Part 60
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General Statement of R. G. b.u.t.t's Omnium Account,
from 8th to 21st Feb. 1814.
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through Fearn
through Richardson
--------
---------
---------
--------
---------
-------
--------
Daily
Daily
Daily
Daily
Daily
Daily
Purchases
Sales
Balances
Purchases
Sales
Balances
--------
---------
---------
--------
---------
-------
--------
Feb. 8
10,000
10,000
9
50,000
10,000
50,000
10
78,000
110,000
18,000
11
115,000
33,000
100,000
12
100,000
14
96,500
100,000
96,500
15
13,500
110,000
16
18,500
10,000
118,500
17
11,000
19,500
110,000
18
38,000
148,000
19
18,000
130,000
50,000
20,000
30,000
21
154,000
24,000
30,000
Sold too
much.
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General Statement of R. G. b.u.t.t's Omnium Account,
from 8th to 21st Feb. 1814.
----------------------------------------------------------------
through Smallbone
TOTALS
--------
---------
----------------
---------------------------
Daily
Daily
Daily
Daily
Daily
Daily
Purchases
Sales
Balances
Purchases
Sales
Balances
--------
---------
-------
--------
---------
--------
--------
Feb. 8
10,000
10,000
9
50,000
10,000
50,000
10
78,000
110,000
18,000
11
115,000
33,000
100,000
12
20,000
20,000
20,000
120,000
14
10,000
30,000
106,500
100,000
126,500
15
30,000
13,500
140,000
16
30,000
18,500
10,000
148,500
17
30,000
11,000
19,500
140,000
18
10,000
40,000
48,000
188,000
19
40,000
50,000
38,000
200,000
21
40,000
24,000
Sold too
much.
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R. G. b.u.t.t's
Consol Account,
from 11th to 21st Feb. 1814
--------
-----------------------------
through Fearn
--------
-----------------------------
Daily
Daily
Daily
Purchases
Sales
Balances
--------
---------
-------
-----------
Feb. 8
9
10
11
46,000
20,000
26,000
12
87,000
113,000
14
113,000
15
55,000
168,000
16
40,000
208,000
17
208,000
18
208,000
19
30,000
178,000
21
168,000
10,000
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_Q._ What appears at last to be the gross balance held by each of them on the 19th February; what is Mr. Cochrane Johnstone's balance of Omnium from all those different accounts, on the 19th February?
_A._ 420,000.
_Q._ Now state Mr. Cochrane Johnstone's Consol Account.
_A._ 100,000.
_Q._ What was the balance of Lord Cochrane's Omnium account?
_A._ 139,000.
_Q._ Now state Mr. b.u.t.t's.
_A._ 200,000.
_Q._ And it appears, I see, that there were 24,000 sold too much on the Monday.
_A._ Exactly so; there was that quant.i.ty sold more than he had purchased.
_Q._ What was Mr. b.u.t.t's Consol Account?
_A._ 178,000, and he sold only 168,000.
_Lord Ellenborough._ Then there was 24,000 too much of his Omnium, and 10,000 too little of his Consols sold?
_Mr. Gurney._ Exactly so. Now what was the gross amount of their account of balances on that day?
_A._ 759,000 Omnium, and 278,000 Consols.
_Q._ As we are not so well acquainted with Omnium as you are, if that were reduced to Consols what would they have amounted to?
_A._ It may be necessary to state, that every thousand pounds Omnium consists of 1100 Reduced and 670 Consols, therefore the whole amount of that would be 1,611,430 three per cents.
_Q._ Now upon that amount, what would the fraction of a single eighth per cent. be?
_A._ 2014:5:9.
_Lord Ellenborough._ The whole of this fund was cleared on the 21st, except 10,000 Consols, and it was oversold by 24,000 Omnium?
_A._ Exactly so.
_Mr. Gurney._ Have you calculated from the accounts, the profits made by those sales of the 21st?
_A._ I have.
_Q._ To what does it amount?
_A._ Exactly 10,450.
_Q._ That is the total of the three. Can you give me the proportion of each?
_A._ For Lord Cochrane 2470, Mr. Cochrane Johnstone 4931:5, Mr. b.u.t.t 3048:15.
_Q._ From the state of the market on the morning of the 21st if no news had arrived such as raised the funds on that day, could any persons have sold this large quant.i.ty of Omnium and Consols without very much depressing the market?
_A._ I should think not certainly.
_Q._ Do you remember at what price Omnium left off on Sat.u.r.day the 19th?
_A._ I have referred back to the books; I cannot state from my own memory.
_Q._ Have you the books here?
_A._ No; they are the books of the Stock Exchange.
_Q._ Mr. Wetenall's accounts?
_A._ Yes.
_Q._ How soon after the business at the Stock Exchange began on the morning of the 21st did the news arrive there?
_A._ I should think in about half an hour after, but I really am not quite certain to that point.
_Lord Ellenborough._ The business begins at ten, I believe?
_A._ Yes.
_Mr. Gurney._ As soon as the news came, had it a sensible effect on the funds?
_A._ Yes; a gradual effect, according as the report was believed.
_Q._ Do you remember after some time whether there was any check or decline?
_A._ Yes; there was about the middle of the day.
_Q._ I mean the first decline.
_A._ Yes; afterwards they recovered.
_Q._ To what was that recovery owing?
