ue coats and the
worsted embroidery, aided, it should seem, the effect of the red coat
and gold lace; and you will consider whether it was not all part of the
same transaction. I think, he says, the chaise through the city carried
it to its highest amount; I should think, he says, the accounts were
time bargains, from the magnitude of the sums, and it should seem, they
were so; but though the gain which these parties made, might not be a
legitimate gain arising on legitimate bargains, the evil of this to the
fair dealer is palpable, and the argument of its invalidity is a sword
with a double edge; its operation, at any rate, is to cut very deeply
into the interest of innocent dealers in the funds.
Mr. Wetenall then speaks to the different prices of the stock on that
day; he says, "I collect the prices at different times of the day, and
furnish the bank with these papers. Omnium left off at 26-3/4, that was
the money price; the time price is generally one per cent higher. It
commenced on Monday at 26-1/2. On news arriving, it rose to 30-1/4; fell
back to 30, and afterwards to 28. After the stocks had begun to fall; on
a report of a chaise having come through the city, they rose again."
Pilliner, who was a stock-broker, says; "before the 21st of February I
had made purchases for Holloway to the amount of L.20,000 omnium, and
L.20,000 consols. I sold for him L.20,000 omnium, and L.14,000 consols.
I saw Holloway on the morning of the 21st;" he declines answering
whether they were time bargains, or for money; "he desired me to sell
his stock, to sell all about the middle of the day. I had acted as
broker for him two years."
Then Mr. Steers says, "I am broker to the Accountant General of the
Court of Chancery. On Monday the 21st of February I made purchases, as
broker for the Court of Chancery, to the amount of fifteen thousand and
odd; I bought at 71-5/8 consols; that was the price about eleven
o'clock, when the funds had considerably risen; that was all that I did
that day for the Accountant General. I can speak to nothing else that
day. I purchased L.6,894. 11_s._ 4_d._ consols for the Accountant
General, on Saturday, at 70;" therefore the difference between 71-5/8
and 70, seems to have been occasioned by the operation I have before
stated to you.
Mr. Wright is next called; he appears to have printed this affidavit by
Lord Cochrane's direction, on slips for the newspapers; he says, "In a
conversation with Lord Coch
|