Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1869-10-06

Ch NAAC lACCo VI AAAC
CONSERVATION Immediately prevailed.
The news spread like wildfire. Crowds
: gathered near the Gold Room, and at
$ shortly before ten o'clock Fury sat
upon the throne. Victor Hugo has
uneOnsciOusly described in his "TOl-
lers of the Sea- the operations of the
bears" in describing the drowning
man. After nine o'clock the tide of
speculation gradually rose. Wave
1 alter wave came rolling in. 1t rose
a. d the 'bear" stood still awaiting
his doom in despair. Higher and
higher the wave came-gOld at 155-
and, forlOrn, he looked around for
help. He cried aloud for aid, but his
call was answered only by the wild
scream of the sea bird; the vulture
hovered in the air, slowly alighting to
the form of the gasping soldier on the
field
oh shame to meni devil with devil damned.
Firm concord bold
A FLOOD TIDE.
As the day advanced the excitement
increased. The yellow ore grew
brighter at every. moment and mems I
eyes glistened accordingly. The Gold I
Room was the magnet of attraction:
all else was abandoned. The revenge
ful war whOOp of the most ferociOus 1
Indians, the terrific yells issuing from .
a lunatie asylum, could not equal in .
intensity the excited cries of the spec
ulatOrs in the Gold Room. Rivulets /
of perspiratiOn streamed down many
a face, while the voices of hundreds
were exercised till they croaked with
hoarseness. 1t was a pandemOnium
ever to be remembered with terror, vet
/ tending in some degree to bring before
the mind vivid picture of the con-
demned in the lower regions. But
the tide still flowed on surely and
steadily, with no apparent force to
stem it. The water was not defined
and the victims awaited their fate in
| helpless despair. Truly the scene in
the Gold Room was beyond a parallel. Il
and that, too, as early as half-past ten
o'clock, not to speak of the scenes that
followed.
HOPES AND FEARS.
The fluctuations in the prices were {
as rapid as they were sudden. The
tendency upwards seemed never to
take an opposite course, for while |
there might be momentary stay, so
far as fraction went, the gold, never I
theless, rose with steady but gigantic {
strides. 1t was feared and hoped be- |
sides that the price would reach 200
and men rushed about in the most
frantic state. Friends advised friends
to rush into the struggle or warned
them to stand alOOf. When gold was
lGO it was not for moment anticipa-
ted that il would descend, and the 1
very fact of its increase fired the crowd e
to madness. The faint hopes of many q
nXpIfa6 hn1 ay-r,f-aH Ii
the great tide came sweeping in COW I
ering the treacherous rocks and leav- t
ing no trace behind. O
THE EXCITEMENT AT NOON.
The financial ealdron still bubbled =
with violence. The contagious fever '
spread through the city. The COM O
munity almost became bewildered and
CONNER e was at stand still. There r
was simultaneous rush to Wall street, I
and shortly. before noon the entire ?
was crowded TO excess. The v
entrances to New street were entirely 4
blocked up and men struggled madly +
the thrOng. Messengers n
rushed in all directions, while bro
kers, bankers and others along the
street Jumped bareheaded to the steps
of their concerns to witness the scene. a
"SAN NAAC gnu anu uOhn II lCl1 NLc
hearts of thousands. Just as at the :
faro table, winners rejoiced and losers Il
WINGED with pain. But as the fever L
spread rapidly not only those directly II
interested became terribly excited, C
but the pOpuIace caught the fever and q
we're soon lost in hopes and fears. tr
Nor was the excitement confined to m
he vicinity of Wall street. Gold dials &c
n all directions were surrounded by a u
most eager thronG, and as the prices q
rose the fever became more intense m
In fact, so eager did the crowds be- q
come that in some places the faces of tf
iials were actually covered with paper. q
Never has there been such excite I'll
nent, under similar circumstances, hi
exhibited in the city, exceeding by I'll
ar the South Sea speculation in Lon
Ion. There was not the slightest
.ffort made to check the decline. The
will show the quotations m
before noon: $50, 1901, $50, to
50t, 155, 155l, 155, 155, 155J, 1851, I55, 70
55I, 16O, 1901, 1904, $50, 1872, 1G0. I62, tn
go, 1922, 162, 161, 1901, 1G0, $50, 160, tn
62!!, 165. at
THE BUBBLE BURSTS. fu
AS the bells of Trinity pealed forth NJ
he hour of noon the gold on the in OF
licater stood at l60. Just a moment 10
ater, and before the echoes died away,
,old fell to 13S. Here ensued the Siu ~
rand excitement of the day. The .tsi
bears" who had withstOOd the NIGH "a "a
y siege were now jubilent in the ex- Ia
RENE, while the news fell like terrific =.
hunderbOlt upon the entire cOmmu- a. ~.
lity. The scene which ensued is be- IN
'Ond description. Over the pallid sal
aces of some men stole deadly hue, ~
md, almost transfixed to the earth, W tli
hey gazed on the vacancy. Others y, VI
ushed like wildfire through the ~
treets, hatless and caring little about tn
tumbling against their fellows pro- ~
'ided they reached their goal. Never i tu'
vas there such blight. The "bearsn tiC
lad but few moments before became cal
lmost resigned to their fate, while Is,
he bulls grinned with excessive de- WI
lght. The tables were turned and COZ
he crisis had come. Most people WI
7ere at first inclined to discredid the ia
tatement, but the announcement on eaI edI
he many dials, around which eager ~ ~
hrongs quickly congregated, soon va va
ave satisfactory proof of the fact. 1t m an
Tas tremendous decent, so sudden VI.
nd so amazing as to render many "a 81
lmOst speechless. A more eXtraOTdi- %,
airy phase in financial circles could an an
ave hardly taken place, and the cir a oal
was regarded accordingly. e5c e5c
THE CAUSE OF THE DECLINE. 10
RumOr was wild heentire morning. lat
t was thought that the Secretary Of car
ne Treasury would. not interfere in am
ne contest. But the high handed liv
lanner in which matters were appar- the
ntly being conducted demanded some mu
office, otherwise there was no know gar
lg where the end would be. While lat
ne fever was at its height-gold tics the
while some men were almost deli cor
Ous with joy, and others were going the
lad with despair; while the cOmmu- val
ity was being disturbed by an un- to
and outrageous shock, of
paralyZed and the order of act
lings completely disarranged, tele-
ram came across the wires that was II
ION to quell the excitement that pre- -
allied. By some inkling the intelli- sSn S;1
ence contained in the ill-important III: IiaS
,legram was spread abroad like Wild Ia. 10.
re but scarce had General Butter I;, IHn
eld, the Assistant Secretary of the IN ~
received the communica- ua w
on when it was posted prominently oo9 oo.i
l the bulletin. The telegram read al al
J follows: "Sell four millions gold , tne
'-morrOw and buy four millions Ne Ne
o n