, 1872-11-23
WALL STREET,
Great Excitement on the Stock
Exchange.
The "Corners" in Gold and Northwest
ern Common.
Review of the Produce Markets.

/ Review of the Produce Markets.
Special Despatch to The Chicago Tribune
New YORK, Nov. 22.-The Stock Exchange has
been in q whirl Of excitement all day, from the
very opening to the close, and the day will be
remembered in the history Of the "street." The
business developeda sharp corner in both money
and gold, at the very outset money commanding
u per cent commission for the days use, and
gold 19 per cent. Both we're gotten up as d.
versions in favor of parties short Of certain
shares OF stocks, who thought to cripple the re-
sources Of the jubilant bulls, so as to compel
them to release their hold. Outside Of these
elements Of feverishness the markets had been
quiet and unintereBting.
The railroad speculation started off at about
last nights prices, but q sudden strength was
developed, particularly under the Leadership of
Erie, which up to the o'clock Board, had advanced
from az to 57I, due to corresponding move
ment on the London Change. This advance,
however, WAS exceptional, for, while the rest Of
per cent, though Pacific Mail went off from 897B
to 87146, recovering to 88N. The afternoon
marked 8 lower range OF prices after
o'clock, when Erie declined to 6417
Auu facluc 1lau to Guys, LIS pefbtsteuc9 u tuo
decline in these shares dragging down other
stocks which had recorded the highest price Of
the day when the decline in Erie and Pacific
Nail set in.
But what the market lost in the general de-
cline, it made up In the sudden prominence ac-
corded to Northwestern common, which here be-
gan to assume that Importance which it's sub
segment career justified. Up to this juncture
the price had moved at g81f@95@100, but
thenceforward it absorbed >tho entire attention
body into state of the widest excitement.
Not contented with an ordinary jump OF
two or three points at 3 time, it jumped ten to
twenty points, and at the close, at o'clock, 200
was bid by the 1uck1ess 'fehorts." This corner
is without parallel since that famous one in Prai-
RE du Chen in 1866. It WAS fortunate for the
81 ''street" that the sufferers by this brilliant
movement are men OF wealth, and able to bear
the immense losses entailed, otherwise such q
severe advance must have forced many unfortu-
mates to the wall, and created havoc on the
Stock Exchange.
The interest in the gold-market has conferred
in the high rates paid for borrowing. An active
demand from the ''shorts" began early this
morning, and by degrees the borrowing rate Was
advanced ii til 4 per cent VAS paid for daily use
of gold. This is supposed to be q squeeze for
the purpose Of retaliation, gotten up by the par
ties who are short of Northwestern common, the
latter having been very severely crippled by the
extraordinary advance in price OF the shares yes
terday and to-day. 1t has, however, depended
upon the cooperation of one OF the Canada
banks, heretofore conspicuous in movements Of
this sort. It is thought in other circles that the
operation is designed to enable the bulls ingold
to market their holdings. Late in the day the
gold loan market became easler and loans were
made fiat, final transactions being at 1-32@3-32
per diem. The price OF gold made come eccentric
fluctuations. Opening and closing transactions,
however, we're made at about the same figures,
viz: 1133a6@11s14.
MoSEF.
stringency and high rates. The market opened
with transactions at 1-l6 and interest Per diem.
under B. very urgent demand, and lenders had
no difficulty in obtaining 1s per cent for their
loans Later in the day, while exceptionally
Fo PIT endns eg d6Tn 2ss as muh e9ey
has gone forward as is calculated st present BY
parties who are supposed to have knowledge Of
the currency. movement, the bank statement
considering that the last one Was made on de-
There is little doing in discounts, which move
acceptances. m
PRODUCE.
Flour eesed quiet at % the SdvanSs ss sshea aa Me- Me-
ss COMMERCIAL exchange Is unsalable. The
milling demand is fair for winter wheat. Prices
Of spring favor the buyer, but winter is better.
Pork firm on the spot, with the stock Of mess in
about 200 brls sold at $1,000 for mess and $500
for prime mess. Cut meats quiet, with 3 job
bing business embracing 500 boxes; city smoked
shoulders at 7@8c; do. hams at 1411c, also about
5000 lbs picked bellies at SIC Bacon in mod
crate demand; 200 boxes clear for November
sold at &c. Lard quiet; 300 tierces sold at $40
for Western to arrive this month, and 85ac for
city.