The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-02-27
The New York Posts Review-A Strong
Market Yesterday.

New YORK, February 26.-The Post. in
its financial article to-day, SAYS: The Stock
Exchange markets have been so thoroughly
shaken up in the last few DAYS that they are
in state OF comparative generalization,
subject to every passing rumor and variable
ia the extreme. AT yesterdays closing OF
the stock market panic was raging, but
shortly after the close an improved feeling
became apparent, and was continued at the
uptown hotels last evening. This morning
there was a strong opening, but this was
soon followed by return to feyershness,
and until about noon the market was alter
nalely strong and weak, with the changes
filful and frequent. The prices, however,
kept within comparatively narrow limits,
and the average Of prices was considerably
above Yesterdays lowest. About noon Il
>teadier tone characterized the market, audit
soon became slrOng, and is so now. Among
the BUYERS are outsiders OF means, who al
ways come down town after such a break
rs that Of yesterday for such stocks as they
can pay for and take them away. The
weaker class OF stockholders who rather
than pay the enormous rates for money cur
rent Yesterday threw over their customers
stocks are also among the buyers to-day.
Large amounts OF stocks have also been
bought for London account. Ii they are
not resOld here at an advance. but are en-
ported. gold TO a considerable extent Will
be returned for them. The indcli0ns are
now that the crisis has passed. 50 far as the
money market is concerned. When the
rates for call loans to the stock brokers
were Yesterday l3@s per cent. plus per
cent. per anuum, they began this morn
ing at of per cent. plus per cent,
and as we write are down TO plainG per
cent. on United States bonds and per
cent plus ! Ier cent. on good stock cOllat-
eral. Time loans and mercantile paper are
nominal. The business in foreign exchange
l. still demoTaliZed. The posted rates for
prime bankers sterling are down to $50 and
1924 the lowest rates at which sales have
been made are AS for 60.day and 47G for
demand bills. Cables have been sold as low
~ AS, and prime commercial at 412@413;
the range OF rates at which business has
been done has been wide three to five cents
per pound sterling.
The following quotations were current at
$50 +. NJ: Western Union. 109I; Ameri-
can Union, 6G New York Central, l45;
Lake shore, 1888 Michigan Central, ll3l;
New York, Lake Erie and Western, 473;
do. seconds, 9S; Delaware. Lackawanna
and Western, 1928; New Jersey Central,
1894; Delaware aud Hudson, 1913; Read
ing. sos; Northwestern, 1924; ST. Paul,
1913; Wabash and Pacific, 445 !; do. prefer
red, 81; Union Pacific, ll64; NJ, X. and
T., 433 : Hannibal and St. Joe, 544 do. pre-
ferred, 99l st. Louis and Iron Mountain,
57I Ohio and Mississippi, 39i do. prefer
led, 1925; Pacific Mail, 81; G. {. and |.
c., %; Northern Pacific common, 44s do.
preferred, 69i; Rock Island, 1888; Chesa-
peake and ohio, 1924; Louisville ana
Nashville, So; Nashville and Chattanooga,
IA; Ontario and Western, 35t Manhattan
Elevated, 37g Illinois Central, 1871; Cam
ada Southern, 77s Chicago, Burlington
and Quincy. 1914 Denver and Rio Grande,
9S: 81. Paul and.Omaha, 49,; do. prefer
red, 99t; G. &. &. and l.. IS; Chicago, 81.
Louis and New Orleans, IS; Col. Coal, As;
Ohio Central, 800; Texas Pacific, j3l;
Texas Pacific and l.. c., Slt.
THE MARKET CLOSES WITH A STRONG UPWARD
TENDENCY.
New YORK, February 26.-During the
last bali hour OF business on Wall street to-
day the market was strong ia tone, with an
upward tendency to prices, and closing
prices showed an advance on the days
transactions ranging from about | TO 10 per
cent, Reading leading the upward move
ment. Canada Soutberns rose %; Louisville
and Nashville, "a; st. Paul and Omaha pre-
ferred. o.; Union Pacific. 8; II. and St. Joe,
%; Northwest, @; Western Union. @; New
York Central, 81; Lake Shore and New
Jersey Central, 81; d., l.. aud W., O.; and
Delaware aud Hudson, "a.