The Maryville times. (Maryville, Tenn.) 1884-1944, 1896-09-10

morse or a sign of feeling. The indi-
vidual character Of Gould was stamped
upon this transaction in the complete
ness of It's plan, the nerve with which
Il was carried out and the reckless dis
regard Of Individual rights and the well
fare Of the country at large. Coolly and
with perfect elaboration every detail
was arranged. The Office of William
Heath & Co., was made the business
headquarters of the clique. while the
Grand Opera House was its fortified
castle Albert Speyers. German brok-
er, then of no great repute, was made its
mouthpiece in the gold room, while a
crowd Of lesser lights were loaded with
orders, many Of them not covered with
proper margins, to buy gold as fast as
ii was offered and put up the price to
200 If possible, and brighten the board
into settlement. Gold reached 100, and
for an instant touched 165. This was the
harvest time for the clique, and while
some of its agents were thus keeping up
the price by bawling for bids for millions
at 100, Gould was unloading through a
dozen different brokers at far lower fig
ures, but yet at an immense profit to
himself. He had, however, pushed the
price too far, and when the news came
that Secretary Boutwell, would sell A,-
900, 900 of gold the price fell even more
suddenly than 1t had risen, and general
ruin and utter confusion fell upon Wall
street, to a certain extent even involv-
ing those who had been chiefly instru-
mental in producing it.
The day was the blacklist that ever
set on Wall street. Men knew not where
they stood The confusion and madness
thak that
all the clique had gone down. OF the
times that followed it is impossible to
give an idea The truth came out in
some part, but the stake won by the
engineer of the ruin has never been ac-
curately learned. The private settle
ments made when gold was 100 and 160k
are estimated at $25.000,000. The Gold
Exchange Bank, at time when hours
were millions, was overworked, and an
nounced that no clearances would be
made that day. This was its bulletin
1.-THE rules Of the clearing department
require the payment Of all balances to
the bank before any payments by the
bank. Owing to the failure Of several
dealers, the adjustment Of accounts has
been delayed"
When 1t was publicly known that only
the account OF his firm was needed to
finish the clearances for Black Friday,
and when upon That account fortunes
were pending hourly, Gould telegraphed
from his barracks at the Grand Opera
House, where he was guarded from the
mob by the police, not to send 1t down.
In the crash that followed five big firms
including Lockwood & Co.,
brokers, but Vanderbilt
himself poured in millions, and saved
himself. When the withheld account of
Smith, Gould & Martin ruined the Gold
bank the gold-room was one
storm Of curses. And with reason, for
1t was $4,000, 900 short, and shrewdly
suspected Gould of having that amount,
waiting to sell 1t at his price. Finally
Gould telegraphed from his den, and an |
injunction on the Exchange was Sc
,ured preventing any gold selling under |
the rule on his firms account. He had
won the day. By the bank, before 1t |
closed these names were rejected: AL |
bert Speyers, Dornin & Boocock, Gal |
way, Hunter & Co., William Beldin & |
20. Zuiga & Graves, Chase, Mcclure & |
Co., p. H. Williams, Jr., & Co., Charles |
W. Keep & Co., James Brown & Co. On |
Oct. /, Gould began his clear |
lnces-not till then. The delay of the |
clique in settling it's account, with the |
,umbrous machinery of the Gold Ex- |
change and bank, was responsible for |
he terrible wear and tear of the week
hat followed the fatal Friday.
That is the story asked for and it
comes from a source that cannot be
;ainsald. MEGARGEE.