Savannah morning news. [volume] (Savannah) 1868-1887, 1885-09-11
MARKETS By TELEGRAPH.

BERLIN, Sept. 1o.-The weekly statement of
the Imperial Bank of Germany shows a de-
crease in specie of 4,919000 marks.
LONDON. Sept. 10.-BulhOn In the Bank of
England has decreased FL, 507, 609.
PARIS, Sept. l0.-~The weekly statement of
the Bank OF France shows decrease of
2,2lO,000 francs.
NEW YORK, Sent. 10. noon.-Stocks dull but
steady. Money easy at per cent. Exchange
long, 81 S2lz; short, 81 $40. State bonds neg
lee cd. Government bonds quiet but firm
$500 p. m.-ExchaDge "a S21z. Money closed
at Dol per cent. Sub-Treasury balances
Gold. s15l 740, 900; currency, $26,b57 600. Gov
eminent bonds active ant strong; four per
cents, 1895; three per cents. 1881 bid. State
bonds neglected.
The stock market to-day has been dull,
feverish and irregular, and during the after
noon decidedly weak. The general demOrali-
zation Of freight rates, which has extended to
the South. is having a depressing effect upon
prices. Dispatches from Chicago were cir
culated here this afternoon stating that the
open rate between tn city and New York
was down to &c. per 100 pounds, and TO Baltl-
more to Sc. The feeling is that the whole rail-
road situation is in very unsatisfactory
condition. In the local trade there has been
a further reduction in schedule prices, while
the companies are selling with little, II any,
regard to such schedules, but at such figures
as are obtainable. Prominent officials con-
nected with some of the leading coal com
panies say that the condition IS going from
bad to worse, and that most serious results
must follow unless a change is made soon.
Conservative houses continue to advise their
customers not to buy at present figures.
Much interest continues to be felt in the
transaction consummated yesterday by
Union Pacific. By which it has at least
changed the character Of its floating debt.
The street. however, regards the secrecy
which surrounds the proceedings as SUSPECT
Gus. The opening prices did not differ ma
terially from the closing quotations OF yester-
day, but the highest prices to-day IN most
cases were made at or soon after 10 O'Clock.
Although the marbet was very irregular,
fluctua ions generally were within narrow
range, and in n few instances sales slightly
higher were made after midday. This was
true of Lackswanna, Northwest and St. Paul.
Very decided weakness was developed. how
ever, in the afternoon, in which Nanderbilts
took the lead on the rumor that the directors
of the new , DIRK Central. at a special meet
ing, had decided TO pass the next dividend.
Late in the dav this rumor was denied. and u
was stated that the subject of a dividend was
not discu -sed at the meeting, which was de-
voted wholly to West shore affairs. IL was
understood it was decided to call special
meeting of the stockholders Nov. to vote
upon the lease of the West Shore. An effort
was made to check tho decline just before
d. m which resulted in the closing market IN
many cases a small fraction above the lowest
figure, but Lake Shore was down per cent.
from last evening, and New York Central I1s,
after a rally OF y. Reading was Il per cent.
lower. Other stocks show less than per cent.
change. Lake Shore was the most active
afoch Sales DIS GOO gnerpg the market closing