New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-10-10

dence that any unnatural OF extraordinary inethous
by the Government TO relieve monetary strngehcy
result in future greater evils. In OCTOBER. 49,
the monetary stringency was very great ana stoch
spectators were obliged to pay as high rs 4 10
per cent day for money for several days, ana
stock panic was imminent. At the critical moment
Secretary Boutwell, issued $1O,OOO,OOO legal
tenders and deposited them in the New-iork banks
The panic was stayed money became easy and stock
values had temporary advance. Because OF a
panic the doors of the Stock Exchange were closed
at mid Law on September 20 1878, and remained
closed until September 80 Secretary Richardson
follo5ed by liberal purchases of bonds, and finally
increased the issue of leiatenders by S26OoO'oooi
but while in October 1872. an issue OF $lo'OoOooo
gave temporary relief H. the winter OF 1861 III
issue Of S26,OOO.O 900 was as little elective as !"
sieve for the purpose Of a water-dam
The foreign exchanges were dcmorailZed Dy INC
stringency OF money an the actual rates tor prime
bankers bills declined TO 81 IS > and : 81 Tor long
and short sterling respect voly, and Conunehtlis
were down to So 27 and 50 23li for francs 03i ana
04as for reichmarks, and 39l2 and 39a for guHuerS
At the close, however, the market was hrmer VIII
out any actual advance in prices. The weekly state
ment of the Bank of England was a SURPRISE ho'
so much because of the loss OF e1,374,oOo Duliioh
during the week. principally Withdrawn for ship
=
of II 1-1G per cent-frorn ALL 10 80 3-16-in the
reserve the percentage of reserve to liabilities now
being If 1871 less than il was at the sane date
year ago. The domestic exchanges on New-fo rk al
the interior and other Atlantic cities steadily ruled
against New-Yorl until yesterday, when, as Is re-
ported at Boston the rate suddenly advanced from
% cents discount to 30 cents premium !l. lhcre u
no imported gold remaining unpaid for III the Assay
Office except the $I2490O that was received yester
day
AT the Stock Exchange the markets for all kinds
of securities were weaker and there was n sharp de-
cline in the prices for nearly all the shares. Other
influences than that of money affected the marker,
bccausc although every day except Saturday money
commanded a premium, the strngency was much
less severe than the stock market before has borne
for many DAYS without yielding more than fractions
of per cent, and because the idea was cncouTaRtd
and generally entertained that some relief W9ud 10
afforded by come act of the Treasury. Indeed,
efforts were made TO create the Impression tlal
nothing but money was the cause of the decline III
prices while those most eager to give currency 10
that idea the largest sellers of stocks At every
favorable opportunity.
a general yielding of figures, SO that AZ the end the
final bids show declines for the week ~ follows:
Continued IS Is LIS and Is each ", and continued
D, L. per cent On Monday the "iirrS To sell 32 per
cents 10 the Treasury alnOu ted 10 SG1 lO.1oo, OF
which $2,OO0OUO was accepted at par ana interest
The features that the Government purchases nave
revealed Is that so large an amount OF the ,olu"'"
bonds are held by other than permanent investors.
The offer, and purchases thus far show that nearly
$4,000. 900 was held for market. How hu'h
Larger The aluo M mas be cannot hc known.
STATE bonds were less active, but prices were very
well sustained and the Arkansas - to the railroads
lost only l. per cent of the preceding week large
advance. There was little of special significance IN
the dealings m railroad bonds beyond thht Tor some
of he speculative ISSUES there were unusual nue.
tuutIous that generally followed the movements OF
tLe shHrr market Ihe market Tor stocks was ac-
tive and the transactions for the West amounted
10 2I7I2t3 shares agaIns l,j1G,O3O Tor the pre-
ccding week ID days. Ia the decline the Nandrf-
bilt stocks have suffered the most OF the general
list but there are a few exceptional stock Ike
Reading (Which shows "a final loss oi M per cchu
that declined more. Manhattan, Tor an exception
on the other side, shows gam OF 10 per cent hr
week closed with an apparent better f. ing ihlh
hau prevailed during the early part OF tho week;
bu: il Will be dincult 10 say hOw much OF ~ "as
assumed to CIV significance &" rumors 81 cabinet
changes and nov much OF 10 was because 90 the
bl,,ipr IN oi "shorts" he real situation, both IA
ana out OF the market, was unchanged, aud There
was uu buying, either Tor tine long account or to
close contracts. except 10y professional dealers
WEEKLY RANGE or PRICES.