New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-27
LESS EXCITEMENT IN WALL STREET.

FREAKS OF PRICES EARLY IN THE DAY-iNcREAsEp
EASE FOR MoNEY-EFFECT OF THE BELIEF THAT
TIE BILL WILL NOT BE LAW.
The apparent certainty of the defeat Of the Fund
ing bill in Congress did much to restore confidence
at the Stock Exchange yesterday. Although the
early dealings were marked by great e1cite-
ment and q considerable decline from
the opening prices. 1t became gradually
clearer that the dagger of serious disaster had been
averted. Confidence was not fully restored untii
the afternoon, and eventhen it was tinged with ap-
prehension that the recovery in prices mad peen
made too rapidly.
The opening prices we're considerably above the
closing figures Friday but in the first half hour OF
| business they were not maintained. The prices OF
n few stocks declined beyond the lowest
| point reached the previous day. The announce
| ment in tho Exchange OF small fallure
| and the frequent rumors Of the embarrassment Oh
other and larger operators tended largely TO produce
| this decline. But the increased ease in rates Tor
money the buying by outside announce
! ment of the weekly bank statement lwhlch was
much less unfavorable tn an had been expectedJ To-
gether with the order of the Secretary OF
the Treasury authorizing the redemption IN
this city of the $25,O00,OOO called hVe
per cent bonds, and with the frequent
dispatches from Washington that the defeat OF the
Funding bill in its present shape was more tnan
nrobable. combined to reassure the minds OF
brokers' and speculators. Secretary Shermans order
wos received early in the day, and, although the
amonnt of bonds offered at the Sub-Treasury was
NOT large. the influence of his action was great.
The deposts made by the banks to retire circulation
,vere small and in the case Of one Eastern bank the
deposit made early in the day was atterward WIN,
drawn. The falling OFT in the Deposits ana ons
| action of this bank were accepted as lnaicatlons
thot with the defeat OF the Funding DILL tne COLI
traction would entirely cease. - .a,,o,o.
Under the eesan as 70
The confident feeling, indeed, became more
assured toward the close of business and
very a6senGs % o. the makes the onseS
vac prolonged. Prices Of active stocks closed
therefore at nearly the best figures for the day. ano
previously touched within the ca. In not a
few instances the last prices were neaay
to the highest prSes r bFSSy Gysd,nsd Frday after
noon TO 1O6I9. attracted, perhaps, most attention
AZ the opening yesterday the price was ioS anu
after uctuatipg between ana H. aGH dsoiinSsi in Fri
ste larger than those iu Union Pacific but tne a9
vance from 43S TO 47A was not SO great. ir ny au
vSnces were general and the market closed Win h'
Not tbe Ieast remarkable feature in Wall Street
Yesterday the presence OF many persons wno u.
nor often visit it, Judges, lawyers, retired mer-
chants aud Government officers jostled eacn otner ~
the street and exchanged smiles when tney me, me,
| afterWaru IN tuSU UIOhoAo
| exact purpose of their visit can only
| he guessed. 1t may. be tnaI the3
lad received polite requests for more margin OF
t%ev souaht TO make Investments at what they
tboiIlrht 10 be low prices A member OF one OF tnt
largest Stock ExchaDgerms said yesterday aiter tnt
close of business that he had never executed IN OH
doy 80 many orders for the purchase OIL Qua iots "
stocks He said that this had not been pecnliar U
hIs own business and that Indicated purchases .,
persons who bought only what they conld pay toI.
The failure of Robert L. Hoy. when was an
nouncod nc the Stock Exchange early yesterda.
morning caused some surprise. IL IS claimeu ny III
friends that the suspension was caused Dy she iaii
ure of his customers to make goou @ .ne.
margins and that it will be only temporary
| Mir How has been member ol ' .u
Board since the consolidation with the open Doa'u
| of which he had been for several years years.
member. He was formerly junior Partne
of the firm of Vernam q hoy, wlicn ,Nn wa
dissolved by the retirement OF Mr. lernaln apou
three years ago. Fifreep hundred shares OF stoci
Tay: TTeTe they We're 800 Jersey Central :, 1O'
Tsi, nca, ware and Hudson, 200 Northwest. 800 Read
mo 400 Manhattan and 200 Iron Mountain 1
r is understood that private sales were lnhuo ~
AZ me Sub. Treasury 81 G4s550 was paid out u
tra unrchose of bonds for the sinking fnnd ana II
, rnIenntion nJ of called bonds. The tota
omonnt paid out In the last two days
NJ 335 $50 The deposits to retire panS pSo 10o noS
CREMATION were in money. ,po9V,oOo
md IN checks (which will DO pad Monaas
S5S. 300 The total deposits since inc pSassag
of the Funding bill BY the oen'o :
3 are SI44442l5. Following are the names i, -,
banks making deposits Yesterday incag ayos dny