New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-09-18
90 North Wesf-
TuEspAY, Sept. 17-p. ".


sWaIl-st usually prolific of corners, seems to
have outdone ITSELF and to-day was field day for cor
ners Tho one engineered in Erie is getting to be an old
,tory and its continuance is taken for granted ana
forms one OF the natural features OF the MARKET
much extensive corner was developed Ia go'u, ro
shifting in such squeeze the spectators on the snort
side OF the market has not been recorded Tor long
time, and will doubtless serve az warning
TO Wall-st. operators to be moro careful IN
future not to sell what they do not own During the
break some time since from ll5s TO lt2b certain specu
lators fancyng they handsome profit on the SNORT
side of the market sold very freely for future delivery
Taking advantage OF this, the bear comoinaton ~
stocks who are always credited with being ouils III
gold commenced buying freely, until, In vie" Oh luo
snaIl supply on hand in the banks they succeeoeu IL
citing the control of pretty much the entire supply Oh
available gold IN the street Their former lack Oh sue
cess had taught thom tho folly Of endeayorlnS 10
corner the merchants ana lnpOfeIs' anu SN'
demand to-day in no great part from tncH ioq'
ments 1t is pretty generally believed that the ercan
tile interests are supplied with gold through the safes Oh
borrowed sterling As transpres that the cher sur
ferers by todays spectators VINO take INC
risks attending speculation, they are likely to receive
very little sympathy from the public simultaneously
with the making up OF gold rates. the clique commeDceu
calling their currency loans, taking good care before
having done so hire all the money they could obtain
at bank rates. This having been accomplished, the re-
qurements the brokers found difficult to I'LL ana
in consequence needy borrowers had to pay as much as
per cent commission in addition to the legal gold rate
As we have before pointed out the banks were power
less to aid the sufferers any very great extent as they
are already very close upon their lines, ana a
the same time find themselves severely taxed TO I'LL the
requisite orders from out-otOwn correspondents Under
such circumstances it is be wondered at that the
Stock Exchange has been the theater OF very lively
operatoLs to-day sharp contest has developed itself
aaaf Tha
to be much more equally matched than at any time
during the past two years. the bear party seem to be
much more confident in their operations. Inc most
uncertain, and on that account the most ln'
terestng stock Of the list has been Erie, Which, from oot
in early morning sales. advanced to 5St regular ana 90
for cash stock, with transactions amounting 10 4oVO
shares during the day fight this stock is said to
be by the German bankers the one side, who favor
an advance and the Jay Gould and Smith party-proD
ably including Mr. Drew-on the other who are working
for the decline 1t pretty fight as 1t stands Dut the
Germans seem to be ahead at the last accounts
Intrinsic merits have little If anything to do with the
question: and perhaps, like the Kilkenny cats" the
two parties may eat each other up for the Denen OF te
street In other stocks the market has been quite
active with general and heavy decline Northwest
ern c. c. and Indiana Central Union Pacific, Ohio ana
Mississippi Lake Shore, Pacific Mail, and Western
Union all in turn vigorously attacked by the Dear
and with decided success except in the case OF Union
Pacific, which held up with much strength under inc
support of the clique recently formed in the stock AT
about O'Clock the market was trife stronger but
gave way again half an hour later under ex
trayagantly high rates for money. Central and
Hudson declined II per cent; Lake Shore Ohio and Mis-
sissppi, each 1 per cent; Northwestern, 2; Rhode
Island IL: st. Paul, Toledo and Wabash, IL Pacinc
Mail, q; Western Union, q; Union Pacific, 8; Quick
silver II for and p for Preferred; C. T. ana
c. o. and Hannibal and ST. Joseph g. For short time
during the day the difference in the price between
regular and cash sales OF Erie was q per cent
The market closed weak and unsettled and at about the
lowest prices of the day. The total number OF shares
sold to-day as recorded upon the stock telegraph was
OOO of which 10000 shares sold after u O'Clock
It would be unreasonable perhaps to expect mod
crate reaction or rally from the points which stocks
reached this afternoon after much Of depression III
single day. but the immediate prospect hardly justies
the expectation. The opening, highest, lowest, and
closing prices Of active stocks sold to-day as
follows: