New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-03-16
CLOSING pRIOEy OF PRILI DELPHfI STOCKS
Bid. Asked.
MONDAY. March l5-P. VI.

MONDAY, March lo-P. W.
At the opening Of business the stock Exchange this
morning the atmosphere surchdrgrd with fore
bOdnes OF calamitcs. II announced with air Of
wouderment that last saturdays bank showed
that there sixteen banks this city whose
Is below the % per limit The First Nationals the
heaviest, being S6J30O0 under aud the next IL the
Bank OF America next the Chase National. aud
Nassau" some intelligence necessary Tor the gather
ing Of news and also for dissemination. Now
Clearing House Of New-YOrk there nineteen
State banks that IN way amenabe 10
the National Bank law and which, except
OF utter staguaton, never carry reserves equal
to - per cent OF their deposits ana among them are
the soundest banks OF the city. FOR instance the
Bank OF America, which is cited being under the
"lmlt." The Nassau Bank also is a state bank. But
the reserve OF National banks mas been dead
letter since specie resumption January l. 1879,
and by banks OF this city and by
tic Controller OF Currency. AL through l-7) l-sO
and 1881, the First National Bank made few weekly
statements which showed equal to 22 per cent,
ana many that Tar below aud the IS true
of other National banks which It IS not
necessary to name The law Is regarded as
foulsn and useless enactment The Corn Exchange
Bank with us usual average reserve OF l2al5 per cent
and the character OF s business Ia IN safer position
than other banks with different class OF bust
with OF 30 per cent So much for this
mornings attack upon the banks for effect the prices
OF securities The other principal rOOrhack was well
exploited in yesterday papers, 80 wit that the ST.
Paul Railroad Company contemplated the issue OF bonds
par convertible stock at 80. The statement Is
silly on the face OF IT, believe and Informed,
10 absolutely false He IS wise director who tell
what the company may do eighteen months hence II 1t
appears OF bonds provided for the
Kansas city shall prove 20 he inadequate to
furnishing OF bridge, aud terminals. Nevertheless
the additional depressing Influences brought
To bear against the stock speculation Al the opening
And they without effect TIL determined rush was
made upon the whole market and upon ~ Pa In par
tcul The price Of that stock yielded from 9OI2H9Ds
against 9Ua- saturday. 20 $50 the sales OF al the
stock Exchange amounted TO $4,000 shares and 10
closed S9 y over than saturday. IL wd- the
feature OF he day and II not UNREASONABLE 10 sup
that the raiders successful in the confusion
aud decline purchasing Of that aui o. all other stocks
for every they ~Od The general market
tuan fully recovered and closed higher than on
Saturddy-even Western Union shows gam Of . per
Paul AMI Duluth continues TO he exceptionally
strong ana rose from Asa U4-4 10 %. Central ana
Hudson sold exdlYideud OF l per cent payable Adj
IS The sales 81 the boards amounted 20 bO2,i43
shares-446jS3 at the STOCK Exchange and 10000 at
the Con-Otdated-aud the market closed strong
In Government bonds the tone OF the market was
and the bids for the Il and l2S were . oEer
Annexed are the closing quotations: