Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-11-22
THE GREAT CRASH.
Scenes in Wednesdays Board
Graphically Described.
GLAZIER & co. ON THE RAGGED
EDGE.
The Feeling Against skae and
Flood.

Tne fecAhmG Against SkWe ana
Flood.
Wednesday was the most serious day Of
the great stock panic. The scenes in the
Board are thus graphically portrayed by
the Geographic correspondent Of the vir-
ginia Chronicle:
This is another day Of ruin and disaster.
The reaction which set in yesterday after
noon after the terrible midday break was
fairly sustained this morning, and though
prices were not materially advanced there
was a healthy undertone to the market;
but Immediately after the first call came a
notice from the Nevada Bank, which was
served on every broker doing business with
it, to walk up to the captains Office and
make margins good. 1t was another turn
Of the screw, and it squeezed the street
like another turn Of the screw fetches the
juice in a cider press. Such a wall On
went up Instantly Sierra Nevada
dropped from 101 to "a, Union Con. from
"a TO 70, Ophir to 40, Mexican to SO.
Stocks conld hardly he given away in the
street. When the regular Board met, the
news Of the squeeze was we'll scattered.
and the few remaining
MARGIN HOLDERS WERE Thrown OVERHEARD,
And without mercy. There was a dead
silence in the lobby, and the only sign Of
activity was among a mot Of pale-faced
and eager brokers, whose only idea was,
"Sell Sell /" kilograms from the mine
were passed from hand to band, SAYING.
1.-THE 2l00 IL looking fine, and the 2200
simply immense" but it had no more effect
than a human sigh against a hurricane. A
lingering smile from The lobby was the
only greeting the telegram met with.
'If the crosscut was in solid silver you
could not stop this" said an old broker.
The old man is going after the Jews, and
it will take the money Of the R~othschilds to
stop it,"
The first sale Of Oplir was made at 80,
and down came the price to 81. Mexican
broke to 35, Gould Il Curry, under enor-
nous sales, to ga /; Best 4 Belcher to 10,
and so on down through the water stocks.
Shares we're piled out and sold for what
they would bring.
"'Sierra Nevada" said the caller at last.
There was a moments deathly stiffness,
and then a roar came that shook the build
ing.
SUCH A RAsTIc CALL
I have never seen 80, rs. 10. 65. co, and
the stock came pouring out In blocks.
"They have got 'em now r. yelled an
adhcrent Of Nevada block in the lobby,
and at oncc there was q mad rush for
the fellow. and only that he skunk way
did he escape q lively hustling out Of
doors.
Then came Union Consolidated. and it
was apparent that a sustaining force was at
work there. The stock broke, but not near
80 badly. Opening at IS it touched so.
broke again to 55, and closed at Sc, the boz
nanza brokers taking everything offered at
those figures.
The whole list. after tliis, came down by
the run, and the Board closed OF . deep
feeling Of gloom and desperation.
There are
NJ OF A FAILURE
OF the house Of Glazier & Co., but such
rumors must be received with canton. 1
have no time to verify it before this must
go. Other houses stand up under the
racket well. They took no chances on
Sierra Nevada or Union accounts from the
ot0AH hiiA Nv iitQ uist SiHu ~ y uauSfi DtSIu
to sell out margin stocks.
WHO MADE MONEY.
Operating brokers, such as Morrow &
Schmitt, have made money by the decline,
and all is serene. Erlich, it is now known.
has been q heavy seller for two days
presumably for Skac's ~account. The only
n there is n doubt about is Williams.
but he wears n smiling face.
This morning Mr.. Flood telegraphed
Mr.. Skae, 'Wiil you allow Osbiston to
visit the crosscuts to-day, and oblige me? Z"
The answer came back from Oshiston:
"Skae refuses" And then the old man
went for blood. The story comes to me as
straight as a string.
1t is true that there are half a dozen
old Wall-streetcrs here who are operating
with the GOODNESS and dash of Pine street
operators. l hear of one who within
two days. through the house of Breckin-
ridge 4 Yost, has cleared up S67 900; and
another being called on for mud planked
up u New York draft for $40, 900 with the
nerve OF an old Comstockcr. lie was short
OF the market 2, 1000 shares at 80, and this
morning filed at 65 and GO. There is
fierce indignation expressed here at
COMMODORE sKAE,
Who is squarely accused Of treachery and
making common cause with the enemy.
against the Hebrew element. II Johnnie
were ON Pine street as l write this, instead
Of a champagne banquet, / fear he would
be introduced to Reno's tar-bucket.
There is also much feeling expressed
against Nevada block, and if Mr.. Flood
would avoid q popular demonstration he
will give the screw . turn backward. How
ever. this is only talk, and by tomorrow,
II the market improves, all will be serene.
After the Board there was no further
break, but everything was sadly democrat
lied.
am informed now that Skae has recon
sidered his refusal, and that Osbiston will
visit the mine this afternoon and report.
0niia Temo-