New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-24
TROr-RIE BORROWED OVER NIGHT.


THE FIFTH AVENUE HOTEL THRoNGED-A GREAT
FINANCIAL CRASH PREDICTED-THE FAILING OF
ALARM SPREADING
Beside about the usual three score and ten
Of the heavy dealers Wast., the Fifth Avenue Hotel
lobDes filed last evening with large number of
panicstricken brokers' clerks mystifed strangers mer
chants and many who have lost their fortunes within
the last three four days. The crowd very large
and the scenes of sunday night renewed
in a measure. Groups Of manufacturers, merchants
shippers and bankers lounged about the edges OF the
strong discussing quietly the wants OF the day, and
exchanging opinions to the outlook from their several
points OF view The magnets of the evening were, how
ever the scattered knots OF beardless bankers and
brokers' clerks, whose assumed knowledge trans
parent ignorance attracted many curious lookers-on
and policemen were frequently called upon to dispense
the noisy throng In the parlors above there not
a few familiar faces, and many not so familiar, but
OF whom considerable Is known. Senator
Morton appeared to give only slight part
Of mis- attention the exciting scenes enactng so near
him. and ex-senator Reverdy johnson evidently found
his own company pleasant than that below, for
he ventured down stairs only once Oliver Ames and
the Hon. John b. Alley also often seen in company
Three classes OF largely composed the noisy crowd
that swayed through the l0bbles and readngToOms OF
the hotel the first beiDgHtbe reckless men who have
brought on the present panic, and who were
10 all appearances very gloomy, though the character
tbatit was fictitious depression, and that these men
wished their associates good and bad 10 be dragged
down with them. The second class was comprised OF
the sterling manufacturers and merchants VINO were
lond md plain their expressions OF Indignation at the
wful and mercless practices OF the stock gamblers,
whom they denounced as the evil genh OF low prices
and honest trade. Money making straggers made up
the last class OF which large number are III the CITY,
The have come here with their pockets well hed with
, nuch enyied greenbacks and expect 10 return with
heavy purses Compared with the assembase OF Sunday
NIGHT that of last evening less frenzed and also OF
much less Importance. Snatches OF conversation VIII
be found below.
RICHARD sCHEIL KNOWS WHERE 1T BEGAN
Richard scheu, seemingyn no very joyous mood, was
making stless trips between the main lobby and the
har.room and when addressed by TRIBUNE reporter
xpressed his entire ignOranc Of the state OF affairs In
Wallst.
"Wbere is all this going TO end Mr.. Schellf'
"Ican'tsay! No can. But know where 1t began
where, Mr.. Shelf"
Tho ansver was inaudibe but Mr. schell, In reply to
anotber question: said that he thought Clews was a
gerry nice fellow and he sorry 20 hear OF his failure
lie WAS not prepared say that he thought there would
| be more failures to-day.
HENRY CAREY DEEoUNcRs FICTITIOUS GOVERN
MENT POLICY.
! A reporter of THE TRIBUNE meeting Henry
Carey Of Albany at the Fifth Avenue Hotel gained from
him expression OF opinion as 10 the present sc
Of affairs Mr. Carey remarked that this he could give
from really disinterested point Of view He had just
returned from long vacation In the West had not 0
| contract on hand, not debt TO pay, ana u
! the contrary found himself In position u
| extend pecuniary aid to some OF his friends
The near future fearful 20 contemplate as regarded
the heavier business firms, stl 1t was only the fulhl
men of prophecies by him at least four years ago
The leading houses must fall ono after another. drag
ng down each other in the tumble. Everyone In debt
bankers brokers' mercantile houses and banks them
selves, unable 10 negotiate securities, must neces
sarily suspend. The banks, national, state anC
aungs, even all others might stave this OH To-
a time, but suspension must ultimately ioh0"
IL was the result OF dealing and over speou
ation the forcing upon the market OF securities repre-
entiug value OF only half their face II was the resul
OF TOO much railroad building, the negotiation OF rail-
road bonds, unredeemable at call, more particularly
this latter, when business men, parting with rea
securities for this wild cat stock. found themselve
pressed unable TO the return OF their loan
This was especially the ease with Henry Clews Go
aud the sufferers. Suspensions must 10 How
rapid succession until the real value OF everything wa
representedtl could buy beef for ~ cents nsea
OF 30 cents, butter for 10 cents instead Of 40 cent
W,fcred stocks must 10 eKgungcd from the market.