Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-05-27
THE So CERTIFICATES.

IHE @lU CEkIlElCAIE
Tho Banks Dip In Lively--Men and Women
Boys and Girls Employed by the Hum
dred-Tho Post ONCE Taken by storm
Future Arrangements.
There was an astonishing scene at the st.
Paul post Office yesterday morning. It was
announced that $40, 900 of the ten dollar re-
funding certificates would be put on sale at
8 o'clock. The syndicate in New York having
made corner on all the National banks in the
country by taking the entire issue of four per
cent. bonds. the banks, Is q measure of
ten dollar certificates which can be exchanged
for bonds. Az the banks must either put up
four per cent. bonds - security for their circu-
lation, in place Of the called bonds, or if they
do not supply their place go without interest
after the 1st of July, it becomes considerable
OF an object to obtain the bonds or their
equivalent In order to bring the government
cided to issue forty million dollars in ten dol
lar certificates, making popular loan
which could take the place Of savings
banks, etc. The sale of these certificates closes
this week and the banks having been cornered
by the syndicates are now turning in and try
tificates.
Up to Saturday the sale in st. Paul has been
reasonably quiet Either the interve ntion of
the Sabbath or some other cause aroused the
horny-handed bankers to put forth their big
ticks for the Monday onslaught. By tine rules
highest amount any one person is allowed to
buy at one time, but the same person may
buy repeatedly during the same day if he can
secure a second or third turn. The bankers
accordingly employed men and women and
boys and girls, Unfortunately to buy for
them. They form in line, or attempt to, in
the corridor and about forty at time were
approach the table where the sale was taking
place bank officer or clerk supplied each one
with 800, and the accrued interest, which on
yesterday was sixty-two cents. Then the pur-
chase is made, the bank clerk or officer Watching
to secure the certificate as quick the purchaser
has been Is cents an hour, but yesterday the
First National bank saw. Is cents and went it
better, paying each one so cents for each 300
worth they could manage to buy. The sale did
not begin until 9 o'clock, but at 6 o'clock there
was large crowd in attendance to secure
places in the line. The First National, having
been left on Saturday, resolved not to be out
bank had 800 purchasers on hand.
The Second National and Merchants
National each had small armies in the field
while the German American and Farmers &
Mechanics, though not national banks, could
not resist the temptation to take hand in the
scrimmage. As the hour for the sale approached
the crowd increased and by 9 o'clock there were
probably 1000 persons, participants and spec
ulators, in and about the building The spa
cious corridor was jammed almost to suffOca-
ton and the crowd became almost an uncon-
trollable mob. The rush wss SO
AI~A "a r. \. - -
line, and though admitted by the police and
postofice authorities only in single file, they
surged up to the door in lines ten or twenty
wide. In some instances the police had to
resort to harsh measures. One man was laid
out fat by polceman's billy, the policeman
thinking from his manner that he was about
to draw revolver. Another was dubbed on
ing and jerking about of those who would
not behave was too numerous too mention.
Sharp practice was almost endless. One
bank had forty boys in line at twenty five
cents per hour, and the agent of another bank
hired the entire gang at fifty cents for each
forty girls to march in together, and they
were the only ones who did not have to fight
for position in the line. Those who had been
in once would surge up to the door second
time and manage to crowd into the line
again, while others in the rear had
otOOA LUZ uOuI6 WAGuOut SctG1uS III at d11s II
was literally every fellow for himself and the
devil take the hindmost. All postoffice bust
ness was suspended. DR.. Day and all his
clerks could not clear q passage way to the
boxes and mail could neither be delivered or
received There was imminent danger that
the crowd would break down the large glass
windows in the corridor. The moro certifcatel
the crowd seemed to become. At a quarter o.
eleven DR.. Day notified the rear 0f the line to
leave rs there we're not enough left to supply
those in advance. About hundred retired on
this invitation. Ten minutes later he notified
what had been the middle of the line that the.
| might as we'll 60 and another hundred depart
ed. Five minutes later he told the head of tn
line that the certificates were all gene, qualify
ing la Pinafore by saying ''nearl,
all" The doctor proved very true prophet
for not o-ly were there none for tho outsid
line after he began his notification, but twent,
or thirty who had secured admittance to tn
postmasters Office filed out empty handed
At ten minutes past eleven the sale wa
closed, and the bankers began to gather ri
their bags of money which they had been m
able to use, an! the bags of certificates whic
they had bagged, and departed. There wa
probably one hundred thousand dollars in tn
bags of the horny hand bank grangers, read
ter of fact but $37, 900 were sold, the remain
ing ga, 600 being reserved for quiet sales t
s saT1s WIZ io"iy "i'" - pu''n''o I'VE 'nenu
Tt,e.. 500. o,o-4 a.. -. fo,,,,,, -, :,
HE hnndrs5 dailsr. vnrts md Jv ~
out surrendering, but, If 90, the party losin ii,
prefers to keep still rather than have the jol
on him.
DR.. Day is getting his second wind to-da
but expects to be able to resume the sale t
morrow. He don't propose to blockade Il
building again and accordingly ma kes the fo