New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-25

,,o,, ,noerstiyey demands Is prompt ACTON
sne -. - conoress and as prompt an appro'"ior
on 'no pA a. Fyecntiye. so that the dangerous con-
~ "a nov going on shall stop voluntarily
tacsV" ,.,,.a aud limited to the ability OF inc
or 10 -nsa, tIajr own bills. The Secretary Oh
pains " a. dav announced that the Depart"
-, ,v;il redeem the bonds embraced "lthih 'ne
call 1875 O00. 600 upon their presen'a'o az
-. anartment Washingtonl win interes' " So
n,essnationD As there is no longer room lor uo"D'
ssat the action of the banks in renring Vher
Lilo ia one Of protection and not Oh lieN'oe'
AZ least possible that every dollar when
cha Treasury pays out, pending the de',ooiS.lo",
ronoress and of the Executive over the Fana'I1 o,
Ds.a The objectionable clause in it that the banks
,ouds. deposited for circulation, can Do oo'"i"0.
- he the presentation of their own notes. may
.nIv he an additional means for contraction OIL tDe
hank note circulation.
ro-dav,s stock market may be called washington
:, Congressional market. After aa opening WINCH
Svas weak at figures lower than yesterday i"''
,-;ees and a serious decline, the fluctuations "clo
re,nIated nv repOrts from Washington. First came
.ho ,anort that the Committee of Ways ana Means
soa o,oen7ad the afth section by an extension Oh
49,. 20 Santernber l. This being interpreted as
,,s,,y reference to the time when the banks might
h,an possesson OF their bonds by deposit OF laWiui
,,onev as is the case now. had iaVoraole
ss,ect upon prices, and an important rally
Followed. But when the true import OF the
smendment was understood the marker
Necined to figures lower than before. Next came
the Secretary's order to redeem the called
g25 900, 900 of bonds on presentation. Ihls was
goosnted as .broadside" into the banks contrac-
sioo schemen Aud in five minutes prices advanced
f,ou o To 8 per cent But evidently there were
hrarators holding stocks who quickly perceived the
arm effect of that order, under existing conditions
~ literally supplied the market with stocks, so that
: oro,ber decline quickly followed. but not TO the
lowest mint of the day. The decline was checked
bv later widely circulated dispatch stating that
{ Secretary Sherman SAYS: Ii immediate payment
~ the So5 600 900 in bonds called on Monday does
10 at,ord relief other measures will be adopted.
This dispatch was indefinite enough to hold
The market during the remainder of the day
h. feverish aud uncertain condition. Operators OF
MI classes were mixed. but there was sufficient hope
ahat che dispatch did have n meaning, with habl
sufficiently fixed (being now twelve months old o
Swinging that prices cannot decline, to hold figure
comreratiyely strong. The closing prices of SOM
ktoels were higher than the opening figures. not
,vitbstanding money was worth / per cent day
and nnobtaiuable ut the rate. In the meantime the
,lenosits at the New-York Sub-Treasury to-day fOl
REDEMPTION of bonds pledged for security OF banl
note circulation were $1,19s.225 money anC
3, 0O6. ego checks; total, So, 104,885; making 6
total since last Friday of 12226,9s5.
Apnnusually large business was done in Govern
msnts. the transactions aggregating $554000; but
,riees were easier all around. The final bids show
decline of q each for 8s and 5s and efOr IA. An
nexed are the closing quotations: