Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-10
MARKETS BY TELEGRAPH.
FINANCIAL
T0NDON MavQ-ConsoIa IOl O. 16 for mone

LONDON, May 9.-Consels. lOl GIG for money;
l0l 11-l6 for account.
NEW YORK. May 9, noOn.-Stocks dull.
Money S(94 per cent. Exchange-long, "a S63z
"a S714; short, 81 SS15C94 SO. State bonds dull.
Government bonds stronger.
500 p. m.-Excnange, 81 S634. Money, go
ga per cent. Sub-Treasury balances-Gold,
$l25,752,OO0; currency, l0,lS6.O00. Govern
ment bonds generally unchanged; four per
cents, l23; three per cents, 1904 bid. State
bonds dull.
At the Stock Exchange to-day the features
of speculation were the strength of Missouri
Pacific, Western Union and trunk line shares
and the weakness in Erie and Northwest. At
the close Union Pacific was also heavy, Not
withstanding the few weak spots mentioned,
there was a better tone to speculation gen.
orally, with more settled feeling than for
some time past. Reports during the day that
Commissioner Fink had withdrawn his resig-
nation had favorable influence on the trunk
line shares. There was less pressure to sell
coal stocks, and New Jersey Central and
Reading were higher on the announcement
from Philadelphia that the Reading receiver
ship had been finally discharged by the United
States Court. Erie was conspicuously weak,
and broke 27s per cent for common and ga
for preferred. The break was due to rumOrs
that the company had much larger amount
of money on deposit at the Marine Bank than
had been reported, and the company would in
consequence be compelled to default on its
June interest Union Pacific opened at 81
but near the close the price dropped to $50,
on the report from Boston that the directors
of the company had met at that city to-day
and decided to pass the July dividend, on ac-
count OF the large decrease in the earnings
The general market opened irregular, and
soon afterwards Reading dropped l% per
cent. The effect on others of the list was
slight. At the first call New Jersey Central
advanced sharply per cent.-a-d a general
improvement in prices took place. Denver
subsequently became heavy, selling down to
10y. Wabash, Union Pacific, New Jersey
Central, and Lackawanna were all weaker in
sympathy. Between IL and II O'Clock the
changes were not important, but after p. M
Northwest fell of u per cent. from the open
ing price. Early in the afternoon the market
displayed considerable strength. Late in the
day Union Pacific and Erie weakened, on the
| reports mentioned above, but the other mar
ket was affected but slightly, and many stocks
were firm. Among these, Western Union,
Missouri Pacific, Lake Shore. Canada South
ern, New York Central, and Pacific Mail were
most prominent. Bold efforts were made just
previous to the close of business to break the
general market by attacking Erie and Union
Pacific, but the reports put out by the bears
were contradlcted. Compared with last
nights closing. prices are "a per cent. lower
for Erie, "a for Wabash and Central Pacific, u
for Northwest. Quincy, Northern Pacific, Ore
gon Transcontinental, and Reading, q for
| kansas and Texas, IA for Denver and Rio
| Grande, "a per cent. higher for Canadian Pa
cifc, q for Lake Shore, Is for Omaha pre-
ferred, 4 for Missouri Pacific, and "a for Yves
tern Union. Sales 100000 shares, the market
ciosing nj the following quotations: