Northern Pacific corner triggers Wall Street panic
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
The New York Herald banner headline of May 9, 1901, summed up the popular view: “GIANTS OF WALL STREET, IN FIERCE BATTLE FOR MASTERY, PRECIPITATE CRASH THAT BRINGS RUIN TO HORDE OF PYGMIES.”63 The devil-angel nature of Pierpont Morgan was such that he alone started and stopped panics.
chapter: 5. Corner