New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-20
Mr.. WE'LL HAD TO CART AWAY THE GOLD
HE AND P!INY FISK HAVE A DISAGREEMENT
As TO WLAT " CrREENCY" IS

As TO WHAT CURRENCY Is.
An interesting story came ont Yesterday winch
caused laughter or jccrS among Wall Street men
according 10 their respective prociviiics. Tie iacl''
as related by Pliny FisH OF Harvey Fisk p sons 'he
big Government bond house, these: shortly AFTER
the regular Government bond call ri the stock EN-
change Mr. Fisk went from the rostum into the
bond crowd Prices for United states per cents
were about 11101l2. While standing therr MI
Fisk observed If. &. Well, Of A. J. We'll a Co.,
whisper to another broker who immediately cih"l
out loudly: What are Governments! M fi>h
SAYS that he was surprised at This unusual method
OF irving 10 deal IN these bonds. but replied mat
the bid was III SIS. Mr.. We'll whispered 10 'nc
broker who then called ont: Fifty at Ill IL =
Mr. Fisk replied with a bid OF III 3-5. Finally,
after more whispering between Mr.. We'll ana ms
friend the latter offered fifty $1,000 per c'N'
bonds mt 10 "a "for CURRENCY MI. FISK promptly
accepted the oner
The word currency" has, in Wall street ana
banking variance distinct significance from us
technical meaning IL is invariably used for paper
moncy-lccal tenders and Treasury notes
I'm contradisinction 10 gold. But Mr. fls"
according 10 his own statement, suspected mat the
sal, inspired by Mir. We'll was mate IN 'cfhN III
tended 10 be used 10 acGrnvate the siuao"h' IL
We'll Co. are large operator. on the bear account
Mr. Fisk quietly sought the advice oil James '"ei''
,he chairman of the Stock Exchange, who con-
sturcis /. a partner IN big "bull' house. lie
advised Mr. Fisk that currency" meant gold. ana
expressed the hope that CON wolId be- oh'i'u WIZ"
VOL 4 CO. delivered the bond. Several bank pr''i-
dcnts Mr. Fisk says. gave him th" same adVi"@'
So Mr. Fisk lad the $4,000 odd 10 cover m' P"f
chase spread ont in eagles and half"agl"S III 'he
rear Office Of his Nassan-st banking building Yes
,o,doy morning g. j. We'll came 10 Fisk 4 sons
with the fifty bonds he had sold for currency
"Whcre's my currency he demanded
.There IT is replied Mr.. Fisk pointing to 'he
Offering yellow piles OF coin on a table presenting
a bulk which would require the services OF cVerai
men TO handle.
Then followed a heated squabblc Mr.. We'll insisting
that notes were currency and Hr FISK asserting mat
cold coin was 1.-THE best form OF currency Finally
Mr. We'll want away and sent back his brother. H..
g. We'll who had cold the bonds. The Inter had
another warm controversy with Mr. Fisk. who finally
delivered the ultmatum that II the bonds were not
delivered by 2:15 p. m. the delivery hour. he would
send motto. 10 The chairman OF the Exchange, re-
oiiirinc the purchase Of the securities under the
rnler Mr.. We'll rushed away in Intense excitement.
but nj ] - p. M cab drove up TO FIX q sons
office the precious Coins were carried by two men
into the cab and Mr.. Fisk received his fifty $1,000
per cent bond,.
The bulls in Wall Street seemed 10 eloat over
This incident yesterday. They charged Mr.. We'll with
having a motive I'm Offering Governments "for cur
rcncv~ which would help the "bcnr' side by making
low ouototicn to he cabIcd abroad But the hears
wanted 10 know how point could he made In
declining gold ccn and insisting notes. which at
one time under Il cloud placed upon Them 10y
the Secretary Of the Treasure. ,
Mr. Well himself declined 10 di~cu>S the incident
which had been adjusted and that the story wa, not
worth attention.