Savannah morning news. [volume] (Savannah) 1868-1887, 1885-09-05
MARKETS BY TELEGRAPH.


LONDON. Sept. 4, moor. -Consols. 100 lie.
NEW YORK, Sent. 4. noon.-Stocks quiet bus
steady. Money easy a. ] per cent. Exchange
long, 81 S213; short, s. s412. State bonds neg
lected. Government bonds dull bat strong.
$500 p. m.-Exchange 81 SO. Money closed
at l@pa per cent. Sub-Ireasury balances
Gold. sl50,3l20O0; currency, s26,Si6,G00. GOV
eminent bonds strong; four Ger cents, 1913;
three per cents. l03 bid, State bonds steady
The feature of to-uay's stock market has
been heavy decline in Union Pacific, accom-
panied by heavy trading in stocks, the sales
aggregating AGO shares, or over 81 per cent
OF the DAVIS business, the early publication OF
the Union Psclfic's statement for July show
Ing loss IN the gross earnings Of $10.7UJ. At
the same time that there was an increase in
the operating expenses Of Sl57, 1893, hat de
pressing checf upon the price. and everybody
appeared willing to sell, both Tor long and
short account, and all that the market would
take After opening at 1870 there WAS an ad-
vance Of 4 per cent, ami after that persist
cut decline, which continued until late in the
afternoon, when the price touched 411sc. and,
in sympathy with the rest OF the market raj
he'd ia the last hour per cent, closing with
4 net loss OF l16 per cent. It is said That the
earnings Tor August Will show even a heavier
decrease than July. President Adams has
been IN the city oil day, and 1t is understood
most Of his time has been spent in conference
with financial men here, the object of which
IS supposed to be TO arrange some important
loans for the company. IL is sald that the
company has been hOrro wing from banks in
cannot be easily traced. The general market
was about steady at the opening, and the hrst
sales were accompanied by an advance of %
Il per cent, but were quickly followed by Il
general selling movement, which continued
until the middle OF the afternoon New Jer
sey Central declined "a, Reading ~, and
LaCkawauna I5s per cent. TIE bearish feel
ing regarding coal properties is increasing, as
the actual CONDITION of the companies be-
comes better known. IL ls already extremely
difficult for the companies to find places for
storing the coal tbAC has been mined, anu
leading coal men ADMIT that unless the con-
sumers and middletnen Gun be induced 10
come forward and take the coal now on hand
the outlook in extremely discOuraging. After
l:80 there was a decided ally, during which
ID some cases earlier losses We're recovered,
and the market finally closed about steady,
aud within small fractions OF last evenings
final figures. eXoept New jersey Central,
which went down ~ per cent, and Beading
"a. Lackaw8nna is y per cent. higher. OF
the roads reporting earnings to-day for Au-
gust, only one shows any gam, ana that J.
Canadian Pacific, the mileage OF which /.
largely increased whilo the old conservative
IhicagO and Alton lost over Sl35, 90. il Ia
said That the policy Of the Western Union VIII
now be general reduction OF rates to ali
competing points until such reduction snail
reach Only l0c per ten words, the object VI
course beng TO cripple the Baltimore ana
OHIO to such an extent as practically 10 an
initiate it, while n would at most only pre-
vent Western Union passing dividends Tor
a time. The market Close at the following
quotations: