Savannah morning news. [volume] (Savannah) 1868-1887, 1883-10-13
Evening Report.
Elm ANHIAI

NEW ORLEANS, oct. I2.-Exchange- bank
ers' sterling "a 81.
Money l1zCg2 per cent. Sub Treasury balances
Com, $ll4, $4,000; currency, 81, 5000. Gov
ernment bonds stronger; four and half per
cents, MS bid; four per cents, l2l; three
per cents. l00ia bid. State bonds dull.
The stock market opened weak to-day, and
declined i49l per cent, but this decline was
soon recovered. Northern Pacific preferred
mOnOpOllZed the speculative attention IN the
early trading. After IL Il. m. little support
was accorded the market, and speculation
continued weak until after , p. m when
prices declined l2(dl34 per cent. the latter for
Oregon Transcontinental, which fell off to
H.. Denver fell rs per cent, Northern Pa
ciGc preferred - per cent. TO 633s, and other
active shares s(d34 per cent. This was
ceeded by a steadIer tone, which, after , p.
M. developed into comparative buOyancy,
Many shares advanced to the highest point OF
the day. Northern Pacific rose to 29js and
preferred to 81 /, Union Pacific to SIS, North
westerns to 100 s, St. Paul to 99l5 and pre-
ferred to lll5, Louisville and Nashville
to as Lake shore 9ia to 99s' Mis- Mis-
Central to 49,, Reading to SOS, Union Pa
ciGc to SIS, and Western Union to 79l4 just
before the close there was a sudden raid on
Lake Shore, which fell of rs per cent. and
caused Il sympathetic decline of l4GGA per
cent.in the general market. The raid was based
on Il report that the Pennsylvania Road had
issued Il circular making sharp reductions in
rates from Pcnnsylyanla points to points in
New York State along the West Shore Boad
in opposition to the New York Central The
decline in the market was brought about be-
fore the report could be investigated. After
business hours it was learned at the Offices of
the companies concerned that the re
ports were made out of whole
cloth, and that the incomplete
state of the West Shore Road, If nothing else.
precludcd the possibility of any such action
rs was attributed to the Pennsylvania Com
pany. The denial was made on the highest
authority, and it was SAID that a prominent
bear operator. who had been credited with Il
desire to cover. was Indirectly the cause of
the circulation of the report. Other reports
which attracted considerable attention were
to the effect that the West Shore Road had
been leased to the Grand Trunk of Canada,
and still later to the Pennsylvania Railroad.
No official confirmation Of this could be OBJ
tanned. 1t is admitted that negotiations OF i'm
pOrtance to the West Shore are in progress. but
theyare not yet sufficiently advanced to permit
any positive statements In regard TO the mat
ter. 1t is intImated that the difficulty between
Texas Pacific and its dissatisfied income bond
holders. Is likely TO be compromised by the
payment of the back interest claimed, partly
in scrip and partly in cash. Denver is weak
in consequence of the issue Of 81, 000,010 OF new
bonds and $4,000 600 Of new stock. Compared
with last nights closing prices are 19GllS per
cent. lower for Denver, trunk lines, Oregon
TranscOntinental. and Gould stock. Chicago,
Burlington and Quincy. Lackawanna, Mani
tOba. and InlOn Pacific are, however, as
per cent. higher. Changes in specialties were
again important. Chicago. St. Louis and
Plttsburg fell OF rs per cent. to IL, and pre-
ferred g per cent. to 49, The former subsc-
quently rallied to y bid and the latter to 40
bid. Alton and Terre Haute preferred sold
down per cent. to 81, Milwaukee. Lake Shore
and Western preferred 81 per cent to 36l %
Minneapolis and st. Louis per cent. to 20.
oregon Improvement ~ per cent. to 10, Colo
RADIO Coal y per cent. to 1871, and New Cen
tral Coal per cent. to 9. Sales 329. 100 shares,
at the following quotations: