Year: 1872

story Of Yesterdays Fluctuations
Immense Losses and Immense Gains.


Yesterday was another eventfui field day on the
street. The corner in Northwestern, thanks to the
genius OF its organizers, was well maintained, and
although there were sales in the neighborhood OF
150-a ty per cent fall from the highest quotations
attained-this was undoubtedly due, not so much
to the want OF power to carry things higher. as to
the fears ofits chief engineers that II they pushed
their triumph too mercilessiy their de5tors would,
as the slang OF the street goes,


"FAIL ON THEM"


and thus give them, after oil, but a barren vic
tory-the aurels OF conquest without any OF its
substantial fruits And this was certainly the only
reason for moderation, Tor In Wall street there are
no humane considerations introduced into war
fare such as obtain in the tented field, All vlctQrs
can, upon occasion, display some faint signs OF
magnanimty and generosity. and accord to .
fallen foe terms short Of fslt
ABSOLUTE RUIN at
But on the street, II II were possible, q financial
victor would push his advantage until he had
stripped his antagonist of his last cent and OF
his last Shirt The only mercy granted ts shown
from purely prudential motives. And In this con-
nection 1t is well to remember that story is going
round the street that ofthe worsted combatants
In the present struggle declared only few days ago



to such low ebb OF resources that 'he would
have TO earn his living by going round the streets
with o


MONKEY AND AN ORGAN,
and that he would have to beg even them from his
friends" But 1t as well In finance in politics.
to do your Dragging and shouting after and not
before victory, and, az the event has proved in
this instance the man who was to have been
ruined has succeeded in making one Of the most


BRILLIANT AND sUcCEssFUL STROKES
Offnanciering strategy on record in the annals OF
Wall street-and largely ut the expense of his over
confident rival .#tH
All day, wherever you went on the street, you
heard nothing but questions and rumOrs about


TILE CORNER.


ssWhat's she at now2" would be the first saluta-
tion, and the reply would invariably refer to
Northwest, which was clearly aud unmistak eably
the one centre OF interest for everybody, whether
they happened to be directly interested in 1t
pecuniarily or happily otherwise. The scare how
ever, that prevailed during the latter hours OF the
previous day had given place, even in the minds
of the losers, to a feeling of desparing resigna-
tion. There was, evidently, no way out of the
dilemma but to step up to the Captains office and
settie," ana, with many an inward sigh and many
a smothercd curse at their i'll luck, great many
of them forthwith made up their minds to accept
the inevitable.


In the brokers' Offices and wherever, in hotels





an Indicator, the


srOCK TAPE


was eagerly scanned and as the figures were ner-
vously ticked down in black and white. there con-
stantly arose murmurs oil surprise or apprehension
The fluctuations were indeed sufficiently violent to
be interesting even TO the most stond OF specta-
tors. Five per cent was the lowest jump either
way or the other, and that is certainly enough to
stir the pulse even OF the oldest of operators.
When before, at any rate since Black Friday have
there been seen such sudden and terrific changes
in vaiueY Mems minds were, however, somewhat
steadied by the


GENERAL srEADINEss
Of the rest OF the market, for except in Northwest
there was almost confident tone OF feeling.
One OF the funniest features in the "cOrner' was
to hear people cOngratuating themselves that they
had ''Only lost" so much; indeed the happlcst
man to be met on the street yesterday was a
broker who had three four days ago sold q
couple of hundred shares of Northwest short, but
had given up the struggle at the first advance and
had gracefully accepted loss of II thousand dollars
or thereabouts. Yesterday this gentleman was in
the most


CHEERFUL SPIRITS


imaginable, and before he explained the situation
to yOu you might perhaps have imagined that in
stead OF being loser he had made good-sized
fortune Escape from rum Is, perhaps, alter all,
under such circumstances as keen pleasure as
brilliant success. man looks back and remem-
bers what might have been his fate, and his petty
defeat sinks into insignifcance and ceases longer
such cases yesterday, as there probably always
will be in such seasons Of general loss and ruin.
Early In the afternoon


RUMORS
began to ny around the street that some OF the
principal losers by the corner had finally deter
mined to close up their accounts at any terms that
they could procure, and the story went on further
to detail how the brokers Of the victors were
= "RAKING IN THE sPOIIS"
by the armful This subsequently proved to be In
many cases entirely true; but the price was still
Kept up at the same ruinous figures for the benefit
OF certain


REFRACTORY CHARACTERS
who Obstinately refused to yield. The result Of
this was that the stock closed at 230-thirty per
cent higher than last night. These high hgures
however, were due to some heavy forced purchases
'under the rule"


It is needless to say that all day the only trans
actions in the stock were OF this nature.
settling up, was the order Of the day, and not
share was sold, probably, on speculation. At the
close Of business IT seemed 10 be-. however, the
general impression that the worst Of the business
was over and that the engineers of the corner had
already "scooped in" the greater part OF their
pronts. As to the amount OF the money thus made
there was great deal OF discussion, but everyone
agreed that 1t would be something In seven fg-
ures; and to small losers there was Of course,
abundance OF expressions OF sympathy and con-
dOlence, which usually took the accustomed form
Of 1.-The fortune OF war, my boy. Better luck next
tmel' Such was the story OF yesterdays business
on the street.


~wxynuvv NAvvv