Broker-dealer abuses were also of concern.
In 1884, another panic occurred after the failure of the brokerage firm of Grant & Ward in which Ulysses S. Grant, the former president, was a principal. One of his partners was improperly using customer securities to obtain loans.
Other panics followed, including one in 1907 that was touched off by the failure of the Knickerbocker Trust Company. It had been attempting to corner the stock of the United Copper Company.