, 1881-02-27

prices thereby entatltng large lossss ~ tnen4
selves"
IN THE PITS.
THE EARLY REPORT.
NEW Yora1 Feb. 2G.-lt was with feelings
nj terrible uncertainty that Wall street
awaited the opening of tho stock market to-
day. after Yesterdays fearful tension and eN-
periencc The outlook for to-day was looked
npon as dubious in the extreme. While
hopeful and even cheerful feelings were cn-
tert:in.d BIZ some, others OF less sanguine
natures shook their heads and still cried,
"Stand from underr's The wrecks that
s1rew the street shores are numbcrles59 Many
operators have been irretrieyably crippled.
Houses that were considered built upon
rocks we're threatened with destruction. Had
the Stock Exchange remained open one-halt
hour later yesterday the disaster would have
been frightful. Consequently, when the
figure was watched with almost bated
breath. In every office groups struggled
around the instruments watching the course
Of things. Operators who are never seen
downtown at so early an hour Of the day
were at their posts, full Of interest, an xiety,
aud uncertainty,
THE MARKET OPENED,
as rule, higher than it closed yesterday.
The solid investment notwithstanding
Western Union, Union Pacific, Lake Shore.
New York Central, Canada Southern. Della
ware & Lackawanna, New Jersey Central,
and Denver & Rio Gral,de-were strong, but
during the first half hour the market was
weak and unsettled.
Then came from the Sub-Trcasury the an
nouncenent that Secretary Sherman had au-
thorlzed Treasurer QilIhouse to redeem tho
SIS, SOC, 900 Of bonds which he called in on
Monday, and which he had originally re-
strlcted for payment i'll Washington, aud it
soon became known that the banks had
ceased turning the currency into the Treas
ury to retire circulation, that they wert. loan-
ing more generously, and were calling In only
such lots as we're found absolutely necessary
for the transaction Of business.
FROM THIS TIME
better and more settled feeling existed in
the stock market.
The reason why several Of the largest
houses in the street refused to sell bonds
yesterday is explained by the fact that They
could receive more on the street for bonds
by u of per cent than the Government
would give them. To-day they sold literally
to the Government at lower prices than they
could get on the street. so that money could
get upon the street.
Speculation continued generally firm. and
prices advanced without any important ILL
terruption. The improvement after noon
ranged from Is to ~, the latter in Chicago
Burlington & Quincy; Canada Southern
selling up 81, Central Pacific 5, Reading 4.
Delaware 6 Hudson 35566, Union Pacific 3137,
st. Joseph 31L9 for common and 33s for pre-
ferred, and Western Union and Rock Island
34. .... .-.-'
DURING THE LAST HADE HOUR
the business Of the market was strong IN
tone, with an upward tendency, and the clos
ing prices showed an advance on tile days
transactions ranging about to Is per cent,
Reading leading the upward movement
Canada Southern rose 9S@: Louisville & Nash
vile, 915; st. Paul & Omaha, preferred, 9;
Union Pacific, S; Hannibal & ST. 10, 81;
Northwestern, 9; Western Union, 6; New
York Central, 5s4; Lake Shore and New Jer-
sey Central, 81: Delaware, Lackawanna d
Western, 634; and Delaware & Hudson G14.
Money is easier, and the rate for carrying
over stocks to Monday Is aboutGper cent and
small bonus. Indeed. the best borrowers
are accommodated at plain s. The Second
National Bank, New Haven, has counter
manded its order to Withdraw its circulation,
amounting to S3G0.000.
The Assistant Treasurer bought 81. .596, $50
bonds to-day. There is some disappointment
that these bonds came in SO slowly.
TIE LATE REPORT.
New YORK, Feb. 26.-Goyernments were
strong and higher.
The features Of the railroad bond market
were Erie second consols, which, on large
business, advanced 35sz, to 9SX; Texas & Pa
citic income land grant Is to S215 from 7S5%< !;
Columbus, Chicago & Indiana Central in
comes declined to 63 from &C, and recovered
to 6511z; Kansas g. Texas seconds declined
2]{. to TX, and advanced to 61L; Boston,
Hartford s: Erie firsts declined to 50 from IS,
and recovered to 55A, and Mobile & Ohio
first dcbentures declined to rs from so, and
advanced to 81.
State securities were dull.
Stock brokers to-day paid as high as one
quarter of l per cent, Plus per cent, for
money. Most loans cost commission of
1-l6@1$ Of per cent The closing rate was
THE STOCK MARKET
opened strong and bu0yant at an advance Of
75 to 3 in the general list and 10 in Reading,
and subsequently advanced 4 to 8. This
WIS 1D!!DWEu W IL lGdEtlul VI W Glt
latter Western Union. Toward noon, how
ever. speculation again took an upward turn,
and, although there were occasional reactions,
the general tendency during the remainder
of the day was in the direction OF higher
prices and at the close tha improvement on
yesterdays final quotations ranged from 2 to
Il, the latter Reading. Canada sold up
9X; Hannibal and st. Joe, 9; preferred, G1l !;
Louisville L. Nashville and Denver t. Rin
Grande, o; Union PACIFIC, 63@; st. Paul &
Omaha, :; Delaware, Lackwani,a s. West
ern ami Delaware s. Hudson. Gs4; Central
Pacific, 65S; metropolitan Elevated, 61(; !;
Rock Island and Iron Mountain, 6; Nashville
4 Chattanooga, 791z; Illinois Central and
Nsrthern Pacific preferred, 5X; Ohio s.
Mississippi, 5@; Pacific Mail and Lake Shore,
5A;Western Union, 81; St Paul, New Jersey
Central, and Cleveland, Columbus, Chicago
4 indianapolis, S; Louisiana and Missouri
River, ~.
TIE ONLY FAILURE REPORTED
was r T. Hoysmill, broker. Liabilities not
large.
At meeting of the Directors of the Louis
pillc t. Nashville Railroad Company to-day
the resignation ct E. II. Green as President
was accepted, and c. G. Baldwin was elected
to fill thu vacancy. G. A. Washington, OF
Tennessee, was elected Second Vice-Presi-
dent
THE "ExpREss'