New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-03-13
THIRD CALr.--2:3O p. VI.
FRIDAY. March Up. NJ.

FRIDAY. MhIch l--f. VI.
Iftt were not scandalous, the effort made IN GER
tain speculative quartcrs-which Is reflected IN some
newspaper articles-to hold the Secretary Of the
Treasury responsible for the declining tendency OF
tbe stock speculation would be ridiculous
and absurd. few weeks ago the Secrc-
tarv caused IT to advertised that until
further notice on each Wednesday he
would receive offers for the sale to the Depart
n,ent of 81 900 600 of the or per cent bonds Of
the Government. Since the issue Of that alver-
t,semeut there has been no further notice given.
Yet ON each succeeding Wednesday the purchases
of bonds have exceeded the amount advertised Tor
From this fact certain spectators have assumed
that the amounts OF purchases were TO be
governed by the exigencics Of stock ana
produce spcculations rather than by the condition
Of the Treasury balances or of its Immediately
maturing obligations. Hence when on wednesday
il was announced that the purchases for that day
wonld ONLY be - OOO, 900 instead of - 100000 or
50 600. OOO as " the street" without the slightest
authority. had expected a great hue and cry was
raised about large accumulation of money IN
the Treasury" and has not yet been luiled And
TIM. i'm sp,te Of tire fact that since Fcbru " she
Secretary seems 10 have been rather disposed 10
STRAIN the reserves by discountng future receipts
Prrbaps because of the unjust and absud slate
u,ents which have appeared in print. the Secretary
today may have authorized the following dispatch
which was received from Washington " The Sec
rctary of the Treasury says that II bu fir 20 state
10 the public that be intends every week
TO invest all the revenues. less actual cX-
pend lures and prpp0ruonaie share al the accru-
ing interest the public debt, IN the purchase Of
the , and per cent bonds on public offers no New
York; This announcement Is perfectly consistent
with our remarks I'D tO-day's TRIBUNE; and a fair
ferprctat ION OF u Is that hereafter the reserves
will not be reduced by The purchase of bonds, such
.f...~ limit n.lf fftul ~ fs| M
cnuc, remalnm' after allowing Tor accrnins inter
est on the public drbt.
The stock market to-day opened higher than yes
tCfday' ; closing figures, and during the forenoon
continued 10 b. irregularly strong But alter that
fhc pressure 10 sell was renewed, and Tor two
hnurs or moro prices gradually declined until
Trir sold nj 44as: Lake shore at lOSl2; Michigan
Central at 81 j.; OHIO aud Mississippi az -. and
preferred stock at ~; Delaware La'ha-
wanna and Western nj 81 Il: Delaware and Hudson,
$3.50; Ncw-JerSey Central, - = Northwest 93Ii:
s.. Paul. SO3l Hannibal aud -. Jnscph, 3'o-
Missouri. Kansas and Texas, 1925 Wabash "a
and Western Union telegraph, llO'l. Iho market
wa, still heavy and declining when. NJ about $50
o'clock. the dispatch printed above was received ana
gwen 10 thr public over klcruans Wall street lee.
graph forced Interpretation was gwen 10 TINS on
STORY, told tn new FORM, ana operators u'.W
MS # il was expected that the entire confer Is oi the
Sub-Ircasury vaults were t", ne lhn'ilIloN rin
plovcd 10 buy stocks at best prices. sharp ana
rapid rally followed winch IN some instances carried
prices h CHER than during the morning hours. Bni
before the close sales were again commenced ana
the ,xtr,me prices were not sustained. AZ the close
the market was mixed" rather than either strong
o weak.
The final changes from Che closing prices ycStcr-
d,y are ~ follows: Declines cmpcakc and Ono,
Lake Storc Erie, and Western Union, each i en-
cago. ST. Louis aud Ncw-Oricaus, Northwest PIE
frrrcd Delaware ami Hudson. New-Jcrsey Central.
OHIO and Mississippi. ANA Iron Mountain, each i
Metropolitan Elevated, Is; C., G. and !. C. llannl,
bal and 81. Joseph preferred. Marietta ana
Cincinnati first, prcicued Mobile aud OHIO
Ere preferred, aud Adams Express,
each ~; Alton and Tcrcc Ilaute. Ohio Central.
aud ST. Ions ana san Francisco first preferred
each "a; Indianapolis. Bloomington and western .;
Morris aud Essex and Oregon Railroad aud NaNiga-
ton eacl. | ONO and Mississippi prricrrei, ~
Pacific Mail Ia and Nashville, Chattanooga aud
ST. Louis 2l2 per cent Adynnces-Canada south,
crn St Paul preferred. Delaware, Lackawanna ANA
Western Ontario and Western, and Wabash pre-
icrrcd. each 10 Northwest ~. Paul. Northern Ia,
ci6c common aud preferred, Atlantic aud
Pacific Telegraph aud American Express, each
L.. Chicago. 81. Paul and Minneapolis,
Iln,ou Pacific. and Wabash, each y Central Pacific
Cleveland and Piitsburg. and Michigan Central,
Zach Ia Chesapeake ana OHIO second preferred,
a. e.. &. and l., 1os and Manhattan Elevated,
/ Is per cent
KAsGE STOCK MtsNEL
A4r,portea by TIE Gott Stoes TsiegrrOt ComDrnE