Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-02-24

pST CCut. CtcTiluk cACu8ukU o8uAOIu
bills weak at 4S2; demand 4S43.
sILvER-At London 6sld per ounce;
bar silver here llli; subsidiary silver
coin 3(9l per cent. discount
GovHRSMHNr-weak and t@i per
cent. lower.
New rourand
New foun.....: .--.llS,s
Pacific Sixcs OF
RAILROAD BONDS Sin tho railroad
bond market Mobile and Ohio second
debentures, fell TO SO from 81; do. fret
debentures, declined to 82t from "a
New Jersey Central income, TO 1903!
from los. and later recovered to l0I,
Rome, Wstertown, and Ogdensburg
frsts, declined to - from 904; Kansas
and Texas second consols, to IS from
sat; Indianapolis, Bloomington and
Western seconds, to so from 81; and
Boston, Hartford and Erie flrsts, to s.
from 5St; Chesapeake and Ohio hrsts,
series b. declined / to 81, then advanced
to S3i.
STATE BoSDs-Dull and nominal.
Srocys-The market opened generally
strong and higher and subsequently,
rose fraction. making a full advance oi
i(93 per cent, the latter in New Jersey
Central. Before the first board, how.
ever, the market became week and prices
took Q downward turn. Speculation
continued much depressed Throughout,
the afternoon and although there were
occasional slight recoveries, prices con-
tinued to tend downward up 70 the
close OF business, when the lowest figures
OF the day were generally current. The
decline from the highest point ranged
from las per cent the latter in Oregon
Navigation, Pacific Mail selling Off I.
per cent New Jersey Central, Reading.
Nashville and Chattanooga, Northern
Pacific preferred and Chicago and 81
Louis and New Orleans 4 per cent,
Delaware, Lackawanna and Western,
81, Texas Pacific 81, st. Paul 81. Canada
Southern and Wabash Pacific st. Iron
Mountain 81, Delaware and Hudson and
Ontario and Western 81, snd Denver
and Rio Grande 4 per cent. The do
preston Was due to the stringency in
the money market The Erprea says:
The uncertainty in regard TO the fund
ing bill and the continued deposit in the
sub.Treasury here OF gold and legal ten.
ders by the national banks to retire
circulation, were tho all-absor bing topics
of discu ssion in financial circles to-day,
and exercised q marked influence on the
stock and money markets. The sub.
Treasury received Saturday last 81 ,s6i,-
600 cash to retire circulation; on Mon.
day $2, ,572, 900 cash, and to-day - 225,
600 cash, which includes checks
deposited Monday, and collect.
ed through the clearing house
to day. This makes the total cash receiy.
ed at the Sub Treasury here up to the
present time $i,s36,OO0. The banks on
Saturday held only $3,S07, ,275 reserve
above the % per cent. required by law.
30 it can easily be seen why this action
should effect the money market unfavor-
ably as it did. To day money was shaip
at O per cent. at the very opening anu
continued to grow dearrr until after two
o'clock when a call oi loans on the Stock
Exchange rose to l per diem and legal
interest, the immediate effect OF which
was q sharp and general decline in stock
values. The Sub Treasury was . coli
tor at the clearing house this morning 10
the extent OF $ll, ,l76 ono, which 10
very unusual thing. Some of
the prominent National banks are
aggravating the situation y
Inducing their country correspondents
to deposit gold and legal tenders in the
treasury to retire their circulation and
by all manner of threats as 10 what they
will do in the future. No such financial
bulldozing OF Congress aud the Prcsi
dent was ever before resorted to. IL re-
mains to be seen whether Secretary
Sherman will come to tho rescue OF the
money market and thwart the designs
OF those who try to derange tho monets.
ry situation and disturb legitimate trade.
Several large city banks. says the
Post, were heavily creditors at
the clearing house, this morn
ing. They, probably, having
called in loans, 30 a. 10 be in funds 10
pay into the treasury lawful money Tor
their country bank correspondents, pro.
yided the latter elect 10 give up their
note circulation before the refundins
bill becomes q law: or Il may be they
called in their leans simply 10 get better
rates for their money. But We know
that several banks and private bankers
have large amounts TO be used for coun.
try banks, II at the last moment the lat.
ter decide to relinquish their note cir
culation.
The Commercial says: We believe
We can confidently say the close money
market cannot continue over the 4lh oi
March, II 40 long. The incoming ad.
ministration will not allow dollar oil
idle money 10 ~ cumulate in the treas
ury while the Obligation rests on the
government 10 ray Of the maturing
bonds OF 1881.
A dispatch from Washington says:
The banks claim that a. the Funding
bill now stands it wocld be impossible
for the banks desiring 10 20 out of busl.
ness 10 do 20. II 10 now proposed 10
refer the bill 10 the Ways and Means
Committee for the purpose oil amending
II 90 a. to remove this objection.
The PuJiie says: For months the
stockholJer, OF the Nashville. Chstta-
nooys and ST. Louis Railroad have been
striving 10 obtain, through the courts,
some protection for their rights. IL 10
now no secret that proposition 10 lease
the road with guarantee OF per cent
dividends upon the stock vas under
consideration. Such proposition. back.
ed by railroad msgnates OF undoubted
ability, could not have been refused by
a msiority. now held by the Louisvilis
and NASHVILLE Railroad interest, Without
nl,ring that interest 10 . very smbar-
RAISING position in the courts. The only
x.y OF avoiding that embarrassment
Vas 10 do even better for the stockbold-
ers, and the fact that the road Is capable
Of earning more than per cent clear OF
all operating expenses and interest On
the debt, was known 10 the managers
OF the recent movement 10 the market
indicate that some arrangement sans'
factory 10 oil parties 10 10 contemplation
for ali appear to be buying the stock.
But the statement that . foil settlement
has been made and thst all the peojic1
suits have been withdravn u csrtain'y
premature. r .a