The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-09-24
FROM NEW YORK.
The Scene I'm the Vicinity of Wall Street Beyond
Description.

The Scene i'm the Vicinity of Wall Street Beyond
Description.
GFIRsT SPECIAL DEsPATCH.l
NEW YORK, Sept 24.-The scene in Broad, Wall,
Nassau and all the streets in the vicinity Of the
Gold Room to-day bafles description. At no time
during the war has such an excitement been wit
messed. Before O'Clock this morning the crowd
commenced to gather, and Lively time was had In
the street buying and selling the quotations. start
ing at about 145, and before the opening of the
Regular Board at 10 A. NJ. the market had advanced
to 15o, and even at this price small lots could be
had.
Opening Quotations In the Gold Room.
The opening quotation in the Oold Room was 100,
and for nearly an hour there was but a very slight
change there being a terrible fight in progress be-
tween the two factions Of bulls and bears. Enor-
nous pressure was brought to bear on both sides,
and fabulous sums were bought and sold
The ''Bulls" Masters of the Field.
Itwas short struggle, however, as the 'bulls'
proved themselves masters OF the situation; and,
after the turning point had been reached, carried
everything before them, and becoming wild with
over-success, ran the quotation up faster than it
could be telegraphed.
How Gold Jumped.
Ignoring fractions the price Jumped one and two
cents at time, commencing at SO, and within an
hour touching IS, then 3d. co. 61 g. and finally 62K.
After reaching this point it toppled; there de-
cline, struggle for maintenance, but
The Bubble Burst.
The bottom was Knocked completely out OF the
clique, and with crash terrific than the rush
with which 1t assembled, the quotation fell to CO. 81
65 5S, So d. 40, 43, Az 49, 3s, 35, and 81, where it
touched bottom and rebounded slightly, it now being
3S and Quiet.
During the widest of the excitement, there was a
difference Of about IS per cent in the quotations.
million could be bought for 49, when small amounts
brought 5S to 81.
[SECoND SPECIAL DESPATCH.l
The Gold Room Litened TO Pandemonium.
Snnf A fha Nn11
Board this morning exceeded anything outside OF
Pandemonium. The floor and lobbies were densely
crowded, and Broad and New streets were filed
with people as to be impossible for vehicles
The Stock Exchange Deserted.
The Stock Exchange next door is almost deserted,
everybody watching the gold registering apparatus,
which fronts on New street. This fuctuated like
the wind, and at each rise and fall of eighth the
crowd would express itself in noisy terms.
The Rise
from 1855 to 100 as fast as the operator could
turn the crank, and when 100 reached there was
loud cheer. In the excitement a grey y-headed old
German gentleman rushed to the Presidents chair
and asked to be protected from some imperceptibe
danger. The yels and noises when gold was at 162
were absolutely deafening. A burst of tenn
porary amusement was excited when a broker
| entered the crowd with a large pasteboard
bull under one arm and pasteboard bear
Of equal size under the other and by pulling their
respective strings made each noisy as the bulls" or
"bears" trumphed IN the board. Among the street
spectators were numerous German agents for i'm
l porting and mercantile houses who watched the
increased rise with dsconsolate looks. 1t quite
| common to hear the question asked, "Why don't
/ the Government interfere?' And it was
i equally common to hear one broker
| ask another, "How do you stand ?" the response
often being, in melancholy strain that it was Sim
possible to tell" Numerous failures to be antic
pated. AT this hour (noon) it If the upward
te ndency had reached its limit
The betting on the rise or fall Of the registering
| apparatus is about ever.
| Private Bids and Public Sales.
During the rapid rise this morning the private bids
generally managed to keep one or two per cent. in
| advance of the public sales in fact, when 157 was
| quoted there were private bids out for 100. The
early sessions OF the Stock Board did not to be
| affected to the extent which might have been eX
| pected. What developments may take place later in
/ the day it is impossible to say.
| THIRD SPECIAL DESPATCH.
The NOon-day Fever.
| NEW YORK, Sept. 24-12 0cl0ck.-The fever in
creases and everything is, if possible, more unset
tied than ever. 1t has been twelve minutes since
my last despatch, and in that time gold has fallen
from one hundred and ffty-six TO one hundred ant
| forty-two. The fall sudden as the rise.
1t stood at one hundred and forty-two for a mo-
ment, when large house was understood to make a
bid at slightly better figures for million There was
| sudden check, and since then number OF CO.
| about Boutwell, and ten thousand other influences
are not worth telegraphing. They gull nobody.
| Saunre Contest between Ihe Two Factions
| The war being fair and square contest between
the bulls and the bears for the mastery, the out
sders keep aloOf in horror and disgust. Perhaps
the most singular feature OF this extraordinary
| affair is the personal appearance OF the men who
are startling the country with their reckessness on
the foor OF the Gold Exchange.
1 Young America.
| Bids are offered and taken by beardless youths
1 whose appearance in mercantile circles would not
entitle them to any consideration IL might be sup
| posed that they were operating entirely under in
structons but the rapqty OF the operations forbids
this stranger is disgusted beyond measure to see
the most important national interests sacrificed to
| these gamblers.
| Messages for Europe.
| There is long line of business men now at the
| Atlantic Gable desk of the Western Union Telegraph
! ofiice waiting 10 transmit messages to Europe, al
though if they can form any definite ideas of future
finances it is more than be done by the majority
| of New Workers.
| NEW YORK, Sept. 24.--There is tremendous excite
| ment In the Gold Room Gold opened at $780, went
mn to 1856 then to 160 then to 165, and then fell t.
| 100 and from there to 139 cash. The next bid was
| l6O' Later-1215--Gold is now at 130 cash, and 10:
| regular. 1250-Gold, 184.
| Arrival of the California Pioneers.
| NEW York, Sept. 24--The Association or Califor.
| mia Pioneers arrived this morning from California
via the Pacific Railroad. The party numbers two