The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-19
BY TELEGRAPH.



Nrw YoRK, Sept IS Money on call easy
Mt ~ per cent, last loan at 2Gt2ls per cent,
prime mercantile paper 5hM1A per cent.
Sterling exchange quiet but steady at - $40
for sixty day bills and sassy for demand.
Government bonds were duh but firm.
State bonds were entirely neglected.
The stock market today was somewhat
less active, but the business done was more
evenly and widely distributed, showing n
decided broadening tendency for the time
being, aside from the unusual strength dis
played over the entire list. The market adj
yanccd with but slight sctbncks almost from
the opening Ia the close, and the final prices
show material gains throughout the list
The temper uf the room was more bullish
than IL has been for some time nt least since
the action of the - Paul directors, and the
bears were timid and ran on their shorts ut u
lively rate, giving the market at one time a
decidedly huuyant tone. The principal
cause of this change of front was the
absolute refusal Of the foreigners to
scare into selling their stocks the orders
10 buy from the other side this morning be-
ing IN excess Of anything seen Of late Their
purchases extended over "A wide range aud
st. Paul was taken very freely, which had a
marked influence In restoring confidence in
the rest uf the list There were other causes
acting Ia that end, however, such ns the al.
vance In rates ON She trunk lines for certain
goods the improved earnings on the st.
Paul aud the bullsh uttcmuccs Of gentlemen
closely identified with Mr. Gould. The lat
ter had marked effect upon the Gould
stocks aud Missouri Pacific especially. which
was unduly depressed by the reported issue
OF new stocks, became n feature of the day.
The most marked movement In the list,
however, was In New England, In which
the upward movement which was begun
sometime ago, was resumed, accompanied
10y great activity. The deal Is still a mys-
terry ~ the insiders do not acknowledge any
participation In the affair whatever. The
buying nftcrward extended a. other
stocks and Lake Shore aud Northwestern
were specially prominent, the short inter
est In the latter having been large and the
stock now commands premium for
use, lackawunna again commanded at
tcnuln Wy reason uf sudden rise,
almost nj OF which. however, was
ailrrward lost. The other conlcrs were
active and fairly strong. The opening H.
urcs were FROM =. Ia q. per cent. higher this
morning, while Missouri Pacific was cxccp.
tionnl with n gain uf o.. per cent Some
little reaction occurred Ia tlVcnrly dealings,
but the market soon recovered. aud every.
thing moved up, with 81 Paul, Wheeling n
Lake Erie aud Union Pacific In the lead An
attack upon Northwestern brought the list
once more below first prices. hut after noon
New England came Ia the front, aud the
extraordinary strength displayed hy the
stock stimulated the entire list, and followed
by Missouri Pacific aud cotton oil, brought
prices ~ their highest points Of the dny
generally at about ~ O'Clock PIN. Free
rchlizntions after that time salu,ui the list OIL
while laCkuwanna became quite weak, los.
ing nearly all ot IT, former advance. The
tone IT the market again improved To.
ward the close, however, and the
list was quiet but firm az or near
the best figures NJ thc close The
tnal change. show advances In everything
without exception aud 81 Paul preferred
rJsc . per Ccnt., the common ~ New Eng.
land like amount Manhattan 1 =, Missouri
Pacific a., Northwestern ~. burlington &
Quincy Hooking Valley Lake Erie 4 West.
eau preferred Northern Pacific preferred
hni Western Union per ccut each, aud the
rcst fractional amounts.
The interest In the dealings In railroad
bonds was still second a. thr share list, aud
while the market wa little more animated
thcrc was n lack of fcaturr aud no decided
tone 10 the Transactions The market con.
tinucd irregular In IT, movements through.
out the entire dny. aud the final changes.
which are generally for fractions, are about
equally divided. The snlcs were a. il5,Oun
The total sales NJ stock today were $50. $50
shares. Closing quotations