Savannah morning news. [volume] (Savannah) 1868-1887, 1886-12-15
MARKETS BY TELGGRAeH.



NEW YORK. Dec. IA, noon.-Stocks active
and firm. Money actlve at 7(08 per cent. Elk
change-long. 81 S0I4(94 80%; short, 81 $500
1887. State bonds dull but steady. Govern
ment bonds dull but firm.
Scoop. m.-EXchange, 81 S0M94 500. Money
active at 6(125 per cent; last Oan at 20. SUB
Treasury Daances-Gold, 1926, 504, 900: cur
renew, S2l, OBI ,0C0. Government bonds dull
but steady; four per cents. 123; three per
cents. l0O3S BID. State honda Qull but steady.
The stock market gave promise OF some I'M
provement in the early hours, but WAS fever
ish and unsettled to large extent, although
quotations advanced. The later bidding up
of money to an extremely high rate offered
another oppor unity to the bears to vigorously
raid prices, and decided slump bordering on
to pan c was the effect in the last hour. the
unsettled condition of New England kept the
market feverish and irregular. when it other
wi e would have been firm to strong. South
ern specialties. by their enormous declines,
coupled with the selling OF New England.
were the principal features oil the afternoons
trading. The favorable factors in the situa-
ton were steady buying for foreign account,
which was specially noticeable IN the lore
noon, and further drop In the rates Tor sterl-
ing exchange. All such influences, however,
counted for naught In the rush to sell in the
afternoon. In the morning there was some
improvement in New Jersey Central on the
announcement that Baltimore ana ONO was
now using the road under contract, and stocks
bought by foreign people were prominently
strong, including Reading, Erie. and Louis
vile and Nashville. a Boston party threw
New England upon the market in large
amounts when it became apparent that the
control would pass into the hands of the New
York party. At the same time advantage
was taken of the absence of the principal
supporters oil the stock by the bears ana room
to hammer IL vigorously, resulting 10 break
OF over per cent. The opening was active
and strong, although there wac an absence OF
the usual result at that time of day. The ad-
vances over last evenings final figures ranged
from "a to "a per cent, though Few stocks
showed slight declines. After some slgnt
hesita alton an advance occurred co oring part
of the first hour. New England broke badly,
however and in many cases under It's In
nuence cary gains were lost. toward noon
the upward movement was resumed. and at
that time fractional advances were general
throughout. the list. In the afternoon, how
ever a general decline took place, >ouLhern
stocks lead ng, which was checked before z D.
m. A fractional rally was followed by re-
newed weakness. and In the last hour the de-
cline became semi panic. About one-thlrd OF
the entire days business was transacted IN
the last forty-flYe minutes, ana the Market
closed very active and weak at the lowest
prices of the dav. The total sales OF STOCKS
were $40 900 shares. The closing prices again
show material declines throughout, and Chat-
tanooRa leads with decline OF ga per cent,
Tennessee coal %. New England GA, Norlolk
and Western preferred ~, Louisville ana
Nashville "a, West Point "a, Canada south
ern 2}k, Lackawanna 21S Reading2 per cent.
and others for smaller amounts. The folloW-
ing are the closing quotations: