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

p : sllov Ies..ass.. vao had psosnosticstsd
s'0'0''s rs ys % - SsssuuS Or h. m.
vas sSs nv, Sea n "a wi ssssSss Am i the
golng 70 be moro or les Affected, and Z the Ire 20
really e serious ,s. = the soD papers p nos s
only lose the debts already due them but also this
como, aud perhaps longer. A good many OF these
merchants VIII necessarily be unable to bear the
least seriously. perhaps though probably most I'M
medtately, stocks and values OF all Kinds Will be ser
ousy AFFECTED. Just think how many Of the principal
railroad lines make Chicago one OF their main points
OF depenaence for trafic and freight. At first, at
any rate, there win be but very scanty tolls for
margin Of profit, and ocK6olders dsgusted at the
prospect win sell out az any price Whatever tnas
may DC a''aina no1n novs, novs,
This gloomy forecast OF what the day would bring
forth was indeed fulfilled 80 far as wall street was
concerned. During the nrst hour or 80 the brokers
make the best Of things But the price Of STOCKS,
niled the air, as they trembled down the Their
m0meter OF quotations with Q constant ana
noon, however, the excitement had fairly declared
itself For weeks the market has been largely 9
bull market with moderate ana very nse err,
amount OF assistance TO the cliqueS BY '0u1lde"
speculators. These timid operators at once began
to sell, when the market assumed .
ana IN. n., nrce fs,rlv - ro;n11 vou,d have
moved ;s.s;st!Siy forward q rather aoxnxsrd. y
mai nc-ever v.c hcnrv scvravssod Nv evsr
darker and darker reports Of the extent OF the con-
Narration and OF the ntsle prospect there was Of
between two and three the street fairy grew wild
with the last agony OF excitement. The Stock Elk
as s snr o seene me acor We
alone that the business OF the day was peculiarly
grave ANA important Usually the routine
many : pleasant auip' and NOT a lew few
,Sa Inps :. ss pIan.S ana ne afeam 2.
sparkling bubble Of mrsS nssSlns . nom its rcId
now THEY iooKsD.
annety, and nervous, restless movements Of hand
aoa frame, and many Wild yen 10 hard
hesokened the advent Of serious crisis. Here and
snole pcrnaps some fortunate gambler. VINO nad
S0e me-, s9e a1 ST wa, Ss'e0 w1 nls
greatly agltntod to oomplacenty enjoy their win.
1ingA me volume Of business was I'M
b n serious and sober earnest bent
on o9ymg ana selling a. well - bidding and shout
treble voices Of the boytsn messengers screamed out
dBuncs nom amidst she hubbub 70 their respective
S%p'oysn 2,r they nad :, order e se II
clique asi 70 boldly shoulder immense additions 70
their burdens. They stood mostly In
silently marking down their purchases and now
bring abous general rally and again give tone to
the market r6S0lute ed0rt OF this character was
made about quarter to three, and was for brief
season, OF ten minutes perhaps. moderately success
1u-that u. there was an Improvement all round Of
about one per cent; but confidence was again
shaken BY the arrival OF later kilograms from the
doomed city. and there was another tumble IN rates.
AT tn! WORST.
Every nve minutes the market grew more and
more gloomy and depressed, and at one time-say
between half-past three and f0ur-the Indications
even menaced che speedy coming OF that insane
m0n0manla known as . panic. BY quarter to four
ra1es nau lson nom Tour 70 ton per cent Lake Shore
and western Union having shown especial signs Of