Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1901-05-15
Crowds Watch the Bedram.

ArOwdS NatCH tine beuiaH.
When the gavel fell for the opening of
the market the largest gallery of the
week was watching the scene. drawn to
the exchange by the hint that there would
be a general crash and many failures.
The first stroke of the gavel was hardly
audible. The second and third were
drowned in storm of vocal uproar that
echoed in the vast building like the hur-
rah of a regiment. 1t was very rude
awakening when the first sale of North
ern Pacific was made at 10. which was
a gain of 90 points.
The worst, however, was yet to come.
There was a let-down to 10 from the
first jump. at which some sorely pressed
bear succeeded in getting 100 shares. On
five additional transactions the price ran
to 205 cash. dropped back to 100 reg
ular" Then the price went on skyward.
No sooner. had the giants of wealth be-
gun once moro the assault upon Northern
Pacific than there was a crash in stocks
which is unequaled in the history of the
exchange All the railroad stocks tum-
bled with one accord save Northern Pa
cifc. which changed hands in lots of
thousands at $780, $500 and 500. A few
years ago this stock vent begging at
$3.50 1t was like a battle scene with
the cries of the wounded and slain now
and then drowned by the shrill cry of vie
tory of those who had prepared them
selves just what took place.
Meanwhile there were rumblings in
other quarters. The rest of the market
opened down from to ii points for all
stocks, railways, industrials and trac-
tions Then there was a slight recovery.
But when the corner in Northern Pacific
reached its zenith there was convul-
siye movement and then came a great
slump in all stocks. Northern Pacific
dropped II points. United States Steel
dropped 46 to 81, catching the longs for
hundreds of thousands. Railway stocks
dropped suddenly and the panic was in
creased until the Stock Exchange became
q pandemonium. Union Pacific fell with
thud from 106 to 50. loss of u points
A slight rally to IS followed. Missouri
Pacific was also panicky and dropped to
%. Atchison promptly followed with a
decline Of points. falling to 81. Ev-
erything was panicky. barring Northern
Pacific. Just before noon four failures
were announced on Change. and other
crashes were momentarily expected.
End Must co,re.
In spite III AiStbia anu t-ApNA'NHNS1 "
warning and prophecy, thousands of men
have overstayed their day in Wall street
and have been ruined. For weeks past
disaster has been foretold for all who
continued to So * the bubble fortune in
the whirl of Wall street speculation. but
like those who tarried in Sodom aud
Gomorrah they preferred TO wait until
she signs Of fire actually came. Then 1t
was too Late.
Whether this IS the ciearins-up storm
or not it is difficult TO say. The madness
of speculation may not yet have run It's
course, and there may he those who will
venture again, when apparent quiet has
been restored. But soon the end will
come. if it be not now Liquidation
must set in. and the people who have
been buying stocks at prices far above
mar. which have never IN their history
Maid a dividend. win begin to inquire
when the dividends viii begin. In the abb
sence OF dividends these stocks must go
back on the market and then commences
The inevitable descent.