Savannah morning news. [volume] (Savannah) 1868-1887, 1881-02-28
THE STOCK MARKETS.
SaturdayIn New York and the Week
In London

New YORK, February 26.-The stock
market opened strong and buoyant, with an
advance of from Il to per cent. in the
general list, and 10 per cent. In Reading,
and subsequently advanced u to 8 per
cent. This was followed by reaction of
from Il to 81 per cent, the latter in
Western Union. Towards noon, however,
speculation again took an upward turn, and
although there were occasional reactions
the general tendency during the remainder
Of the day was in the direction
Of higher prices, and at the close
the improvement on yesterdays final
closing quotations ranged from to
Is per cent, the latter in Reading. Canada
Southern sold up 9T per cent, Hannibal and
st. Joe 9, do. preferred 615, Louisville and
Nashville and Denver and Rio Grande 9,
Union Pacific SSs, Union Pacific Ssz, st.
Paul and Omaha 2, Delaware, Laekawanna
and Western and Delaware and Hudson
6s<, Central Pacific 65S, Metropolitan Ele-
waited 81, Rock Island and Iron Mountain
8, Nashville and Chattanooga ~, Illinois
Central and Northern Pacific preferred 5s<,
Ohio and Mississippi 81, Pacific Mail and
Lake Shore 81, Western Union 51s, ST.
Paul, New York Central and c., G. C. and I.
., and Iowa and Missouri River ~ per
cent.
The sales aggregated 6I1,0O0 shares, in
Guiding Canada Southern 1900, Delaware,
Lackawanna and Western 38, 400. Delaware
and Hudson 10, 800, Denver and Rio Grande
lO,40O, Erie 60,500,s Hannibal and st. Joe
1900, Iron Mountain 1900, Kansas and
Texas IL 100, Lake Shore 81, 800, Louisville
and Nashville 2, 800, Michigan Central 5 800,
Manhattan Elevated II, 500, Northwestern
81, 100, Nashville and Chattanooga IL, 800,
New Jersey Central Il, 400, New York Cen
trail IA 200, Northern Pacific 12,O0O, Ohio
and Mississippi II, 400, Ontario and Western
2l,1OO, Ohio Central $1,000, Pacific Mail
17,4OO, Reading IL 800, St. Paul 26, ,3O0 st.
Paul and Omaha {, 800, Union Pacific 81, 300,
Wabash 25, 400.
LONDON, February 26.-The Economist of
this week says: ''The rate of discount for
bank bills at sixty days to three months
was 2s9 per cent, and for trade bills at
sixty days to three months 2sz to per
cent. The Stock Exchange is still supported
by the firmness of the Continental bourses,
although it has lost the sustaining influence
OF New York. Money for speculative pur-
poses has been easy. External influences
affecting prices were thus mostly favorable.
Nevertheless, home investments were de-
pressed. Most home railways closed
att, at the lowest lowest point Of the
II
United States lines in general deprecated, |,
in some cases extensively. Indeed specula-
tion for rise in the older securities ap-
pears, for the time at least to have ceased.
1t is difficult to assign cause beyond the
fact that last year the advance was too
rapid and the public have so far committed
themselves to new undertakings that they
are obliged to sell out existing holdings to
provide the requisite subscriptions. In
foreign governments, Russian and
Turkish, In consequence of less hopeful
views Of the Greek difficulty, are lower and
closed fat. Hungarian are higher in conse-
quence of the proposed conversion. In
American railways New York, Ontario and
Western declined 4, st. Louis and San Fran.
cisco 3, do preferred 5, Central Pacific and
Ohio and Mississippi 2 each, Ohio and Mis-.
sissippi preferred 81, and Erie preferred 8,
but st. Louis Bridge preferred are per
cent. higher"