The New York herald., 1871-10-13

fHE UPS AND DOWNS OF A DAY.
The Market Prolonged Into the
Night Time.
Sc Bulls and Bears Under the
G6slight.

since the first news Of the Chicago nre there have
been murmurinRs OF upheavals IN Wall street.
During the days while the unfortunate city was
burning into ashes cool heads used to speculation
IN money matters were looking ahead, some 10 see
ruin and desolation 10 themselves others to see now
ihey might profit by their neighbors' misfortunes.
Plots were laid for attack ana defence: plans were
e0gQ0eied 70 ruin or grow rich, But the undercur-
ftt[ or ---4s-sssS "a 80 q -
.-~.- MoNEYED MEMS THOUGHTS
did not come TO the surface. II was. a. II were,
before baite the laying Of all the liues and the
seizDg Of all the points necessary 10 cope with ond
defeat the enemy. Not until yesterday morning.
however, were the first rnmbings Of this financial
volcano neard, bus when their first sound was
sudible men began to feel what was coming and TO
prepare for the worst. ..tt
When the Stock Exchange opened yesterday
morning there was hardly anything unusual visible
In ihe countcnances Of thoe accustomed to attend
there. PIacidity marked their features and smiles
All, salutalions III The usual way characterized the
assembling OF the members OF the Board. But
The keen observer might have detected beneath the
-YTnE pLAND APPEARANCE OF THE MAN OF MONEY,
b something which told that ut heart there was
cancer fostering, which would eat It's way out 70
public notice. and which, SO long as the promoting
causes In existence, would continue to spread,
~
business opened IN the usual way. Bids were
made, were taken, were noted anu order prevailed.
I'm ODD screech from an excited buyer or seller is
mot unusual In the Stock Exchange; aad for some
timc everything went as pleasantly possible. But
little by little,
THE ENTHUSIASM OF .aoLD"
was created, f0stcred nurturcd and tanned into
live expression OF what-was SO deep beneath the
smiling exterior. Flaming eyes toid how deep was
the passion smoldcring in the money mems hearts.
II was not long before the excitement became more
expanded, and people not very much interested cvi-
0ently saw That tempest was gathering. Men be-
gan 10 LOOK hercely earnest, seemingly to forget
Fhat they were saying and doing Enthusiasm
grew into
DESPERATION,
desperation into frenzy; AMI there was evident in
the mad. movements OF the members wild despair
that an impending dire fatality was looming over
them ana that ruin might DC o result
TINS continued for some time, and thcn there was
, ui, during which IL seemed, from the taclturn
uclncanor VI the assembiagc that LHcre was
AHDDEN MEANING IN TIE PAUSE,
Which no one cared 10 name.
For awhile the usual course OF business went on
AMI there seemed to be no astonishing develop
ments In the course things were taking. II was
plain that stocks were falling; that some people
were losing money fast; thar more money to be
lost. But the burden was borne bravely and no
DDe WINGED. Cold went up; stocks went down,
and were going down lower. Another III seized
1he Board, and again these few hundred men
RoARED AND SCREAMED, YELLED AND vouFERATED
III The top OF their voices In sheer madHess ior some
unknown calamity, which all felt seemed to feel,
and yet we're impotent to stay or relieve. Again
anu again during the forenoon hours did the 70 par
Oxysms OF passion break ont; again and again did
Ihcy subsde into unexplained qute, ude-a sldler
exhibition in the very silence than IN the furious
Efforts to below forth some signs OF the raging fire
burning within them.
At length the money market eased up, and there
was palpable rest in the room. Great, strong men;
hard wiry, sinewy men; old venerable men, and
Bmart youths bent on fortune making-all seemed
70 want to rest and chilly as was the morning air
ana
TREMBLING AS WERE TIE LIMBS OF THE EXCITED
CROWD,
nj wiped the perspirafion from their faces and
sought relief from the terrible ordeal TO nerve and
brain they had Leen undergoing.
In the afternoon tho Board Opened with more
1ecorous characteristics. During the recess time
had been given to ascertain that many rumors
whispered into the ears OF the lighting bulls and
bears had not been found TO be beyond doubt
Many O! the most serious suspicious were found to
be groundless. The names OF houses mad been
given as -
which were perfectly solvent and were probably cer-
tain to remain So Insurance offices and banks and
mercantile houses named as on the verge Of dis
Aster were still considered sufficiently solvent TO be
able to weather the storm Stories that fitted around
about attacks on banks imbroelios arising out OF
the municipal muddle, the Impeachment OF Connolly,
the new developments regarding Tweed and other
imaginary difficulties, were al found to have no
more serious stable foundation than the lispngs
and inuendoes Of brokers and brokers' clerks the
street. To ascertain, then, that so far
RUIN HAD NOT TAKEN HOLD
among the Wall street fnancers, and that no
solid reason had as yet been advanced to disturb
the equanimity Of either bun bear was SUN.
lcient, after the stormy scene OF the morning,
10 produce more decorous conduct In the
Board room, and to effect a reconciliation
between the rapacious ANIMALS Of deadly enmity.
The truth 10 that during the afternoon everything
was quiet both In the Board and the street.
No casual observer. looking on from the gallery OF
the Gold Room. or viewing the large room OF the
'Steck Exchange, would ever dream that there was
A SPARK STILL LEFT LIGHTING
Among the surgng crowds which at any moment
might burst into q raging fire OF devastating mean.
1pg. stocks bought and sold as II no heavy pail
hung over the ncads Of buyers and sellers-as II
shcre we're no bealing hearts that could NOT be
stllled In the fever for money The afternoon wore
Un very pleasantly, and those VINO feared u storm
coming before the closing Of the Boards felt they
were disappointed.
But there was no forgetting the great calamity at
Chicago. Men, keen In the calculation or loss and
gain could not cast aside 20 easily the great heavy
weight that had been growing heavier and heavier
hour BY nour since
THE BURNING OF THE dARDEN CITY
began. Men who had been thinking necessarily OF
what might be and what might not be- OF how direct
losses might produce indirect losses, Of how pari
arguments should hold good lin their case as well as
In the case or others all the world over-could not
20 easily extinguisn that little smouldering flame In
aheir breasts which was ready at VIII TO bring ruin
and lifelon desolation In its trail. How true this
was aid not want long waiting for exemplincation.
Inaf &c the bYnkera and bankers were leaving the