The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1901-09-13
The Wall Street Panic.
BY Frederick Upham Adams.


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Frederick Upham adams has given 70
he world in his THE Kidnapped Million
aires" published by the Lothrop compa-
nv. Boston, one OF those stories that both
please and instruct. and yet which sell
classed as great literary productions; The
story Is laid about Wall street and hinges
upon the panic OF few weeks ago. For
characters the author has selected Wall
street miUionaires, newspaper editors and
reporters. sailors. and a pretty girl. One
of the younger generations OF milionaires
j. suffering from mild form OF dementia.
Ma while in this condition entices other
Influential fnanciers aboard his yacht and
THEN carries them captive 70 a point on
the coast OF Mexico from which they can
not escape. The remainder OF the story
Is woven about the efforts of New York
newspaper 70 find these captive Million
aires and their final return. The book Is
Interesting not so much because OF the
plot. but because OF the clear insight the
author gives his readers OF the business
methods ~ Wall street. In this he thor
orghiy understands his subject. and
handles 4 with vivid description that
Zion 70 the lay reader. We reproduce be-
low, with the permission Of the publish
ers, The chapter in the volume descriptive
os the scenes on the New York stock ex-
there:
WHAT happened on this famous
w Tuesday has been lightly
touched on in the opening chapter of
his 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 s75o,0oo to $1,000. 900, and IL was
strongly intima ed that he would live
TO regret the unwarranted scare he
had precipitated. The Record had
an illustration proving that il Mr..
kent's winnings were in 81 bills they
would make package three times
the height of the Eiffel tower. and
that t 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
important spectators made the cir
cult of the hotels and clubs in search
OF the financial giants Of Wall street.
such as were interviewed protested
utter ignorance of the cause Of the
decline. Mr.. Kent was not to be
tound at any Of the places he was wont
70 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
MS usual appearance at his favorite
clnb. The morrow was anticipated
with dread by those who had trailcd
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
us splendid crops and telegraphed
buying orders in generous volume.
me galleries around the trading floor
OF tbs exchange were crowded with
me 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
pore the names of the important trad
ing stocks.
nd you ever make the experiment
with iron filings and a magnet? Place
such filings on . sheet of paper and
pass a magnet under the paper. The
iiny bits Of metal will mass themselves
a peculiar and irregular figures. Al
me magnet moves, Kaleidoscope
sshangcs will be effected. Individual
niings will detach themselves from
'ne mass and hy to another.
such was the scene on the door Of |
ne New York Stock exchange. The |
treat gong sounded. The murmur he
anne as the roar Of a freight tram |
~ u dashes past the echoing walls Of |
station. At the signal Of the gong |
thousand well-dressed men became |
nanacs. Their faces grew purple.
MADNESS glared from their eyes. They
ssault one another. In their dcmonia-
a. fury coats were ripped from shout
crs, hats crushed, and scarfs torn |
NO shreds. With waving arms and
Ntendcd fingers, with voices rasping
nriii, vibrant. hcarse, thunderous,
nenacing, incoherent--it was the in
arnation of riot. the sublimated e.
ence Of disorder. At times a man
quo se seen hghting his why cut q !