The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-13

change, dull but steady, at 81. s0s< for sixty
day bills and $i.sSA for demand.
The stock market was again very active to-
day with feyerish and weak tone in the
forenoon, but which was succeeded bya rally
| later In the day which brought prices up to
and in most cases above last nights figures.
The grangers and Gould stocks were once
more the center OF attraction and in both
there were wide and violent fluctuations,
| aud while outside Of the two groups there
was very little interest In the market. The
market opened very active aud decidedly
weak, not to say demoraized, London and
the traders selling while the only support
seemed 10 come from the covering operations
Of few professionals. First prices were
from H6gh per cent lower than last even
ing's figures in the general list while Man
haitian opened down over points with much
| excitement A great feature, however, was
| the heavy demand In the loan crowd, which
was said 10 be the largest for years, all the
| active stocks loaning Hat and one or two at a
premium. The decline in Manhattan was on
the expected reduction in the dividend.
which was nftcrwnrd officially announced,
and the stock led the decline in the market,
losing 81 per cent. further before the bot
tom was reached. The general list
was active aud very foycrish, though
outside Of the leading weak stock
prices were fairly well maintained, but beside
Manhattan, Missouri Pacific, st. Paul pre-
ferred and Manitoba were oonspicuously
weak. The losses In the general list were
confined 10 fractions, and toward noon o
material reaction occurred though this was
followed by q renewal Of the decline in the
early portion Of the afternoon. This, how
ever, was Of little moment, and after
o'clock pm, good buying was noticed all
along the line and one house Is said Ia have
bought 1909 shares, which served Ia turn
the tide, aud before o'clock prices WERE In
most cases, above those of the opening.
The hest figures were generally reached
about delivery hour, when the market be-
came very dull once more, though IL re-
manned firm throughout the close, being
firm ut or near the best prices OF the day
The covering Of shorts was very heavy in the
afternoon, and many prominent bears are
said 10 have changed front, and gone long Of
the market at the low prices Of the forenoon.
The amount of business done was larger than
ON any day for n long time. The final
changes are s,mcwhnt Irregular, but al
yanccs are In the majority, though for the
most part for fractions only. Western
Union and Rock Island however. rose / per
cent. each while Manhattan lost a.,
Government bonds were dull and steady.
state bonds were neglected.
The railroad bond market was quiet 10
duh aud IL sympathizcd closely with the
share list, leaving prices irrcgularly changed.
The sales were II ,lsi,O 900, and 10 that amount
Wabash, Chicago division transfer receipts
contributed $4,000, aud Burlington Ne
braska Is $4,000; - Paul, |. 4 N. Is lost
at no Chicago aud Indiana coal rs Ia Ds;
Milwaukee, Lake Shore and Western Ash
land Us Eat H. and Green bay incomes y at
80.
Tho total sales of stocks today were
33s,sf shares, including Cauadn South.
crn, 5,iOO; Delaware, Lackawanna &
Western 300, Eric. li.I2O. Lake
Shore, lL75; Louisville q Nashville.
G,iD1, Manhattan consolidated, 1885; Mis-
tour Pacific, ll,Glj; Northwestern. 1890;
Northern Pacific preferred, l,Go. Reading,
Dsl3O, Richmond q West Point 1900. 81
Paul, 5I,3i; Union Pacific, 2O,OlO Western
Union, 1880 Closing quotations: