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 harrowing details of bombardment, and the frightful result of those awful petrol bombs. Fire and destruction had been spread broadcast everywhere.

On the Manchester Exchange on Tuesday there was no longer any reason to doubt the accuracy of Sunday's report, and the feeling on 'Change became "panicky." It seemed as though the whole of the ten thousand members had made up their minds to be present. The main entrance in Cross Street was blocked for the greater part of the afternoon, and late comers dodged round to the two entrances in Market Street, and the third in Bank Street, in the hope of squeezing through into the vibrating mass of humanity that filled the floors, the corridors, and the telephone, reading, and writing rooms. The attendants found they had an impossible task set them to make their way to the many lanterns around the vast hall, there to affix the latest messages, recording astounding fluctuations of prices, and now and again some news of the invasion. The master and secretary in the end told the attendants to give up the struggle, and he made his way with difficulty to the topmost balcony, where, above the murmurings of the crowd below, he read the latest bulletins of commercial and general intelligence as they arrived.

But there were no efforts made to do business; and had any of the members felt so inclined, the crush and stress were so great that any attempt to book orders would have ended in failure. In the swaying of the crowd hats were lost and trampled under foot; men whose appearance on 'Change had always been immaculate were to be seen with torn collars and disarranged neckwear. Never before had such a scene been witnessed. Lancashire men had often heard of such a state of things having occurred in the "pit" of the New York Exchange, when wild speculation in cotton was indulged in, but they prided themselves that they were never guilty of such conduct. No matter how the market jumped, they invariably kept their heads, and waited until it assumed its normal condition, and became