his uncle, Mr. Cochrane Johnstone (also a member of
parliament), and the other a Mr. Richard Gathorne Butt, formerly a clerk
in the Navy Office. They discovered that these persons were engaged
together in speculations of a magnitude perfectly astonishing. I have
the statement in my hand; but I do not think it requisite, in my address
to you, to go through all the particulars. Mr. Cochrane Johnstone and
Mr. Butt, who had commenced their stock speculations on the 8th of
February, a week earlier than Lord Cochrane, had dealt much more largely
even than he had. Their purchases were the same, their sales the same;
they seemed in these stock speculations to have but one soul. If one
bought twenty thousand, the other bought twenty thousand; if one bought
ninety-five thousand, the other bought ninety-five thousand; you will
find the act of one the act of the other; and you will find these three
persons, Lord Cochrane, Mr. Cochrane Johnstone, and Mr. Butt, having on
the Saturday preceding this Monday, a balance amounting in consols and
omnium to very nearly a million--reduced to consols, you will find it
amount to sixteen hundred thousand pounds; and on the morning of Monday,
on the arrival of this news, they all three sold--they sold all that
they had, every shilling of it; and, by a little accident in the hurry
of this great business, they sold rather more.

Gentlemen, it was discovered still further, that the principal agent in
these purchases and sales, was a Mr. Fearn, a stock broker; that Mr.
Butt was the active manager; that the directions for Lord Cochrane's
purchases and sales were made mostly by Mr. Butt, and were recognized by
his Lordship; that the payment for any loss (sustained by either of the
three) was made by Mr. Butt, and the receipt of any profit was by the
hand of Mr. Butt. They discovered that Mr. Cochrane Johnstone and Mr.
Butt, were in the habit of coming every morning at an early hour to
visit their broker, Mr. Fearn; that on the morning in question, they had
come at an early hour, in a hackney coach, and that Lord Cochrane, after
having breakfasted in Cumberland-street with Mr. Cochrane Johnstone and
Mr. Butt, came in the same hackney coach, at least as far as Snow-hill,
if he did not afterwards go on to the Stock Exchange. They discovered,
too, that Mr. Fearn was not the only broker they employed; they
employed a Mr. Smallbone, a Mr. Hichens, and a Mr. Richardson; they may
have employed twenty others th