Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-09-26
BLACK FRIDAY"
THE FINANCIAL CRASH
Scenes at the Stock Exchange.

each other that everything was going
to smash, and the floor Of the Stock
seemed a pandemonium. To
a stranger it would have seemed as
though
GREAT FREE FIGHT
was in progress. Well men
hurried III and began to scream some
thing that was undoubtedly intelligi-
BILE to those around them, for a circle
was soon formed, and while the new
conner yelled and waved his hand
above his head, the others gesticulated
wildly and shouted as loud as he. All
had memorandum books, and just
about the time an outsider might sup
pose the first blow would surely be
struck all jotted something in their
books and separated to listen to anoth-
er. One broker, tall, dark-complex-
toned man, wearing a white haf, dashed
in, and waving his memorandum book
about as though defying any one to
approach him, began in a squeaking
voice which sounded far above the din
around him to call near him some OF
the most excited ores on the floor.
His eyes flashed as he shook his fist IN
his fellows faces, showed up against
them, and then stepped back. He was
terribly in earnest, and the telegraph
operators, calm, cool, and collected as
ever, wandered around the crowd look
ing over mems shoulders, saying moth
ing to any one, and fastening back to
their instruments to resume the tick
ing which seems never to cease in the
room. A short, thin man with q large
blue neck cloth CRASHED his teeth and
seemed ready to pounce upon the tall,
dark-complexioned man. They adj
vanced toward each other, shaking
their fists and shouting at the top OF
their voices. The bystanders drew
near, and all shouted and raised their
hands. They rubbed up against each
other, and hats were jammed over the
eyes of some. Still
THERE WE'RE NO KEOCKDOWNS,
only jottings in the memorandum
books. Young men stood on the rail
ing and behind it and shouted until
they were hoarse the name OF some
one wanted Uniformed boys, with
small pieces of white paper III their
hands, strobe around with a military
air calling one whom some one else on
the other circle wished to see. Some
laughed and others seemed ready to
shed tears as they graspeG each other.
There were hurried whispers and a
passing of memoranda and then a re-
turn to the terrific shouting. "Yea-
hoo" resounded through the room
followed by a succession of almost I'M
Ineligible words and the babel of
voices; the scrambling about, and the
wild looking countenances, made up a
scene that Il stranger never could
forget.
The presiding officer sat calmly in
his chair, occasionally scanning the cx-
cited crowd and then pleasantly chat
ting with several gentlemen on the
rostrum When the noise was great
est he seemed most happy, and when
he arose about twelve minutes past II,
holding a small piece OF white paper
and with ii 9oodly-sized gavel com
manded or.7er, his eyes fairly twinkled
The shouting ceased for moment and
the brokers, like flock OF shep, drew
near. They were nervous and scarcely
able to stand still, but they kept quiet
long enough to hear that the great
banking house of
JAY COOKE & co. HAD SUSPENDED.
Then they TUNED their backs Oh the
presiding officer. Some yelled louder
than ever, Il few clleered as though
they We're really glad to hear it, while
many sorrowf,liiy shook their heads
4 score Of brokers went from the room
scarcely believing It possible that Jay
Cooke & Co. had been so unfortunate
and FASTENED to the banking house of
that firm. The bootblacks and news
boys were there before thnm AID stood
leaning over the iron railing on the
sidewalk peering into the windows and
saying. Shes busted"
All kinds Of rumOrs were set aioat
in the Room. and nearly every bank
and railroad company was said to have
gone under Henry Clews 4 Co.
George Cpdyl1c, Drexcl. Morgan &
Co., the Pennsylvania Company, and
others were mentioned among tie rest
The Vanderbilt party were doing their
utmost to keep their heads above
water, but their foes were determined
that they should sink, and the fight
became hotter. The cry was. who
will go next 2" The small fry wandered
about exclaiming that they had char
tered a balloon =; that the Street had
been knocked ont OF shape, and that
there was no room for them. They
predicted that every wcll-knnwn firm
in Broad and Wall streets would make
Il grand ascension. This thing viii
stop to-day" said one broker to an
other, contidentially. ''Don't you be-
lievc it, replied the one addressed :;
this is but the beginning. Wait until
tomorrow.
THE THRONG II THE GALLERY,
amol, which were many elegantly
dressed ladies, manifested profound
interest, and when some enthusiastic
broker on the floor threw up lis Lat
and cheered they could not control
themselves and joined in the shout.
One of the oldest brokers in the street
said there had been 10 such panic
since 1857, and that it might be at
ttibutcd to the building of railroads
in advance OF the sale Of bonds, thus
Increasing our liabilities and piIing ND
our indebtedness.
At about half-past , i-ice-prcsident
N-hcclock, who had bat short time
before taken his seat, attired in his
usual faultlcss style. arranged his
white necltic, adjusted his eyeglasses,
and arose. He had small piece OF
paper in his Lett hand. He raised
the gaYel and smilsd. Then he
beat on the desk for order. The
brokers reluctantly checked their
screaming and looked at him. There
was a shuffling Of feet, and the Vice
Presidents deep bass voice could
scarcely be heard. He regretted to
inform the Board that the firm OF Rob
inson & Suydam, - Broad street, had
suspended. Then lie sat down smil-
ing, and the screams Of the brokers
again filed the air. They huddled
together and i'll a moment forgot that
there was one firm less in the street,
so intent were they upon buying or
selling stocks. The ''yahoos" sound
ed louder than ever. The mes scngers
shrieked more fiercely than before,
and the Vice-President twirled his eve
glasses and was happy.
ON THE SIDEWALK
there was a great s1rging crowd. but
the lynx-eyed doorkcepers permitted
none but members to enter. The Gov
erning Committee attempted to hold a
meeting. but quorum could not be
obtained