and
gold which they do not wish to sacrifice They have
been compelled to pay those usurious rates.
There some stockholders for combinations Of specu
latos the debit of whose interest accounts would create
sstonshnent the figures could be ascertained and
published.
Every day the dealers in money oongregate at the
southeast corner of Exchange-pace and Broad-st.
negotiate loans and establish tho rates. To all 1t is
point OF great interest for appears to be fixed prn
cpe the part Of brokers who act for unknown prn
cipas, to force the rate up to its very highest
AS the borrowers are greatly, in Of the
lenders, or Shylocks, they termed by the i'm
pecunious and indignant Dealers the has been
denomnated Poverty Corner" From early hour
in the day unti long after the banks supposed to
have closed their doors to the transaction Of business
borrowers at this corner endeavorng 70 effect
loans sufficiently large 10 make their bank accounts good
for the evening At times many have been obliged to
hypothecate securities their respective banks pro-
teet the latter from loss, the depositors
not having been able 10 secure the money.
Rumor has been busy with the names of many as the
active cOnspraOrs In this lookup" but IL is very
generally conceded that the real operators the per
who have heretofore had hand in similar trans
actions. their object being to depress the stock market
side capitalists such private snd incorporated bankers
and insurance companies who have seduOusly withheld
their funds from circulation until they could secure an
exobaDt rate Of interest when they evaded the usury
law by lending through brokers for commission" and
While few outside Of that peculiar locality may care
how the sringeney affects the individual operations of
large suffering by arrangement of trade
merSe % Between fty and ono hundred PeFsons ncad
officials from Wail-st. and its vicinity, have
1t has long been matter Of notoriety that certain
stock br0kng firms are on terms OF intimacy with GER
tain banks and other moneyed institutions and no mat
how tight the money market may be these brokers
always have money TO loan at high rates 1t is under
stood they % be Questioned whether M or not certain
much above the legal rates with full knowledge OF the
merely agents in the transaction, receiving lib
eral commission for so doing The bank officers Will also
be questioned as to their share in the transaction.
Areporter of THE TRIBUNE called on Saturday on
Assistant District Attorney Allen. and questioned him
relative TO the action OF the Grand jury he stated that
subpenas had been sent to number Of persons in Wall
st. and vicinity, and that the Grand Jury would enter
on searching investigation to-day but further than
this be knew nothing. The following are tie members
Forsman wham Habershav gentleman No.
William Kemp ice No. 267 West Tvsp'hird't aud No. I87 Wash
isaac H. Reed merchant No st,test HewYoti Hotel
Jacob Pussen -four, No 3 FOuhsve No. 30 Es't Twenty
: robert Campbell, No. 5Madisonave.
lGsgs S. Comstoek No. "a West POrtieth-s-
LesnieF Bueh builder No. 30 Bas Twenty-dghth-st
Alfred Lehman broker, No. u BrOadst. No 27 West Thirty
Charles D. Cops painter No. 222 Ea Tvsnourthst, No 2O
Joseph wehr,e hotel Bevdere House.
John BabeOek grocer No. zj2 West Twentsbst No IS Park
Theodore Perry, provisions No. 90 West POrynDth No 30
SAMUEL wetmor. merchant No Sc was No. IS w.veeyPnce
Richard Heather No. 100 West Thirty scOnlst No. III Broad
"" Etert Du,hnel, gentleman No. 20 charltop-ll,es.
James TsO stone No 40 West Poryht, Thrtyfouht and
GeoTgo W. CAN'T Matches l,s East Thirty ast No s5 Lib
Thomas WOODWARD merchant Nc. l3l syrst, No. 2a3
Tes K Jesup banker No 1917 Nadisonaye No SO Lbery
Alfred Sparks house furnishing goods NO. 2i1 BoSer No. V
W,Ilam Adam. h plumber No Peny.rt 34 GleeEer
william d. WsddDgOo, President No. lA Broadway Mob Eas'
Much Of the moral effect OF the movement however,
viii lost from the fact that those who nave lnsgated
be investigation and have furnished evidence In rea-
ton 80 the mOneyenders are supposed to be long OF
stocks while the alleged are kIG%n sn
the kobbing conflict between the bulls and the
" bears"
WHAT sHYLOCK SAID TO A BROKER IN NEED OF
MONEY.
IA b.pArin wast formerly journalist, responsible for he
the stock during SATURDAY and provoked great
HsSt-from those who wers not seeIi1g to borro"'l
You wants some monlshi Veil, thinks have leete
more.
y1eb viii lend you very low less than sharge pefore
peIef it vas von-ha9 per shent-but dan you know,
my son,
Der Bank of England rate vas low-so sharges-
von.
Tish very hard for to liveI cannot make him pay
By loaning out my eee pile, at vonquarter every day
Mine vriends dey tell me, "Hold him back; :" know
how brokers do.
II dey cannot get at per shent why den dey will bay
doo.
You do not kee the dwo per shenti Why dat is not
high;
oder beepss sharge Won rate dat almost makes me
cry.
must be honest TO mineself, and you will see
Cause if der srest ish very short only shaEges dree
only wants TO make enough to puy mine daily pread,
Vnd have Won pox puts in am colt und dead
So dats de reason I'm so goot and VIII not sharge you
more,
Unless you wants him very bad, und den sharge you
four.
You say der law sill takes up far shargag more dan
seven;
such ting nebber did, shure as dere's hebDen
Besides Won shudge he tells me- dat he would give per
mission
To make de seven interest and all dc rest commission.
DELAMATER.
HORACE f. CLARK ON PATTERS0NS CASE
arTyIoS PACIFIC RAILROAD COMPANY
pprgYnySTss OYYrcE NEW YORK, Marth 10, 1873.
'SFo THE HON j. W. PATTERsON-Deor SIR: Your letter
OF the 6th inst requesting me 10 state the substance OF
The interview between Mr. Oakes Ames and myself, In
which the subject matter OF your alleged interest IN
Credit Mobier stock was referred To- is received; ~
was some time during late Senatorial canvass IN new
Hampshire, hut l do not remember the precise uab.