The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-28
BY TELEGRAPH
Money, Bouas nnd stocks.

NEW lunk Dec. 2s-MOncy on call was
comparatively light, ranging from iISMs
per cent Last loan s. closed offered ut s.
Prime mercantile paper 5dGiS. Sterling cx-
change dull but steady at ~.Sill Tor sixty
day bills aud SlSSi1 for demand.
Government bonds were dull and firm for
a.. State bonds were dull hut firm.
The stock market was declining almost
throughout today aud the result ut the DAYS
trading II Ia leave most NJ the list lower
than last evening with the exception that
losses Ut more than per cent The Wander
hilt directors announce that their policy In
the future would be Ia return "a per
cent basis on New York Central while an
extra dividend ~ l pr cent was declared
on IKE shore, and a dividend un the c., G.,
6. a l., the first in siX years, was de
Clnrcd. This, however, was the only
piece Of news received during the
dny, and II soon became evident that 10
had been fully discounted ns usual, although
ON any other Kind Of q market lis cllCct
might have been pronounced The market
was narrow, aud the dealings for the most
part were confined to the operations of the
professionals, VIII scc-sawcd prices up aud
down tu their HEARTS content iiut ~ that
element Nns chiefly bcag IA, thcgcncrll din
was toward lower figures. There was un
utter lack ~ bull suppuri for The first time
in many days and the increased dcjirncSs of
money told upon the list, rates reaching )
Ter cent and closing M the highest figure.
There was some covering upon the announce
mCnt of the dividends aud again toward the
close, hut the movements were feeble aud u
NO special importance. The coal stocks
showed marked weakness, m did also the
gung' o., In the forenoon, but the special
feature ~ The dealings was cotton oil iu the
unlisted department., which Tell oil rapidly
and tier spn,uodic rally toward noon
yielded again. aud IT, extreme decline
reached . per cent. lnsider. ella ~ that the
stock IL caruiug ~ per cent and that II las
NO debt iui the position of the stock
/ uirun thc market doe, not bear out
their assertion. New England was the only
| stuCk out idr ui the Nundefbilts which dis.
played any strength aud all oi it, gain was
made toward the close. when II became
active London camc lower this morning
aud this market followed suit 10y opening NJ
declines extending Ia = per cent, though
/ Union Pacific WIS 40 exception with q gaiu
/ of =, The dealings were small and indi.
Gated little interest ON the market ani such
n there WIS was confined q u half dozen
shares. cotton oil nearly became prominent
/ for weakness aud dropped about y PEI
! cent, IN the lint hour. while the stocks iu
= tic regular let were held steady until later
/ when the dropping tn lcucy appeared, bul
was checked lur tine by the announce
| mtui ui TIE Nunutfnllt dividend, AttCl
noon, however, this influence Wurc away ant
the cniirr li,t yicldcl with cotton Oh. IN,
| prugc~, cullvr. Union Pacific aud th'
| Could stocks showing decided weakness on
! lnuc increased business Bottom prices Wcr
generally rachcd toWAri O'Clock pm. an,
after that time there was considerable cover
ing ul shorts, put nut early in the day. and
spmc slight improvement was made.
The market however. 'lu'ci fairly active
aud heavy NJ but little better than thc low
ct hrurs Tic active let b. inWrnhl,
lower this evening, AMI X aiding and Oninh.
preferred arr down per cent each. Atchi
-un -, lnrkaulnna and Chicago was each
per cent, nui tie rest fractional amounts
The railroad bond market was very dul
to-day tho silcs IT nl issues aggregate,
only .1,i Uul while thrrc was o. little ami
nation boz low bonds only The iluctua
tiuus wcrr confined to the smallest rnnrr
uui thc final changes in most II the issue
traded iu arv i,r insignificant fractions IN
total sales 1T stocks today wcw 23G. %
shares. Closing quotations.