The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-17
BY TELEGRAPH.
,Ioney. Ilon,I. nnd s,oeL..

NFw YoHK. oct lG-Moncy on call easy
nj 2Ctj per cent; last loan 3 per cent,
closed offered nt 3 per cent Prime mcr
camille paper iAW6'a per cent Sterling
exchange quiet aud steady at a. s3 4 for sixty
day bills AMI siSiA for demand.
Government bonds were dull and weak
state bonds were dull aud steady
Tho stock market was somewhat moro act
i've today, aud on the whole showed NOR,
decided strength than has been seen for
many days. Notwithstanding n period uf
weakness in the forenoon. London was
seller aud the bears aud traders hammered
the list especially lackaWlnnn aud Chicago,
burlington Quincy, but there was rccoy-
ering ~ shorts ut the decline, and this gave
the market u. first imnulsc In the upward
direction and morc confident buying iur the
long account followed, a decided strong tone
was developed and material advances all over
the list were established The dealings Tor
the day, however, were still almost entirely
Tor the professionals, the outside public
holding of while many Of the leading spec.
ulators have closed out their lines or are
awaiting developments. The bears attacked
lACknwanna on the theory that the coal
stocks had had rise out ~ proportion To
the rest oi the list mud that, being based on
an unusually favorable condition u the
/ trade which N over nov, they must yield
readily a. any pressure LnCkuWauna, how.
ever, notwithstanding the heavy pressure
| brought against II, recovered fully later IN
the Jay, ~ did burlington 4 Quincy when
the story that u had been depressed only 10
cover shorts was started. The Richmond
terminal stocks wcru the strong features uf
th" forenoon, aud among the spccialtics
Oregon Short line and Orcgon Improvement
were most conspicuous iur strength. 81
| Paul nnl Union Pacific were the features of
the afternoon rise, however the latter being
taken freely by Boston, The opening was
weak, with declines extending 10
y per cent Further losses, evening up
10 y Ter cent. IN the general list, were ~.
tahlishcd, while larkaWanun and burlington
a Quincy wcry specially weak. losing aud
per cent respectively. After the raid was
finished, which was after the half hour was
over tie animation disappeared from the
market, though the list then showed more
| strength and hy noon the early Losses were
] recovered except iu the few stocks men.
4 toned THE rise continued tu make slow
/ bat steady progress with Richmond and
West Point preferred and few spccialtrs
u.s. leaders until the last hour when St laui
/ aud Union fHriiir took the lead aud moved
| up rapidly ON r. lHrrv business The market
| finally closed quiet bat strong nt the best
| prices ui tie day. The hual changes arr
| generally iur fractional amounts with nd
/ ,nuCcs boz 70 majority. but OU,FUu Improve.
mout ia W. 2'sc Richmond and Wvt Point
| preferred Pc. Oregon Short Line tsc aud
/ So Paul prr cent
! The railroad bond market nl,n displayed
I q little more animation, though the increased
I business WIS cutirrly due tu the activity la
I the Reading issues vt which these seconds
/ furnished tlHUI. the thinly si'', ON aud
the iuurS si2i utl uut " dty business
ot sl,'tlun The sales ui the dly ursr'.
gated lNNtH shares. Closing quotations.