Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-02-28
BUYING AND SELLING.
GENERAL MARKETS BY TELEGRAPH.
Money At s Per csat-Gevsrsmsnts
Strong and High~er-flOur Gen.
orally firm-whsat General.
y 0ull-Hogs Dull.
WALL STREET A wHlRt OF EXCITE.
MekT.
FINANCE.
New York.


Nsw YoRK. February 25.-MoSsv-
At per cent. per snnum, i9i per diem;
closing at &. Prime mercantile paper
li96 per cent. Sterling exchange
bankers bills weak Of 47si; demand
4s0i.
Wall street and the Stock Exchange
w.re in . whirl 81 excitement at the
opening, but As the market grew strong.
er under the impulse Of the Treasury
redemption, what promised to be .
memorable financial panic proved 10
have been happily sverted, q, least for
the present. At the close OF business
Yesterday, in the language Of broker.
the market was ION end. and the many
Wild rumors circulated foreboded stir.
ring and exciting scenes to-day. Long
before the doors Of the Stock Exchange
were opened for business New and Wall
streets, in the v.cinty Of the E,changr,
were filled with knos oi anxious
o''stis WIZ u'stusS'h tuc tituhNou III
an excited manner. Men from up town
Who rarely VISIT the lower regions we're
there. Business men who had not
specula,rd IN stocks, but were in want
ot money, were there. Customers were
out IN force at the opening Of the mar.
ket, and faces which before had been
glowing were wre eithed IN smiles. Prices
were above closing figures. Whether
the buoyant condition was due 10 the
Secretarys order 0i yesterday MAS un.
known. |, Was doubtless due in part
10 that announcement. but the
moral effect of the knowledge u st
did the exigency arise the Sec OF yhm
slo,Dp.OUO Oi reserves 10 exhaust IN
payment Tor additional hyes and sixr,,
and that IN addition he would purchase
80 .OSb,OtO worth of called bonds rs
ann pnnced, went a long way further
All evidences Of the panicky condition
IN the stock and money market had
passed awsy by o'clock. There vas =
good deal oi mourning among the
"lsmbs who's. margins had hen
wiped out 10y the terrible brrak in stocks
yesterday afternoon. and
large number oi sorroSiul
looking curbstonc operators were Ia bs
seen la New street aud Exchange Place.
The sharp recovery IN prices did no
good 10 those who we're cleaned out,
and they sadly moraliIed on what might
have been. tn. enormous sales ysster.
dsv AT panic prices show that some of
the large Operators on the bear SIDE al
the market mus, have realized fortunes
on the turn to-day. The decline was 90
rapid and tempestuous that il 10 not
probable II was discounted To any CT.
tent. notwithstanding the report thst tho
bear clique, with u large sbOr, interest.
started the break with the object oi
squeezing well known large operators
like JAY Gould, who wer. knoxn Ia have
long line Of stocks on la MI.
In reference IN IN. bank averages, the
COMMERCIAL remarks We have reason a.
believe that tpdsy's bank averages are
about the last that will be reporiei CON.
pleir through the Clearing House sew.
e'al banks will undoubtedly decline 10
make their averages, acknowledging no
Obligation To the Clearing House Ia 10
port their condition other than on the
periodica, Gals of the Bank
Comptroller at Washington.
Jay Gould IL willing Ia be put on
record AZ saying that the end 0i the
money string, ncy Is in sight, that the
public confidence ~ not shaken, that
buyers are numerous and prices wiii
advan"" with n rush. A quietrr feeling
Was reported from the country banks.
aud the opinion OF bank officers IN that
the worst II now over.
President Dowd oi the Bank of Nsrth
Amrri,a, when questioned concerning
The financial condition, said: The re-.
iu1dlug bll ls A. good a. killed, and ]
don't anticipate any further trouble.
besides in addition Ia the ten millions
pad Tor uLcslIed bonds. which is he.
ginning 10 inulAts, the Gov' rnment
oars the cisuiuz hoDs. four millions.
which will hello ih. market"
rr.sIi, mt John Thompson. of IL.
c. H.. ..Si onsl bank, said: 9Th. crisl,
- pest. the banks viii no longer strive
10 protect their reserves. but they ~IIl
-uiy- 81 fOtect their customers. This.
sIih ether movements under way, viii
restore confidence. There 10 no danger
oi smother black Ffidsy."
lie only failure reported vas X. I
Hoy, q small broker. whose lisbilIte,
az. OF large. A. q meeting IL the d..
rect ~ Cf the Louis,Ils and Nashville,
raj rosd TO day. the resignation Of T.. u.
Green. as preside !. was anc~pt-d. and
e. e. Bsldsin elected 10 Hll ih. vscan.
~. q. A. Warrington, Of tennessee.
wss elected second vice president.
The Iot 10 cautious and ssys . large
short interest wAs made yesterday, aud
ii has been mostly covered 10 day, the
buyers ct low priccs yesterday hsyinI
to-day bt~n sellers Ia those Who sold
yesterday. Although all danger u tb.
panic extending beyond the stock mar.
k.t has pass~d away, IL 10 no, a, all un.
likely that a. soon as the sbod interest
in the stoek ma,krt 10 fully covered
prices will react from tire extreme 81.
vance Of this afternoon.
siLvss-At London 81 l 10 per ounce:
bar silver here III subsidiary silver
ooin t(Sl Der rent di,count
GovEKSsEsrs strong and higher
r. = -. lsl