The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-13
BY TELEGRAPH.


NrW YoRK. July i2-Monry on call casy
nj lGi q, per cent. Prime mercantile paper.
3H5is per cent sterling exchange dull but
steady at 49, Tot sixty day bills aud isSls
for demand,
Tho stock market was less active today,
aud besides displaying les, vim than during
the past few dnys early developed n reaction
airy tendency, aud while the dealings were
frycrish aud unsettled throughout the day
the result " the days operations u a. leave
the great majority ~ the list fractiunnlly
lower than lat evening There was good
buying on the part oi suns IT the commits
sion houses aud late In the day more pur.
chasing Tor foreign account, hut the pruiCs-
sionals who had bought with the intention
of loading upon London we're compelled 10
dump their load In this market, aud there
being altogether less demand Tor stocks the
traders began To hammer the list for r,ac.
ton. All tile news Ut the day was Of favor.
able character. aud some new developments
served ~ keep the downward movement IN
check Western Union was bought still
under the belief that the sCttlcnct of the
cable difficulty j. but matter of
few days. aud while Chicago sent
few bcafish trlcfnms there Wa buying ~
the western spCrialtirs. aud - Haul was enc
" the features. burlington & Quincy spurtrd
up ~ per cent. ON the announcement II the
resignation " General Manager Stone which
was interpreted by the street a. mean also a
chang, in the aggressive policy oi the com.
phuy. aud though the story was aitcrwar,l
nuthuritnti,cly denied. most IT the improve.
mcnt was Uinitcd. Lake Eric 4 Western.
| indianapolis, Bloomington 4 Western aud &
| e. e. 81 wCrv all sirungun the statement thas
| important negotiations arr being conducted
| looking io the Strengthening ont " the rrla.
| lions ui those runds. which will include also
/ nu agreement torrsiurr rates, and each made
/ Important advances during the day. The
| conspicuous weak spots were Manhattan,
| Houston a rcsns aud Michigan Genital, bat
/ in none ~ the general let was there any
/ marked decline, except iu Missouri Pacific,
| which continued IA sar steadily throughou
| the day, and closed With loss Of ~ per
cent slhc hri sales were made generally al
/ concessions frm last evenings figures from
/ - a. = Ter cent aud further slight losses
were sustained Ia the early Trading. Thi,
was succeeded by reaction IN which West
srn lnion and s. Paul were the features IN
| the general list aud Hooking Valley among
thC spccialitios, the latter being ihyorahly
affected by the probability ~ q settlement vi
| fuit against Judge nufkc The heavy ton,
was resumed after this spuri, however, and
| Missouri rsCihy lcd the decline The actiyi
~ showed a marked falling OF from the ccs
sntiOn IT the early demand aud 81 Paul AMI
Richmond a West Point after ~ o'Cloch
continued a. decrease until the close tn,
activity IN the stocks mentioned was accom-
panied by an upward turn IN sympathy will
the movement IN Burlington, but IL was o
short duration aud the decline was renewed
Very little features marked the subscqucn
trading and the market finally closed dul
and heavy ~ fractional Losses Tor the day.
The railroad bond market was Ia
lcss active today, the sales reaching 81 U1s.
On. aud the Texas Pacific seconds again lc,
the list IN point Of activity, coniributin
ilU ,oa followed by Fort Worth n ncnyc
tirsis with aiH3.OD1
The total sales Of stocks today wCv 2O1
~ shares, Closing quotations