The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-08-24
TELEGRAPHIC
rPE CORNELL QUARRELL
Getting as the True Inward.
meas of the Affair.

Chicago. pa special from New
York says the excitement 10 political
circles over the so called revelations. "
concerning Governor Cernell's stick ope-
rstions, continues. aud the newspapers,
especially the Herald, are dong all they
can to exaggerste The matter Governor
Cornell wss ali officer of the A. D. T.
Company, and according TO a statement
took advantage of his position to form q
"blind pool" for the disposal of a large
holding Of stock. Governor cornell wss
not alone IN the scheme. hsvirR asso-
cialed with himself such men ss Gould.
sage, Sidney Di Ion. Galloway and
others who largely control the stock
mar ket, and can influence stock either
way they desire. These men we're TO be-
come responsible for the stock and share
the profits OF such sales as Cornell might
make. He having control OF the STAIR, il
had become necessary to N ke the sale
Of A. ID. 7, stock, sc q new company
was beirg organized, and the stock oil
the old one WAS likely to decline in price
in consequence; therefore how to get rid
Of the old stock at 3 fair profit was the
question. Governor O Tnell organized
a "bliDd pool, III is stated and capitalist
who Of course were prompted to aid in
The scheme because of their appreciation
Of the fact that they we're likely to reap .
rich harvest Of the profits, as we'll as
would Cornell, came TO the front hand
fomely. The par value of the stock Was
then SIS. Is was quoted at $l5; the
price st once went to $50, and was
marked by the pool at that point. This
gave it the value per share Of $50, as the
stock is quoted on 'ChEnge, on the basis OF
$40 par. When it got into the vicinity Of
$40 the governor is said te have loaded
and put out large lot Of shorts. Then
the new company came up, A. D. T..
dropped to $50, and has since gone much
lower. how much the governor cleared
by his short sales at $40 is not known,
but he being evidently . good fnancier
it is 10 be presumed he cleared hand
some return. One trouble apparently
with the associates OF Governor Cornell
in the "blind pool" is that they have not
received their share of the profits in the
operation that they believe belongs to
them. But this is not the primary cause
for the statements relative TO Cornell.
His course towards the elevated railroad
tax bill, as was as his course in the
"blind pool, is the chief reason of the
desire which is felt to kill eff the gov
ernor in his attempt to secure renomIna-
ten. The men to do this are Jay Gould
and Roscoe Conkling; Gould because Of
the refusal to lift the tax which took so
much money out of his pocket, and
Oonkling because he has 3 score to settle
with Cornell for the latter's course in th e
senatorial contest Of year ago. These
two men then are placing themselves in
the front IS virtual directors to the repat.
licans Of New York state. Gould also
sees ahead and no doubt desires to have
his potency felt in the choice Of the new
railroad commission which the next gov
eTnor will name. These considerations
have much to do with his present course.
1t is more than likely, however, that
rural voters who do not want to be
cheated with their eyes wide open, will
take some special pains to elect delegates
to county conventions who fairly repre-
sent the sentiment of their district. So
far the endesvor TO injure Cornells
chances have not gone, it ia safe 10 say,
beyond Newspaper agitation.