New-York tribune., 1901-05-11
INCIDENTS OF THE PANIC

THEY TALK IN THOUsANDS-Around the ta-
| BILE at the Waldorf-Astoria Thursday evening were
| gathered John W. Gates, A. A Housman John
| H. DAVIS and some other heavy operators in the
| market The violent break in prices the sub
| Ject under discussion and Russell Sage came in
| for some criticism. Mr. Sage has recently given
out several interviews, saying the market was too
! high. and some think that to a certain extent he
was to blame for the break Il tell you what let
| us do said one of the party. Let us make old
Sage sporty offer for thirty shares of Missouri
Pacific. to be called in five months at lO5. Let's
offer per cent for the call" The others thought
minute ana one of the party said: We'll. that's
smoke mn anG Ti 20 IN IoT ion ten shares" Another
who. who made the original proposition said. We'll.
6oa Gd me me-, IN Tor the other ten bystander who
Il thought those fellows were big opera tors bur
Of the Initiated said contemptuoGsiy: You don't
| Know thelr game When they say thirty shares
they mean thirty thousand. That is a call on thirty
| thousand shares. and / guess that is snort
and walked off. ~'1 0"
| AN AMATEURS LUCK.-There is a man at the
Wadorf-Astoria who is interested in several large
farms out West He had never speculated in the
market but he came here for a vacation The
leVer OF speculation was in the air. and he heard
| OF STOCK samhles on all sides. Finally he thought
! he would try his hand and meeting a man from
the Northwest with whom he was on intimate
| terms. he asked his advice Whether the second
| man mad any actual knowledge of what was TO
come or whether he struck It by accident Is not
known. but he said to his friend Why don't YOU
ouy some Northern Pacifc?" The novice said
no" nluch will IL me?'' His friend said
We'll. 1 would put up twenty points rnarptn inst
ior sa1etys sake" The amateur speculator counted
ms ready cash. and found he had about s14 900
-, ~ ".n. INTO brokers' office and said: Buy me
nt al vne Morthern Pacific that will carry at twenty
Inc Inc next morning he was eating his breakfast IN
said: Noribni bn MS broker rushed in wild eyed and
Is EeIitD .l-n
ht Sna. doE The man dazed but he realized
dashed back into the office and the na9 DIHKer Gfs1e
got tbsa ms breakfast, followed him. When they
go! screamed the amateur and the .,ont ie' mr. mr.
o d out ny that time the price had dropped to
afa ze9 %nat he had netted he walked back 10 the
said .9THGd .ai az MS breakfast cold and finally
Su., Wen, never! and a man who had crsr
heaTd the remark and knew of the Transaction i
either,' 'N d"SD Dody else ever did,
FORTUNATE IN BEING A DOG G-1-bero ,s
guest at the Holland House who is a heavy snec,.
- ne Is also fond of dogs. and has partic,
Ia'H In'eihsent fox terrier. The break on Thurs
uay practically ruined him. and in the ay.,iro, h. .
"'S IN 'he motel as glum and despondept as II 10
possible for a person 20 be under these cfr,,
'"cts. 'Ihe dog seemed to realize that there vvos
cbnnr 'rh'ns Ing wrong and frsked around trying to
SnUt MS master The looked an him r,oi,rn
su{ { and said Well old chap YOU are T1ind
are dog Then 9u a2eT Eight to be nightly glad You
even an iU,e23Hrge believe a dog-and not
started for the bar "' '"a'' And theE he
hFohERS WHO LOST THEIR HEADS e,
great deal Of the panic Of Thursday might bavs
D.n 'E''ted' said member OF the firm OF TaIbot
'"slo, % yesterday. "if 1t had not been for
'"e 4uiiioeF or unseasoned brokers on the Aoo- T
watched them yesterday At the bef1b, y, .h -
Ci''Hl'ht some of the young men lost their baod.
e"''rey' They were throwing away their stoct,s
hhc rubbish. and going crazy because they Gould
not get rid OF them faster. Then there we-e ,ho
m MAN. ~ sue snch a storm Many of them stood holding
keep % them ycnnseF od % men with both trying to
their heads " Ap'iieNced losing
bLACk AND BLUE THURSDAYS vas q,
that the panic came Thursday" asked vo',r,,
man with white waistcoat yesterday Of an elderly
man with white mnstache. Both were s,,,f
IN the bulletin room OF Henry Clews & 60 vratcbtn
two boys deftly slipping the figures on the bIs
blackboard In accordance with the dictum OF an
adjacent ticker
1t simply came" was the answer
but don't panics generally come on Friday
black Friday. you know l thought that was the
unlucky day"
They sometimes come Thursday replied the
man with the white mustache. Such Thursdays
XII XII You YOU outright but bTuise YOU up to make
10y misn you were dead
take nyer and find out"
NN'A-i' 'f+l DUNE II HE COULDN'T GET y
A man about hfty years old. dressed in a straw
nat white tie. duster and other such articles of
tropical attire. dashed up the stairs leading to the
STOCK Exchange yesterday. ana had it not been for
the employees stationed at the door would ba We
rushed right into the surging crowds OF brokers
on the trading floor.
Stand back. stand back shouted one OF the
uniformed corps Cant stay here"
But / came all the way from North Carolina -
was the answer. The balconv's closed and this
Is the only place I en-"
can't help that" replied the man I'm uniform
II you came all the way from Cape Town you
But can get done Just the same" blurted out
the North Caroinian with sag OF his head as
ne beat his retreat down the stairs
CASH PLUS MARGIN.-''Buy on a Margin
exclaimed a broker after noon on THURSDAY
and money AT so per cent? Not much YOU can't
II you will put up the fun cash and a margin he
sides perhaps l can NIL your Order-but / don't
know
STRAIN ON THE ELEVATORS-The eleys-
tors in the Produce Exchange are to be examined
On Thursday they carried at times from forty to
forty-Ne persons each. while they are supposed 70
carry only twenty. The hOisting mechanism is to
be looked over to ascertain Its condition after the
heavy strain AS the orderly at the Broadway
door said Yesterday: Even the machinery got
strained in that Northern Pacific corner"
ENDOWMENT MEETING PUT OFF.