Savannah morning news. [volume] (Savannah) 1868-1887, 1885-11-24
MARKETS BY TELEGRAPH.
FINANCIAL.

LONDON, Nov. %, 1890 p. m.-Consols,
100 9-l6 for money; 1905 for account.
4p. m.-Consols, 100 H. l6 for money; 1909
NEW YORK. Nov. %, noon.-stocks active
but heavy. Money nominal at POS per cent.
Exohange-lOng, 81 82A; snort, 81 S41z. State
bonds dull but steady. Government bonds
dull and unchanged.
500 p. m.-Exchange 81 s214. Money closed
at 215(G4 per cent. Sub-Treasury balances
Gold. $l70,2 2s, 900; currency, $ll.ll4000. Gov
eminent bonds dull; four per cents, 1880;
three per cents, 1925. State bonds dull and
weak.
The most important break in stocks that
has occurred since the upward movement be-
gan took place to-day. 1t Is important both
on account of heavy decline OF 2G4 per
cent. for some of the most active shares AMI
because it has come after ono OF the most re-
markable advances ever made In wall street
in the same length Of time. Conservative ope-
rators have for some time been insisting upon
extreme caution, claiming that the advance
had been so rapid as to make deals extra
hazardous. The cloud thrown over the trunk
line negotiations on Saturday afternoon by
the announcement that the Baltimore and
Ohio had secured New York connection by
way of Staten Island had a depressing effect
upon the market both here a i'd in London.
This morning London quotations showed a
decline of nearly points in leading Amerl-
can securities, and this fact further aided the
opening weakness. The first prices here were
generally 9zCgl1z per cent. lower. The great
est weakness was in New Jersey Central,
LackaWanna, and Reading. The early deal
ings developed a persistent selling movement.
which came both from those who we're seek
ing to realize and active pounding by the
bears TO increase their shorts. Before midday
most of the active list sold Il to over per
cent. lower than at the opening. There was
a partial recovery by II O'Clock, but TINS was
followed bv another downward movement
that continued nearly an hour. 1t was either
at tn time or during the morning break that
the lowest prices of the day were made, the
EnNar IuVr9u a1n NM
amounting TO ~ per cent. IN Lake shore,
New ork Central and New Jersey Central
each 49, Northern Pacific preferred, st. Paul,
and Pacific Mail each ~, Union Paclhc "a,
Louisville and Nashville q {, Reading 2. Erie
and Lackawanna each rs, and others Tor
smaller amounts, except some lOW-prlced
fancies that nave recently sprung into proml-
nence and suffered materially In the reaction.
The weakness after midday was caused by
the circulation Of a report to the effect that
an Injunction had been granted restrhlng the
New ork Central from carrying out the pro-
posed lease Of the West shore, anu Nanuer-
bits were conspicuous for declines made;
Later in the day firmer tone was impaired
TO the market and material advances Inade
before o'clock, but the confirmation OF tne
rumors about the Injunction against the
New York Central. which was p blished later
in the day, gave to the closing feyeri5n, uh-
settled and generally weak tone Inc result
OF the days operations 10 net loss IN quota
tiOns OF between small fractions ana "a per
cent Lake Shore Is down ~, st. Paul }, New
York Central, Erie, Union racine, NOrtneIh
Pacific preferred, Louisville and Nashville,
Pacific Mail. and Missouri Pacific are down
i9I TO / per cent, and Missouri, Kansas and
Texas Is "a per cent. higher. The Lnica 20
pool in this stock Is SAID 20 DC long iU9,VvO
shares. and that an effort would be made TO
force the pool 70 liquidate. Richmond ana
Danviile and Richmond and West Point lose
only small fractions. IL is SAID the palahee Oh
tho oregon Transcontinental loan mas been pee
niaced on very satisfactory terms, sales 169'-
200 shares, the market closing at the following
q