The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1869-10-05

90 nNcsf @GEA q aAFasifhe4 q kAN
financial h.siery ciglc csaBty The
ptenauu Ca gold which stood a. Isl I
&c Wedsss,lsy norsior. vaa. dur ng
ths Gay, iofssl Up 8 lass, and, 81
Thars5sy. aussa great cEcNment ran
~ bIfffs On Frliay. wtsn o.
reid bard epent1 So mata vas $50
The Enl sslo was 81 1855 u then
jumped q le4 taon 70 1875 Prom
ihis reiat /, fsa t5 Leo Thea he Balls
were -stfieken BY 5 salt 81 l3o rs
They tried y redeem tie market by
bidd.rg ie9. tut thcre wsrc no sales at
THIS figure II was then. At II O'clock.
whispered through the room that Sec
Boaiwcf BAL thrown large amount q
govrrnuen, gold upon The market
vhich then broke dawn. tho sales then
berg made Al l35. then 1888 then i34,
then fa2. Their $50. then lsi finally
seitling % l35. which was lhe rate
wien The closing quotation was made.
The following description q tho scene
among the crazy spectators il given by
an y paper
Another feld-day in he gold room
this time no. only without precedent
ia The history Of the room, but Ear be-
yond anything in tho memory Of the
Oldest operators in Wall street The
scenes aud incidents o. the morning
are almost indoscribable and must ey-
er remain fresh in the minds II those
who. witnessed them, The public were
prepared for an exciting time to-day,
and at early hour Wall street was
completely blocked up with an anxious
crowd The windows of the buildings
opposite the gold room we're also filed
With spectators and the casual obsery-
err would be led 70 suppose from the
general appearance that procession
was about TO pass or that great per
Torrance Of some kind was expected
The room itself and its galleries were
crowded, as well as all the passage
ways. The market finally opened and
gold sold at las. This was the first
event in the history Of this remarkable
dag n New ST. The next sale was at
l4i. then las was again reached. At
this jtncture the excitement fairly com
meneed, and the price rose to lac, then
to l47 then TO l4S, when it suddenly
fell back to l46l, but in the next in
slant was up to 1904. The next step
was decline to $50. where it remain
Cd some time, and everybody stopped
to take breath, and abe crowd were
amazed. A death-like stiffness per
vaded the room, and the bears, who
were being slaughtered in a pecuniary
point Of view. looked on the scene
with pale and anxious faces.
at this crisis Wall and Broad streets
presented lively scene, with the bro
kers and clerks running in all direc-
tons and endeavoring to collect mar
gins to mako the gold up to the market
price. But 10 return to tho interior Of
tie room and await the next step in
this groat gold speculation The crowd
did not have long to wait, for in rushed
a prominent banker and taking posi-
ton in the circle he bid $50, then 1901,
then l51, then 1914, then l25 then 1901
then 1911 then l52 then 1921. then l53
then 1881 then l54 Their l54A and he
finally stopped at rs. Not one dollar
Of gold sold at any Of the above figures
There was another panic and another
running for margins. Some few Of the
bears settlee with the bulls at this
juncture at prices ranging liS to 152,
but the prominent bears generally re-
fused TO settle.
As soon as margins were made up to
100 aud the big bear" we're still stub
born the screws were put to the mar
ket enc more. In rushed o prominent
broker aud in an instant he bid l60 for
any part Of $4,000, 600; this was follow
cd by the bidding price being raised TO
1921 and finally it reached l64.
Here followed another calm which
was succeeded BY the appearance in
force in the room OF the foreign bank
err, who threw considerable gold on the
market. causing the price to break
from l64 to TO l39 rs, The excite
ment at this iuncture was Of the wild
est description, il being reported that
Sec. Boutwell, would sell $.4,000.0 900 in
gold tomorrow and 100000 the
next day.
This triumph Of the bears was Of
short duration, for the Bulls rushed
madly 10 the rescue ard Immediately
jumped the price up again 70 l6O. AT
this juncture tho Bears returned to the
attack and the contest was very bitter
for short time. but the Bull army was
forced back again aud the price tum-
bled to 1875. The Bear fraternity could
not be restrained al this point, and
cheer after cheer went up in the room
on New street,
Suddenly The Bnll Generals rallied