The New York herald., 1877-02-11
WALL STREET TRICKS,
Battledoor and Shuttlecock in
Wall Street.
WESTERN UNION THE PRIZE,
Inside History Of the Great
Pool.


favor in America nevertheless the bulls and bears OF
wall street are very fond OF nghting and batting each
ether and IL often happens that the bulls combine 10
worry the poor bears, in return for which the bears
occasionally unite and annihate the bulls Very re-
Gently, in fact now, pool has been made IN 'ha'
famous stock, Western Union, the waters OF which
have very different qualities IRON those OF the pool OF
Bethesda or the pool OF SLOAN. This famous ransac
ton, which surpasses in magnitude any pool that mas
ever been heretofore attempted in this stock has been
broken up by the withdrawal OF one OF the MEMBERS
aud tho consequent Modification OF oil OF the plans
Tho fr inside history this pool Is Interesting and
instructive showing how the stock gamblers operate
20 fleece each other.
THE BEGINNING.
Tho first pool formed some time ago in western
Union stock under management oil Trenor '" farS,
was not as successful as was hoped, the members be-
ing dissatisfied with slow and cautious management
Of Mr. Park and it was closed up with profit OF
s35 900 on operation involving 900 shares
LARGE pool was 1t is said, then organized by Samuel NJ
Mills Tor l2o 600 shares Mr. Mills. IS SAID was at
shat time Of the described confidential brokers
OF Jay Could and knew exactly how the latter stood in
regard 10 Western Union stock II is also alleged that
he organized the pool force Mr. Gould to cover his
shorts al a heavy loss The members OF the pool, who
were said 10 be jameson, Smith Cutting, Charles s.
Osborn, Frank Work, Harrison Durkec, Russell Sage
Joseph Harker, d. Y. Morgan, D. O. Mills President
OF the Bank of California the successor OF tho late Mr.
Raiston and director Of the Western Union Telegraph
Company; James r. Keene, director OF tho
Bank OF California. william Orton and Rufus Hatch.
bought 600 shares Of this stock at an average
cost OF about 76H.
SUSPICIOUS AROUSED.
For some reason tho suspicious Of Mr. Gould were
awakened and no applied 10 Samuel NJ. Mills for In
hu, totd hat
Stock and was advised by Mr. Mills to continue his
short sales; Could, continuing suspicious Of foul
play covered large amount Of his stock at heavy
loss Mr. James r. Keenc' who Is a wealthy Cali
fornan, was induced hy Mr Boocock, OF Boocock q
Co.. TO JOIN the pool on his being assured that Mr. d.
o. Mills was In the pool for TO- 600 shares. This Mr.
Mills and Mr.. Kcene being both connected with tho
Bank OF CALIFORNIA; and Mr.. Mills being director in
the estorn Union Company Mr.. Recue consented to
lake 5000 shares in the pool but at the same time
dscIaimcd any hostility to any one II Is now charged
aud believed that Mr. Mills Samuel NJ and his asso
riatcs bought stock cheap and then rcsold IL to
ioarco and Il is also reported that Mr. Keeno
becoming satisfied that there was fraud ana
conspiracy determined TO withdraw from the pool,
and pcaccable dissolution OF tho
same He led to this determination By the TACT
that he not abo TO obtain any satisfactory nor-
nation reports as TO what the pool was dong.
Keene then charged Mills with his treachery 10 his
client Jay Gouds and Mills admitted the charge, upon
GnueavOrcu
between Gould and Mlls to prevent any expose
and scandal that would inevitably resun II the matter
should proceed as lar as htigaton NILS agreed 70 90
whatever might be deemed honorable in the matter,
but detected the very next day ny Gould IN new
conspiracy upon which Gould refused any and all
negotiations looking toward compromise keene
meanwh he fearing a heavy loss from his interest," in
The pool determined TO take legal measures 10 wind 1t
~. and yesterday he served written notice on tho
mcmbcrs OF the pool forbidding them from buying,
selling or trading any OF the stock for his
bul
legal proceedings and obtain an Injunction
TO dissolve the coparncrshp OF tho pool ana demand
an accounting aud a winding up Of the transaction.
This viii necessarily examination Of the
books OF the different brokers who have been mixed
up in the BUSINESS and 1t is expected that some very
Interesting revelations will be made. revelations
which Will show the tender regard that these great
money kings have for each other, and give the public
ins ght mo some OF the modes in which the bulls
and bears worry and bait each other II IS also said
tnat Gould IS to take legal measures 10 expose the
fraud aud Conspiracy OF his confidential broker Mills
as well the other members OF the pool. During the
past week the stock has taken lively turn. Keane,
seeming DANGER had let largo amount Of his outside
stock slip and it bought by the pool Thus
stands the case at present 1t is thought somewhat
strange on the street the OF Raston
tho presidency OF the Bank of California should be
hero this market operating so largely with one Of
the eading directors OF that bank. The tate OF Rail
ston Is not forgotten, and the query arises as to what
this may tend.
Three OF the gentlemen who are said to be among
the principal members OF this combination utterly
and emphaticaily deny that any pool exists or has
William Orion. Mr. Sage told HERALD reporter yes
terdhy that, In his opinion, there was no pool, and
that any dealings which were had through Mills
Samuel ny B0ocock had been tho private dealings
OF individuals, without reference to any combination.
Mr. Kecne, who Is known as the ''wealthy Caliiorn-
ian" had, in his opniou been cndeavoriug to operate
here In stocks against who thoroughly knew tho
'strect' and its ways, and had evidently not come
out OF II as we'll as he expected Mr.. Sage had him.
self given an order broker for 5000 shares but
not rnber OF pool, but in his own individual
~ fhora wcrp nj url dpa n
stock he believed them TO have been only OF the same
nature his
stated that there no pool, that he had not been
engaged any Tor two years past, and that he ot
present was bung Western Union He had heard a
number OF rumors concerning legal measures TO be
taken with reference supposed pool, and had
his own name published as Dcing one oil poo in
Western Union but had had no papers OF any nature
served on him. Mr. Hatch grew somewhat sarcastic
the matter, and said that II he was IN pool and
legal papers 10 bo served ho did not think IL far
that he should have been lett out. Resuming the
SERIOUS mood Mr. Hatch said that ne knew absolutely
nothing about The MATER except what he had seen
printed, and had heard through common report
Mr.. orion seen IN his Office IN the western Union
building. He. TOO, denied any connection with the
pool or that any such pool existed Ilc said that he
did not even know either Samuel NJ Mills or james
H. Kccne by sight aud had never bad any deal
ings with either OF them. He knew d. o. Mills. who
was director he Western Union Company, aud knew
that he had had no such connection with any pool
Mr. ORION said that IL often Happened number of
gentlemen got together informally and agreed that n
certain stock had gone low enough, and then gave
orders TO their brokers TO buy accrtan quantity and
II may have been that the gentlemen named had had
Iuch informal meeting and agreed 10 buy certain
number OF shares OF Western Union stock and
trusted that business to Mills; but he certain
that there pool and the matter simply de-
pended on each ones individual honor.
Neither OF the three gentlemen mentioned the name
OF Mr. Jaw Gould In their conversation. That trans
action involving large amount 100 600 shares
OF Western Union stock should not have been
known 10 the President OF the company seems TO be
passing strange, and II Is equally strange that the
zane should DO unknown TO either Of the other two
gentlemen, who well known to be large stock
operators When the suits which will undoubtedly fol-
low this transaction 70 be pressed, IL will be re-
vealed how much of this ignorance Is assumed and
how much genuine. The information in this article
derived from trustworthy source and capable OF
vcriGcaton.
SURPRISED BURGLARS.