specified in this paper) they
appear to have had a larger balance, at least Mr. Cochrane Johnstone
appears to have had on an antecedent day, than he had on the 21st of
February; but it appears as if they not only were speculating on what
they were buying, but they were speculating to such an amount, that
unless they got rid of it, every one of them might be ruined; and they
had determined, it should seem, on getting a profit of about one per
cent. to sell the whole. It turns out, that on the 21st of February, as
appears by this paper, L.420,000 of omnium, and L.100,000 of consols,
belonged to Mr. Cochrane Johnstone; L.139,000, of omnium to Lord
Cochrane; and to Mr. Butt, L.200,000 omnium, and L.178,000 consols. It
appears that he sold on that day, L.24,000 more of omnium than he had;
and L.10,000 of consols short of what he had; and with those differences
merely, they, on that day, evacuate themselves of the whole; and, by Mr.
Baily's account, you will see there was a profit upon the whole. The
gross amount of the balances of all three, was L.759,000 omnium, and
L.278,000 consols, which would make, he says, if the whole amount were
reduced to consols and calculated as consols, L.1,611,430, L.3. per
cents. Of that quantity of stock they were holders on the 21st of
February. When I have stated the total amount as being L.1,611,430, 3
per cents., that is supposing the omnium was calculated in terms of
consols; he says, the fluctuation of only _an eighth_, would, upon this
large amount, have been a profit of above L.2,000. The profit upon the
sales of that day, was, he says, L.10,450. Lord Cochrane's share of this
profit was, as he computes, L.2,470.; Mr. Cochrane Johnstone's, L.4,931.
5.; and Mr. Butt's, L.3,048. 15.; he says, "If no news had arrived on
the 21st, no person could have sold this large quantity of omnium and
consols, without very much depressing the market;" therefore, it was
necessary, it should seem, that there should be good news to keep up the
market, that great holders of stock might get out of the adventure
without loss. "I should think the news arrived in about half an hour
after ten; business begins at ten; the news had a gradual effect, as the
report was believed, the first decline was about the middle of the day;"
he says, "the recovery of the funds was generally attributed to the
chaise passing through the city;" therefore one chaise was, in point of
effect, a good auxiliary to the other, and the bl