Lights and Shadows of New York Life: or, the Sights and Sensations of the Great CityMcCabe, James Dabney
History
Lights and Shadows of New York Life: or, the Sights and Sensations of the Great City
McCabe, James Dabney
New York (N.Y.) -- Description and travel; New York (N.Y.) -- Social life and customs -- 19th century
Then came the terrific bid of Albert
Speyer for any number of millions at 160. William Parks sold instantly
two millions and a half in one lot. Yet the bids so far from yielding
rose to 161, 162, 162.5. For five minutes the Board reeled under the
ferocity of the attack. Seconds became hours. The agony of Wellington
awaiting Blucher was in the souls of the Bears. Then a broker, reported
to be acting for Baring & Brothers, at London, sold five millions to the
clique at the top price of the day. Hallgarten followed; and as the
shorts were gathering courage, the certain news that the Secretary of the
Treasury had come to the rescue swept through the chamber, gold fell from
160 to 140, and thence, with hardly the interval of one quotation, to
133. The end had come, and the exhausted operators streamed out of the
stifling hall into the fresh air of the street. To them, however, came
no peace. In some offices customers by dozens, whose margins were
irrevocably burnt away in the smelting-furnace of the Gold Board,
confronted their dealers with taunts and threats of violence for their
treachery. In others the nucleus of mobs began to form, and, as the day
wore off, Broad street had the aspect of a riot. Huge masses of men
gathered before the doorway of Smith, Gould, Martin & Co., and Heath &
Co. Fisk was assaulted, and his life threatened. Deputy-sheriffs and
police officers appeared on the scene. In Brooklyn a company of troops
were held in readiness to march upon Wall street.
"When night came, Broad street and its vicinity saw an unwonted sight.
The silence and the darkness which ever rests over the lower city after
seven of the evening, was broken by the blaze of gas-light from a hundred
windows, and the footfall of clerks hurrying from a hasty repast back to
their desks. Until long after Trinity bells pealed out the dawn of a new
day, men bent over their books, scrutinized the Clearing-House statement
for the morrow, took what thought was possible for the future. At the
Gold Exchange Bank the weary accountants were making ineffective efforts
to complete Thursday's business. That toilful midnight, at the close of
the last great passion-day of the bullion-worshippers, will be ever
memorable for its anxieties and unsatisfying anguish.
[Picture: BROAD STREET ON BLACK FRIDAY.]
Public-domain text, read in full here on John Shaqi.
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