, 1881-02-26

t1HSS from ME LuT I'LL lAtiEIlIIlL llHtuUSl "
years. Ii II tho clcarest business prlncin!ce.
nnl persons who fut!lr most over tic VIII,
.lra~al Ut the 1alk-nOtu. ,cIreNlntlt}n would
n,lmlt tho principle readily enough II Tho
bill! affected their oWil business"
THE DUEL
BETWEEN TIL: GOVERNMENT AND THE rI.c-
Turi,.Ars.
NEW YonK. Feb 2a--Of the money mar-
ket itself this nlny be said: 1t was stringent
ngntn to-day. with frequent fluctuations In
ruies for ca1i loans. At tho opening tl!orc
WIS Il great rusi 10 borrow money, And per
cent pcr 4lem nln interest wns paid, With rc-
ports that ever, N high rs " per cent had
been paisi privately. rhls was fo!lnwed By n
decline to Il percent per tllen, ,whiei, was tho
ruling rate for some length at time. Just
previous to midday the following telegram
was recccciyetl by Con. 11lllhousc, Assistant
Treasurer:
wAs,,1s6roS. y. C.. Fe.,. ..;.-YoM aru nuilsor-
erctltng S!V,u{1,tNN uf ur 0 per cent !hcNlletl
bnn'ts Of ISL 1T par and ascr!ling st1t.rcat 10
tlnte Ut payment. JOiS siElMAS,
Tl11s CAUSED susIt: IMPROVEMENT IN THE
SITUATION,
and was counted upon to bring gradual re-
lief, although tha opinion was freely cx-
pressed TINT the Secretary should have asked
for proposals anil bought tho bonds in the
us,n way, instead Ut fixing nj arbitrary
price. As Snon lis 1t becaN,t known the Sec
retary was willing to take NncAlled and
per cunt bonds Of 1881 nt par anil accrued III
terest to date, some holders began to turn
them In, and nlnny brokers scoured tho street
md bought wIla. bonds they coull get ut
once, at so'nethlng Hboye Tue ssefstarys
fcreu by this TRANSACTION represented tiio
bnll,Is paid for money, which. III most eases,
was less than tho commission III ahutttol, to
the legal intersst carged IN Tug .,,a!t arknt;
whit lnutlny they wanted; asld sec1nd, tley
turlletI luust' from the Treasury mulley which
heretofore WIS practically locked ny.
NOTWITHSTANDING THIS All.alsEST RELIEF,
money wor'icu closer a9all, from { of per
est transactions u of per cent per diem.
The uiTcct OF thiA condition Of tho mDllcy
market was felt outside Of Wall street. For
rign exchanges were completely 1e!lhrll"
izeu, important movements In produce eH-
pecfaliy for export. were brought to !! 6tu1Ni,
mercantile business .Wns uHfavnrably nf-
fccted, anI IN fact, NIL tho Interests pf tho
eon"try wcre gel,E injured hy io art!on o.
Secretary Sherman. Tile disbursements OF
the Treasury for h1l,ds purchased. to-day
were mt sufficient In amount to relieve tho
nEse ;a ast r aa p M N s per ss "
y
lay I'll addition to per cent pcr nntl1n. The
Indications aro that tllu worst Of tile money:
strlnstilcy has brcn seen, mid that ruteS Will
begin to wano. Tomorrow. It depends on
whether
TIE DEPOSITS or LAWFr1. MONEY
10 withtraw lloto. ctrculattn,l continue Or
not. There was II heavy falling of IN these
to-day. SetonIly. 1t depends ot the prnnpt-
Hess with whicl, tho huttlers Of unca!iGd .
per cenl bonds and q per cent bnlltls present
them for p;ynlent. The Indications In this
resprct are that the rnttre Sl0,00o, 200 Will by
supplied tile Treasury, and Lie amount OF
new money wtl be IL The oans y tclore tho
sollnble to expect thnt Mr. Sherman, II 10
li1tls SlO,Go0,U00 not enough tn relax thu
s:rlngcl,cy, viii lisu h!s entire snrl'lus rev
for tie business Interests g t!le country, tho
Sf lie. EThs Trcasiiiry 'fi to4,ay paIdi
out lor 8 n,M 4 per cent bnn.ls;
sa,Gyl,W III lawful nloNry. The Treasury
tt-tlAy took in lnwtn! lno1,ey % tho HlnosInt
Of S77i.by. delosltel BY ltic ;Na;tonal ;.; banks m
e. M Mcoi,ntrd in to.iay's ticpaslts sl,910cJo
collected ut this clearinghouse a'l, checks
.!epus!tesl yesterday, 'f!lis makes the total
deposits III thu Nsw fork kSnt,rfc:sMry since
tho Senntu p,lssel! this ltutullllnE bill fOr tho
purposes ,,a,llrd, ~, ,GG::w.
kiernan's News Agency sctltls out tho fol-
W.s,f,.nr,x. II O. firth o5.-..rbo tu1auc,
rea,ilr,'I far hi, slnking find for tfis ycar
H. tn III, fSx, n,Hi lin Stru.t,rv xuyx Ia ,.nu
it,a n".l,Is. h,nt. ntaf,.n',mt in-n,tirrnw Il
tnt,., Ia III ,,nY,vnr"i,in an. mn, vnrv i1ini,.
Il Vii ~ s,,,v t1,"t r." i.Mss nr" t,i1w III,
isri ii",it nj y. -" ,,.r "',,,t r'.,Iir"I iy liz
E1tn"n' f,,ni, m, ~' ti'h" rus,.rvn ~ ~"
h""isu ~ ~ t,H ms, ''o'' 4"o o' '''o
0""A' =. ~. ,''' a'o
on ESfHAotplSAhf OCCASIONS,
that lart of 1t Inns bum used to brng ~, I.
KellerAl pnaic It viii causo SURPRISE, mn!
hllonsa CAUSE repFonell. At ono ttniu l1.tiay
It WIS inllHlsalAt 10 nave ny tilo hlle nl tor
t!En bills nf exchange, uur exlMFtAolt An-
nestle products.
THE TltlDrSE
las au edItorlal on tho proceedings ~ Wall
AMI sIy.: !. In hainess.,,,HtI mi.,,.l bt IL Iii