Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-11-23
WALL STREET.
Tremendous Corner in Cash and Gold
One and a Quarter Per Cent Per Day
Northwestern Stock Jumps Over the
Moon.
A Leap from 95 Per Cent to 200!
How Honest Daniel Drew Had to
Draw i'm His Horns.

Draw i'm His Horns.
NEW YORK, Nov. 22-The Tribune,
money article says. Very Unexpectedly
the market opened With quick and eager
demand for money and gold, the one com
manding full quarter per cent bonus per
diem, while gold was lent as high as II per
cent. The two corners were doubtless the
direct emsnation of one head, though the
scarcity of gold was due to the co-opera.
ton of ore of the Canada banks. The
squeeze to-day is understood by knowing
ones to be the result of the cogitations OF
the distinguished operator who is heavily
short of Northwestern Common, but il
concocted fer the purpose of intimidating
the prime movers In Northwestern it sadly
failed of success, for while this stock ruled
practically quiet enough during the forenoon
at 9Sa95, the afternoon brought with it such
q sudden jump as might well cause the most
serious alarm among the unfortunate shorts,
and by this time the great Methodist re-
former must ''know how it is himself"
The price advanced by rapid strides, several
points at time, until at the close 200 was
bid, and parties who had been led to sell
their shares at so on Wednesday, found
themselves left out in the cold. So com.
plete has been the corner that nothing ap-
parently remains undone to give it a greater
success, and it stand alone and unparalleled
in the history of the street for the last few
years, and viVidly recalls the famous Harlem
corner.
[For details see our Markets by Tele-
graph.l
what NexI3
u IL
have the "call' on $4,000 shares more than
the whole capital stock of the company, so
that be Northwestern is virtually not pur-
chasable at any price except with the good
will of the holders.
The expectation is general that the next
move in the game viii be an attempt on the
part of Smith and his allies to obtain from
the Supreme Court wTits of Injunction
against the stock exchange to prevent the
buying in Of the stock.
The Berald's View OF 1t.
The Herald in its monetary article says:
The most important events il the stock
market hinged on the arrest of Jay Gould.
After giving the progress of the rise in
Northwestern the Herald goes on to say:
There were of course no failures, as it was
after banking hours when the rise as
sumed such enormous proportions,
but there will DOUBTLESS be heavy
losses to settle in the morning,
should the ''pool' insist on keeping the
price at the standard reached tonight. On
this point there are again great many
different and conflicting opinions. In
some parts Of the street the con-
viction is entertained that the rise
of 105 per cent this afternoon was
the work of the "Shorts" themselves, in
their efforts to cover, and that it was against
the policy of the Jay Gould clique to
force an advance which, lEe the ''slaugh-
ter of the hen that was laying golden
eggs" was certain to 0efeat the
object of the corner by suddenly
bankrupting all the shorts. On the other
hand it is said that when the bears arrested
Jay Gould they thought they would thereby
demcralize the bull clique aud scatter the
stock, in revenge for which strategy the
bulls put on the screws aud ran the price
up to 200. 1t is only fair TO say, however,
that the brokers operating for the bulls dis
claim the latter course, although it may
have been the result of orders to other bro
kers than those usually recognized as inter-
ested with the clique.