The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-02-04
CONSPIRACY yLoUIsI1NI srcuRIrrrs.
The Ring from 100000 TO 81 700. 900 short
on Consois sold ut o. and ~.

WASHINGTON, Feb. 3.-,Just before Kel-
loggs departure from New Orleans for Wash
ington. Packard and few others OF that gang
conspired with a number OF brokers on the New
Orleans Exchange to make n raid on n class Of
securities known as the State Consolidated
Loan of Louisiana, being new issue OF the
bonds of the State. authorized by the late Kellogg
Legislature to fund all classes OF tho State in
dcbtedncss. The programme Of this conspiracy
was 20 sell tho consols short both in New Or
leans and New York. contracts TO close from the
sth to the 18th of February The theory Of the
conspirators was that the row over the electoral
vote OF the State would have a tendency to rem
der the consolidated loan shaky. and make it
easily susceptible of being hammered down
by wcl-planncd raid. Part Of Kcllogg's
mission 70 the North was to secure the rccogni-
ton OF the Ia ktrd Government but the most
important part vi 1t was financial rather than
political.
II seems that up to date the hopes ~ tho con-
Spirators in regard to the depression Of tho
loan 10y the political troubles OF Louisiana have
not been realized. and within the last two or
three days. since the astounding dcvcl-
opmcnts concerning the Returning Board came
out, and particularly since the Presidents
refusal to recoEnize the Packard Government.
together with the publ cation OF the probability
that he would ultimately recognize the Nichols
s G2,yernmn,nt. ,rihhse consols have materially
stiHencd up This places the short Ring in Il
move both in New York and New Orleans. early
y.
their trap and close out their shorts. The fol-
lowing telegram was received here in cipher:
d, n VIVIAN r.u., N Sss 2s H.. F TsS is71
h bs'i n sN'ynys s,lie advent Jun oark solitary
coserrsr CLARK.
The translation Of this despatch is as follows:
s,s,e bonds censos steady a. sixty hye with other
confirm Tie sale. Has Packard SILL any chancei
cossrlsr CLARK.
The Ring is supposed 10 be from $4,000 to
$40 oe short on consols sold at from q 10 Is.
Contracts closing from the sih to the 18th inst
The intention Is to mike raid simultaneously
in New York aud New Orleans by raising u
loan by pleading want Of legality IN
the, Legislature which passed tho bill
ana in the Goyernor who signed IL
Kellogg. Packard 4 Co.. 10 the effect that Il il
the intention Of the Nichols, Goycrnment, in
loan. or at least, 10 allow the interest 10 default
and TO contest its validity in the courts. 1t is
also the intention Of these conspirators
York steeS Board p0fh That upon cdncdcNHa%s
Ring in Louisiana Inns bought up what are
nominal prices. and that the first act OF the
Nichols Legislature Will he b. fund those bonds
Wmlsf mia hSye Gn yre EnndEate n fer some
the indchte in"ss Of Louisiana would be- in
creased several millions and the value Of tho
securities already on the market materially de-
THIS, n brief ia tho history Of the conspiracy
70 which the cipher telegram from Clark to
Kellogg affords 4 key. or course. after this
publication 1t will be impossible for the Ring to
Board in New York. This cons PIRACY has only
recently como 20 tho knowledge OF the LOUIS
lana Domo'ratS. AMI they are taking an pos
sible precautions to head il IN. II s not the
Intention OF the Nichols Government or Loeis-
lature 10 interfere with tho present financial
arrangements Of Louisiana, except in 50 lar ns
II may bee necessary 70 make further aud more
adequate provision for the payment OF the IN
tcrest On all Just and lawful debts Of the state.