The New York herald., 1872-11-23
; ,r6;II5us time purchases. On the settling dAy the

bought by the ring The day for settlement hap
pened tn September Stock which was bought In
Jply Ct 12s, buyer sixty, paid in this time 2
Dsscrence seventy-.wo per cent W liio
pool, which held the market at 1876. The "short"
interest was In frantic state of excitement. A
meeting Of the Board was called, and the discussion
over the matter was nercey earnest and pro-
fracted. The vote naturally decided that con-
tracts must be fulfilled But all this time
the shorts were determined and the ring
gave new start to the stock and sent
k.up to 200. The Board was again called In ses-
sion, and the brokers selected committee OF four
TO whom oil differences should be paid, and VINO
'bhould make an arbitration between the parties.
The papers intmated to the public laas Tue snorss
were ready to settle for 100 OF 176 for c0fnefed
stock and the ring subsequently consented to this
compromise.
The operations OF this corner were so far-reach-
Ing that some OF the members Of the State Legisia-
ture were involved in the transactions, and one
was expelled In consequence from the Senate;
and incidental to this, Barlow, cashier Of the Com
mercial Bank Of Albany, was defaulter to the ex-
tent OF $130000, and Wilding, an operator from
London, disappeared so completely with $4,000
worth Of shares that he has never been heard Of
since. In November, 1865,
THE PRAIRIE Do CHEN,
better known as the Prairie Dog Corner, one OF
the most notable OF the large number which have
SGoSers This at the time was "a very obscure re
saooo,o 900, and the shares when the speculation
sands Of shares and created a very large short
Interest. ON the last Monday Of the same month
Dog had been pushed up ESQ., Then
% high as 21o, and 1t is historical that one house
paid S125 600 to get clear William H. Marston, at
gineer and leading spirit in this corner The
SECOND CORNER IN HARLEM sroCK
when the stock was selling at CO. Throughout
the whole OF this corner the engineering was the
most skillful and far-reaching. Commodore Van
Broadway Street Railroad grant, and the
members Of the Common Council Of New York had
short Of the stock and wished to repeat the
charter Of the road At the same time they had in
privately purchased the entire stock Of
s,tor the road It was no np,c. very dS1t
This was in september, and when settlements were
made the stocks dropped down to so. In the early
part OF the following year, 1864, the state Legsla-
entered on systematic raid against Harlem.
The stock fell. The snorts began to increase.
lion dollars were pocketed by robin and his col
league. the fiery Commodore. Some OF the individual
operators, who had agreed to deliver 1000 to 1900
shares, were exceedingly glad to compromise by
paying something like $1SO,000
THE HUDSON CORNER OF 1858
explosions. This was engineered by Leonard
Jerome and few of mis- friends. 1t appears that
ns snems % the impulse Of the
TO 112 and even less. Jerome held large amounts
ef the stock and grew irritated at this decline in
take all that was offered at the sellers option.
TINS plan was continued for several days until
most ali the carital stock had been
secured. At this period many applications were
IN tn fv1rr hn fnek hOn
It cash OF the Ring and sold 1t back at an advance
Tpon Cpp. ten, twenty or thirty days OPTIONS.
persuaded the brokers that the clique was
70 great need of money, and a short
sold for future delivery freelythe ring all the time
tions, given in the turns, came to maturity, tie
No stock could be ebtalned. Hudson mounted up
to $50. Then the leading operators began to
said they made the turn simply as matter OF ac-
cOmmOdation, and 1t was not at all fair that they
now should lose thousands of dollars on every
hundred shares. The clique was not to be in
1uenced, however, and at most consented to
lend the stock at five per cent per day. There
proportion Of them this extreme interest was duly
paid. AT last, not having anything better to do,
wss tS Of
What was made on this 1t is impossible to say, but
II can be put at millions The
MILWAUKEE, AND ST. PAUL
the cooperation OF directors. Garner was the
master mind OF the affair." The stock was selling
Mt AZ in January and the operator bought calls at
twelve months cOrnering the entire capital stock,
paying $s0ooo0 in premiums. He then ordered his
broker to bid it up and In october it quoted at ILL.,
The direction at this point voted an immediate
issue OF shares and the market broke to 81. There
was
CORNER IN ROCK ISLAND
In 1s63-64. 1t was engineered by Morse of Fort
Wayne fame and Thomas c. Durant the Union Pa
sifc man. In December large sums of the stock
were hypothecated on q sixty days. loan.
Heavy purchases were then made. More
esSe entire capital stock s was II held "' or or
that 5000 in excess Of the capital were bought.
this state 1t was found out that the pool being
betrayed. a compromise was then made at from
day broker sold 10000 shares, and the corner
AN ERIE POOL
took place in November, 1868. In the morning
Erie sold for 36sS, and in the afternoon was as high
as 52H; i Is singular fact that in this pool Smith
OsserSeads were partners @ against ae panei Gn Drew
who was lett out in the cold snort" In 1867 Van
aeIeilt had attempted to corner % the the same crowd M
the same boat at the time. Now Horace +.
Clark, the successor OF Vanderbilt in l, the
It Is an example Of how Wall
street matters change and turn, and how enemies
Kaleidoscope changes OF Wall street. Woodward,
better. known as "Sunday School Woodward"
CORNER IN MICHIGAN SOUTHERN
IN 1906 sending 1t from so to los, and for some days
he received three per cent for lending the stock,
being paid per day. This same Woodward, it will
be remembered, about year ago endeavored to
run up Rock Island, but failed in his corner and
lost afortune. He is now considered ruined man
In Wall street and has done nothing OF any note
since.
Perhaps the best known corner OF all was the
great gold corner OF September, 1869, the dsas-
Black Friday to the day on which it happened.
1t was then that Fisk, Gould, Beldcn and
others united to send up the price OF
gold, and did succeed in sending 1t up to
160 from sEall premium. 1t will be remembered
that the government stepped in and put stop TO
on the market This so completely took the ring
by surprise that they were circum.
vented and failed to pay many OF
their obligations at the time running many
Of the brokers and causing more or less gnashing
Of teeth through the land. The main point OF this
was that, instead OF being stocks, which only