The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-03-29
Startling Developments in the Real ES-
tate Pool Investigation.
Secretary Robeson's Finan-
cial transactions.
Government Money Used to Garry Banking
House Through Panic.
OPPORTUNE ADVANCE OF AMILLION
The Record of Securities Held by
the Government.

Ill0 GOV6I1lII16uC.
WASHINGTON, March 49, 1876.
The House subcommittee engaged in investigating
the so-called real pool have been led by the
OF their inquiry look the transactions OF
Jay Cooke Il Co., who debtors to tho real
estate pool In making their Investigations
hey found that Jay Cooke & Co. having transactions
with Jay Cooke, McCulloch Il Co., OF London. tho
private creditors of the two houses have been embar.
rassed in procuring settlement of their claims by the
Navy Department setting up claim TO be
preferred creditor 1t was thought necessary by
the committee to discover what the
origin OF and reason fer this preference and
in tho of the inquiry the following dispatches
have to light, being obtained from the telegraph
Offices by tho committee under a subpoena duces
These dispatches held to prove that when
September 1873 great panic began, precipitated
by tho failure OF Jay Cooke & Co., Mr..
Robson be transferred the house OF Jay
Cooke, McCulloch & Co., in London 81, SOC, 900 be-
longing to the government Jay Cooke Co. closed
their doors on this side 18th OF September
general panic and CONSERVATION at set On
the 10th OF September Mr. Robson telegraphed from
Long Branch as follows
TELEGRAms.
LoSo BRANCH, Sept 16, 1873
Commodore WILLIAM REYNOLDS, Acting Secretary Of
the Navy, Washington, D. c. -
Gvc requision in favor of Jay Cooke NcCulloch
Co. for 81 ooo 900 for foreign OF pay OF
navy GEORGE NJ robson
On tho 18th the following reply was receivcd:-
NAVY DEPARTMENT
WASHINGTON, Sept. Is, 1873
Hon. GEORGE W. RoBEsoS Monmouth Brach, Long
Branch, n il
Remittance to London stopped by the Treasury
WILLIAM REYNOLDS,
Acting Secretary of tho Navy
These seem to follow, all bearing date-
NEW YORK. sept 90, 1873
To Commodore REYNOLDS, Navy Department, Wash
ington:-
Call upon the President and stand ready carry out
his wishes in regard to foreign accounts
GEORGE N. ROBSON
[Immcdiate.l
NAVY DEPARTMENT, Sept %, 1873
To Hon. GEORGE NJ RonEsoN, Fifth Avenue Hotel, New
York;
Have reported to President Nothing will be done
Bradiord's despatch to you at Long Branch.
WILLIAM REYNOLDS,
Acting Secretary OF the Navy.
Immediate
WASHINGTON Sept. %, 1873
To SECRETARY OF THE NAVY, Fifth Avenue Hotel New
York.
Just received from London -"Yours received and
fully understood Earnestly work carry out your
views By request of House there constantly. All
} Ut.
are preparing perfect balance Sheet as to enable
them to make arrangement your views. II as
sets reported-and believe they are
will show surplus outside OF private estate OF
resident partners Business continues as usual
ana public sentiment shows confidence In House.
Hope tomorrow to cable you something definite and
satisfactory. The house will cable tomorrow through
their bankers to all ports that navy drafts will be
promptly met BRADFORD.
WILLIAM REYNOLDS, Acting Secretary
Bradford is a naval paymaster.
NAVY DEPARTMENT, WASHINGTON Sept %. 1873
To Hon. GEORGE NJ robson, Long Branch n. J. -
Bradford elegrapbs: -"with Catell have had long
interview with house They show themselves solvent
If their New York securities good In this excitable
moment think they give tangible security here
immediately. They possibly arrange day or
two to protect account with securities in New York
See Mccullough, nave positive assurance commanding
my belief that navy drafts in regular course will be
paid. Feel sure any action crushing house most I'M
wise for government interest
WA REYNOLDS,
Acting Secretary.
On this comes the following, ordering the Acting
Secretary OF the Navy, Commodore Reynolds to
transfer money
LoSG BRANCH, n J., Sept 23 1873
Commodore REYNOLDS, Acting Secretary Navy, WASH
ington, d. C. -
Teegraphed you to-day to give Cutler requston for
$780, 600 Give him another for 81 600 900 in addition
Make special Go person to Secretary or Treasury
and ask him put through by telegraph act promptly
Answer to No. 20 Broadway.
GEORGE NJ robson. Secretary.
[Immediatel
WASHINGTON, Sept "a 1879
To SECRETARY or THE NAVY, 80 Broadway, New
York -
Telegram received Havo seen Secretary Treasury:
requison will be put through at once by Telegraph
WILLIAM REYNOLDS, Acting Secretary Navy.
NAVY DEPARTMENT
WASHINGTON, Sept "a, 1879
To GEORGE N. RoBEsos Pay Director G. =. Cut
Ter, 20 Broadway, New York.
acquisitions through and to credit OF Cutler
on Assistant Trcasurers books, New YORK
WILLIAM REYNOLDS,
Acting Secretary Navy.
LoSc BRANCH, Sept a. 1879
To the SECRETARY OF THE TREASURY; Washington.
d. G. -
Your telegram received; thanks for your prompt
ness Have the President last night and by his
direction I will draw for a million moro
TO morrow Please make special and credit CutIer nv