The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-08-22

exchange quiet but steady at $i.sih for
sixty day bills and S4.s7I for demand.
Government bonds were duh and firm.
| State bonds were dull and steady.
The stock market today was dull, and
though strong tone prevailed throughout
| the day, the quotations were confined 10 the
smallest fraction, and interest in the trans
actions was monopolized by few leading
| stocks. The temper of the room was still
moderate, but the traders continued TO sell
though they were very cautious in putting
| out further short lines, London was again
| buyer, but the aggregate OF the foreign
purchases was not so great There was con-
| siderable demand for stocks in the early
| trading, but when this was satisfied the mar
kct became very duh, but the buying was
active during the close and there was not
| apparent disposition TO take profits at that
time as usual Of late. The feature Of the
day was the dealings in Lackawan-
ma, which easily led the list in
both activity and strength. The points TO
buy the stock were freely circulated in the
morning and many stories of favorable
nature were circulated in regard to it, The
other coalors were quiet though Jersey Cen
trail was more active than usual, on a rumor
| that the Reading was to have direct control
by the transfer OF Mr.. Corbin's interest, for
which n collateral trust loan would be is
sued ST. Paul was still active and strong,
aud the short interest in the stock continues
! large, n premium being asked for the use of
| IT, A feature Of the dealings was the UNI
usual strength in the Vandcrblts, both
Michigan Central and C., g., G.. a |. selling
| materially higher than the last previous
| sales and though the transactions in them
were very limited they are most prominent
| for the net advances made. Missouri Pacific
was active, but was sluggish all the way out,
| rumOrs Of approaching hOstilities between il
| and the AtchisOn having bad effect upon
| its price. The bears resisted the all
vance step by step but the only really
| weak spot in the list was Illinois Central
which yielded 2 per cent on very light
| transactions. The advances over last even
ing's figures nj the opening were from \ to
| n per cent, which advantage was further
increased In the early trading by fractional
| amounts under the lead Of Lackawanna.
This was succeeded by reaction, which
| brought most Of the list before noon nearly
back 10 the level of first prices, Missouri Pa
CiliC being the most conspicuous In the de-
cline. A hrmcr tone prevailed after noon,
| though except In a few Of the leading stocks
the dizziness was intense. The improvement,
however met with no further set back and
was checked only with the close Of business,
which was quiet but strong at the best prices
of the day Everything except New Eng
land was aided by u revival Of the old story
Of a syndicate 10 advance money TO enable
the company Ia complete all necessary con
| ncctiOus Is higher this evening, and Ccye-
land, Columbus, Cincinnati a indianapolis
rose 2lI Michigan Central ~ Delaware n
Hudson "a, Burlington Il Quincy aud Pa
cilc Mail IA aud others fractional
amounts
The railroad bond market displayed the
usual lack OF feature being duh aud with.
out movement Of importance, the only feat.
urc being the activity IN the Reading issues,
the first incomes contribution $4,000 out
Of a total days business Of $4,000 The
total sales OF stocks today were lGD, liO
shares. Closing quotations: