Savannah morning news. [volume] (Savannah) 1868-1887, 1883-10-23

NEW ORLEANS. OCT. Z2.-ENClange-Dank-
ers' sterling 81 S0l 9G4 81.
NEW YORK, Oct. 22.-EXchange, 81 500.
Money 81 5(I2 per cent. Sub-Treasury balances
Com, Sis, 2SS,000; currency; So 500, 600. Gov
eminent bonds strong; four and a half per
cents, ul55; four per cents, l2l34; three per
cents. 100 bid. State bonds dull.
The stock market opened active and en-
cited At the first sales Northern Pacific pre-
ferrcd were offered at 90, 60l2 and 81 .,
against 5lla at the close on Saturday, but
other active shares were all higher. In the
early trade Northern Pacific common ran OF
To 25a{. against 21lG27ls .. At the opening the
dizziness in these shares was due to "bear''
manipulation entirely, it being stated that
prominent operator on the short side had Dor
rowed a round amount of preferred stock and
offered IL at easy rates. with the view of ere
ating an impression that the stock more
plentiful and not wanted owing TO closing of
the books, but the weakness was of short du-
ration. Before io;," a. m. strong buying
movement set IN, which gath
cred force as the morning advanced.
The cash sales were in Northern Pacific at
p 1, 81 p .. and preferred 65 4, 81, 62l and
So, difference OF tCG23f per cent. 4 sharp
rise and activity in these shares caused Il
general rush 10y the bears for active stocks,
and the excitement at one time was intense.
About midday there was a regular bear panic.
and the shorts, in their anxiety to cover.
rushed prices upon themselves. 1t was ru-
mOred at this time that Union Pacific, Oregon
TranscOntinental and other heavily OversOld
stocks were 10 be twisted. Canada Southern
rose rs per cent, Canada Pacific T.. per cent.
to 81, Central Pacific ~ per cent. to
415, Northwest Is TO l2O2s, St. Paul,
rs per cent. TO g5'i, Lackawanna p per
cent to lHla, Delaware and Hudson per
cent. to I03. Louisville and Nashville y per
cent. to 1875, Lake shore Ia per cent. TO 96l 4,
Michigan Central per cent. to 81. Missouri
Pacific rs per cent. to "a, Jersey Central
per cent. to So 4, Omaha preferred Il . per
cent. to % !, Union Pacific Il :. per cent to 50.
Wabash per cent. to 49, ), Western Union ll9
per cent. To 49,. After I p. N. the excite
ment subsidized and there was Il reaction of 4
al per cent, in the general list, and 2G5l per
cent. in Wizards. Northern Pacific sold
down to -, preferred to 6l3I, Oregon Trans
continental to AZ. The reaction was due to
a realization. Towards p. IN. another buy
ing movement set in and Western Union
moved up Ia 16's, Oregon TranScOntinen-
tai to 49,, Louisville and Nashville to 49, a,
Union Pacific to ~, Northern Pacific to 3ot
do. preferred 10 6Sl :. Northwest to I2034. In
the last half hour the bears vigorously attack
ed the whole market and depressed prices ga
y per cent. in the general list and 4 ,(G9 per
cent. in Wizards. \ raid near the close, engi-
neered by operators who have been prominent
on the bear SHE for some time past and are
DESTROYS Of checking the improvement before
public sentiment changes to the bull side. On
the other hand. il is reported that the bull
party in Northern Pacific intend to follow up
their movement IN stock and hence encourage
short sales. important developments are
expected in Oregon TranseOntinental, and
il is stated that Il powerful syndicate
has been formed in the stock. Compared with
Saturdays closing. prices were 13Gl7s per
cent. higher for the general list. In special
ties Cleveland. Columbus, Cincinnati and In
dianapols sold up "a per cent 10 IS, East
Tennessee preferred i per cent. to Is, India
napolis. Bloomington and Western per cent.
to q. Nashville and Chattanooga 81 ! per cent.
To IS, st. Louis and san Francisco preferred
per cent. to 49, Colorado Coal y per cent. to
Isl 4. Manhattan Elevated fell on to Is. Man
haitian Elevated new to 434, Metropolitan
Elevated declined TO ~. Transactions were
36j, G0o shares. at the following quotations:
Ala. class \, 2tO5- slla Manhattan Elev 42l.
Ala. class 4, small 81 Memphis Char. 50
Ala. class b, IS 80 Metropolitan EI.. 90
Ala. class &, As o. Sli2 Michigan Central S0l4
Georgia Is .....%l02 Mobile Il Ohio. l0l2
- Is, mortgage l04F Nash. n Chatta. 81
- IS. gold --.-- ll6t n. j. Central S3ss
Louisiana COnsOls 1llS New Orleans Pa
Y. Carolina, old. 30 cilc, LIST mort iS2
- y.---.-.-..fl6 Ny. Central 49,. iT434
. funding -.... 10 New York ri *95
- special tax. NOrf. n w. pref. 80
So. Caro-. (BrOWnl Nor. Pacific, com. %
cOnsols ---.. .l0lf pref. CTS
Tennessee Us, old. "a OhiO&Mississipp 2724
new .-.--.--.t3A pref. 100
Virginia 6s. 80 Pacific Mail 35
va consolidated. al. Pittsburg ......ti35l2
Va, deferred lilo Quicksilver 49,. o..
Adams Express. = - preferred %
Am'can Express. 50 Reading ..-.---.. 50t4
Ch'peakc y Ohio. II Rlchmd & AIShy
Chicago y Alton 1907 Richm'd y Danv $40
Chic. & N'rthw'n .li9 Rlchmd n WIZ.
- preferred l39 Terminal ---.-. 2134
Chic StJSN.O. S3iS Rock Island. 900. ll9
Consolidated Coal % St.LOuis X san + 22l2
Del, Lack. x W .li2is pref. 42'2
Den. x RioGrande - LIST pref 81
Erie ----....-.---.. 2S1s St. Paul $500. $3.50
+. Tennessee Ri. preferred. .1l534
Fort Wayne 1927 Texas Pacific $50. 2Ots
Hannibal & ST Jot4O Union Pacific. SIS
Harlem ---..-.-...l 100 U. ). Express IS
Houston Il Texas. 10 Wabash Pacific Is
Illinois central l2lii pref 81
Lake Shore ...... 49, Well Fargo. ...ll3
L'ville 4 Nash. 413s Western Union. 1874
Bid. ASKED.