Workday Wednesday – The markets on this day in history, 1874

I occasionally enjoy reading some of the news articles that were printed around the time my ancestors lived. I find it helps to give me a larger view of what may have been affecting their lives.

The following is an abstract from an article reporting on the stock market on this day in history, 1874:

Monday, Sept. 28 – PM

The Wall street Markets have been generally strong and active to-day as to results, though there has been considerable eccentricity and the changes have been rapid in succession. During the earlier business hours Gold and Foreign Exchange were firm, while the Share market was weaker and erratic, but in the after-noon and latest dealings the conditions were reversed, Gold and Exchange being weak and the railway and miscellaneous speculative stocks strong and active. The market became unsettled quite early, on a report that Commodore Vanderbilt was seriously ill, but this was “authoritatively” denied at noon, and a firmer tone succeeded. Later it became known that flags were flying at half-mast at the Grand Central Depot, which fact was for a time unexplained, though it finally was accounted for by the announcement that the Engineer of the New-York Central, Mr. I. C. Buckhout, was dead. This was the last subject of any moment which exercised any depressing influence on the Stock market, however, and with the great doubts and fears allayed, the normal strong tone soon reasserted itself.

“Financial Affairs. Sales at the Stock Exchange – Sept. 28.” New York Times (1857-1922); September 29, 1874; ProQuest Historical Newspapers: The New York Times (1851-2007) with Index (1851-1993), pg. 9.

Did you have ancestors who may have read this article? How may this news have affected them?

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