New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-26
NEwyoRA DAILY TRIBUNE, MONDAY, SEPTEMBER ae. 1891

OF accruing expenses and interest, unless a draft
was to be made upon the reserves held against the
outstanding legal-tenders. great pressure has
Deen brought TO bear upon the Department to reduce
Inc amount OF reserves Seemingly tho effort has
proved failure, and the country NAV take heart
that tas III appears the Department has decided to
take no step which shall jeopardize the present fne
mat legal-tendeT note is MS good as poldn A
single encroachment the Treasury preserve ;,
would encourage greater demands to comply with
wmch would require draft double the amount of
inc nfst encroaehinent, and so it would continue
until the reserve was reduced 80 point where spec
ulators could, ut any moment, force suspension of
specie payments. There is little doubt
that the surplus money between now and
Decemuer "a Will provide the means for
the payment of the 500 900, 600 called to mature
at that date and for the redemption of such portion
OF the $lO,oOO,OO0 offered to be paid as NAV he
presented In October If the revenues continue ex
cessiNe through October the Secretary may repeat
In November what he offers for October. The Sec
retarys action shows recognition of the necessi
Ties OF the public, but it also exhibits conserya-
isni 'ht rSts considers the conditions and require
mentS of the Department
About all that need be SAID of last week,s Stool,
Exchange markets is that they were moderately
strong all the way out While the activity was not
general at any time nearly all the prominent secur-
tiles enjoyed their special seasons. There was much
laih OF secretary WINDOWS intention in regard
to the purchase of b onds, aud some unwarrapted
assertions of intended inf alton by use of Treasury
reserves were made effective in sustaining prices
While few persons believed that there was to be any
departure from conservative policy the talk WAS
suthciently emphatic to create doubt in the minds
OF some of our best informed bankers The stub
oornness of the price for Government is encouraged
belief that some one was informed of the Secre-
tarys real intentions, and that those intentions
were to relieve the money market of Wall Street
at any expense to the soundness Of the green
back circulation. These were the conditions
that ruled the markets last week, and the
on Is " made them effective as il
was possible to make them. The death OF
Presldett Garfield was without damaging effect (as
III should have been but 1t was used TO advance
stocks on the plea that element o uncertainty
was removed, and the two hours session of the
{ Board On Tuesday witnessed an active market aud
higher prices that made scramble by the shorts
for stocks. The railroad was ignored excelt by
the rumoTs OF settlements andl contradiction
of the rumors was the sounding note for
unusual activity and higher prices for the trunk
line shares. In fact stock spectators in
New-YOk We'd with grain spectators in
Chicago all the week in the marking M of values for
their respective commodities Ii not until after
the close OF business yesterday that Secretary Win
doms call Tor bonds belied all the niereuces that
were drawn from the week rumOrs of his intentions
o. stocks the total sales for the week amounted or
to l693 962 shares against 39 $50 shares FOR the
preceding week.
WEEKLY RANGE OF PRICES.