The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-10-10

nasevaa slyaafaess tsss i n16e necessarily rs>ain
- ~ a ! 90 s:Ss,sm an 'sssnst bsesss
nv s x'S p1a: Sss Ss s5eas "a e
! 49, 49, 1922. ~ he's come sseses thanf ~
Mr. CooIs-Yes.- perhaps 20; but donr think
anyDody. even ~ Duluth: WIN rejoice over the I'm
konx tha old sasss; '.Its : BAD wind MAJ blows
n1esa, U so{ ~ go sys ,s g.; ,o1
indicator indicated that while ne reporter ana Mr..
Cooke were chatting gold mad fallen one per cont
tak q Hatch.
Turning round the CORNER into Nassau street tho
reporter entered the once OF Messrs. Fisk Hatch,
the well-known banking arm. He found Mr.. Fisk
In his back ONCE chatting to anosher gentleman,
who was busly writing as . desk. On stating the
reporters business and asking Mr.. Fisk for hts
opinion that gentleman said ne thought the chicago
calamity ought not TO have much eject on financial
Affairs In New York. -.
THE BEARS AND vULrURBs
would, no doubt try to create panic, but Mr.. Fisk
uid not believe they would DO successful the first
thing al good man In New York will do u TO help
Chicago and to make their losses fall as lightly as
possible on those who have suffered. he
thought Il was mos generally apprenended
that the disaster would create any imam
ctal crisis whatsoever In New York, and he oid mot
sse WY Z should either: he HAD Just heard nom
e e ssa e =
'n sss ss9s @0l soedsn
sSss saougnt o. every dnanos i' house as In n
FAR we can help those who lost their all or mostly
&C. ana y TO the credit OF New York that such u
vornilye q Ce.-H0wes q Macy.
Crossing the street. the reporter entered tho hand
some ofaces Of Messrs. vermilye 90. and asked 70
seo Mr.. vermilye A middle sized and middle aged
gentleman appeared and said Mr.. vermilye had
Just gone nome
RePoRrRR-Oan see member Of the arm. sirs
FNANcTHR-I am member Of the nrm, sir.
REPoRTER-Thank You, sir. come from tho
HERALD TO ask the opinion OF your distinguished
financial affairs OF New York.
FMANCWR-I can give no opinion, sir; am
SIR to have an op.ni SOse especially a on such an i'm
pertant matter a. this. fThe gentleman looked old
enough to Be the reporters father
REPORTER-YOu don't expect Is viii have any
enect on your house, DO you, STIR
FINANcIIR-Oh. no. not q an don't think It
little financial ripple here for few days. but Il
Will blow over then. ~
80 na Yea lie
opinion with Jay Cooke, Harvey Fisk ana all the
other old bankers have met this evening.
At the first sentence OF the last speech the
''young'' nnancler looked angry, ct the second he
smiled as II nightly pleased, and tho reporter
which he again rounded the corner and entered the
once OF HoweS d Macy, on Wall street. He found Mr.
oCs but sss he
give no opinion whatever ON the alabsorhing topic.
because he could form none until ne heard further
from the scene Of the disaster.
Ex-DTayor Opdyke and the President and
Secretary Of tho Stock Exchnsse.
Mr.. George Opdyke was yesterday afternoon
seated In his once ct the corner OF Nassau and
Cedar streets. ~ an oracle OF mercantile wisdom
lew men enjoy deservedly higher reputation.
He received the HERALD representative very
kindly. Other visitors were numerous and seemed
bent upon anxious errands
The HHRALD reporter Immediately introduced
THE ALIrABs0RBNG TOPIC OF THE HOUR.
Mr.. OPDYKE-A deep excitement is felt by oil com.
mercial men over this overwhelming calamity
fallen upon Chicago. l to-day telegraphed to the
Mayor OF chicago that q meeting OF the Chamber OF
Commerce win be held tomorrow TO take action for
the aid Of the amicted people. I have no doubt
that the-cau for aid will be very literally responded
to by our merchants.
REPORrER-What win be the enect Of this event
TIE BUSINESS INTERESTS OF NEW YORK;
Mr.. OPDYKE-The effect viii depend ON the extent
OF the Calamity. II the whole business part or the
must be immense No doubt It win shake
@ Involve 9Ss q e. Of
ruin. naYe been told to-day that one Of our larg-
II such Is the case the company must sink. Many
companies which profess TO do no business outside
OF New YORK must lose largely BY having insured
REPoRrER-Have you heard OF any failures as
sMr.. opDYKE-No. 1t is best you know, not to
magnify the disaster too much. These things look
darkest at first, and after the smoke clears away
BRIGHTER AND LESS DREADFUL
] hope IL will prove SO now. But stocks are all
ing 70 have tune FOR ssn no sSous
The reporter next encountered Mr.. Clerke,
PRESIDENT OF THE STOCK EXCHANGE
ana M. Ogden White, the secretary. In the hall Of
the of1ces OF Mr.. Cerke. on Broad street, the fol-
lowing short conversation TOOK place.
Mr.. CLERKE-I think the business men OF New
York have good cause TO tremble. HNN ~
allied with those OF Chicago the two cities I are
Ike twin sisters. Everything that AFFECTS Chicago
Mr. CLERKE-There are no values which this event
does not anect. Railroad stocks are tumblng down.
even the strongest and most popular. It makes
or non dividend paying. Bonds and all the strong
est securities are going far below par Some OF the
Oldest and coolest headed men on Wall street place
the loss involved at over st H fae- y
FIVE HUNDRED MILLIONS OF DOLLARS.
think 1t win not be over nftv millions.
Mr.. WHrE-But you cannot tell. We are SO
mixed up with the interests OF Chicago We would
have had dozen failures to-day II strong men were
not standing the Drunt. he mtt NNe
Mr.. CLEBKE-Yes, that's 1t. Our strongest men
are supporting the weaker. ALB EE1 HNHAf *
MI. wHTE-But tomorrow there viii undoubt-
edly be 4Ms NMt M
FIFTY FAILURES.
AS soon as the loss Is defined the ruin will become
tangible
Mr.. CLERKE-I don't believe there is single man
connected with Wall street, however coOl-headed
and prudent who won't lose a great par: OF his
means. II Is not only the spectators, hut the men
who never gamble--the men who always carry
their wits about them-that must suffer- This Is an
event against which no provision could be made,
and the crisis will be worse one than that 81.