, 1872-11-27
Inc Clique Supposed to Have
Cleared Over $4,000, 1000
in Cash.
Commodore Vanderbilt Re-
pudiates Jay Gould
Entirely.
The Erie L4igation---More Suits-.-Drew
=. to be Arrested
Another Defalcati0n Of 100000.

- Another Defalcation of 100000.
Special Despatch to ITe Chicago Tribune,
a NEW YoR6, Nov. 26.-The corner in NORTH
western has run it's course, al the victims ez
t cept Il. N. Smith having settled in full It
B reported that Drew made his peace ct 125
Smith has raised the question whether North
western preferred cannot be delivered on con
tracts calling for Northwestern common. AS b
ls net q member OF the Stock Exchange, it vii
) not come before the Exchange for decision. bu
viii be decided in the Courts. Old members O.
the Exchange are Of the opinion that the CLAIM
cannot be mainteined, although there is
precedent in one of Chicago's grain corners
; where the Courts decided that No. wheat rouli
be delivered Oh contracts calling for No. 2.
No failures have occurred, because the victo1f
have been content to exact all they could with.
ont pushing the "bears" into bankruptcy.
Where man conld afford to pay only 100, this
could sta1d It, 200 was exacted, and' in some 51
cases, more. The Stock Exchange people esti-
mate that the clique has taken, in cash, between
s3,50o, GOO and S5,0o0,00o, and that one to two
millions in differences" remain to be adjusted
by the Courts.
The Governing COMMITTEES Of the Stock Ex-
change hold that the shorts must make good
their contracts, and the delivering Of preferred
stock will not be recognized until Smith d Co.
shares Of Northwestern common we're bought in
fundsr the rule =" ut 40 to settle contract ;
500 shares we're next bought at $50.
twas reported, late this afternoon, that Henry
N. Smith had settled his short interest in North
western, but the story vas generally disbe1ieTed-
Such, however, is positively ascertoined to be
| the fact. This ends completely the great corner
| IT Northwestern The terms OF DreW's and
Smiths settlements are not publicly known but
| Drew Losses are not less than q million and q
| hall, and Smith s two millions.
| Commodore Vanderbilt expresses disgust over
| the conduct Of his aon-in-laW, Clark, going bail
for Jay Gould The Commodore has published
q savage card about Gould, in which he says:
kIr. Gould in my life. In July, 1868, sold him
| q lot Of stock, for which he paid me, and the
| privilege Of 3 call for further lot, which he
| also settled. Since then have had nothing to
nor do mean ever to have, unless it be to de-
fend myself. I haye besides always advised all
my friends to have nothing to do with him m
any business transaction. I came to this conclu-
sion after taking particular notice OF his coun~
tenance."
To reporter who called on Vanderbilt to ask
il this card is authentic, he said: ''Yes, wrote
it; You can print again that I knew Jay: Gould
was ID little scoundrel the moment set
eyes on him"
The general stock market WIS weak until after
8 o'clock, when it became strong On the collapse
OF the Northwestern corner, that stock having
I bsin ?5sd 4hs cdas d9yn ars 70 ae S5 18th 8
Of all the common stock, which it
is thought now stands them in at 60 to 60 They
are also reported as holding controlling inter
est in the Lake Shore, Union Pacific ard Ohio
ket has been. grest1y reduced, and probably is
smaller than it has been for years. The closing
quotations for Northwestern common Was 90
bid; preferred, 8975.
opened active and stringent at 1-32@1-16 On
call, but closed at 5@6c. Mercantile paper is
stringent, only prime names finding buyers ard
then at high rates at some Western ci..es New
York exchange Is ruling at rates which warrant
q movement OF currency this way, although the
markets from which it will come are very
stringent.
Owing to the storm and large arrivals. -four
opened heavy especially for low and medium.
The market closed irregular and heavy. Wheat
closed dull and lower for spring. Winter steady.
Pork was steady, but quiet. Sales: 800 brls at
$500 for new mess; for future delivery, $50
meats dull and depressed; 10000 tbs picked
bellies at 7c in bulk, and some Il, 600 Tbs do at
7Ac. Bacon weak; sales so bo1eslong clear at
ja1c. Lard weak.
NEW YORK, Nov. 26.-The Northwestern corner
this afternoon, when the stock de-
lined, and WAS offered at 100, with 851 bid.
With the possible exception Of 200 shares re-
ported yesterday at $50 and 1888, it is probable
very transaction above 155 has been hoax.
AL the settlements possible to make have
been made privately. It is believed the clique
1as taken in cash between s3,50o,00 and
81, ,000, 900, and that two millions Of differ
,nce remain to be adjusted by the Courts, where
he "corner" will, with the Erie suit against
Gould, hereafter divide attention with the city
:Ring" suits.
The Brooklyn Eagle says the defalcation r.
he part Of q young man, named Allan G. Bush,
clerk or junior partner in the house of Kidd,
,earce Co., corner of Broad street and Ex-
hange place. The loss OF the firm is various1y
tated at $4,000, 5000, and 100000. The
ause is said to bo expensive yachting and street
pecdletions
Commodore Vanderbilt publishes card this
tternoon, saying that he has not had, and does
ith Jay Gould. He says that he hns also ad-
lsed his friends to have nothing to do with him.
le denies having connection with any Wall
treet speculative operations.
Henry n. Smith said to reporter that he will
adeaTor to settle his liabilities by tender Of
orthwestern preferred stock for Northwestern
ommon. About two weeks ago he Was first ap-
reached By representative Of the Erie Rail
2ad, touching Gould's TRANSACTIONS andhe then
ge1red that lie never took any Erie money ex-
spt as broker for Gould
The Supreme Court has ordered that Horace
Clarke give testimony in the matters between
,e Erie Company and Jay Gould.
Daniel Drew is believed to hare settled most
his outstanding accounts.
Yesterday afternoon David Dudley Field at
mpted. on behalf Of Jay Gould, to obtain from
L: y; L Barlow, counsel for the Erie Railway,
OF ". R. Trayers himself, a full statement of
10 connection Of Trayus with the arrest and
:oceedings against Gould. Field did not sue
ed in efecting his purpose. He says he viii
ing the matter before the courts. Mr..
ravers, however, announced his readiness to
lswer any duly verified questions which might
propounded.
Judge Fancher; to-day, granted an order to
anime William R. Trayers. His testimony is
be used On the motion to vacate the order Of
rest against Jay Gould at the suit Of the Erie
ailway.
President Watson, Of the Erie Railroad, sayB
at other suits are to be begun shortly against
ose who have been concerned in frauds upon
g Company. The arrest Of Daniel Drew will
asked, in order to bring about thorough in-
5s,tgaton Alr: Watson intimates that Gould
L be EearreBted.