The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1901-05-18
wan Street History for % Years.

MAY I4th was the 18th anniversary of the
| panic day of 1884. as well as the 50th ami
yersary Of the opening of the Erie Railroad, a
corporation which shares with Reading and
Northern Pacific the credit of causing more
furries in Wall street than any other COM
pany In view of the panic last week this
would seem to be an appropriate time for a
brief review of Wall street speculation. The
following shows at a glance the great days Of
the street during the past GA years
May 10, 1837-All banks suspended pay
ment; 800 failures; general collapse of prices.
August ID, 1851-Panic caused by break in
Erie from 80 to 68a.
August "a, 1857-Faiure of Ohio Life and
Trust Company, with general panic and long
continued depression. In October the banks
suspended payments
March 10. 1864-Panic following period
of wild speculation.
November 6, 1865-Corner in Prairie du
Chen stock; price advanced from 40 to 225.
April, 1S66-Corner in Michigan Southern;
rampant speculation, followed in July Of the.
same year by panic precipitated by failure OF
Overend, Quincy & Co., of London.
January IS, 1867-Big furry, accompanied
by several failures.
November, 1868-Erie cornered, causing
panic in rest of the list. This was the period
of the great Erie wars.
September "a, 1S69-GoId conspiracy ends
in Black Friday panic.
June, l87l-Corner in Rock Island; great
excitement and failures.
October 9, 1871-Flurry caused by Chicago
fire.
September, 1S72-Corner in Erie; many
failures; banks stop their weekly statements.
November 90 1872-Corner in Northwest
ern, which rose from 834 to 23O.
April 26, 1873-Atlantic Bank failed This
was the beginning of the great panic OF that
year.
September 8, legislature of the New
York Warehouse Company.
September IL, 1873-Failure OF the New
York and Midland Railroad.
September IS. 1873-Day of panic and gen
eral collapse; Jay Cooke failed.
September 20, 1873-Stock Exchange was
closed, owing to the excitement.
September %, 1873-Issue of Clearing
House certificates.
October, 1S79-Great boom in stocks, re-
suit of resumption of specie payments.
July =, 1SSl-Shooting of Garfield causes a
furry, and was really the beginning of de
preston that lasted for several years
September, 188l-Hannibal and ST. Joseph
corner. In the same month Henry Willard
engineered his great blind pool in Northern
Pacific.
February %, 18S2-Big break in Richmond
and Danyille, from 219 to 100.
October, 18S3-Flurry, resulting from
Northern Pacific issue of $4,000, 600 bonds.
January. 18S4-Failures of J. j. Cisco Il
Co. and James r. Keene, inauguratlng the
series of great disasters of that year.
Nav 6. 1s84-Failure of Marine Bank.
MAY 8, lsS4-Failure of Grant 4 Ward.
Nav Ia, 18S4-Suspension of Metropolitan
Bank and other institations firms and indl-
viduals
May Is. ls84-Issue of Clearing House loan
certificates.
january, l885-Failure of Henry N Smith
and William Heath Il Co.
July, 1886 Boom caused by New York
Central and West Shore consolidation.
December Is, l885-Sales of stocks reached
l.O95. 900 shares Then the ''record" day.
December 15, 1886-Big day in Reading;
total sales reached ], 199, 942 shares.
November 10, 1890-Baring panic.
November Y, 1s90-Clearing House issues
loan certificates.
February IL, 1892-McLeod Reading deal
day; Reading advanced to IS. Total sales,
I,446, 874
February 90 l89S-ColIapse in Reading;
price declines to 28s. Sales, Az, COL shares,
of which 957 1855 were Reading.
May 8, 1893-Big slump in market; pane
of 1898 sets in.
May 4, lS9s-Colapse in cor'lage; three
firms fail.
June Is, 1893 Clearing House issues loan
certificates.
August 8, 1898 Currency sold at premium.
December 10, 1895-Panic caused by Pres
ident Cleveland's Venezuela message.
December 10, 1899-Big boom in stocks
comes to an end, and British reverses IN
South Africa cause general slump
April 80. 19O1-High water marx of Wall
street bull speculation. Total sales reached
3,270,O0O shares.
Nav 9, 19O1-Northern Pacific corner pre-
cipitates panic General slaughter efprices
and four small failures