Savannah morning news. [volume] (Savannah) 1868-1887, 1885-12-10
MARKETS BY TELEGRAPH.
FINANCIAL.

LONDON. Dec. 9. noon.-COnsols, 90 3-l6 for
money; 80 5-l6 for account.
NEW YORK. Dec. 9. noon.-Stocks quiet but
steady. Money easy az 292lz per cent. Ex-
change-long, 81 8334; short, 81 S5A. State
bonds neglected. Government bonds dull but
steady.
at 9Q2lz per cent. Sub Treasury balances
Gold. $l7l,72l,000; currency, 1888, 900.
Government bonds firm: four per cents,
l237a; three per cents. 1885 bid. State bonds
quiet.
The anxiety manifested this morning re-
garding the opening quotations at the Stock
Exchange has not been exceeded at any time
in years past. The death of Mr.. Vanderbilt
occurring when it did, gave brokers and
SPECTATORS time TO think before its effect
could be felt in the Stock Exchange prices,
and the more conservative and thoughtful
operators exhibited a marked degree of conf
dence in the market, but there were very
many others, including a large number of
limited experience in Wall street affairs, who
were carrying for themselves heavy loads on
limited margins, who were very nervous and
awaited developments with extreme anxiety.
There were many orders in the board at the
opening TO sell stocks, especially Nanderhlts.
Fortunately, however, for everybody, there
were also large orders to buy at prices not
seriously below last evenings closing. In
Lake Shore the corner was quiet and patient.
The waiting of the dense crowd of brokers
with orders to buy or sell was transform ID
Immediately into bedlam of intense excite
ment and confusion as the Charman's gavel
announced the opening OF the Exchange.
The opening prices ranged between So and
s5s4. both quotations being maze az inc same
time, and the stock was selling at different
quotations between those figures. The official
opening quotation, however, was 50. There
was sale Of 800 shares at S4sz, and any one
of the quotations mentioned within the range
of per cent. is equally as correct as others
As the opening figure. The bold front pre-
scented by those who were present with un-
limited orders to sustain the market soon
Nd NIa
half hour, although for time business con-
tinued active, there was no excitement. In
other portions Of the Exchange room large
transactions were made in various active
stocks on the list, but the excitement did not
at all compare with that above mentioned.
Prices at the opening, other than Lake Shore,
showed a decline OF "a per cent. for New
York Central % for New jersey Central and
IL 10 ls< for the rest of the active list, except
Louisville and Nashville, which showed loss
of only q per cent. During the hrst hat
hour the market was very feverish, the move
ment erratic. with tendency downward In
some cases, while other stocks were advance
ing. but at the end OF that time more settled
tone was established, and by ii O'Clock the
market was not Inherent from many otheIs
which have preceded 10 during the pact ten
DAYS Prices by ii O'Clock were generally
shade above the opening, ana business driited
rapidly into very decided dizziness, Is much
40 as has been exhibited since the extreme
activity Of last month. At the same time
there was n very firm UNDERGONE, wilma slight
tendency upward. Sales for the fret hour
were large The market was without feature
after IL O'Clock. until late in the afternoon,
when Il developed renewed activity and
strength, while Lackawanna, WhlCn opened
al i22H and crept up 70 1875, rose rapidly on
heavy sales TO 10. The upward move was
accompanied BY sharp reactions, but they
were soon checked, and l2S was reached
shortly before B. There was then a break 70
197lL and the stock finally closed strong az
1919. The friends OF this stock say 10 a. ways
nursues a course similar 70 that OF to-day az
times OF doubt ana uncertainty a. 10 the gen.
erai situation. The rest Of the list Yielded
siightly from the highest prices OF the day,
"a ~ General mark 4 closed steady. Prices
this evening compared with the anal h % re-
1er cent. New Jersey Central !. Reading ~,
Texas Pacific !, and the rest Of the aetVs Els w.,
except Northwest. 1s9A per cent, Io tssll
saie. ese s0o ehares The general feeling this
evening Is one Of increasing c9nii9ae sii,
aithongh FOR the moment faith IN the future
IA based largely upon the belief that some OF
the leading operators will furnish me sapRor ,.
necessary 70 prevent further declines, ~ tley
aid 10 day. rhe market closed ~ the ioiio"-
ing quotations;