The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-21

evenings at the hotels up town. Nor can they
have slept much since this terrible storm BURST
scattering wrecks on every side and darkening
the vista Of the future.
The scene on the floor was pretty much similar
to that Of the day before; probably trine wilder
and more irregular. AS an instance OF the utter
Generalization among the operators Lake shore
was selling at SO in one corner OF the room, while
at the same moment IS was being offered twenty
feet away in another group OF addle-headed bro
kers. What wonder II the management OF the
Stock Exchange concluded in the end TO close The
doors OF the institution and wait f0r the turpiu
waters to settle and grow clearf AS RUE
the men (yOung for the most part VINO c0nducc
the stock market come to the work oil buying ana
selling every morning with trim elegance VI
broken broken they live and feast we'll IL may be said
that the youth OF Wall street. hard as they Struggle
in the Exchange and the Gold Room shouting tnem-
selves hoarse from day to day and keeping up
severe tension OF the faculties, yet i've lree anu
easy life. They look upon the world as morass,
they who step lightly through IT iare the best;
In dress or features yesterday. Ihey were
DaSea w sns snr
stocks and margins. They rushed into the
unkempt unwashed unrereshed, desperately
under the weather, and most unhappy every way:
nsy to s.a at
to have acquired more demOniac quality than
hitherto. In five minutes after this crowd assem-
perfectly unnteigible to the strangers ear. When
great shrill clamor. mounted Up from the
shross OF score OF wlld v ana apparently gh h
heard to strike in like. the bray of loco
motive IN concert concert Of tin WHISTLES This This
me bass. Then a .faisetto screamed out
above tue deep rumble OF SOUNDS. ana made tsel
practice OF surmounting, by the peculiar pitch OF
the voice, the great babel OF voices is
training to reach perfection The widest efforts Of
the widest tribe OF barbarlans could hardly eclipse
the tremendous din that prevailed II they shouted
till the crack of Doom. The gallery was thrOnged,
and several ladies were there-as much novelty
to see in that particular place as q blush rose in
sembng Of the Board that the President, In his
usual firm and unruf1ed manner, raped emphat.
ically with his gavel and abated the fierce roar OF
voices to low murmur Then the people on the ne
floor crowded forward towards the Presidents
desk and unusual silence followed.
The President announced that the government
would accept proposals for $40, 0OO, 600 bonds at
noon. The news was received with thunders OF
reclamation, which lasted but brief time, for the
brokers put too high an estimate on the value OF
the Meeting moments, and were soon at their
work again. The next statement was:-'I have
O. G; White Co., No. Is New, street, have sus-
pended payment" said the Vice President. The
audience received the news without any mark OF
emotion, and were about to recommence the
babble Of b BUSINESS when another announcement
was read out that Ketchum 4 Belknap, of
ony bre tme eIapsed and the
crowd on the moor was looking more and more be-
wildered, when the gavel came down with an I'M
perative rap, and clear voice sang out, civilian
G. Moorhead Co.. OF No. 20 Wall street, have sls-
pended payment.o
These three announcements, coming one on top
OF the other, raised something that resembled
howl from the mob. 1t was simultaneous burst
OF sound rom hundred Threats and might have
meant anything and everything.
The work OF buying and selling started
airesn with more vim than ever, and when
was of the boar entered
the hall and hurriedly advanced to the
desk repeated rappings with the gavel secured
comparative silence, and then the President an
nounced tnat by his order the Exchange was de-
clared closed until such time as he should declare.
roof followed, and terrific rush for the doors was
made Out swept che stream OF life into the
crowded street. and soon the news spread all over
the neghborhoOd that the Stock Exchange was
closed, when To many was great relief
The Union Trust Company.
The Union Trust Company announced in the
early forenoon that they were compelled to sus-
pend ''until Monday, at ten A. NJ" on the day
previous, it will be remembered, the run on the
bank was promptly met by the officers, and just as
fast as depostors came along with their checks
they were paid. Indeed the promptness with
which every demand upon them was met resulted
finally in u sort of reaction among the very de-
positors and heavy ones at tha:) who had already
drawn the full amount OF their credit, and many
OF them before the closing hour OF the bank re-
turned and redeposited what they had previously
drawn out. rhe announcement OF the suspension
this morning was therefore
QUITE SURPRISE TO DEPoSIToRs
but strange as 1t may seem, there was
little or no excitement about the building. All the
rumors that were set ahoat and printed during the
day that "a surgng crowd of depositors sur
rounded the building all Sides" were just so
much "bosh.n The general unconcern was aston
lshing. DepostOrs came in to talk with the
officers, and went out again as cheerful looking
though all they had to do was to draw their checks
for any amount and have them cashed on the spot.
A certain party, who has his place OF business in
the immediate vicinity OF the company's Office, be-
coming aware of this general feeling OF confidence,
nailed notice on telegraph pole that he would
''BUY CuECKs'' ON THE COMPANY;
and buy he did all the afternoon at the general
average OF seventy-ive cents on the dollar. Many
persons who were sadly in need OF money found
that they could easily get their checks cashed at
this and other places so long as the checks were
certified; and certi1cations were freely given by
the bank clerks, who knew the deposltors perso-
nally and were familiar with amounts credited to
them on the ledgers. The feeling OF confidence
among the depositors had been engendered 1t w0s
by no less bait than that Commodore
Vanderbilt had put in an appearance at the
Office at an early hour, and, what Is
sual with him, had made no attempt
to keep out of the view of the public. He passed
in and several times, looking as placid and
placent, and smoking his cigar with as much nom
chalance. as though Central was being quoted at
200 and greenbacks were greater than the demand.
he refused 10 talk about the fairs OF tie company
when questioned. He ana MI. Worcester the
treasurer OF the Central road, and several OF the
directors OF the company were closeted together
during the forenoon and when the Commodore
went away he appeared In the very best OF humcr.
1t was rumored that ne had made arrangements
with the directors, by which they could without
doubt
on Monday morning. Mr.. Schell all day long
looked calm and undisturbed; but Mr.. Schen is
man whose feelings, as a general thing are not
easily detected by his outward look. No one had a
doubt but that he felt the suspension Of the COM
pany very keenly At any rate he refused most
positively to talk about its affairs. He simply con-
tented himself with saying TO HERALD reporter
who questioned him on the subject:-"rhe suspen.
sion Is only temporary and everything will be all
right nv MOnday,u To questions put to him as