The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-05
BY TELEGRAPH.
Money. Bond. and stocks.

NEw IoRK, Oct. f-Nioncy on cali easy nj
24GL3 per cent; last loan, "a per cent; last
loan 3 per cent; closed offered at y per
cent Prime mercantile paper iA@7 per
cent. Sterling exchange dull but steady at
Hs3h for sixty day bills and S4.s7h for de-
mnnd.
Government bonds were dull but steady
and firm. State bonds were dull and without
feature
Tho stock market went back 10 dullnoss
again today, the transactions being the
smallest for any full day for over two weeks;
hut the tone Of tho dealings was strong
throughout and almost no set back occurred
the result Of the days trading being 10 leave
nearly the entire list fractionally higher than
last evening. There was some selling by the
foreigners at the opening ON the high rates
for money ON the other side and the advance
In the Bank Of Englands rate Of discount,
but the latter, ~ the result showed, had
| been completely discounted, and no stocks
coming out from domestic sources,
the foreigners became buyers In turn
and aided the advance which had already
begun. There was absolutely no pressure TO
sell stocks, but there was considerable quiet
buying from the outside, aud Influenced by
confident takers the traders who were i'm
Clincd tO he bcarish at first switched over to
the bull side. The outside influences Affect
ing the market were few, but the substance
OF the excitement In the wheat market did
something "a restore confidence, aud the
heavy offerings II bonds % the treasury gave
hope b. the bulls though thoru WIS after
wards some disappointment over the small
number accepted. There was very little
feature In the market but the coal stocks oc-
cupicd more prominent position than for
some time past aud jersey Central became
conspicuous for it, strength. The Gould
stocks also became more conspicuous but
"A Ift,t
special movement In them. The Changers
were quiet aud w were the southern stocks
which showed some weakness with the cx.
ccption uf Norfolk and Western preferred
and the East Tennessee stocks The feature
of the day, however, was cotton seed oil,
which made further advance of about two
points on u large business. There are no new
developments In regard a. the propcrty and
the officials are moro than usually
sccrctiyo. The declines from last evenings
figures at the opening this morning ex.
ten led 10 y per cent, but the market de.
vclopcd n strung tone Immediately, though
the progress made In the upward direction
was slow and never Ia but n few stocks
reached more than per cent There was n
steady diminution la the volume u bust.
ness throughout the dny, though there were
spells Of activity. A slight reaction oc.
CURED In the last hour, but the close was
qutCt and iirm at or near the best prices Of
thc day. The dnal changes, with fcx un.
important exceptions, are In the direction Of
higher prices though the only one Tor more
than fraction was In Jersey Central, which
II up - per cent.
Ia the railroad bond market the Chcsn.
pcakc Ohio issues were again active hut
the rrst Of the list was like the share list
quiet aud dull with little movement and no
feature beyond firm tone, which lasted
throughout the day. The sales iOr the day
Ncrr a. ,3iaOn
Tho total sales u stocks today were 22i,.
1Sj shares Closing quotations.