The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-20
AMONG THE BANKERS AND Bro
KERS.


among finances and nnanciers yesterday, and 1t
vertically looked II the bottom OF all stability had
dropped out and the substance been left to noat Off
on the sea of destruction.
1t may very properly be said that the business OF
the day. yesterday, began at an earlier hour than
usual. Restless and uneasy spirits, who had time
to cogitate over night on Thursdays memorable
events, happenings which engulfed one OF the most
honored and trusted financial firms In the wreck OF
suspension, II not bankruptcy, hied to their places
OF traffic earlier than usual in order to be timely
observers Of the coming battle, and mayhap in all
probability take an active part in the struggle.
Scenes In Brokers' Offices. I
Ten O'Clock was anxiously awaited, and the
various bankers and brokers' offices were filed
with either customers or curiosity seekers. The
stock indicator was jealousy watched for the tni
tial announcements Of quotations. The first click
set everybody in motion. and in order to facilitate
information to the assembled mass, one in the
crowd read of the figures as the instrument tele.
graphed the facts. Halfpast ten arrived, and the
news spread like Gre among dried grass on o
prairie that the great house OF
FISK 4 HATCH FAILED
Dismay was depicted on every countenance, and
to the credit of these sordd spectators be 1t said
that a great deal OF sympathy was likewise ex.
pressed tor the misfortune Of this popular firm.
On all sides the question was asked, how Is 1t pos.
sible that such house must go under, when 1t
was thought to be as firm as rock. Great
heavensi who nextf And where Is all this TO stopY
The whirligg Of time rapidly revolved. and, ut
stated periods, another and yet another failure was
announced. The annotator OF values ground out In
doleul ticks the depreciations in stocks and secur
ties, Western Union, from Its rapid downward
per cent tumble since Thursday was the wonder
ment Of the operator. .l
were composed OF most heterogeneous mass.
Operators In securities as matter Of course, pre-.
dominated, but very large portion OF the assem-.
bes included many prominent merchants who
looked out Of place in such locality, and 1t could
be readily seen from their frantic manner that
they were totally unused To scenes OF excitement.
Their demeanor showed vast contrast to the i'm
mobility OF the hdbitxe OF the Stock Exchange.
The countenance OF the latter was as placid as
rivulet under the moons rays while the former
was flushed and 0verwrought wish nervousness
GEORGE BOLTON ALLEY GO. SUSPENDED
was the next cry. Those unacquainted with the
gentlemen eagerly inquired who they were. The
pedigree OF Mr.. Alley was very soon recounted by
the famous trotter, Dexter-a generous hearted
gentleman and popular operator on Change. War
rem Co. Read Co. Norris NSWa,ss Co.
gene Jackson Co., and so on through the entire
list Of failures, which are fully given in these col
added to che oppression OF the assembled
personages and served to depress financial a1airs
more and more The moment for the close OF bust;
for as a commander OF an army closely pressed by
the enemy prays for the cover Of night to end the
fight. After the closing OF Change II was antict-
pated that the panic would subside and confidence
be restored in anticipation OF quiet days to come.
The Fourth National Bank.
1t being known on the street that Messrs. Fisk
& Hatch were heavy depositors with the Fourth
National Bank, 1t was generally thought that ths
Institution was anected by the suspension Of the
firm. This bank has an extensive patronage nom
brokers, and In such panicky times only whis.
per against the fair fame Of monetary concern
acts IKE magic and instantly initiates against its
credit. Check after check was made out by the
scATeu ueposltors and In less time than II takes to
describe IL the banking house, corner Of Nassau
anu Pine streets, was beseged by hundreds of
anxious persons, each one having In his hand the
sup oI paper upon which the demand upon the bank
ior pay ment was written. Az the minutes wore on
spacious banking door was lled to repletion and IL
became necessary to send for O number OF polfce-
men to regulate the crowd. Gordon of the
knights OF the Locust was established In abort
order and post line arranged In which to approacb
the cashiers counter Mr. Calhoun the Preside nj ~
the bank was sought by HERALD Representative
and found In his ONCE, SUI rounded by Mr. George
Opdyke and other well known financial gentlemen
Mr. Calhoun deprecated the suggestion that the
sudden demand for deposits was anything like a
run and he characterized IL only as an extraordi-
nary desire TO have small checks certified for cur
rent business and TO meet payments OF stocks and
securities, SO rapidly changing hands under the
pressure Of the existing panic. AT I've O'Clock