The Trial of Charles Random de Berenger, Sir Thomas Cochrane Part 60

==================================================================== General Statement of R. G. b.u.t.t's Omnium Account, from 8th to 21st Feb. 1814. ----------------------------------------------------------------- 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. ====================================================================

=================================================================== 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. ===================================================================

======================================== 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 ========================================

_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?