The New York herald., 1872-11-23
Excitement and Dismay Among the
Victims Of the s'COrner."
Interviews with the Leading
"Bulls" and "Bears."
A "CoRNER" IN THE GOLD MARKET.
The Historical ssCOrncEs''
of Wall street.
WALL STREET.


FRIDAY, Nov. 22-6P.
On Change to-day cotton only in limited
demand and easy. Flour was firm; wheat and
corn were quiet and easier.
THE FOREIGN Market
Advices by cable report further improvement
In the quotations of the London market and q con-
tinuance Of the easier feeling in money, which is
quoted at a per cent outside OF bank.
MONEY ALTERNATELY STRINGENT AND EASY.
The money market was stringent during the
earlier hours OF the day, but suddenly relaxed
and became extremely easy before the close OF
banking hours The first business was at seven
per cent, coin, from which the rate advanced to
ns high as quarter per cent per diem, equivalent
to 80 per cent per annum. Within the next half
hour, and considerably before three O'Clock, there
was sudden pressure to lend and balances were
placed in this period OF the day at as low as three
per cent
THE EXPLANATION
OF this remarkable fuctuation lies in the manipu-
latiOn OF the gold premium and speculation in the
gold market incidental to and playing an mpor-
tant part, in which was requisite command of
money. The gold pool, in essaying to engineer the
corner in the gold market, of which intention
they had made sign the previous day, were under
the necessity OF locking up the gold fast with
drawn from the market, and to do so had to borrow
money upon 1t as collateral They bought gold
very heavily ali day Thursday, and knowing that
this gold was coming to them through the Gold
Bank to-day they were enabled to
SQUEEZE THE ''sHoRrs,"
who had to make their deliveries through the
Clearing House. To make gold scarce for the Gold
Bank they had, Of course to keep a large proper
ton, If not nearly all, Of their gold in their own
hands; but in endeavoring to find place for it
late In the afternoon were thunderstruck to dis
tanned in circular issued from the Clearing House,
would not lend themselves to any .locking-up
conspiracy such condemned in the circular and
such as would render any bank participating
therein liable TO
EXPULSION From THE CLEARING HOUSE
In the sudden scurry for money caused by the
necessity thus imposed upon them of making a
place ior the gold which they had bought SO liber-
ally the day before money being prime essential
to make good their bank accounts against the
checks they had given the sellers of the gold the
rate on call ran up as narrated to a quarter per
cent for its night, the borrowers hav
ing recourse to the regular open market in which
the stockholders procure their loans from day to
day. This spasm over money reacted and went to
the other extreme OF three per cent per annum,
because OF the pressure OF u supply which pre-
viously had been taken up in carrying gold COM
mercal paper was quoted as before, and foreign
exchange was nominally unchanged; but nothing
was done in the latter in view OF the scarcity OF
cash gold.
ERIE RAILWAY EARNINGS.
The following is the regular return OF estimated
weekly earnings OF the Erie Railway Company
commencing April /, 1872, as compared with last
year,
1871. 1872
For week ending Nov. Is
seven days. ........... $469,239 SAL ,e6e
Previously reported....... u,6Il,7o5 1872 ,s3t
Total earnings since
April l............... .S12, l40, 9A $12, IA S0l
Increase for week.. 272i
Increase from April TO
date. 1856
GOVERNMENTS STEADY.
The government list was steady and almost un
changed, the absence OF fluctuations being in re
markable contrast with the feverish movement In
gold and the variations IN the rates for money The
following were the closing prices:-United States
currency skies, 1131s 1lSZ; do do, 1881, regis
tered, ll5H 1l57s; do. do, coupon, 116lS ll6X
do fve-twentes, registered, May and November
ll2k 1l2x; do. do., 1862, coupon, do, 1121s q
ll2H; do. do, 1864, DO. do, 1l2ts l124; do. do
1866, do. do 1924 1l3; do. do, 1867, registered
January and July, l15 1885,; do. do, 1865, cou.
pom, DO, ll5 1l51s; do. do, 1867, do do, 1863
ilsh; do do, 1865, do. do, 115 1862; do. ten.
forties, registered, 1919 10s; do. do, coupon los
1857; do hves OF 1884, registered lO9s4 ITO; do.
do, coupon, 1os2l q 10.
IL THE RAILROAD BONDS.
Tie following were the bids for the railroad
bonds:--