The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-28
A YANKEE IN LOMBARD ST.
THE MAN VINO INCITED THE HERzE.
GOTINIdN REBELEION.
Remarkable Career of Erwin Davis. n sau
Francisco stock Broker - He Tumble.
Turkish Bonds, aud Astonishes John Bull,


Francisco stock Broker He Tumble.
Turkish Bonds, aud Astonishes John Bull,
nom ne san franrsco pon.
Erwin Davis, who as late ms 1856 was but
a second-rate banker Of the firm of Banks 4
DAVIS, corner OF commercial and Montgomery
cessfully crossing swords with the organization
known as the Bank Ring" then a Spectator in
mines and mining bitches, and finally petit
TONER In bankruptcy, L. now a vertlble p0ten-
tate In the London stock market, receiving peti.
tons there for favOrs from the kings Of the
Stock Exchange, who not long since succumbsd
TO- ne superior genius In the manipulation of
Turkish bonds. The history Of Davis Is one u
striking vicissitudes and tragedy.
Since bis warnings to the English public
against the Emma swindle," in the entansle'
ments OF which H. w. Park, Minister Schenck,
and other prominent men were involved, and
the favorable termination Of another scheme
which he recommended to English capital, no
man has enjoyed a larger share Ot public conf.
dence among London capitalists than does Mr.
Davis. IL was.cOnfldence In his ability that gave
him the chief management Of the " Great Pool"
OF &2OOVC,OVO VI English capital, upon which
TURKISH BONDS
were sold "short TO an enormous amount and
the whole loan OF ESQ 100000, or 7j0,00O000 was
fearfully reduced In value by the preciDitancy OF
the HerzeROyiDian insurrection.
Davis in ia Walt nm he Mediterranea f"1 some
two years since after the formation OF the great
pool, went, as John Brown went TO Vira MIA in
insurrection among the then already fevetish
Herzegovnians, bring about alarm among Eng
the bond market ~ satisfactory figures, or IA
Mr.: Davis had IT, to "llving prices"
Whether Davis was the real agent, as Is as
serted. In inspiring the Herzegovinians with
treason or not, II 10 well authenticated fact
that rebellion among this people commenced to
assume tangible and alatming forms soon after
his visit to the East. This, connected with tho
enormous moneyed interests Involved, with the
fact Of his enjoying the special aud suspicious
friendship OF the turkish Consul, IA we'll a. be-
Ing the custodian OF large sums OF money while
on his visit up the Mediterranean. together with
the well-known wish OF Davis and his friends
to create scare among holders OF Turkish
pire in blaze" Is reasonable evidence that
Davis Indirectly aided, at least, in kinding tbs
torch OF insurrectlon among the Christians OF
Herzegovina a civil disturbance which not
only caused a great tumble In the value OF
Turkish securities in the London IN rket, but
which may finally 'resut In an important change
IN the geographical jurisdiction OF the Sublime
Porte. At all events, tine great pool, y 4, well
understood, cleaned up, as the result of
THE nERZEGovINGAN WAR,
an enormous profit, which, according to the esti-
mate q some fuliy eagalleed me entire S eapth
II Is asserted, S3J,OOO,OO0
Although this was scheme from which or
binary men would recoil, Davis attempted 10
cOmprehended It's feasibility when ho learned
tue hnnncial strait of the sultan; Tue national
loan OF Turkey In 1873 amounted 70 Si5O.OOlpb.
The budget OF this period called for SljO,OOOOO
more for the two next succeeding years; fore
| shadOwing an aggregate Of SsJJOOOOJJ IN 1870.
| Tue treasury exhausted. and to meet tho
| quarterly interest on the foreign loan the Sultan
| Tesprteu To "A nSppLuttdtOn OF MS JtNtls anu
| baubles, lust as the sinking stock speculator
| pawns the bridal ring ana diamond necklace OF
| his wife when struggling on the ragged edge OF
| despair, with no hope but the letting down OF
| some hand from the clouds.
To the surprise OF Davis, the eyes Of the boat-
| ed bOudholders were closed to the financial dis
| tress Of their royal doctor. he regular quar-
terly Interest was sort OF anodyne that fatally
quieted the nerves and dulled the vision of ohm
! Blll. HypothecatiOn of crown jewels and oau-
| bles had no signiucatlon II the quarter IN IT'S
| revolution but brought the coveted Interest.
| DANia Nsa A hole he expresses him sell,
Through II in a moment He laid his plans:
| formed the "Graat PoIli' sold shOfti suus-
| died journals IN London, Paris, Berlin, ant Vi
| emma; secretly started up the Mediterranean
| VITA drafts ON the - nk OF England and sin-
| Gle COM auion, his taltAful Italian secretary,
| whose vera ocular l. al language and an did-
lect-; visited the fsverish Christian turks; and
then soon came the nIT5tnS OF men, the iorm-
ing u uAs-allou-' ana the WucA "a IeDct
armies aud now followed IN qIlci succession
CRASH II THE LoSDoN STOCK MAEREr,
a crash that awOke John Ban, Brought him
| sIH-mOlicuilY to his feet, rubbing mis- sleepy
! O1iIca aud wondering what tns matter was VITA
TIE " illrs,ci Iur"s and tue uInsted boaI
While Davis rcj3icas over hls good fortune, hc
would have thrown cro~n swels ana oaunles
| Into tha Mediterranean had lac been tue Sultan
OF ~ ir.mler, ana sot UP 1l9h alnyu<
mis- Chri~tian subjects himself, dropping inter
est ON foreign loans, as a military necessity, Tor
a term OF years Ts!hsr thah nave shown IN l'".
! puNerIslCd hand Acc rIins to very rcnDlt
letters To a connienuh Trend here, Davis must
htN" made very tIe-iy dcdi On -ht 4echue
| OF E-SptAli bonds also Wltnlh tho la,t rev
months. lie SAYS. " hay, jIst retunc from
Hnothet trip t. the LAst. nave picked inrAtY
| bones "a uotnluE Is itit. have noW been down
into Lsylt ~ lO-~ sitei Tue cA'cA-As VI 1-s
These grand coups = the bold ana s'rewd
NluAte nave 80 rniiy IS tulisnei his ftpu' ,tun
a. euteo-,iu I WInA- VI sieAt ~ "a >
! =rnrYlH- lf II.I~A stock flNt'Nt ilIf I ll TT -
euco and c,caif are almost uDuDuul. 1lt
r,t onh i. john 81 strucl. with al q r-.- f-. l
! rae cons liunl.t+ ability ana Gi4li- 10 AI-fl.. 80
esen some ut tIc very creditors who Nn
iim wilh unIelcutns uer-ecntion nci..' 90
% H..Hf