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Panics, Depressions and Economic Crisis Prior to 1930
 
The Panic of 1819
 
Panic and Depression 1832

Panic and Depression 1836

The Panic of 1837

Six Year Depression 1837-1843

The Panic of 1857

Panic and Depression 1869-1871

The Panic of 1873

The Panic of 1893-Financial World

The Panic of 1893-Presidential Papers

The Panic of 1901-Market Fails, Panic Reigns-Part I

The Panic of 1901-Market Fails, Panic Reigns-Part II

The Panic of 1901- At The Stock Exchange

Panic and Depression of 1929

Brief Financial Notes based on 1875-1907

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That the Nation's first presidential mansion, "The Palace," stood at 3 Cherry Street in New York City. The mansion was demolished in 1856, and a granite support of the Brooklyn Bridge now occupies the site.
 

 

 

Who these Northern Pacific losers are is only a matter of conjecture, but rumor is busy with many names. John W. Gates is credited with being short no less than 60,000 shares of the stock 50 points below the close of last night, while a number of Western " plungers" are also declared to be rather heavily involved. Mr. Gates smiles when asked about these stories, and declares that he is not short of the stock, and in fact, was never short a share of stock in his life, except some Sugar, which he was glad to cover without profit. In the meantime, however, he has postponed his European trip.
 
 Isidor Wormser, also credited with being short of the stock, was seen by a New York Times reporter yesterday. "They say you are heavily short, Mr. Wormser," ventured the reporter. "Oh, do they? You don't mean to say so!" was the answer. And then, as he turned to go away, "I have nothing to say."
 
 As for the stories of fortunes made, they are many. According to one report, ex-President Cleveland through a "tip" from Mr. Lamont, had rounded out a cool half million of dollars, while other of Mr. Lamont's friends had also done well. If this is so, it does not agree with the report that the Hill people had sold their stock, for Mr. Lamont is very close to Mr. Hill. However, all this is more or less gossip and cannot be verified. One certain gainer is known. He is John Manning, a well-known broker on the floor, who sold the 2,000 shares of stock yesterday at 180-sold it short, at that-and in less than a minute had bought it back at 160, a clear gain of $20,000.
 
 The amount of money lost by the short side in the stock is variously estimated at from $40,000,000 to $75,000,000. As for actual figures, these will not be obtainable for some time, if ever. Mr. Keene is credited with having enriched himself to the extent of $3,000,000 by the corner. To what extent the syndicate have profited nobody ventures an opinion. Some idea of the added worth of the shares may be gained when it is pointed out that they have enhanced just $50 per share since last Saturday. At a conservative
 estimate 600,000 shares have been traded in the first three days of this week, so that with an increase of $50 per share the long side of the market finished business yesterday about $30,000,000 richer than on Saturday.
 
 Great Fight For Control
 

 As for the talk telling of a great fight for control of the stock between the Morgan-Hill interests on the one side and the Harriman-Kuhn-Loeb-Standard Oil people on the other, nothing definite can be learned. In some parts of the Street the talk of a fight and of a great clash between these powerful interests is credited. In other parts it is ridiculed. One story has it that over 100,000 shares more than the actual capital stock of the company have been bought by the opposing syndicates, and that it is as yet uncertain where control lies.
 
 In this connection a Wall Street news bulletin yesterday published the following as "on authority." " The Northern Pacific situation is this: The Morgan Hill interest some time ago sold a considerable amount of stock. The Harriman syndicate gradually acquired a very large amount of stock, nearly, if not quite, control. Notice was given that this stock had been bought not for war, but to promote harmony. The Morgan-Hill interests did not accept the proposition, but immediately began to buy and have bought in the last few days a very large amount of stock.
 
 "The two interests, Hill-Morgan on one side and Harriman syndicate on the other, have bought more than 100,000 shares more Northern Pacific than there is in existence. It is impossible to tell with certainty which interest has control until it is known which party gets most certificates, and which gets most of settlement of contracts. Obviously one has voting power and one has not.
 
 "Pending developments, stock is being loaned to legitimate borrowers and assurances are given that the books will not be closed immediately, giving time for arbitrage dealers to adjust their balances. Large arbitrage settlements have been made in London, which will materially reduce the borrowing demand from that source."
 
 This, however, is altogether in conflict with the statement of Robert Bacon, a partner of J. Pierpont Morgan, who to a reporter of The New York Times said yesterday: "The Hill-Morgan interests in Northern Pacific are intact." Mr. Hill himself, seen coming out of J. P. Morgan & Co's office at half past 1 o'clock yesterday, and asked about Northern Pacific, replied: " I have not bought a share of Northern Pacific in six months.
 
 
 

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