Final score: Barnsley 1-1 Walsall
Victor Adeboyejo looked like he had come off the bench to net the winner, scoring his fourth goal of the campaign in the 54th minute, but Andy Cook did the same at the death to punish the Tykes for missed chances.
Angus Seed's side went unbeaten for the opening 10 games 71 years ago and, despite the late disappointment, Daniel Stendel's team have now won four and drawn three to sit third in the League One table.
The stalemate also ensured Stendel equalled the record best league start by a Barnsley boss, which is seven games under the stewardship of Lee Johnson.
Despite an incident in the town centre earlier that morning, Barnsley announced 90 minutes before kick-off that the fixture would go ahead as planned.
When the match did start, Mamadou Thiam volleyed over a Liam Lindsay cross at the back post early on.
Walsall hit back and only a stunning save from Jack Walton denied Morgan Ferrier the opening goal in the 14th minute.
Walton's counterpart Liam Roberts was tested by Kieffer Moore before the hosts were aggrieved not to be awarded a penalty when Mike-Steven Bahre was tripped in the area, with referee Craig Hicks waving away strong appeals.
Roberts prevented Barnsley from taking the lead on the stroke of half-time with a fine save to deny an Ethan Pinnock header at a corner.
Boss Stendel turned to Adeboyejo at the interval, taking off Cameron McGeehan, and the striker soon made an impact by bundling an Alex Mowatt cross home.
The Reds almost doubled their lead but Thiam fired over at the back post after Moore raced down the wing and delivered a fine cross.
Roberts again came to the rescue for Walsall, denying Adeboyejo a second with a brilliant save after Barnsley caught them on the break.
But the Reds were made to pay two minutes from time as Cook, a 81st-minute substitute, turned his man in the box and fired past Walton from seven yards.
Roberts was the hero again at the death for Walsall, somehow pushing a George Moncur deflected shot wide.
Barnsley: Walton, Cavare, Pinnock, Lindsay, Pinillos, McGeehan (Adeboyejo 45), Bahre, Mowatt, Thiam, Moore, Moncur.
Unused subs: Greatorex, Isgrove, Bird, Jackson, Williams, Brown.
Walsall: Roberts, Leahy, Dobson, Guthrie, Devlin, Ginnelly (Cook 81), Ferrier, Fitzwater, Gordon (Morris 85), Osbourne, Ronan.
Unused subs: Dunn, Kouhyar, Sangha, Johnson, Wilson.
Referee: Craig Hicks