The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1894-04-18
sketch of wan street.

Clapp & Co. give an interesting
account of Wall street in recent letter,
as follows:
Wall street was so named in 1857 by
the Dutch Burghers, who built stock
ade or wall on the north side of the
street to prevent Indians attacking citi-
zens. The British were forced to evacu-
ate in 1854. About six years later,
twenty-four merchants began meeting
under an old cottonwood tree at No. go,
and began buying and selling bank and
public stocks or the revolutionary cur
rency called ''shinplaster.'' May II,
1892, the twenty-four merchants agreed
and signed the following document,
which still holds in force:
"We, the subscribers, brokers for the
purchase and sale of public stock, do
hereby solemnly promise and pledge
ourselves to each other, that we will not
buy or sell from this date for any person
whatsoever, any kind of public stock alta
less rate than one quarter per cent. COM
mission on the specie value of amount;
that we will give a preference to each
OGQ0r III our negotiations. In testimony
whereof we have set our hands this 18th
day of May, at New York, 1892"
Lend. Bleecker, Hugh Smith,
Armstrong Barne Sam. Marsh,
wall, Bernard Hart,
Alexr. ZuntZ, Andrew d. Bantay,
Ephm. Hart, Isaac Lomoz,
Gulian McEvers, Augustus III. Law
Sutton & Hardy, renee,
Benjamin Seixas, John Henry,
John A. Harden A. Mort. Beebee,
brooke, Benjamin w. Nor
Jno. Ferrers, throp,
G.. N. Blinkey, John Bentz,
Peter Inspach, Charles McEvers, jr,
David Reedy, Robinson Harts-
horne.
Dates of various Wall street panics
and important events from 1914 to 1916.
In 1885 the great fire destroyed many
buildings. In 1887 sixty hanks sus-
pended, owing about $15O,O00, 900.
Liabilities of merchants and others in
creased the aggregate to about SAC. .0O0,-
600. The gossip reported of the time
was that E'they were all in the same
boat and paid or collected but one cent
on the dollar, the legal fraternity being
the only ones benefited. In 1857 the
failure of the Ohio Life and Trust COM
pany bank started third extensive
liquidation in America. President
Abraham Lincoln was shot April Is,
1865. Black Friday was September "a,
1869. The ''World's Greatest Fire" was
at Chicago October 8, 1871; Boston's
greatest, November 10, 1872. Jay
Cookies failure, September IS, 1873,
started the fifth period of liquidation.
Specie resumption began January /,
1879, and was followed by great pros
perity. Garfield was shot July 2, 1881,
the Stock Exchange closing its doors ten
days; banks practically suspended pay
ment for forty days. The Barings failed
November Is, 1890. The sixth season
of liquidation began in March, 1898,
Madam Rumor says Washington officials
were drunk with authority. The shrink
age of values in the United States since
then has exceeded the cost of the civil
| war from 1861 to 1865. Trinity church,
on Broadway, faces the head of Wall
street. The land was a gift from Queen
Anne. The present building is the third
one, and was commenced in 1889 and
and was completed in 1916 at cost OF
over $500, 900, exclusive of its furnishings.
The Trinity church property is valued at
many millions of dollars.
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