A crowd of four to five thousand people, incited by rumors of flour hoarding and high prices, gathered to protest. The rally was organized by the Locofocos, a radical faction of the Democratic Party.
The immediate cause of the riot was the sharp increase in flour prices from $5.62-$7 per barrel to $12, driven by inflation and crop failures. Additionally, the Panic of 1837, exacerbated by President Andrew Jackson's monetary policies, loomed over the economy, contributing to widespread discontent.
The protesters marched to the flour warehouse of Eli Hart & Co., accused of hoarding 53,000 barrels of flour. Despite attempts by the police and the mayor to disperse them, the mob broke into the warehouse, destroying or looting hundreds of barrels of flour and bushels of wheat.
The riot ended by 9 PM after police and militia intervention. About 500 to 600 barrels of flour and a thousand bushels of wheat were destroyed, and 40 people were arrested. In response, a law was quickly passed to increase the police force by 192 officers.