The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-21
THE RoTToA OF WALL STREET HAD LITERALLY
DROPPED OFT,

and they were all to go with it. For the
moment no one could understand where be
stood. The biggest men and the smallest cut
round to the Stock Exchange, and when its
ponderous doors opened and the first call
was announced the brokers were quaklng III
their shoes, and the noise and miDS!lng OF
tongues were entirely worthy of the ancient
Tower of Babel.
Every body was shouting, nobody listening.
and the president had difficulty in ripping
with his gayel to get the excited creatures
below him to listen 10 his voice. The sus-
pension of Jay Cooke & Co. was then an
nounced, and monstrous yell went UP. and
seemed to literally shake the building ill
which all these mad brokers were for the
moment confined. When toe cali took place
stocks Of all kinds and descriptions came
tumbiiug down ut a frightful rate, and in Il
moment many saw themselves ruined. This
only served to
| INCREASE THE HUBBUB TO A DEN0SIAc EEYEL.
Many tore their hair and ran about rs if
crazy: pushing. battling, shouting, shrieking
to others equally crazy. The Stock EX-
change had lost its head, and the usual pan
denonium of daily occurrence was as mere
music to the noises which were being made.
Everybody was trying to sell, nobody was
willing to buy; and, with the gesticuations
of the principals, the brpathleSS running in
and out Of the clerks, the " tick-tick" of the
tecgmphs, the overwhelming confusion Of
tongues, and the shuttle and pattcr OF the feet
on the stone floors, a stranger might have
well believed himself in nadhouSc. In
| the Gold Exchange the scene was only a
repetition of that occurring in the Stock En-
change, and he excitement was up to fever
heat. But
TIE SCENE OUTSIDE
| did not differ 10 any great extent from that
| occurring ii the Board room. Knots Of peo-
| pie were collected on the street corners and
opposite every house of any renown excl.
| teddy discussing the appalling news. Around
| the business quarters OF Jay Cooke Co.,
on the corner Of Nassau and Wall streets,
| there was dense mass of people. while i'm.
mediateIv around the building was drawn
Gordon Of policemen. looking gloomy
| but earnest, as if they expected some
| trouble ahead. Men were rushing, apX-
| iouS and hurried. every moment up the
steps leading to the banking floor, all with
little slips Of paper in their hands, and few
moments afterwards they would reaDpear,
downcast and creStfallen, their nOn>ucceSs
| imprinted on their countenanceS. 1t was
hard for these men to think that one OF the
largest banking.h houses in the country "a firm
of national reputation) had really failed;
| but the presentation of their little slips OF
| paper at the desks was quite enough. The
suspension was patent and undcniable to
any who chose 10 make The test. But the
crowd remained around the corners, many
| gazing curiollsly into the windows of the
marble building as If wanting to see these
men that could so eonrulse
| TIE GREAT CENTRE OF FINANCE.
Two old men stood near by, one Of them
seemingly Frustrated with despair.
~ have nothing left, John; it was all in
there" said one, pointing to the sign where
BANKING. HOUSE OF JAY COOKE 4 CO."
stood out in gilt letters.
81 wonder whether my bank IS safe,' said
| the other. =" guess my money won't stay
there any longer" And away he went to
draw what lie had out, while the other stood
around eagefly listening 70 i'll that was said.
| hoping against hope.
THE SCENES OF FRIDAY.
| AM-ELSTROM At THE STOCK EXCHANGE
| EXCITING INCIDENTS THE PRODUCE
AND COTTON ENCHANGES-JOY OF TIE
/ BEER CLIQUE.
Telegram IN Baltimore American, oath.
New YoRE. September 19.---Thcrc was Il
whirI like mMIstrom I'LL day long at the
Stock Exchange. Desperate earlestncss, not
unmiyed with Il slight element CT ioviatity,
pcryadcd the whole days business. Ycster-
day it was like fight among madmcn. The
Lnembcrs had I'LL congregated before the
lbour of opening, and the time and hour Of
business had begun regardless Of the stated
hours. The spectators gallery and the
arca-way for the guttcr-Snipes we're filled
from an early hour. \ large number OF
women were seated in the spectators gall
lery, cpinyiu" the Spectacle rs Il hit OF rude
fun. Groups Were planted about the room,
with hands Invoices raised, screaming into
the cars OF their nei9hborS, and shaking two,
three, Or four iiuyerS iii The faces OF their
next friends without cessation, except du-
ring the seconds required to .iOt sale or IN
/ item in their books. Above tits uproar the
president Of the Exchange sat in lilmovahle
serenity. rising only occasionally to read the
kilograms iluttcriD~ in upon him.
A. he hammered on bis desk the operators
surgcd likca flock of sheep to nj neighbour
hood and listened to the first few words OF
| the dispatch, and then implticn!ly were
away again to the ceaSelc,S >iuabblc. When
| the names Of failing firms were read there
was sometimes Il prolonged whistle and a
| Heightened muttcr, and when the names of
| GrccnIcaf, Norris n Co. and Jacob Little Il
| CO. We're announced there was .s 1851
| SOMETHING LIKE A Wall. -.
| for they were old and wcll-beoYcd firms on
| Wall street. But this cbulili0n of feeling
| WAS exceedingly transient, and the mob We: e
| in the mrl>tralna again before the wall
ceased. " In fact" said IN operator i,ls one
| of his lucid moments, there's 4 good
| deal of brotherIy consideration display
ed: we feel charitable about this thing
because it is not like Black Friday; but you
know this is 4 square bust" Stocks con-
tinucd to lump and tumble, and dealers
fought just as desperately over Central at 81,
and Wabash was ~ choice ill investment ut
81 as at lGl.. Harlem lei from l2o to 30, and
tue bulls endured ali the agoncs that might
he IMAGINED for the bull mind under the cir
cumstaucc>. but the fight continued rs unrc-
entincly as ever. With these results the
day passed. The publication OF failures con-
tinucd from the presidents desk. telling OF
brothers fli ling in the strife, but the warfare
went on the same, and even the gong 1T )
/ o'clock failed TO dispcrsc the crowd. y loud
hurlah hailed it, and hats were thrown in
the air, and cheers were given rs IT
7 THE SPECTATORS WE'RE GLAD TIE DAY WAS
OVER,
but, nevertheless, they continued to make
bids and oilers until the officials of the En-
change bad gone and a few watchmen hurled
them ont i'm the rain. The Gold Room repre-
scntcd to some extent the upper end OF the
see-saw, but the solid metal iluctuated with
almost the mercurial friyoity OF paper
stocks. The galleries contained number