Savannah morning news. [volume] (Savannah) 1868-1887, 1884-01-08
Evening Report.
RTN

Pacific Mail q. Reading =, Texas Pacific q,
and Union Pacific q. The market continued
strong till near p. m, when it was an
nOunced from Washington that bill had been
introduced in the House reducing the freight
rates on the Union Pacific and Central Pacific
30 per cent. below the lowest rates current in
December last. Union Pacific was vigorously
attacked and declined l56 per cent, and Cen
trial Pacific went down TO CO.'S. The general
list declined in sympathy, and the short in
terest was largely increased, as the ''bears"
sold all the leading stocks with great freedom.
Northern Pacific dropped IA per cent, Ore
CON TranscOntinental -, Pacific Mail "a,
Manitoba 70, Reading "a, st. Paul rs, West
ern Union Is, Lackawanna - Lake Shore /,
Michigan Central /. Texas Pacific !, New
York Central ], and Missouri Pacific "a. just
previous to the close it was apparent that the
stocks sold by the bears had been taken by
prominent BULLS and the market suddenly
turned upward once more, closing buOyant at
4 sharp advance. a sharp rally in the market
took place after it became known that the
eighteenth section Of the Union and Central
Pacific Companies charter prohibits. in eX-
press terms, Congress from reducing the rates
of fare on these roads until the net earnings
on their railroads-after deducting all eXpen-
ditures, including repairs, furnishing, run
ming and managing the same-shall exceed 10
per cent. upon the cost of SAID roads. This
limit of earnings has never been reached, and
Congress has no power to reduce the freight
rates. or IN any way interfere with them.
Reading was unfavorably affected by the
statement That vanderbilt would oppose the
declaration of dividend on the stock for this
quarter. 1t was reported at one time this af-
tern0On that the New York Central was cut
ting local rates from Buffalo, but nothing de-
finite was known. Compared with Saturdays
close, Western Union Is q, Louisville and
Nashville y, and Lackawanna "a per cent.
higher; Union Pacific, Reading, and Texas
Pacific are unchanged. and the remainder of
the list is l4(0l per cent. lower. Sales aggre-
gated 4}6, 600 shares, the market closing at the
following quotations:
Ala. class 4, 2to5. 80 Manhattan Elev AZ
Ala. class A, small 81 Memphis Char. 1864
Ala. class Il, IS % Metropolitan Ell. 92l5
Ala. class T., As so Michigan Central SO
Georgia Is ------. .lO3f Mobile i Ohio. 81
. Is, mortgage l0215 Nash. & Chatt'a. So
" IS, gold .---. -llOf n. J. Central. 49,. S63s
Louisiana cOnsols 20 New Orleans Pa
\. Carolina, old. % citc, LIST mort $50
" new. ..-..*l6 NY. Central .... ll3R
50 funding 800. New York Eel . los
special tax NOrf. Il W. pref 4O3s
So. Caro-. Brown Nor. Pacific, com. 26lt
COnsOis .--.-- o.. lOl pref. 553<
Tennessee Gs, old. 39f Ohio&Mississippi 24Z
new ...--...- 1863 ." pref. 800
Virginia 6s.....-.f4O Pacific Mail .. 1925
va consolidated 80 Pittsburg .. 1885,
Va, deferred ---.. Quicksilver $500. )
Adams Express. -l2S12 preferred. p
Am'can Express % Reading ......... $50
Ch'peake 4 Ohio. AZ Richm'd&Argh'y 8 =
Chicago Il Alton 1874 Richm'd & Danv "a
Chic. & N'rthw'n Il7l4 Richm'd 4 W.Pt
" preferred .l45 Terminal 1890 1917
Chic, St.L.& \ o. S2I4 Rock Island 49, 1863
Consolidated Coal 20 st. Louis Il san F. p
Del, Lack. & w 1865 4" pref 4I3[
Den. &RiOGrande 24l5 lstpref S9l3
Erie. ...-..- ..-... 27iS st. Paul ....... 927S
E. Tennessee Rd. 81 !" preferred. 1852
Fort Wayne 1913 Texas Pacific. see. 1881
Hannibal 4 st. 10 3Sl2 Union Pacific. AZ
Harlem. 1870 U. S. Express Sc
Houston Il Texas. 40 Wabash Pacific 1917
Lake 1SSs snof SR'r. i s5 Wen Fargo PFe l oSA
L'ville Nash. Az Western Union. 1914
bid. ASKED.
COTTON.
LIVERPOOL, Jan. Z, 500 p. MIXTURES:
Uplands, low middllng clause, January and
February delivery, 3 57-64d; March and April
6 2-6id; May and June. S-64d; June and
July, l2-G4d. Closed firm.
NEW YORK, Jan. cotton firm: middling
uplands, 1890; middlng Orleans, lO7sc; sales
Ia bales; net receipts 2,459 bales, gross lO,lS9
bales.
FUtures-Market closed weak, with sales of
$1,000 bales, as follows: January delivery, 10 Ga
C9lO 66c; February. 10 s49lO I5c; March, 10 90
6gI0 Ole; April, IL O511l1 O6c: May. ii l9c: june
IL 32c; July, IL 44c: August. IL 52(dll 53c;
September. II lSldll PC; October, 10 sOGlO Soc;
November. 10 70Gl0 75c.
The POSTS cotton report says: Future de-
hveries at the first call gained l-100c. and soon
after another 5-lO0c, at which advance about
1000 bales were bought These purchases sat
isiied the demand, and downward movement
set in, which brought prices down again to
those OF the first call, namely. 1-i00c above
last saturdays closing quotations. Compared
with Liverpool values, there Is no room for an
advance here just now. On the contrary, as
usual we have outrun that market Neither
at the second nor third calls were any sales
made whatever. January was offered at
10 Tlc, February 10 Sic, March 10 97c. April
II l2c, May II 26c, June II 40c, July IL 52c, and
August II SIC. Futures closed weak and j. 100
(G4-l00c lower than last Saturday"
GALVESTON. Jan. Cotton steady: mid
ding l0I4c, low middling 8 Ice, good ordi-
nary 97l6c; net receipts ,S64 bales, gross 1884,
sales 435 bales; stock l03,652 bales: exports,
to Great Britain 4,445 bales, to France 1864,
cOaStWlse 2.434.
NORFOLK, Jan. 7.-Cotton steady; middling
l0l4c; net receipts l.Sl7 bales, gross l,SlI;
stock 1910 bales; sales 607 bales; exports,
cOastwise 2, les bales.
BALTIMORE. Jan. 7.-Cotton steady; mid
ding lO5sc, low middling 10 Lie, good Ordi-
nary 913c; net receipts none, gross 100 bales;
spinners 500 bales.
BOSTON, Jan. cotton quiet: middling
lO54c. low middllng 1910, good ordinary 97sc;
net receipts S65 bales, gross 1885; stock 6,ss5
WILMINGTON, Jan. 7.-Cotton firm; mid
ding lO1sc; low middling 93zc; good ordinary
9zsc; net receipts l06 bales, gross los; stock
ll.g5s bales; exports, to Great Britain l,lOI
bales, cOastwise 954.
PHILADELPHIA. Jan. 7.-Cotton firm; mid
ding lOs4c, low middling l0l4c, good ordinary
9sc; net receipts ISIS bales, gross ISS; stock
2,323 bales; exports, to Great Britain 2,2ll
bales.
NEW ORLEANS, Jan. 7.-Cotton quiet but
steady; middling 10 5-l6c, low middling
5000 bales, gross TO- l67; sales 5000 bales stock
413,6Si bales; exports, to Great Britain ,42S
bales, to the continent 6S7, cOastwise 4,512.
MOBILE. Jan. I.-COtt0n quiet; middling
l01sc; low mIddling 97sc; good ordinary 93Sc;
net receipts l,2ll bales, gross 1855; sales 500
bales; stock 64,2l0 bales; exports, coastwise
LOIS bales.
MEMPHIS, Jan. T.-CottOn steady; middling
10 3-l6c, low middling $50, good ordinary &c;
net receipts !, 100 bales, gross l,37S: shipments
915 bales sales 1850 bales; stock ll4,220 bales.
Harg Hagrr ct 4lr~ar Lii
loo, low middling 934c; receipts $50 bales;
sales 800 bales.
CHARLEsTON.Ja Jan. 7.-Cotton firm; middling
1910, low middling l014c, good ordinary CSC;
net receipts SAL bales gross S4l sales 400 bales;
stock 19,l44 bales; exports, cOastwise 2,7OS
bales.
NEW YORK. Jan. 7.-Consolidated net re-
celpts for all cotton ports to- day, 20.O2l bales;
exports, to Great Britain 2l,5S0 bales, to the
continent 2,42I, to France 1904.
PROVISIONS. GROCERIES. ETC.
SANTOS, Jan. 4.-COffee, good average, ), 100
refs per 10 kilOs. Receipts Of the week. 10000
bags. Stock, $4,000 bags. Shipments for the
week, to Europe 1900 bags.
RIO DE JANEIRO, Jan. 4.-COffee, good
hrsts, 5000 refs per 10 kilOs Total receipts for
me week, $1,000 bags. Stock. $4,000 bags.
shipments for the week, to the United states
600 bags.
LONDON, Jan. The Mark Lane Express.
IN It's weekly review Of the British gram
trade, says: "Ihe weather has been damn
fesgy and mild, and the growing crops stand
unusually Wen. Values are tending down
ward, and It IS evident that the lowest point
has not yet been reached for English wheats
Flour has been weaker. Barleys are imprOv-
ing. Foreign wheats have been more dull and
lifeless than ever, and stocks are heavy Flour
has been duh and rather weaker. Maize is
cheaper. Linseed is Is dearer. Other articles
are in favor Of buyers. CargOes of wheat off
the coast are IN small supply, and inquiry for
them has almost ceased; there have been four
arrivals; two cargOes were sold one was
Withdrawn. and three remain. Cargoes on
passage for shipment remain unlmproved, and
quotations have been nominal. Sales OF Eng
fish wheat for the week were 35, l36 quarters
at Sos per quarter, against 3, 46S quarters at
40s I'd per quarter for the corresponding week
of last year"
NEW YORK, Jan. Flour, Southern closed
unchanged. Wheat-spOt firm; ungraded red
B6e(Gsl III ungraded whita, s3ctdSl 10; No, 2
red. January delivery, 81 093s(gl 1918: Corn
spot arm but quiet; ungraded, 5595Te: white
southern, 6S95Oe; No. ?. January delivery
iS(966l4c. Oats-No. ?, 4l(94ILc. Hops
aNii ana unchanged. Coffee, fair Rio, on spot,
5I. aao at l21Sc; No. Rio. on spot 10 65c;
Java 10 Soc. sugar dun and depressed; fair
70 good refining, 57s(g6c; refined closed dull