, 1881-02-26
PRICE slvE CENTS.

tho clos1m So otlay were anxionsly counted.
ns"sy sssa st"s 5 over wr'o " sax ne b S'"ai a
their foails' II rapidly rs human industry
could. Soma Of the best 1ncn OF tho street
fnuNt1. for tho first time, their personal ap-
plleati0n far foans was refused. Tie ncatast
alHl nost collcEse explanation Of the sltunr
tim, according tU tho Commercial 1fducrs
fiscr, WIS expressed BY George b. Satterlca
President of tho Mining Exchange, sin tilt
wise: ut Is Il question, In my mind, whether
tho clirllo Of bankers Is TO dictate To Con
Ercss md the country what is for tho besi
Interest Of tho country, a,ut to manipulate
tic money 1narkrt IN order to depress tho
stocl; innriict."
THE "onArft1c"
says: "Tlcre In excellent authority for tho
statement TINT tho Ereat strtngeMcy llns been
secretly assisted by the large operators on
the bear side, who arc
Still. n1TrEnLy FIGHTING GOULD.
Afr. Gould tnl;es tho situation very compia-
Gently, and quietly assures Ills friends ttht II
they hold OH 10 tileir long stocks for II fort
night they Will doubtless secure profits of IL
to II above tho present prices. The bulls
think that, considering tho excessive Ioantng
rates, tic stock market lles been very we'll
sustained during The past few days, md so,no
bears attmtt this. But that easier funds must
fullow sU0n IL tho verdict Of ail, or 4 crash in
lie street will be inevitable. Il prominent
housc yesterday paid US high rs ~ per cent
premium for loan Of $:}1, ,00o until to-day,
alld Il number 0f brokerage concerns w2re
Unable TO MAXI: Ut THEIR DASk AC-
COUNTS At Ala
II Is saf,l prominent hnusr. unnbtc to borrow
funds oli :,ood securities. was Obliged to take
s;1tU.toJ III securities to its banks. Thts Is
wtaat Is called "1ying dawn on the hank"
M saery f rser % 10 sell % ter saS sseaTitrs sfos FOR
whatever- they will bring. Son1e Of the
lcaiInt. Wall street bankers think It will liz
~ the powrr nf tho Treasury Department to
aeinr y IL" lsc lis nanst s'aS IF st5sSs 'y yyaied led
bonds without rebatc, and 1t IL hoped Sher-
man Will 10 this at once. Assistant
Treasurer I1il!ollso said tIis Secretary wns
iarans. aMi tic prcsent A,lministration IS d..
termlnefl mt to 70 out OF office with panic
tn Wall street.
TILE "EXprEss
says: "Early III the day tlle market wns tle-
closing quotations Of yesterday: The fall III
prices y;li,geu to *. Shortly before noon
l. WIS announced that tlle Secretary nt th5
Treasury l,att Instructed tito Assistant Treas
urer here to purchase Mt par md accrued liz
tcrest any 0f the uncnllcd and per cent
bol1tIs IF lssE. This lad Il b,oynnt effect fur
Il s!nrt time, mud prices recovered to ~
from the lowest n'lnt of lie morning. After
market wns II. II fercrsstt condition, hunE til
tluenccl by tho c'iangin. conrss Of mo.lry
aud varions reports fHnu the Subj IrGasnry1>l
regard to tlle amount of bonds hrsils turllst!
,nl Ies;tI-tendcrs beng deposited tn retire
National bank circulation. After the Seco:!tk
l}narG, there WIS Il renewed pscssurGto to sell,
which carried S0iI'c stocks tldWn still lower.
THE "rosr"
says: "Tho Stuck Exchange hasnot been so
Thoroughly stirred up for 4 lnl.e time Us 1t
was this lnGrntng. In tic early hnllrs there
was cscry Indication Of almntc. Az IL wns.
prices fell ltag rcr cent for stocks. 7+e4
! per cent for ralro oah bonds. Money ad-
y:lncesl t" ~ per cent per day. In addition IL
= per cent per aElnA,,: Foreign exchange
beanie utterly dcloinlizet!. st' t1lat bills rep-
mt be st,ld. When tho oHsltnk was must
threatening Secretary Shernal sent word to
AsslstaEt-rreasurcr lll1'tlousc, to buy Slo,-
9y "f 1 ad sr csnt9 nons ID ;h nayig S
otD.0N called bonds tor which conditional
prepayment has already been made. Tho
opinion nt exper!ensetl Observers ;3 Is; A tEat TO-
ayy aci9n n =" a G rFWsHfify Wiy vi W er e'rsa a{ s s
receipt .of tu-tlay'S order from Washington
sl,;o. go in money was paid out fur bonds
TIE :" COMMERCIAL"
says: "1NaIt street I!As NIT quito shaken of
tho excitement which settled down this
market Is feyerish mud Irregular. The banks
are still calling In tler lonns. Md It Is ncxt
to Impossible to make loan With 4 No. l
security: One Instance l.as come to onr
llotice w|lero one house made III effort to ef-
feet u loaM will. itIl4cst!olabln olHteral ut
twenty different bayEs. but without success.
Treasury to.tay to retire circulation does not
Htsd strength to the condition Of things Con-
slacrable feeling exists against the, pro'not-
crs of tho3ptr cent bill IN not pushing It
lerIl-tulldcrs, for just rs soon rs the lrcsi-
tlcnt sie,!s tho bil-antl Ut thIs fact tho great
est confidence cxiSts-the ti1w Of money tNt1,
from to T. per cent under Ereat excitement,
thu tleclfna being caused BY the extsolnD
stringency ~ noney,;;,, but closed at rccoY-
cry Ut t{tIl per cent"
TIE "rIInUSE"
says: "Jsxclte1Aent marked tho opening and
tito Treasury Department., wllIrh hll held
nut vngstg promises, Of relief the night By
fore, coupled with tho known ligh,ness III
There was pressure to market, stocks, iii.
der which prices rapidly declined. A marked
difference WIS nlat3t between regular anH
cns!i prlces. This difference indicated
Il general apprehension t!lat was fiji ii, re-
gard to tisu rates Ut money. The heaviest
deetine, l'owoyer. tlil mt exceed per cent
n!ld tile pr[ces or nlnl!y stocks were cotIpar-
a,lvriy sently. Shortly betoru l,oHn u Ills
patch WIS received ut tho Slb-Ireusury frUln
thu Department Mt Washington authorizing
tlle pllrcllnsv tnr tho sinking fund OF nut
nure tl,a1l SIC, ,UN.0tD Ut uncaitetl s md per
cent bon!sIt lar artl accp,e.i interest TO tlnte
1T payment. Tho announcement Ut thu Ac~
tiUl, III Secretary Sherman WIS received will.
q Shut n,t the tluDr OF the Exchange. Tho
excitement became still creator than before,
hit tile INCLINATION 10 sacriliep stock was sat-
ltc MIL thu price rallied. At tim Sub-Treas-
ury ,n,.lly h0ltnrs Of these bonds presented
thcn! fur s4le, nhu
W1Ttf1S AN IIOUls
tho Assistant Treasurer l,ll pnftl out about
81 ,5OO, 600, In compliance with tho Secrctary's
ortlur. 'ri.o ensl, deposits to retro bauk cir
cutnt!0n amounted ut tho suits time to over
StfU000 After this offers Of bonds wcro
Ia f.u1