The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-14
BY TELEGRAPH.
Monc,. non.l, nna s,och..

Nrw loUK, Nov l3.-MOncY on call c0sy
at to 3 per cent last loan 2 closed at
?. Prime mercantile paper iA06R sicrl-
Ing exchange quiet but steady at SLsils Tor
sixty day bills aud SL7's Tor demand.
Government bonds were duh aud steady.
State bonds were dull but steady 10 firm.
The stock market WIS extremely actiye,cX-
cited weak fcycrish on the first hour, but re-
covered somewhat later In the day while be-
coming quiet ana more settled. The weak
ness cnponlcrrd by the action Of the New
York Central was continued this morning,
but was intensified by heavy sales for Lon
don account which Induced free selling Tor
both sides of the account 10y the domestic
OPERATOR and some stop orders being uncOv-
cred. The decline made rapid progress ~
long rs il lasted, which was for less than an
hour. Orders 10 sell came from all
quarters, and in the stocks most affected
the prices went of with rush, but few
shares were well held throughout and IN
few exceptions closed with a fractional ad-
vance for thc day. The pressure naturally
was most severe upon the Nandcrbits, and
Lake Shore and Michigan Central wcrc
especially weak, while New York Central
aud Canada Southern were comparatively
firm. The extreme decline Ia the first two
stocks reached between and per cent and
although the weakness soon spread 90 the
rest uf the list the losses Ia other stocks
were generally confined to fractional
amounts. Good buying order. were put In
the market aud She decline was checked and
evidence was not wanting that the leading
bears had covered large lines az the low
prices. The Southern and Southwestern
stocks were remarkably firm throughout the
weak spell AMI their fluctuations were quite
small. aud later IN the day New England be.
came the strong feature Of the day, being
IHl.u lr.stts ht IlNafAu ttVYanFnuaIN a
count OF tlio approaching election, aud it,
highest figure was reached toward the close.
London also became buNCr later and
this served 10 renew the courage of the
bulls, who took hold with more vim and
re- luccd the losses materially In the last
hour. The Northern Pacific group we're
prominent AZ that time Tor the strength Ills.
played also and the entire list followed iu
behind. The opening was intensely excited
and ON an unusually heavy business first
sales were made at declines from last cyon-
ing's figures extending 10 I per cent In Lake
Shore and Missouri Pacific. The market
was extremely icycrish and weak and under
the lead OF the Nundcrhlis, and per cent
was soon knocked oil the prices OF Lake
shore aud Michigan Central, while the other
trunk liucs followed There was some let-up
"a the decline toward the end 81 the hour
but the weakness again appeared although
NlWNANN WIS AANiil NhhNANN NlAM NlAN ANMfhA
prices were generally reached before noon.
The list then presented very little feature
and the volume Of business showed
steady decrease, the market toward
o'clock becoming quite duh, but prices
also gradually crcpt upward while
few stocks, such NJ Tennessee Coal, New
England, Northern Pacific aud Recalling dis.
played marked strength. New England be.
came pronounced feature IN the last hour
aud moved up rapidly, with the general list
following. and the market uiufCl quiet hut
firm generally NJ small fractions decline
from opening prices A few stocks show al.
yanccs ~ small fractions but the rest oi
the list arr materially lower, aud Michigan
Central Is down ~. lake Shore ~. AtUhi.
sOn y and Erie per cent.
The railroad bond market presented no
fcaturc Of Interest, but remained quiet aud
generally steady throughout the entire day,
falling to sympaihisc in any way with the
excitement IN the share list. The total sales
reached only 81, inCO0, aud there was no
animation visible anywhere In the list The
final figures show Irregular changes generally
for small fractions, though there were q
few important movements hut NO decided
tendency la either direction. The total
salrs oi stocks today wcrc $4,000 shares.
Closing quotations