Corner

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Corner

For surveying purposes, the designation given to a particular location formed by the intersection of two boundary lines of real property.

The process by which a group of investors or dealers in a particular commodity exploit its market by purchasing it in large quantities and removing it from general sale for a time, thereby dramatically increasing its market price because its limited supply is greatly exceeded by the demand for it. The condition created when a commitment is made to sell at a special time of delivery in the future, a much greater quantity of a commodity than is available in the present market.

This type of commitment is known as a futures contract. Frequently, neither buyer nor seller expects actual delivery of the goods. They are solely speculating on the difference between the contract price and market price on a particular date. The market price is affected by various economic factors. When a corner is created, the demand for the commodity far exceeds its supply, thereby driving up market prices. On the date of delivery, therefore, the market price will exceed the contract price if no additional quantities can be delivered by persons other than the seller who has "cornered" the market. The buyer must then pay the seller, who had a corner on the specified commodity, the amount by which the market price exceeds the contract price. If, however, additional quantities of the commodity are available in the market, the seller incurs financial losses because the market price will be less than the contract price at which the market was "cornered."

The Commodity Futures Trading Commission is the federal regulatory agency charged with the administration of the Commodity Exchange Act (7 U.S.C.A. § 1 et seq.), which is designed to protect all commodity investors from manipulative practices that hinder the free flow of commerce. Anyone who deliberately exploits the commodities market to create a corner may be prosecuted under federal law for commission of a felony, punishable by a fine of not more than $500,000 or imprisonment of not more than five years, or both, plus the costs of prosecution.

See: border, edge, monopolize, perplex, plight, predicament, stand
References in classic literature ?
Lady Arabella took in her hand a small key which hung at the end of her watch-chain, and moved to a small door, low down, round the corner, and a little downhill from the edge of the Brow.
Harris always does know a place round the corner where you can get something brilliant in the drinking line.
The Dodger and Master Bates, unwilling to attract public attention by running down the open street, had merely retured into the very first doorway round the corner.
The question was unexpectedly and suddenly answered for her, by the colourless boy, Bitzer, who came round the corner with such blind speed and so little anticipating a stoppage on the pavement, that he brought himself up against Mr.
Instantly I stepped out into the street, picked up the box, and replaced it in the cart: in the next moment the bicycle had spun round the corner, passed the cart without let or hindrance, and soon vanished in the distance, in a cloud of dust.
I left him," said Mike, "a settin on some doorsteps round the corner.
I never shall forget him peeping round the corner of the street in Tottenham Court Road, while Peggotty was bargaining for the precious articles; or his agitation when she came slowly towards us after vainly offering a price, and was hailed by the relenting broker, and went back again.
Then you might run round the corner and fetch your friend.
Before I could steal suddenly round the corner, as I had proposed, I heard lighter feet than mine-- and more than one pair of them as I thought--retreating in a hurry.
Soon the sound of Old Pretty's milk fizzing into the pail came through the hedge, and then Angel felt inclined to go round the corner also, to finish off a hard-yielding milcher who had strayed there, he being now as capable of this as the dairyman himself.
Just round the corner, as it were, on a pier defined with stone blocks and wooden piles, a white mast, slender like a stalk of straw and crossed by a yard like a knitting-needle, flying the signals of flag and balloon, watches over a set of heavy dock- gates.
Sure enough, before long the pony came trotting round the corner of the street, looking as obstinate as pony might, and picking his steps as if he were spying about for the cleanest places, and would by no means dirty his feet or hurry himself inconveniently.