Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1882-08-28
Aanraster fntelNQencer.
MONDAY EVENING, AUG. 2e. 1851.
Cornell and the Blind Pool.

IL ~ u VI VIC IllSSt WHICH, AOtSuCO ASAu OuV
honest men get their dues there is a good
chance that the honest people of New
York will profit over the fight between
Jay Gould and Governor Cornell, which
has already produced some interesting
developments Of the evil performance of
these notorious, if not distinguished,
men, and illustrated their characters in
a way which is probably not new to those
who know Gov. Cornell and is certainly
not surprising to those who know Gould.
The governor opened the public exhibi-
tion a few days ago by an inspired pub
lication in the Albany Journal, charging
that the hostility of Gould and Conkling
to his denomination arose from his re.
fusal to prostitute his Office of governor
to their use by approving certain i'm.
proper legislation in which they were in
terested-Gould as principal and Conk-
ling as his attorney. The latter, since
he has gone out of the Senate and
measurably out of politics, is devoting
himself to money making by the prac-
tice of his profession. Gould has re.
tained his services probably as much for
his political influence as for his profess
siOnal weight. In fact, Gould says that
in these matters to which the governor
refers, he was induced to employ Conk-
ling through representations which the
governor caused to be made to him to
the effect that it would be to his in
terest to have Conkling put in charge of
them. But Gould's word is of no value at
all, and il there was nothing else in the
case against the governor he would be
greatly benefited before the people by
the fact that Gould is inimical to him.
In fact this is his strength, and he seems
disposed to rely upon it and inclined to
take little notice of the charges Gould
makes against his integrity. But
Gould does not stand alone as his &C
cuser. Other and more reliable wit
nesses appear in goodly numbers to hold
the governor up to public animadversion.
What he is accused of is that while he
was treasurer of the American District
Telegraph company, in which he held
a controlling interest, and before his
nomination for governor, he engineered
a scheme to make money by the manip-
ulation of that stock, by first buy
ing its shares i'm conjunction with
Gould and other capitalists who
Joined with him in "blind pool
for the purpose at his suggestion. The
money he used he borrowed from the
treasury of the company. When the
purchases Of the pool had been made the
stock was advanced by the public dis.
closure of the fact that these strong
financial men were heavily interested in
it. When the lambs had been brought
into the proper frame of mind TO pur-
chase the stock at high figures it was
unloaded upon them. When Cornell had
sold out he started an opposition tele-
graph company to depress the stock Of
the American that he might buy it in
again. These operations were conduct
ed very much to his profit, but his CON-
panions in the pool allege that he did not
keep faith with them and they seemed to
have been fieeced along with the lambs.
Gould says that no account hase been
made by Cornell to his associates of the
operations of the pool. This last feature
in the business is not, however, the one
that the public feel much interest
i'm. It will not hurt Cornell
for it to be understood that Gould COM
plains that he did not keep faith with
him, for Gould himself notoriously keeps
faith with nobody, and it would only be
a case of the bitter being bit. What will
ruin Cornell publically will he the belief
that he is q highwayman Of the Gould
class, who has deliberately schemed to
raise and depress the stock of a acompany
of which he was an officer, for the pur-
pose of filling his pockets with the
profits of the operation. This is an old
game among the Wall street tfrec.booters
and with the trusted officers of corpora
tions great and small. 1t is not conduct
which has ever served to send a man to
Jail, however much it should do So ; nor
does it rob him of strength and position
among thieves who prosper by like prac-
tices. But it is not conduct which can
safely he INDUCED in by All ambitious
politician when the people get their eyes
open to it, and he comes before them for
judgment and approval. at least, ONE
would think that such allegations as
these against Gov. Cornell, if believed,
should suffice to prevent his renomina-
tion for governor Of New York. Yet it
is certainly true that other men before
him, and many of them in these days,
have not been politically slain, even
though their regulations for financial
honesty were seriously compromised.
Garfield, for instance, was charged upon
very strong evidence with dishonesty,
and yet was elected president in face of
it. And there is John Sherman holding
his head up in the United States Senate,
though every one believes that he
amassed his large wealth through the
prostitution Of his position as secretary
Of-the treasury. The people seem very
callous often to such charges against
candidates for Office. 1t must be that
they don't believe them. Many of them
certainly would refuse to vote for thief
if they believed he was such. The diff
Guilty is that they don't want to believe
it, and won't, of their favorite poll
ticians. Probably the Half Breed fac
finn of fhe Rennhlican narfv do ha1;avo