The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-12-16

Duyl0g, par Selltngi Now E0Blduu uemduu,
u disc unit buying; New ENGLAND sight, u
discount; New Orleans,H discount buying,
~ BANK STOCKS.
Bank Of Commerce""........l48 bid, $50 asked
First Nation l...-........"-..l60 bid, l65 asked
German Bank ..."".......1s2 bid, 200 asked
state NATIONAL. DID, lou asked
Union and Planters.....". loo bid, asked
Mercantile Fundamentals bid, asked
INSURANCE STOCKS:
Bluh City....... bid, asked
bid, asked
Home .........."............... q bid, 80 asked
Memphis Clty........ ........,lUl bid, asked
Peoples ...... ...,..........S0 bid, IS asked
Phoenix ..............."....."..lUO6 bid, as ed
Planters Dldi asked
vanderbilt, ........"....,..'..SO blu, oU asked
Arlington 30 bid, as ked
taot0rs....".'........'.. ....,..oO Dld, asked
MISCELLANEOUS.
Shelby County warrants. SO bid, IS asked
n. x Q. r. r. shares."..."...57 bid, =. asked
N. q I. r. r. shares,."....., 45 BID, 81 asked
n. 4 g. eonsols, 7s;...''''' III bid asked
Mis-. x ,. r. r. cs. A......ll 10 bid, Sc. asked
Miss. & 7. r. r. cs B.....".10S bid, lQ6 asked
Tenn. WITS. ser, D.: .........96 bid, $50 asked
Tenn, wits. ser. E to J..........& bid, go asked
Shelby County 6s;.........lOS bid, 10 asked
Taxing District I, 65.",""....lI0 bid, lQl asked
Taxing District 6s;...."......lQ6 bid, lC7 a'ked
Memphis Gas ouds.,.........lC4 bid, asked
Memphis Water bonds.".".llO bid ..; asked
Hanagor VI WorEs.",.'....,:,I6 50 bid ~ Red
Am. Cot. Oil tru ,ts........... 66% bid SO asked
Pioneer Cotton Mills. IN bid, 80 asked
Memphis StOr. Con Co.lSO% bid, 1921 asked
Ms mRhIF Gas stq San3: bid 80 9 asF Eid
Ala & Tenn. l, u C...,........1l5 bid, 1lS asked
Tenn. Valley l. u X. k.....47h bid, 20 asked
NEW YORK, December Is. Money on call
was extremely strong with an active demand
ranging from u pr cent: per annum to q
loan was made at q per cent. and interest,
closing offered at q and interest. Prime
mercantile paper. 4g5. Sterling exchange
1881 for demand
Bonds-Govetnment bonds were dull and
weak. State bonds were dull and steady.
Stocks-Over 100000 shares was the total
business in stocks today, which has never
Exchange, and but SCI dom approached. The
panicky feeling developed in some OF the
low priced shares in the past two days
spread to the more substantial stocks, and
the pressure to sell exceeded anything ever
seen in the board room. The bears began
the attack at the opening, but orders to sell
for bo'h des OF the account were over
whelming, tn only desire seeming to be to.
get out. Demands for more margins re-
manned unanswered, and closing out sales
we're large proportion of the bust
ness done. The attendance at the board
was greater than ever seen before, and
market, The excitement was intense, the
feeling bordering closely upon panic. The
foreign buying aided to check the first de-
cline before the end fthe first hour, but the
which had held up we'll under the first slump
then gave way with rush. Toward the end
o. the session both bulls and bears became
alarmed at the magnitude OF the decline and
buying orders were freely given out, result
ing in a marked recovery over the entire list.
1t was also reported that several influential
operators, who have been credited of late
with desire to zee mater al decline, hRd
begun to buy. These induced free cover
ing of sales which helped the final rally The
money market worked extremely hard, the
rate running up rs high as q point yer day
and interests The New England deal was
one of the chief features, the selling of the
Boston interest being renewed with spirit
this morning, which provoked short sales by
the New York element and The stock broke
very badly. Reading, also, Notwithstanding
broke 10 points. Other heavy declines were
made by Tennessee coal, Philadelphia gas
and Richmond and West Point. Only one
failure was announced on the board,
although rumors of others were thick at one
time. The delivery hour passed with no
further announcement of that nature, and a
much better feeling took posse sion of the
room. The opening was extremely weak,
declines from last evenings figures exceed
ing l per cent for large number OF the
active stocks, whilo Reading was down "a
The transact ms for the first two hours were
enormous. The sales for the first fifteen
minutes appToximated III, 900 shares; for the
first hour $4,000, and up to noon 100000
shares had changed hands Declines in the
first few minutes ranged up to 8 per cent,
Toward the end of the frat hour slight
rally occurred, the CHANGERS, trunk lines
and Union Pacific displaying considerable
strength. The market was feverish and ir-
regular, however, and another slump
sson followed, New England and
Reading leading the decline. The
extreme activity was largely decreaTed
after IL O'clock, accompanied by slight re-
coveries 10 come stocks. The downward
movement, however, was again resumed,
Manhattan a.suming the lead. In the last
hour a general rally took place aud material
advances over the lowest figures we're re-
corded. The market cl, sed active but firm
at the recovery. The sales of the day were
loss ,44 shtes, OF which Reading furnished
1Sl,C65; Lack wana, l02,940; St. Paul, TO-
900; West.rI Union, $685. New England,
$3.50, and very large business in the re-
mainder OF the list. jersey Central is tho
only stock ON he active list showing an ad
vance, its gain tor the day being "a per cent.
New England lost 81, West Point 81, Read.
ing 81, Manhattan and Tennessee Coal and
Iron per cent, each, Omaha ~, Missouri |
Pacific So, Canada Sou ,hern 81, LaokawRn-
ma 50, NJ okinR Valley 81, Pacific Mail 81, |
Michigan Cent al 3, and the others
trOm ! 10 per cent. Railroad bonds
saaas