The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1869-09-24
An Excitius Day In wall street.

Yesterday was probably the most exciting
day that has been experienced In Wall street
since the war. II is seldom indeed that such
frequent and wide fluctuations are expe-
rlcnced either In the gold or stock market
The excitement In the Stock Exchange CEN
tered on Central and Harlem stocks, known
on the street as "vanderbilt shares" Soon
after the opening Of the Board rumors began
to fly from mouth to mouth rs only rumors
can fly, and In few moments both stocks
commenced downward course, which was
greatly accelerated when the rumors became
generally understood In oil their bearings.
The first rumor was q most absurd ono, and
met with little belief excepting from those
foolish spectators who are predisposed to
believe anything they hear about finances,
although passing shrewd In other matters.
II had reference to the death Of Commodore
Vanderbilt, and was denied before II had
spread to any great extent.
The second was moro serious In Its re-
suits, and effected q fall Of over twenty per
cent. In Central and twelve per cent. In liud-
son, not to mention the sympathetic decline
In tho balance Of the list. 1t stated that
Judge Barnard, acting upon the application
| OF certain stockholders Of the Harlem road,
had issued an injunction restraining the dlrce-
tors Of either road from completing their
proposed arrangements for consolidation.
| While the decline was most rapid the scene
| on the board was one Of lndescribable con-
fusion. The excitement seemed to carry
men completely out Of themselves, and for o
time the scene was painful as well as cxclt-
ing and interesting. Many Of the brok-
| ers, whose customers had purchased large
amounts Of the declining stocks through
them, on the usual margin, held of gingorly
for few moments, but seeing that the fall
was inevitable, and fearing that their mar
gins would BIO insufficient 10 cover their
losses, rushed wildly into the throng Of their
yelling, jostling brethren, and added their
quota to the universal clamor.
To-day at the first board the list OF killed
and wounded will be called, and 1t is THOUGHT
that large number OF the "small fry deal
ers will then be gazetted as "failcd." The
street rumors last night lntimated that very
prominent banking house was "shaky," but
as far as could be asccrtalned this rumor,
like those which caused the panic, has no
foundation In fact. Since tho publication OF
tho canard relative TO consolidation, Judge
Barnard is understood TO have said that he
did not issue an injunction OF the character
described.
In the gold room there was quito as much
excitement as on Change. Here, also, tho
basis of the rise (for iu this case II was a
rise, not q fall, was q rumor, backed by the
power OF the clique which now seems Il
control the market. Starting, at about p
M, when the premium was 13IM, gold
mounted steadily, amid the most intense cx.
element, to liOK, at which figure 1t stood
at 1858. Later In the day II rose to 1il1s
which was the price at 1850 p. m. During
the two hours Of excitement the street wa,
flooded with rumors, but none OF then
seemed to have the effect Of retardlng thu
rapid advance. The scene In the gold room
where confusion Is the rule and order thu
exception, has had but few parallels sinc'
the WARY Y. Tribune, Esd.