[Illustration:
FIFTY
YEARS IN
WALL STREET
_By_
HENRY CLEWS, LL.D.
]
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[Illustration:
_Eng. by E. G. Williams & Bro. N.Y._
_Henry Clews_
]
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FIFTY YEARS IN
WALL STREET
“TWENTY-EIGHT YEARS IN WALL STREET,” REVISED
AND ENLARGED BY A RÉSUMÉ OF THE PAST
TWENTY-TWO YEARS, MAKING A RECORD
OF FIFTY YEARS IN WALL STREET
BY
HENRY CLEWS, LL.D.
SUBJECTS THAT ARE OF NECESSITY BRIEFLY TOUCHED
UPON IN ORDER TO KEEP WITHIN THE SCOPE OF THE
PRESENT WORK FIND FULLER EXPOSITION IN THE AUTHOR’S
“WALL STREET POINT OF VIEW,” FOR FURTHER
REFERENCE TO WHICH SEE NOTICE AT THE END
IRVING PUBLISHING COMPANY
POST OFFICE BOX 1915, NEW YORK CITY
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COPYRIGHT, 1908,
BY HENRY CLEWS
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PREFACE BY THE AUTHOR.
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[Illustration]
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15 TO 17 BROAD STREET NEW YORK.
_To My Readers_:
The following pages are intended to throw some light on imperfectly
known events connected with Wall Street speculations and investments,
and also upon the condition and progress of the country from a financial
standpoint, during the fifty years which I have experienced in the great
money center.
The theme is worthy of an abler pen, but in the absence of other
contributors to this branch of our National history, I venture the plain
narrative of an active participator in the financial events of the time
in which I have lived.
I have also made a brief retrospect of the history of Wall Street, and
financial affairs connected therewith since the origin of the Stock
Exchange in New York City.
In sketching the men and events of Wall Street, I have freely employed
the vernacular of the speculative fraternity as being best adapted to a
true picture of their characteristics, although probably not most
consonant with literary propriety.
I have simply attempted to unfold a plain, unvarnished tale, drawing my
material from experience and the records of reliable narrators.
HENRY CLEWS.
=NEW YORK, March 31, 1908.=
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CONTENTS.
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INTRODUCTORY.
PAGE
My Part in Marketing the United States Civil War Loans xxxi
CHAPTER I.
MY DEBUT IN WALL STREET.
Results of the Panic of 1857.—Creating a Revolution in 5
the Methods of Doing Business in Wall Street.—The Old
“Fogies” of the Street, and How They were
Surprised.—Their Prejudices and How they
Originated.—The Struggle of the Young Bloods for
Membership.—The Youthful Element in Finance Peculiar
to this Country.—The Palmy Days of Little, Drew and
Morse.—The Origin of “Corners,” and the “Option”
Limit of Sixty Days