 The stock closed at $ 30 on Tuesday and fell to $ 10 by Wednesday ( Oct. 16 ) . Otto Heinze was ruined . The stock of United Copper was traded outside the hall of the New York Stock Exchange , literally an outdoor market " on the curb " ( this curb market would later become the American Stock Exchange ) . After the crash , The Wall Street Journal reported , " Never has there been such wild scenes on the Curb , so say the oldest veterans of the outside market " . 
