The New York herald., 1870-12-17
WALL STREET WILD.
A Tight Squeeze in the Money
Market.
Tho sBears'' Get tho "Bulls" in the Horn
Of . Dilemma-Another Memorable Fri
day-Excitement in tho Street.
The Upshot of Clique"
Conspiracy.
"who's got any money ~

"Who's got any moneyp'
Now, 1t is generally supposed. at least In Wall
street circles that when man has got so low
In the world that he finds himself obliged to
CRY out such question as the above ne isn't
worth pucking; but Wall street, fortunately for
ahe rest OF mankind does not always 1t in its
power to regulate everything in this mundane
sphere. 1t is, OF course, we recognized fact that
The "Dulls" ana "bearsv have often arranged the
affairs OF their own little world to their advantage
that the unsophlstlcated portion Of outsiders VINO
think they pull the wool over the eyes OF any
body who cannot Doast Of as many slips up IN the
Bankruptcy line as they can have come to sudden
and uncomfortable grief; but it has happened more
than once Notwithstanding that money has been
dust the power Wall street men have not always
)pn hand to lay taeir plans with.
"wno's GOT ANY MONEY ~
How many men on the verge Of ruin have not
yelled out this question In their despair; and GER
tainy II one OF the unsophstIcated crowd Of .'out-
siders" had tumbled into Wall street yesterday ex
pecting advice as to how he should make money he
would have been tnunderstruck on ascertaining
that
WALL STREET ITSELF WAS IN AGoNIEs
ITO get hold OF enough OF the precious stuff to pay its
way through twenIy-iour hours without falling
by the wayside. In fact, since that terri
BILE "black Friday" when 'the street." the
members OF the board ana everybody else
1magined himself securely fixed in some
Htock or another which he had got hold OF "on
points" that couldn't be Knocked in the head, wall
street never witnessed such Friday as yesterday,
30 far as the actual money market was concerned.
On Thursday 1t became evident on the street that
the clique had been working with will for many
weeks TO secure q rich harvest at the expense or
those who We're not able to keep posted as to the
way the financial winds were destined to blow
near Broad street yesterday. But that portion Of
The mercantile community who wanted money the
most were soon made aware OF
THE STORM THAT WAS BREWING,
when late on Thursday evening the money market
became so tight that 1t was considered quite an ac-
CoMmodation 10 obtain any amount for less than
knew right well that this exorbiiant demand was
FAR beyond the stated maximum interest allowed by
faw, but when man IN the course Of his regular
business has to meet his engagements promptly at
fhiee O'Clock III tile afternoon he cannot
Rf1ord to 1od his arms and, Micawber ike,
wait until few minutes OF three oc.ock
70 see what Will turn up. The few-rhe very Jew
who were foOllsn enough to 90 SO yesterday and
even the day before lound out finally TO their cost
WALL STREET HAS NO CONSCIENCE.
And no wonder; for 1t turned out that the clques,
10Y one or those IOul COispiracieS which have so
often disgraced whatever oi good name was lett to
WaH street since the var manlas have become
patriotism, had "locAed up'' about SIX millions OF
Dollars How this conspiracy was first formed no
positive fact nevertheless that well known sbear'
Ais Office, where the
. LEADERS or THE CONSPIRACY ASSEMBLED
Pnd conc0Cted the pans which proved disastrous
yesterday 1t IS alleged III circles thai certain
hgn dlgnltaries OF the city were in league with the
Clique the matter but as this suspicion was given
rise to only by tie simple fact Of the withdrawal OF
Sne CITY funds by the authorities, without due notice
"A M nf
Decture 1he fact was patent, however, that at least
ftwo-thirds Of the money brokers were yesterday
THROWN ON THEIR BEAM ENDS,
Rnd could not ior the life OF Them procure few
thousands for their own or their customers use
without paying the most eXorbtant interest for 1t.
Fhe stock market felt the influence OF the rumpus
IN way that many Spectator had reason to re-
gret FOR decline OF prices set in during the after
noon that at one time threatened quite panic.
Late III the day, however when the plans OF lie
called cOnsp.ra had become pretty We'll vent
lated, things began TO wear more steady look on
the street, although Northwestern Rock Island,
Western Union and ST. Paul mad little tumble OF 1t
before the days business closed Northwestern get
ting the heaviest fail oil all from which, however, it
eoon recovered by the usual docoring process so
well known to cliques in general
The neighborhood OF the Stock Exchange all the
Nay long presented
| SCENE OF THE MOST INTENSE EXCITEMENT.
The streets and sidewalk leading into the huilding
were packed during the afternoon by the hafcrazed
BROKERS' who wanted 10 get money OH easy terms, or
rather. on terms which would not swamp them Ell.
llrely.
Il want to sell few Lake shore,n cried one in
crowd IRON tile money question:
"WnatN you givep
sI'll pay cash aud sell reguarn
THIS. OF course, created q1te gufaw, but when
he followed his proposition up by crying out, "Who's
got any money! want 500, 900, ana III give
Eighth for it,' he got so badly Rooted at that he
rolled himself up in his overcoaU and slid round the
corner.
IL was feared al one time that the tirhtness of the
market would become so great before evening that
GREAT MANY FAILURES
would ensue, but fortunately when the last Board
call was made the panic mad completely ceased and
money was easily obtained At seven and SIX
neenth to an eighth. 1t is generally believed
fhat most Of the contracts made during the
day VIII be comp omised, SO that half
pf one per cent VIII be the rule by which
they will be settled. In connection with the panic,
(which, though short lived created great deal OF
pOss in various quarters. it may be said that there
kRaS a rumOr duling the day that
TIE CANADIAN BANKS
1ad played into the hands OF the bear clique and
had boarded up all the gold they could lay their hands
upon, and had deposited their in tnis city.
As they have no right to bank here in the way they
Are alleged to have DONE IL Is given out that the
Dlstrict Attorney will be called upon to take action
In the matter and prosecute all the parties con-
cerned.