The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-02
WALL STREET YESTERDAY.

WALL blhEEl 1Eo
NEW YORK. December 1.-The POSTS financial
article Gays: The share speculation at the Stock
Exchange 10 day Is ia highly feyersh and unset-
tied condition. AZ TIN IS tue market has app.aed
TO be on the verge OF panic, but apparently those
working for lower prices are no more aux Us 10
zee panic than The large speculative holders Of
stocks, and at the cri,ieil moment the market Is
held within reasonable bounds. During The first
hour prices fell l 20 . per cen. for me leading
stocks, hut rle after the hour an upward reaction
bcgan and Is Still In progress as We write, ROod
n1rt OF The early decline having been recovered.
The difficulty In getting money IS thus Tar To-Day
FULLY as great as IL has been at any Tim brokers
uaNi ing all sorts of commissions up 10 OF per
cent per daN to have their stocks carried The rou-
ble with the money market Is mat The banks are
practically helpless To give aid, lhelr IsclIlties
he last few weeks, which has required enough mo-
MY or credits expand their loans to figures never
before r. ached. Moreover, the demand Tor money
from the south and parts Of the West has continued
very large. the express companies reporting large
dtIiy shipments OF com. THIS demand - nothing
unusual az this OF the year. bat Is felt more
severely this year because Of the expansion IN spec
Il alton. While the banks are losing money III thls
way as well as 10 the Treasury, they are gaining
coInparaiively lille by receipts OF money from
nearby places. and have 10 depend mainly for he
REIMBURSEMENT Of their reserves on receipts OF Tor
egn specie These Latter. al. houeh large nave ths
far nroyed INADEQUATE. la detail: The stock mar
Lei onrned per cent. lower than IL closed yester
day for Milwaukee and St.,Paul preitrred; - lower
for Nof,hsest preferred; II lower for c. &C. 4
l.; i per cent. for Nerthwest, eolnmon' anu
Milwaukee and -. Paul, common. and IA
lower for the remainder OF me hst, tx
cept for Nashville and Chattanooga, which
was y higher, and Burlington aud Quincy; which
was unchanged. soon after The opening tue gen
eral ist began to decline. aud by oclVcE prices
had fallen s@4a per cent ine ,er ds SGr' eS 81
ner cent; Milwaukee aud 81. PAM aud delaware
and Hudson Canal, Is each; Lake shore n; New
York Central amt trle, each; Union rsc nc,
cent; Wabash preferred, y, ana Jersey SFhtIa'
and Hannibal aud 81. joseph preferred. q each'
from III O'Clock until about noon lhele was an al
vance of sd4b nfT cent; HE latter also Northwest.
Common New York Central advanced ~ Union
Pacific, Ok; Milwaukee and -. Paul. rs; western
Union Telegraph ami Michigan Central, z eacn
.sy Gsn,I sI' and io Lake Shore, IL each Dea
ware, LackawaDna and Western ahh wa,
hash preferred. IL each: Ere, Hannibal aud
81 JoseplSand Kansas aud Texas, Il each; D"la-
ware aud Hudson Canal, and ontario ana Mes,ern
Ia each, and Manhattan railway aud raclne Msl
I,er cent each. Since noon there has been anOiher
decline OF AMlh pr cent. the ldtier delaware
Lackawann. and Western Burlington ana Qfincy
advanced during HE nfst honf PER se., ~ h as
tanoO.a has advanced per cent. slpce tne opehlus
1ht unform rse for money at bank j. PER cent t.,
them are compelled TO call In loans Oh account OF
The Or lin upon them from cui OF town. siock bro
kers are paying yaIying commissions 10 ge. W9hey
a u4r cent or TO have their stocks carried. Many
OF Them have already thrown over their stocks ratber
Than susmlt to the "fqueeze." lime moneyis 20 be
had for four months al per cent. but not Tor thiry
days. Mercantile paper Is nominal.
Tne following quotations were current 70 day
United STATES per cents, tx BID IL ASKED !;
limited states az per cents, 1lOa; New Jersey Cen"
,raI. IS; Ohio and Mississippi. $50; Erie. 40 {;
Michigan Central, ny; Hannibal and -. Joseph
III. lie shore Xix: Northwest. 1877; North
w,si pref +. FRED, 143k irou Mountain. l22k Rock
island. I22H; 81. Paul, 1854; ~: Ps1 preferred
10Y; Wauash, 81 LOUIS ana rseine, hoss,,;
Tcxas, 37k; Western Onion Telegraph, s9S; q. Z.
aud 1. c., isa; Pacific Mall. 46S
BALTIMORE.
BALTIMORE, December 1.-vireinia 6s. old; 20 I:
.,,,e coupons. oil new l040s. Ak; l0'4Os,
coupons, 81. Bid to day.