Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1869-09-30
The Gold Speculations.


ing upon the market This influence
was fully developed on Friday, of last
week, to be set of wild spectators
in New York City Such day as that
was to those interested has probably
never been known Happily these gam
blers are the only ones seriously injured,
Their madness, failed to work the mis-.
chief to the country which they had
hoped, but on the contrary brought de,
served ruin upon many of themselves -
The following graphic description of the
day proceedings, is from specia dis
patch to the Cincinnati Commercial:
At nine o'clock this morning the bid,
ding began On the street, gold was Of
iered at las, and was snapped up on the
instant Down it went to IA! in lffey,
and was back to AS within a halt min
ute. The street became intensely ex-
cited. Men grew nervous. Up went
the precious metal to l46b at single
jump; then to l47; and, close on the
heels of these figures, to Jas.
A spasmodic yell arose from the crowd
at this result Men began to shrek, and
shout, and flourish their little books
more violently than ever, The bears on
the street made rally, and back gold
went to l47. Another rush of bears,
and 1867 was reached, Confusion en-
sued; everybody seemed to offer and bid
at the same time, and l49 grew out Of
the smoke In second $50 and 1904
were reached.
During these outside operations the
members of the Gold Room dashed up
the Broad and New street stairs, and
disappeared. The San reporter followed
1t was but twenty steps TO the lower
gallery. Imagine little fountain in the
centre of the amphitheatre the centre
of the fountain is bronze cupid, with
dolphin in its arms from the head Of
the cupid arises II ting silver stream,
which falls in jets to tho basin below -
Fancy railing ninety feet in circumfer>
ence, about this basin; then some twenty
feet between the walls and the fountain,
and you have rough idea of the Gold
Room
On one side there are two galleries,
the lower for errand boys and the upper
for spectators. We stood in the lower
gallery. Beyond the fountain, with his
back to New street. stood the Secretary
recording Che sales which he caugh: by
his ear Near him is the telegraph OPP.
orator. Wires run from his machine to
nearly five hundred brokers Offices, who
are thus instantly informed of the state
of the market and are enabled to make
their bids undisturbed by the furious
excitement which rules in the Gold
Room on momentous occasions We
have described the Gold Room
At 10 m the board opened, the Vice
President in the chair Usually, the
heavy gold operators remain IN their
offices, and base their bids, which they
send by messengers, upon the reports
received by their office telegraphs. But
the magnitude of yesterdays fight drew
most of the moguls into the amphithea-
tire, and they entered into the contest
with the terocity of gladiors.
Among the prominent operators were
Albert Speyer, Henry uIews, Horace
Waldo and his brother, Mr. Colgate, of
the firm of Trevor q Colgate, Messrs,
Kember and Heisa, and fifty others
The fight opened at 10 a. m, with gold
at $50 The bull clique seemed unus-
ually quiet A quarter OF an hour pass
ed, and $50 was sull the ruling figure
The Secretary seemed in no way oyerrun
with business, and the telegraph operas
tor worked his machine and conyersed
ghbly with the bystanders At 1890
I the situation was about the came, the
market standing az $50 The bears were
cautious, and evidently suspicious that
this skirmishirg was preliminary to n
| bitter fight. II was not until | ! o'clock
! that this comparative monotony was
broken $50! was bid and the bears be.
/ gan to win
"ilelIs to pay now" shrieked gray>
haired man, apparently burning over
with agony A hundred fists were shak>
en- at each other over the little fountain,
and an internal series of yels filled the
room To an outsider it was impossible
| to distinguish either bid or an offer
he bulls had now begun their grand
charge They swept the bears before
them like ehaF From l60s the metal
suddenly jumped 10 1857 This was un-
precedentcd Men began to shrek and
rave like wild animals They rushed
around the little fountain in paroxyms
OF fury, The bears gathered in groups,
and snapped and suarled in turn The
bulls shouted with joy. Within fifteen
minutes the premium was forced up to
I .62l.
The bears sold very readily to their
own clique at 1875, when the market was
To- They refused to sell to the bulls
at any prize Thus matters stood when
/ Albert speyer leader among the bulls,
threw among the raying, the tempting
ofer of loo Such marvellous bid,
coming from dealer known to be fully