The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1881-02-26

The Financial Troubles in New York.
New York. Feb. 25.-The Post says;
The stock exchange has not been SO
thoroughly aroused for long time as
it was this morning. A panic is threat
ened early. United States bonds and
stocks are declining heavily; money ad-
vancing to II per cent. premium per
day, besides the 6 per cent. annual
rate.
The foreign exchange became utterly
demoralized and bills representing ex-
ports of domestic products could not
be sold.
When the outlook was most threat
ening, Secretary Shermyn notified Hill
house, assistant treasurer. to buy ten
million 8 and 6 per centu., paying for
them here, besides twenty-five millions
of called bonds. which have been con-
ditionally prepaid already.
Experienced observers think to-day's
action will check the panicky feeling.
Within half an hour from the order
of the secretary one and half million
dollars was paid out for bonds.
The Commercial says: At two p. m.
stocks were feverish and irregular.
The banks are still calling in their
loans and it is next to impossible to
make loan with No. security.
There is considerable feeling against
the promoters of the three per cent.
bill in not pushing it through in order
to check the retiring of legal tenders,
which will cease as soon as the presi-
dent signs the bill.
Stocks declined from two to seven
teen per cent. under the great excite
ment.
Secretary sherman Relieving the
Money Market
Washington, Feb. 25. = Secretary
Sherman received advices from New
York, previous to the issue of his order
authorizing the assistant treasurer,
Hillhouse. to buy bonds. that the finan-
cial situation was very threatening, and
unless large purchase Of bonds was
made, the result would probably be dis
astrous.
The whole subject will be brought
to the attention of the cabinet to-day.
The COMMITTEES of five representatives of
each party, appointed to confer upon
the apportionment question, held a
brief session and adjourned without ar
irving at an understanding.
Congress- Comes to the Aid OF the
Capitalists.
Washington, Feb. 25.-Beck's bill in
the senate authorizes the issue of
United States notes not less in denom-
ination than 500 in exchange for gold
coin delivered to the assistant treasurer
in New York, in sums of $4,000 or
more. The gold so delivered shall be
held only for the redemption of these
notes. These notes are receivable for
all United States dues and on public
and private contracts, except for inter-
est on the public debt.
The status OF the Funding Bill.
honiiStous L GU. So.-1 uc luuulIlB
bill, now on the speakers table, never
having been referred to the committee,
both houses have passed the three per
cent. feature Of the fifth section, so
that they are fixture.
The ways and means committee can
recommend amendments to the SEN
ate amendments only, and that they
intend to do. They will recommend an
amendment fixing June 1st as the date
after which the three per cent. shall be
the only security for bank circulation.
BY the change it is believed that it will
relieve the pressure the banks are
bringing against the bill. With this
amendment, it is very likely the bill
will pass.
A Memorable Day.
New York, Feb. 25.-The 25th will
be memorable in the history of Wall
street. The lull that followed Sher-
mans announcement to purchase bonds
was followed by fall that bordered on
panic. All through the afternoon the
stocks tell. The excite cement was in
tense; on Wall, Broad and New streets
were small groups of excited men