Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-02-13
ST. LOUIS EXCITED.
Almost a Panic on Change Wild Men Let
Loose and Pandemoniun Reigns.
[St. Louis Special, Feb. 10.]

Sented scenes OF wild excitement this morning
that have never before been seen in this mar
ket. A bowling, cursing mob filled "the
pen," gathered on and around the steps, and
for period of half an hour or so the most
terrific confusion prevailed, and it seemed as
though pandemonium had broken loose. The
members assembled at an early hour in the
lobby of the exchange, and, save the unusual
excitement and anxiety depicted on every coun-
tenance, the assembly was an orderly one. The
leading operators were canvassing the situa.
ton. They all saw its gravity, and knew that
something must be dooa to check the panic
that had struck the market.
THE THREE FAILURES OF YESTERDAY
and the crippled condition in which some
of the houses were thought to be increased
the anxiety felt. Calls for additional margins
on option deals had been tremendous this
morning, amounting to 100000 if not more.
1t was not known, of course, whether the
''longs" had responded to these calls, but it
was felt that if the market were allowed to
of many and that more financial wrecks would
be seen in this market than ever was known
before in its history. After consultation
among themselves,
THE LEADING OPERATORS
facility agreed to stop all regular trading in
options on the floor, only making purchases
and sales in settlement, thus settling most of
the outstanding contracts and giving every
one an opportunity to even up. With this I'M
derstanding the operators went upon the
floor. Here the "shorts" were doomed to re-
ceive a surprise that fairly lifted them out of
the confident self-possession they felt in secur-
ity of their position and profits. The crowd
had fairly got into the pen and prepared to
trade when broker, who is said to be s'long,"
broke into wild shouts of "Give 80 for March
wheat, any way, in settlement or regular, l
don't care which--give So" Some more of
the bulls took up the cry, and in second the
"shOrts" found the market jumping up on
them three to four cents bushel.
THEN THE CIRCUS COMMENCED.
Enraged at what they thought to be a
breach of promise on the bulls part, the
"shorts" let loose their voices at the top of
their lungs in their efforts to hold off the ex-
pected down. Pale with anger and with
flashing eyes the two factions confronted one
another. Howls, yGlls, curses, rent the airs
The crowd was struggling mob of wild men
with brandishing arms, shaking fingers, and
bandying epitheIs that, in cooler blood, they
would have been heartily ashamed Of. The
largest "short'' here threw himself into the
vortex of the bustling crowd, and, pale with
anger, commenced denouncing the bulls for
their attempt to force the market up. s.You
agreed" he shouted, "to stop trading and
stop this ruin, but you come up here
and try to take advantage of us. But,
by the eternal God, I'll break this
you.'' Two of the members got in
volved in
WORDY DISPUTE
that very nearly ended in a fist fight. the
party who was short growing so beside him
self with anger that he sprang forward and
caught his opponent by the coat collar, and
with hand uplifted was about to strike him,
at the same time telling him to pay him the
money he already owed from his other fail
ures. The "long" was eager for the fray, and
after lnsinuating that he would cut the heart
of the "short," made suspicious movement
with his hand to his pocket. Friends jumped
in here and parted the excited men, but for
some time it looked as though there would
be free fight. Every one was excited to the
highest pitch, and it needed only blow to
be struck to precipltate q sfrst-class scrim-
mage. Finally calmer feeling was established,
though every now and then there was an out
break from some eXeitable party, when he
found it impossible to make a trade. The
greatest feeling seemed to be over the action
been known for some time that
A STRONG CLIQUE
had possession of that deal, and was attempt
ing to corner the market. February has been
held up five to six cents above the next option,
and the parties who were short found it i'm.
possible to get settlements out of the ''longs."
The shorts were in no mood to brook any long
standing off of the "longs," and they demanded
,af fhoxo dor 10 Ia
settle up all their contracts. The "longs,"
however, would not do this. To give an IN
stance, February wheat ''short" went to one
of the clique and offered to SETTLE 81 will
buy" said the ''long," sat $137.'' "Why,"
remarked the ''short,' "that is not the mar
ket. 1t was offered on the call at S1.34x ;"
eyes," sarcastically returned the other, ssthat
was wind. This is wheat and negotiations
stopped right there. An agreement was at
''longs" to do most of their trading in set
Element. Some operators refused new bust
ness altogether, and would only trade where
they could settle out contracts.
BY THIS MEANS THE PANIC WAS CHECKED,
and healthier feeling developed prices show
ing great improvement over the low rates
of yesterday, and a more confident feeling was
observable. Trading, however, was compare
lively small, and at prices jumping half a cent
at time, frequently, as an operator would
give little attention to fraction or even a
full cent VIXEN he saw chance to make an
advantageous settlement. Undoubtedly the
course pursued by the operators in thus trad
ing chiefly in the settlement of contracts was
the only thing that stopped a
panic and prevented the ruin of
many. The "shorts'' deserve great credit
for agreeing to the proposition--in fact,
deserving of much more praise than the
s'longs." The Chicago market was lower,
and reports from all other points were of
decidedly discouraging nature. If the
"shorts'' had so wished they had the game in
their own hands, and could undoubtedly have
mashed the market to point where utter ruin
would have struck most of the ''longs.' In
stead of Selling this advantage, they magma.
nimously made the first proposition to stop
regular trading and try to settle up all the
contracts possible. A leading dealer here,
being asked if he thought there would be any
more failures, replied, "That depends"
Rose Eytinge.
In speaking of the performance of Rose Ey-
tinge in "Felicia," to be presented at the Opera
house the last of this week the ST Toujs