The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-12
BY TELEGRAPH.
Money, Bond- aud stocks.

Nrw York, Sept. ll.-Monoy on call easy
ut tisM2 per cent Prime mercantile paper
5mGB per cent Sterling exchange quiet
but steady at $LS4A for sixty day bills and
Sass for demand.
Government bonds dull and steady. State
bonds duh and without feature.
The stock market was not only more act
i've through both on covering shorts and re-
ucW,d buying for the long account, which
came from the foreigners rs well a7 domestic
sources. The raid IT last evening was not
continued this morning, but instead there
was an unusual anxiety to cover shorts IN
the carly trad ug, and this gave the market
at time, a buOyunt tone. When this move
mont was satisfied there came q more urgent
demand from new buyers and the upward
movement prices was not sufficient 10 lag a
time. A feeling ON st. Paul seemed 10 have
undergone q change Tor the better and there
was nothing heard of passing the dividend
nor were there any sellers, but operators
instead report that the dividend would bc
( or " per cent. were freely circulated
aud Mr. Armour was even said 10 be pre-.
pared tu furnish the money Tor the regular
~ per cent dividend The news Of the day
WIS almost entirely bullish and very favor.
able reports at the business by trunk lines
found publication. This was accompanied
by very decided movement In the Wander
| bilts. aud Lake Shore In particular became
| prominent for both activity and strength,
| some round amounts Ut the stock changing
| hands The Gould stocks were largely traded
in aud were helped by the statement issued
IT the business of the Manhattan, though
when the dividend was found 10 be- I'm.
changed there was some disappointment and
the stocks sold oil somewhat from best
prices. There was more attention paid "a
several spcc.aitics than usual uf late and
many oi them made marked advances,
among which Pullman, Hooking Valley
Tennessee Coal and Memphis & Charleston
were mo & conspicuous. London had some
selling orders in the market at the opening
but they had no effect upon the list
and that interest became buyer later In
the day Toward the afternoon there were
free rpnlIgations which siggcl the list Oh
from the best prices, but the movement was
OF comparatively short duration, aud the
tone Oi the market again became strong In
the final trading. first prices we're from
q. 10 = per cent above last evening figures,
aud without hesitation the market moved
up rapidly on u largely Increasing bushes.
until near noon, when prices went from =.
a. ~ per cent above those of the opening
Pullman, however, rusc 5 per cent TIL,
best pricfs were reached about 1 O'Clock
D. M, after which everything rcccdcd from
tile highest figures and the market became
dull. The lost hour, however saw renewal
Of the buying, and ON q largely increased
trading prices again moved up, and the close
was fairly active aud strong at small frnc.
ton. under the best prices. The active list,
without exception, h higher this evening,
aud Pullman rose > per cent, New England
~, Hooking Valley ~, Lake shore - st.
Paul y Chicago aud ST. Louis a rittsburg
preferred ~. pr cent each, canada South.
crn Per cent, aud Others tmctiunally.
The railroad bond market was mOrr activ,
toiny with a much more evenly distributed
business. although Fort Worth & Denver
ir,t. contributed t2i2,uJo, Reading dr,t pre-
fCrcd incomes. t2il,uJl, aud the Wcsl
Shores, tipi Ga. out II the total days bust
nc,s of ii,.o2upp The total sales Of stock
tolny were 2'i,s2j shares. Closing quota
lions