One of the syndicate brokers who sat by Wolf, opened the ball by
offering two hundred shares of Atchison at $15.
“Taken,” cried Morning, from his seat.
“Five hundred Atchison at $15½,” said the broker.
“Taken,” replied Morning.
A shade of uneasiness covered the features of the broker, but, in
response to a gesture from Wolf, he called again:—
“One thousand Atchison offered at $16.”
“Taken,” said Morning.
The broker dropped into his seat and mopped his face with his
handkerchief.
“Any further offers of Atchison for sale?” cried the caller.
And there was no reply.
“Two hundred Atchison, Brown to Morning, at $15; five hundred Atchison,
Brown to Morning, at $15½; one thousand Atchison, Brown to Morning, at
$16. Are there further bids for Atchison?” said the caller.
Wolf arose and cried, “Fifteen dollars is offered for one thousand
Atchison.”
There was no higher offer, but the caller did not proceed to cry the
next stock on the list. Somehow everybody seemed to feel that a crisis
had been reached; it was in the air, and, amidst a hushed and expectant
silence unprecedented in the history of the New York Stock and Exchange
Board, the voice of David Morning rang out like a trumpet.
“I will give,” said he, “$30 per share for the whole or any portion of
the capital stock of the Atchison, Topeka, and Santa Fe Railroad
Company.”
Then pandemonium reigned. The quick wit of the stockbrokers comprehended
the situation in an instant. It was all as clear to them as if it had
been written and printed. They knew that Claybank, Wolf, and Gray had
joined forces, locked up the currency, brought about a panic, broken
down the market, and ruined half the street. They knew that the country
was prosperous, the mines prolific, and the crops good. They knew that
the depression in prices was wholly artificial, and that it must, sooner
or later, be followed by a reaction and restoration of values, and they
had so advised their customers, but they supposed that the period of
such reaction was wholly within the control of Gray, Claybank, and Wolf.