The Ely miner., 1901-09-13

handles it with q vivid description that
ton to the lay reader. We reproduce be-
low, with the permission of the publish
ers. the chapter in the volume descriptive
of the scenes on the New York stock ex-
change during the day of the recent panic
there:
{KTHAT happened on this famous
T w Tuesday has been lightly
touched on in the opening chapter of
this history. The morning papers had
devoted considerable space TO the
bear furry" in Wall street. There
were guarded illusions to the coup
performed by Mr.. Kent, who had con-
Quoted his operations with little at
tempt to disguise his attitude. His
profits were variously estimated at
from $750,000 to $3,000,00O, and it was
strongly intimated that he would live
to regret the unwarranted scare he
had precipitated. The Record had
an illustration proving that if Mr..
Kent's winnings were in 81 bills they
would make package three times
the height of the Eiffel tower, and
that it would take two express cars to
hold them.
This pleased the public, and recon-
ciled them to the losses which had
been sustained by the small speculat-
orS.
On the preceding evening the ex-
citement on the Stock exchange had
been transferred to the big hotels and
fashionable cafes uptown. The more
MT I,{o ~
cult of the hotels and clubs in search
of the financial giants of Wall street.
Such as were interviewed professed
utter ignorance of the cause of the
decline. Mr.. Kent was not to be
found at any of the places he was wont
to frequent and several anxious fol-
lowers called up his residence by tel
ephone, but were told that he had not
yet arrived. Mr.. Morton did not make
his usual appearance at his favorite
club. The morrow was anticipated
with dread by those who had trailed
in on the much-heralded boom.
On the following Tuesday morning
London ignored the New York break
in prices and opened strong. Chicago
and the speculative west looked on
it's splendid crops and telegraphed
buying orders in generous volume.
The galleries around the trading floor
of the exchange were crowded with
the sight-seers who are always in
force when the market is excited. The
hand on the big clock slowly ap-
preached the hour of ten. The thou
sand or more brokers gravitated to-
wards the various standards which
bore the names of the important trad
ing stocks.
Did you ever make the experiment
with iron filings and magnet? Place
such filings on sheet of paper and
pass magnet under the paper. The
tiny bits of metal will mass themselves
in peculiar and irregular figures. AS
the magnet moves, Kaleidoscope
changes will be effected. Individual
filings will detach themselves from
one mass and fly to another.
Such was the scene on the floor of
the New York Stock exchange. The
great gong sounded. The murmur he
came as the roar of freight train
as it dashes past the echoing walls of
a station. At the signal of the gong
a thousand well-dressed men became
maniacs. Their faces grew purple.
Madness glared from their eyes. They
assault one another. In their demonia-
cal fury coats were ripped from shoul-
ders, hats crushed, and scarfs torn
into shreds. With waving arms and
extended fingers, with voices rasping
shrill, vibrant, hoarse, thunderous,
menacing, incoherent-it was the liz
carnation of riot. the sublimated es-
sence of disorder. At times a man
could be seen fighting his way out OF