The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-02-25
WALL STREET YESTERDAY.

NEW YORK, February 24.-1he Post In is inan'
cial article to- day says The effect OF the news thai
II. cal In the stock market. The stock market open
eli in condition OF emi-ranic, aud during me
first hour and hair price, fell 10 , per cent The
change on the news noted was As sudden as can he
Imagined, and prices went back Ike rubber strap
which had b. Ell stretched and d,nly released:
The recovery ranged from | 10 points, ana
where There was something Ike bull panic y
there WIS sudden change 10 bear panic"
Railroad bonds In The first hour and half
were weak and fell ! TO ~, OF which 4Gt2 ger cent.
has been since recovered. the widest Illustrations
having been I'm Kansas ana Texas seconds New
York Elevated first, New Jersey Central cOnyerii-
hes, Louisville and Nashville general mortgages.
G. c. ana |. c. incomes, MOBILE and Ohio teben-
lures, Milwaukee and ~ Paul cQnsOs, Texas ana
Pacific Aud-9rant incomes, and iron Mountain M
comes United states bonds Onened lower Tor the
A.. 4 for the SIS, and I. for The o. Al lhe noon
call there was a recovery of ! in The As, an adj
vance OF I in The 4 IS and So, aud 3 III the o..
The sihUgency Of The local money market
which was most severe before ihe news was
received of Treasury relief, unsettled the for.
elm exchange market, aud IN the hr.t hour ana
half The leading drawers on London twice reduced
Their postal rates, the latter reduction leaving them
at 4S2sa4s5: The actual rates fell To- 4olA@oz'
ana 4s3 10 1881; cables n 4s4@i, and pri ne cora
mercii, 479a TO :. The tone OF TINS market l. I'M
proving as We write. The depression was ctussd
wholly By the money strin2ency which induced
large offerings OF ban kers' bilk. Before The above
news came. stock brosrrs were paying sag.
per day for money IN addition 10 per
cent per annum. and the siIingency was
about as severe 1t svet was IN the worst
lime. The rate mas nOt Ntl laHtu De'"" o
plns q uer GEN.. aud ~ noted whether the sirin-
1ency wi be relieved or noe depends wholly upon
ihe amount of cal "a bouG. Wh ch may be resented
for naymept on The very FAIR terms offered Oy the
Secretary .1hat Is called the moral effect OF The
Treasury Intervention LAS already Seen witnessed
IN The speculative markets.; the actual tneot
drpends on the rrason stated. The Win
drawsls of lawful money from bank reserves
a,e certain, aud ia their eject on the loan
market immediate. The relief l. not 50 certain
but the Treasury appears To have d ns all that Il
can and bo consistent with ITS known policy "hSh
since November hes been to buy oniy ssch bonds as
mature I'm the early ful are and on stcl terms ~
will fully protect the Government. tune loans KID
mercantile paper are haT,iiy quoat Today, me
.tter bsiug nonnally rs they were before The sud-
aen iurn IN the call market from ease to ssrln-
gency. - . , %, A..
Western Union, llfk: American unions L3ss>
New York Central, 1867; Lake shors, &c;
We.tarn. ASH; DO. seconds, 99ss Delaware. Lack
awanna AVID Western. 12Zs. New Jersey central,
100: Delaware ard Hudson, lSIS Reaaiag, 81,
Norhwes,ern ls1; -: Pau" itoii Wso1 81 .s yna
l2O; NJ. X. aud T.. AS anolosi and -, Joseph,
56E: 30. pref. rred. l03Iss -. Louis aud Iron
Mountain. 6ps,; Ohio and Mississippi, A2.; Pacinc
Mail, ssh; C., G.. aud !. a., 23l; Nexthern "a
eide. CON-, 44Y; d, preerred, lO.; central 70
AZ; Louisville and Nashville, 9OS Nashville and
t,hntIauossa, S3s: ontario. aud Western, Sib;
Manhattan Elevated, 3S%; Illinois Central, 1917;
Canada Southern, s21s; d. nyer AMI Rio Grande,
l0l: 81. Paul and Omaha, AN a., = .: snu =,
Pacific and l.. O., 64t Lake Erie and Wesrrn,
IS. -
BALTIMORE, February 24.-virginia 6s, eonsols,
az second series. 81 past due eou pons 93i new
io-i0s, 50; l0'40'', eonpoa, "a, Bid today