The Superior times. [volume] (Superior, Wis.) 1870-1912, 1871-10-28
THE COLLAPSE IN WALL STREET.

Ihe .s9a ini1'9 of the Fuilurcs-hro we
to have Anofhex Black Fr,da :-i,s :
susance stocks not even Looked at.
From the n. Y. Sun, llth
Long before the opening of the Stock
Exchange yesterday, groups of brokers
were assembled III Broad and Wall
streets, eagerly discussing the situation.
= hold one hundred and fifty shares
OF Lake Shore, gentlemen, F." said heavy
blonde with auburn whiskers land i
viii hold it if nothing is left of Chicago
but the sewers"
No reply was heard, but the portal OF
the Stock Exchange was raised, and the
Sun reporter was swept in with the
crowd. Lake Shore, Northwestern,
common and preferred) and Western
cnlon were simultaneously offered by
thirty different voices. A thousand
shares put Northwestern preferred on
the market st 81. 1t stood at 90I on
Tuesday. Lake shore, from 1861, was
disposed of at 50, and 200 shares of the
WESTERN UNION TELEGRAPH
were sold OF 80 rs The blonde man
with the auburn whiskers soon became
infected with the excitement, and dis
posed Of his Lake Shore.
Since the day when SO many unwarv
capitalists were wrecked an Rock Island
shoals, there has been no nearer APP
proach to panic than yesterday. All
Western stocks, were affected and
there was general rush to sell at any
sacrifice.
Some of the brokers, in the frenzy
caused by their losses, actually swore at
Heaven for inficting the Chicago ca
lamity, and one expressed a hope that
the whole id creation would burn
now, for he
HADN'T THING LEFT To LOSE "
Toward noon it became evident that
the affected stocks were not likely to
rally much during the day, and that
somebody would have to give in.
Bankers and brokers rushed hithcr and
thltheT, trying to sell Lake Shore, Wa
bash and Northwestern at something
near the par value, but the buyers saw
their necessity and the quotations con
tinued tofall. Some insurance stock
was offered on the street, but every
body said, 8 None forme." Al no
THE FAILURES WE'RE ANNOUNCED
81 Comblos 4 Co, - New street, bank
tra AMI brokers L, ). Munroe, broker,
NV Street, and Anthony Y. y. Van
! yck, broker, s. Exchange Place,
\ party of MI Van Dyck's creditors
hurried 10 his Office, followed by d SUI
reporter. As the latter entered, one OF
Nj Van Dyck S friends Was standing
by, while another was sternly asking
him how much per cent. he intended f.
pay.
Mir Van Dvek said he wanted the
people to understand through the Sun
that he had failed through the rascality
OF person for whom he had pur-
chased
LOCO SHARES CF LAKE SHORE
nt los, and 700 Northwestern preferred
al 6ess, the purchaser having IN conse-
queuce OF the general panic repudiated
the contract.
Nr. Camolos, who was President Of
the Gold Board, told the reporter that
he had sent in his resignation. Mr..
Munroe said he had nothing to say.
The Stock Exchange continued
throughout the afternoon the scene of
lndescribable excitement. and when
the door was lowered at half-past five
q crowd filled the streets, thinking and
TALKING of the morrow 1t was the
generally expressed opinion that the
worst had not vet come, and that SO far
a. Western stocks were concerned the
bottom OF the market would fall cut.