The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-08-25
CORNELIUS SHAME.
His Connection with the "Blind Peoi"-
What Conkiing and His Patron Jay Gould
CharGe-The Disreputablc Character OF n
Queer Transaction By New Works Republic.
can Governor Made Clear.


Nov York journal Of Commerce, 24th instant.
Our readers cannot have failed 10 see the
charges which have been banded back and
forth between two factions OF the Republic
can party during the last few DAYS, involy-
inc certain transactions In stocks. The
friends OF Governor Cornell charge Sem
stor Conkling. or his patron Mr.. Jaw
could or both, with trying to bride his
TXccllency the Governor Of this state TO
sign the hin releasing certain taxes to the
Elevated Railroad Company. And Mr..
Gould, Mr.. Russell Sage, and other promi-
ncni gentlemen agree in charging the Gov
ernor in turn with having formed, in connec-
tion with themselves and with their assist
ancc. what i called ga blind pool. "for the
rurpose az specializing in certain stock
and sharing the profits thereby made out
al the public.
The rank and file Of the dominant party
would be glad 10 see their corrupt leaders
drihroncd and their places filled by purer
men. but they are powerless TO effect this
result. The present attitude Of the honest
and independent portion Of the Republ-
cans in PENNSYLVANIA shows the hopeless
ness Of struggle against the machine in
the effort 70 reform the leadership Of the
marty hy the unaidcd efforts of its own
parii>anS. Whether the corruption will
end in total rottcnncSS, decay, and disinte-
grafton, or will Ice arrested by union OF
independent voters 10 put in new admin
i,,raiion before that disastrous consumma-
zion. is question Yet 10 lie solved.
But the relation Of these recent develop
ucnt. 10 that question is not the point of
the present discussion. 1t is the mere
commercial aspect Of the transactions to
which We desire to call the attention OF our
readers. The railroad bill was put forward
and the legislation was urged by argument.
and the expenditure. it j. said. OF at least
100000 in money, merely in the interest
al s,ock-iohber,
And 1.-THE blind pool " gives Us IN in
sight into the methods 10y which the stock
market i Affected in the interest Of the
stock gamblers for the sole purpose OF
fleeing such Of the public as can he in
duced 10 pily at the treacherous game.
The American District Telegraph Com
uany was q concern that could be safely
used a. a plaything. The stock was sell
ing. we viii say, at Sl5 per share. par
value S25; this. in the ordinary quotation,
would be 90 in the stick list. Governor
Cornell was leading director, and he I'M
derto0l1 the manipulation and GOT up the
POOL. The names and means Of leading
stock-brokcr, and men Of wealth were not
wanting 10 make the scheme effective.
Mr.. JAY Gould put in $1,000; Mr.. Rus
sell SAGE. $4,000: Mr.. Dillon, $1,000, and
80 on until a large sum Was raised. The
Governors >on. without any capital or
credit. lent his name q, security for S3o.OOo,
sad the president Of the American District
Telegraph Company discounted the note
with the company'> own funds and the
Governor added this to The pile. The bird
~ be- slain thus furnished a feather from
Il, own wing for the fatal arrow. All the
"Iriend>" of the parties were then coached
70 buy the stock. Were not Gould, sage,
and other shrcWd operators interested
Yes. 1t will surely 20 NJ. and they all
"tke a turn" The price goes up to So
and between - and the highest point the
pool lmloads. and the Governor sells snort
all the stock he can induce the flats to nuy.
The gamblers have ma 3. what they can
o., tine rise. Now they ia i,t render the
stock comparatively worthless 80 a. to
realize on their short interest and make
still more on the fall. 80 they organize a.
q rival the Mutual District Telegraph Com
p3nv. with the old general manager ol
Governor CorncrS other company as lht
chief executive officer. and the stock OF the
American District Telegraph Compan!
drop, to 5j. and the operators gather IL
their harvest.
We do not v0uch for the truth Of al
these details, but the main features OF th'
story are proved beyond reasonable dount
and il i probable that the particulars. /
they could be fully aSccrtalned, would ID
even more discreditable to the gamblers
than the narrative rs it now STANDS on Ut
record. We have nothing, in TINS cOhhec
zion. 10 say AGAINST the distinguished par
liz, who lent their money and influence e
render successful this raid upon me puDnc
II +, evident from the cool, oii-hahd man
ner i'm which they speak Of the opefat..I,l
that il i one ii daily occurrence, anu l''n
represents their methods 81 business.
We wish simply To address ourselves L
the flats VINO have thus depicted 'i'eii "N,
nocLets for the benefit OF these sharl
Ill. and 70 ask them il il is not abou
time that they protitcd somewhat ID! SUI
co-;ly cXperien5e: Why dolpersons VII
3 little money. and endowed with spar
o. common sense, engage uPo
any term, IN this game with 81, sue
adrojt and unscrUpulou> players: 4he
have far more chance 10 NAH
money n a faro.table. with knaye Dehln
n onicg-pockct on the right OF them. ana
skinner on the left. They are toiu lii'l
stocE i likely to rise; they are gwen =
point" by some distinguished operator C
they buy in somebody's shorts sure thS' III,
can corner him. What simple-heartGd gan ~
bler-. to bc sure. They are btI tne sii
victim, Of "a blind pool" and as cer'al
10 hoe skinned before they get out Oh II ~ !
eel is before he is cooked. Our rea9 ,.
know that thi. is not our nIst W''Illii
For 1y vars e'r we have kept the true charact'
Of this zane before the public, and maI
have acknowledged that our eXpoSuff
have saved them from ruin. 1t Is lar sal
10 sit down to play with n0leu gaiI ,o@S,
whoha- revolver in his pocket ana loau'
dice In nj, sleeve, than to be drawn III
the .tock market against Governor Corn'
q Co, with their high character, sle'
wavs, and little blind pools. This j. l
moral OF the story in its commerciai aspe'
BuIl.Figbting ian France.