New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-11-25

-, , start the uniform rule OF the call loan market
INC per cent to thirty-second aud interest thongh
oSoen,iona higher and lower figures were reported
S,a,cv has been going forward with freedom
% the West and Southwest, though this has
disturbed the market in much less 90
,rce than the peculiar operations OF INC
treasury in calling In million slC246iO legal
tenders deposited with certain banks after the large sale
~ cold on the 7th ut The demands OF the merchants
have been very pressing, and choice grades OF paper
have fetched TO 10 per cent Yesterday money en'
ON call as high rs quarter per cent and interest," que 10
combination in money and gold but relaxed to 3 per
cent by bank hours closing at G0T Gold had oeeh qe1
without notable movement, and sales had been az hS@
1874. tho London market continuing TO improve, ana
Consols and United states bonds rising to per cent
while money ruled in the open market easy at per cent
The Bank OF England gained a1sioOO sterling during
the week. and the more settled tone OF Continental ars
affords guaranty against an advance In the minimum ruo
Of discount which remains mt seven per cent fester
day there furry in cash gold aud sqeeze ehsuou
under which borrowers paid as much as one ana quar-
ter per cent for the OF coin one day, aud u was
during this time that money commanded bonus OF
quarter In the furry o sale made ut ia, Dut inc
priee quickly fell OFF until touching to-day at the open
ing l12a Government bonds here stood up sunny an Oio
way through and the xtyseyens here sold as hlgh rs
l15i though to-day there is general iainng OH III 'no
gold valuation Of the various issues.
Wednesday afternoon when "corner" in Northwest
ern Common was developed. The market was de-
clnng one ND 10 that time, the activity In money ana
the reported loss OF the Pacific Mail COmpanys steam
ship Arizona having caused decline OF to y per cent
The greatest depression existed in Pacific Mail Atlantic
Mall and Western Union, the last named Delng aheoeu
olso nv large sales reported 20 have been made by the
Company The contemplated new issue OF ST. fau
Common stock affected that security but slightly Upon
~ eafetv NJ and the move
nent I'm Northwest Common there was a recovery In
prices of to per cent Pacific Mail and Erie leading the
van The former advanced to s9i from $40 aud the latter
TO 5l from 81 the rise In the price Of Erie at London
accounting the improved quotations here Inc low
est price Of Northwest Common e3D was made on
Wednesday on tho announcement OF new Issue OF
sisOOOvcO consolidated mortgage bonds At p. m on
Wednesday sales were made at 49, and at the close OF
that day 90 bid was the quotation. Thursday morning
there was a reaction 10 oOl but in the afternoon there
was smart rally 20 1OO Yesterday there was another
downward turn 10 95 when another advance took place
in this specially and did not halt until 900 was reached
sale being reported high as 203 just after the
Presidents hammer adjourned the crowd OF
brokers at 4 p. IN. This extraordinary rise Of
nearly one hundred dti seren per cent has
only been equaed exceptional occasions In the his
tory OF the Stock Exchange and in the last case which
was the great and memorable "corner" in "Prairie
Dog" the excitement no greater than that which
attended the wonderful upward career OF Nofth-Htsl
Common. That stock to-day commanded the prominent
attention OF operators though IL is remarkable that no
failures have followed this extraordinary movement
This is doubtless owing to the fact that the smaller
shorts were permitted to settle their con-
tracts at whatever figures they could afford
without absolutely going under. Some large contracts
were settled last night at l25, and still others to-day
at After 2:l5 p. delivery hou) there were de-
faults In the stock the amount Of upward OF 6,oCO
shares which bought in under the rule at 200 to $780,
the latter being the final quotation Of the stock and tho
corner apparently little elimination than yester
day. as scaps OF the "Bg Iuns have not yet been
taken Erie was weak this forenoon declining from "a
to 6ll as London Eric yielded about two points but 1t
later reached to 53l and closed at decline Of a
point. Otherwise the market, which was weak
and fcverish at the opening, quickly became
strong and advanced to q per cent the shorts rushed
in with vengeance to cover having natural fear Of
consequences in the awful example OF Northwest. This
activity and animation lasted until midday, the o'clock
board being also rm but after its adjournment the mar
ket rcapsed into quiet and dullness and at the close
lower basis Of prices current The opening highest
lowest and closing prices OF stocks were as follows: