Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-02-26
RAILROAD 'BoNDs Weak and lower.
especially ior speculative issues.

RAILROAD 'BoNps Weak and lower,
especially Tor speculative issues.
SrArK BoSps-Dull.
SroCks-The market opened weak
and lower, and in the early dealings
prices fell Oh sharply under the severe
strain ~ the hardening money market.
Towards mi .lsv d,slinss became some
what trmcr IN tone and partial recov.
cry ensucd. Speculation. however. Was
reverish aud unsettled and during the
afternoon prices gradually declined. In
the last hall hour speculation be-
came wild and under the most
in'ersc excitement prices broke
rapidly throughout the entire list. Quo.
tstions dropped from lG2 per cent. ai .
time. and the downward movement was
continued till q decline ranging from
2Gl1 per cent. MAS recorded. Reading
b.irg the most prominent therein.
Canada Southern fell l6i. Western
Union ii. Union Pacific l3l. 81. Paul
and Omaha preferred l2i Louisville and
Nashville III. Wabash Pacific preferred
II. common II. Denver aud Rio Grsnde
lot, Northwe estern, Lake Shore. New
Jersey Central. Hannibal and ~.
Joseph common and Nashville
and Chattanooga each ~. u.
Paul 81. Delaware, Lsckawanna
snd Weslern ~, Iron Mountain u Pa
.itic Mail, New York Central. and Mich.
gan each ~ Kansas and Texas, Cen
raj Pacific, &. &. 4 !. g., and Louisiana
md Missouri RIVER each 81. Chicago.
Burlington and Quincy6 Erie preferred
u. do common a.. In final sales easier
money brought in buyers. whose pur.
chases resulted IN q recovery oil TO bt
per cent, the latter Western Union.
New Jersey Central, Canada southern.
Lake Shore, Wabash Pacific, and Iron
Mountain being also conspicuous
therein.
The transactions aggregated 10000
shares.
Oi the money market itself this may
We said. Ii was very stringent again to-
lay, with frequent fluctuations IN the
rates Tor ,all bonds. At the opening Of
business there Was n general wish 10
borrow money and per cent per diem
anil In,eres, VAS paid, with reports that
even ~ high as per cent. had been
paid privately. This was followed 10y .
lnclinr 10 ! per cent. per diem, which
xas The ruling rate for q considerable
Ten gth of time Just previous 10 mid
LAY tie following telegram Was received
by Gen. Ilillhouse. Assistant Treasurer
February -. 1881, will be q memor.
able day ~ the history of Wall street.
The luil that followed SheTmAn's IN.
nounc.mcnt To- purchase bonds Was fol.
lowed by iIll that bordered on
pane. All through the afternoon
stocks fell and the excitement Was
intense on Wall, Broad and New strecta.
Small groups 81 excited men gathered
discussing tie situation, and on almost
every lace there WIS an anxious es-
preston aud many q hand that took
tape trembled with suppressed excite.
ment The conflict between the banks
and the Government seemed b. favor
the former, for A. the banks
receivei their checks Tor bonds that
they sold the Government ut ~
soon we're they deposited With the sub
treasurer To retire their circulation. AZ
2:30 the situation Was decidedly critical
and every moment the announcement
that some one or some house had sue.
cumbed was expected. and the constant
suspense and doubt and uncertainty ~.
yravstsd matters beyond description.
Fortunately there WAS not . single
failure; al any rate there was no publ.
cation or any. in the meantime, the
market continued 10 fall sn1 the min.
utcs 10 the closing of the day were
anxiousIy counted. Money wS one
per cent. bonus over night The banks
refused all loans and were calling In
their loans az rapidly m human indus
try could. Some Of the BEST men OF the
street lound for the first time their per.
sonsl application for loans refused.