The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-11-05
ASPECULATOR'S STORY,
EXpERlENoE VIII THE RALpWlNs.
In Which Is Is Related HST The Cashier Of
the Broken 'H'shSRia BHak Hsy Have
Dealt Qulstly With he Balls Aad
Bears " Wall Street.

NEW 1ORk, November 3.-Among the
many stories told about the possible ways
in which the Cashier Of the Newark bank
may have lost the great sum Of money in
his care, is the following circumstantial
one from u stock broker He says tIn
1875 was 4 speculator in the street. /
had certain information, and was making
money, although ! did not have much
capital. In the fall Of 1875, Mr.. Enos
Runyon, Of Martin & Runyon, suggested
that l could make more II was associated
with somebody, He hinted that he knew
a wealthy young man who would make
0 good partner, ! thought well OF
the suggestion, and, in accordance with
tho agreement, made the acquaintance,
through Mr., Rnnyon, in Pine street res.
taurant, Of Theodore F. Baldwin, who il
now prominent as the brother OF Oscar l..
Baldwin, the deiaulter, Mr.. Runyon said
that Mr.. Baldwin had speculated, but had
been unfortunate, He therefore suggested
that, for the interest Of both OF lis, we
should enter into an agreement TO specu.
late, The firm had information that had
points in regard to manipulation OF stocks,
and they considered it valuable and that
] was q desirable man in speCulations.
Mr. Baldwin was to furnish the money
and ] was to furnish the information.
We talked over the matter some time,
and at length we agreed to do as
Mr., Runyon had suggested. The result Of
that meeting was that the order Of Baldwin
was 70 furnish the money to. deal in four
hundred shares ofstock for me, in consider
alton Of the information that ! should give,
Martin 4 Runyon were to be the brokers.
Mr. Baldwin was also TO deal for himselfin
as much more stock Qs he saw fit In nd.
dition, was to have $26 a week for ex.
penses and time. On this agreement we
began our transactions. The account was
kept in the name Of Theodore i. Baldwin.
My name did not appear. AT that time |
did not know that Baldwin was paving
teller In the Mechanics National Rank OF
Newark. IsuppOsed tliathe was one Of Run.
yOn's wealthy customers, But after we were
better acquainted | learned that he was Mr..
munyon's cousin and paying teller. We
met frequently, sometimes in New York
and sometimes in Newark. have sat
with Theodore +. Baldwin In tho bank OF.
fee in Newark until 10 or IL o'clock ut
night fixing plans for the future. We were
not fixing up the taking OF money from the
bank. We were ahead In our spcculations
at that time, and We were Arranging what
we would do In clse the market turIfed,
At one time We had a profit Of $l20,OOO
and at one time Baldwin had 100000 up
on margins. The speculations continued
for some time, each keeping to the agree.
ment. One day we were talking together
on Market street, Newark, when Baldwin
said that his entire losses, which he
had suffered previous to our agree.
ment, amounted to $4,000. | then re.
marked that II would be better to put the
united profits into one bag until those
prior losses could be made up. Bald.
win agreed to this, and Caleb Crotchet,
who was with us, heard the agreement
That was the 10th Of April, 1876. II was
agreed that over and above these losses /
was to have one.half OF the profit until my
share amounted to S50,0O0 was willing
to do that because according to Baldwin's
statement, we had at one time $4,000
profit, and were making money right
along. 1took good many OF the orders
from Baldwin to the brokers, and In q gen.
eral sort Of q way | knew how the account
ought to stand, but l never had any state
ment OF account Baldwin got all,
because the account was kept in his
name. Our, transactions varied from
1000 to $4,000 shares Of stock. The
account ran along until about the middle
OF the following summer, when Baldwin
closed II, threw me out and took in Caleb
Crockett. Where did Baldwin and Crock.
ct get their moneytor speculating? Theo-
dore could not take 100000 out Of the Me-
chanics bank for margins without the
knowledge Of Oscar. From what | know
/ believe that Theodore has been only
In the speCulations OF Oscar.
After Baldwin closed the account In which
! was interested tried to get statement
my share OF tll6 profits. Mr..
Runyon refused To give me statement,
and at one time said TINT he would rather
burn his books than show inc how they
stood. firmly believe that they showed
that my share Of the profits wis $4,000
but could not get any satisfaction
from anybody. tried to get hold of Bald.
win, but he did not come TO New York.
made complaint against him and tried to
get 1t served,sbut by soneschene, II failed.
AT length got judgment agninst Bald !
win, in Trenton, for $4,000, and II is on
the record now. That was in 1870. Bald. !
win fought II, and, by another scheme, he
got the judgment opened. Then saw that
| was fighting big power for Oscar took |
part, and at length concluded to settle |