The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1873-10-03
THE GREAT PANIC.
Interesting Scenes and Inoidnets.
THE PANIC AT THE FIFTH AVENUE
HOTEL.

THE PANIC AT THE FIFTH AYENUI
HOTEL.
From the New York Herald.
The eXaltati1n of the crash came
at midnight in the Fifth Avenue Ho-
tel. For five hours a dense mass OF
well dressed men had been jostling
one another in the corridors of the
hotel. In the bar room an angry
moi clamored for gin and seltzer
for rye whiskeys, for brandy and so
da, for Santa Cruz cocktails, and for
"a small bottle of wine" These
were the drinks that assimulated to
the palates of the unfortunate fnan-
ciers. 1t is a strange thing about
this mob of men who do business IN
Wall Street until four O'clock of eY-
cry afternoon, that they should con
gregate at the Fifth Avenue Hotel
in times of panic to do themselves
harm.
The Herald reporter walked among
the swarming mad crowd. There
were over thousand male beings in
the hotel. At the clerks Office in
the hotel line Of men were trying
to send cards to people whom they
knew but indiferently. In the room
where are the files Of newspapers
which are never read and where hui
manity gazes at photographs in
blank, stolid way, there were three
hundred men. There was a great
amount of financial slang among
these people:
"That's Henry Clews," said one
fellow.
"There's Vermilyea," said another.
"These are all frightened and
scared; what will they do to-mor-
roWY said another.
And still the crowd pressed. At
the porch of the hotel there were q
great number of persons who were
eager to talk to every individual who
had sense to think and speak.
"The presidents of the national
banks will meet tomorrow and
they will stop this communistic bust
ness"
'Let them stop it." said a stout
athletic fellow, who looked as if he
had eaten al OK.
Mr.. Kiernan, broker, stated to
the Herald reporter, that "the street
was feverish in many ways; but he
would recommend that every man
in the street should pay his debts,
and the earliest time he did it would
be his best reference"
At IL o'clock, the Fifth Avenue
Hotel, there was so much confusion
and dismay among the brokers and
brokers' clerks that the majority of
the guests of the house retired to
bed. Bradleigh, the English Repub-
lican, stated to friend that "he was
astonished, and he had never seen
such an excited class of people be-
fore"
THE DAY AT TIE STOCK EXCHANGE.
Special to the Cicinnnati Commercial.
There was a whirl like amaelstrom
all day long at the stock Exchange,
a desperate earnestness, not unmixed
with a slight element of joviality
pervaded the whole days business.
1t was like a fight among madmen.
The members had all congregated
before the hour of opening, and the
roar had begun regardless of the
stated hour. A large number of wo.
men were seated in the spectators
gallery enjoying the fun. The Sec
retary's place, the galleries, and the
area way were filed at an early hour.
the excited crowd inside
were all varieties of the man of
speculation. A few individuals sat
apart, as if fearing to enter the dan
gerous whirl, although they were
known to have boldly ventured and
heavily won at. many previous tourn-
aments. A few others had flung
themselves into the cushioned seats
about the room, as if exhausted or
in the contest. BuC with
out thought of these the main crowd
surged forth. Groups were planted
about the room with hands and
voices raised screaming into the ears
of their neighbOrs, and shaking two,
three or four fingers in the faces of
their next friends without cessation,
except the seconds required to jot
4 sale or an item in their books.
Above this uproar the President Of
the exchange sat in immovable Sc
renity rising only occasionally to
read the kilograms that were flutter-
ing in upon him as he hammered
on his desk. The operators surged
like flock of sheep to his neighbor-
hood, and listened to the first few
words of the dispatch, and then i'm
patient, went away again to the
ceaseless squabble. When thenames
Of failing firms were read, there were
sometimes a prolonged whistle and
a heightened mutter, and when the
names of Greenleaf, Norris & Co.,
and Jacob Little q Co., were an
nounced, there was something like a
wall, for they were old and well be-
loved firms on Wall street. But this
ebullition of feeling was exceedingly
and the mob were in the
maelstrom again before the wall
ceased. I'm fact" said an observer
in one Of his lucid moments, "there's
q good deal of brOtherly cOnsidera-
ton displayed. We feel charitable
about this thing, because you know
it is not like Black Friday you
know this a square bust"
Stocks continued to jump and tum-
Bile, and dealers fought just as des-
perately over Central at sc as 81,
and Wabash was as choice an invest
ment at 80 as 464. Harlem fell
from 120 to 30, and the bulls endured
all the agonies that might be imag-
ined for q bull mind under the cir
cumstances. But the fight continued
as unrelentingly as ever.
Will these results of the day were
passing the publication of failures
from the Presidents desk, ,wenton tel
ling of brethren falling in the strife
but the warfare went on a. the same
and even the gong at three O'Clock
failed to disperse the crowd. A
loud hurrah hailed it, and hats were
thrown in the air and cheers given
as if the spectators were glad the
day was over, but nevertheless they
ooptinuod IN ynol-o hide an0 Offar.