The hub and source of discord the Panic of 1907 presented was none other than New York City. At the time, New York was a bustling city, similar to the present, where many of the mentioned trades and exchanges occurred, namely the exchange of railroad bonds between New York and London securities markets. This is also where the Stock Exchange was headquartered and when word first spread that the stock market had plummeted. The people who were major catalysts in the increase in public distrust were also stationed there.