The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-04
BY TELEa
Money. Bends ana stocks.

NEw lonK, Oct 3-MOnoy on cali easy at
! 2M3 per cent; last loan, ~ per cent; closed
offered ut ~ per cent Prime mercantile
paper i1IM7 per cent Sterling exchange
| dull but steady at SLSjIlor sixty day bills
and Si.S7i = for demand.
Government bonds were dull and firm.
| State bonds were dull and steady.
| The stock market was less active, but was
| still fcycrsh aud unsettled and the decline
| begun Yesterday made further progress,
| though the losses generally are insignificant.
/ There was marked disposition 20 hold of
until the settlement of the wheat deal and
some of the other questions of the financial
world shall have made the outlook little
clearer today aud the bears seemingly had
! everything In their own hands. But the
! list displayed remarkable rccupomtiyc
power whenever the pressure was lifted, and
b. the unusually firm undCrtUuc the fever.
ish condition Uf the market was In great
measure due. The unca-incss IN the Boston
market caused by the further break la AtCh-
! i,un this morning brought some selling or.
| drrs from that center today, and there was
also liberal batch Of selling orders from
| Chicago, where the wheat deal II now I'M
settling confidence. These affairs cncour.
aged the bear, aud II was reported that sew
cml failures knd occurred In the lost named
place. though the contradiction OF this after.
ward went lar Ia make the afternoon rally.
II was positively asserted aud obtained some
believers that the Bank Of England would
advance IT, rate Of discount tomorrow, which
also had an effect upon values. Tho only
influence for good during the day was the
back down by the Nickel Plate In regard Ia
the advance Ia east bound freight rates and
the appearance IT London IN this market n
q buyer. though the purchase, ~ the latter
were of no great Importance. Fluctuations
wcrv comparatively narrow, most Of the
active stocks being traded in over n range Of
less thrn per cent aud the decided move.
mcnts were very few. The lease Of the East
Tennessee hy the Richmond & Dauyillc still
had n SLIGHT stimulating effect upon
Richmond & West Point, but IL was
only able 60 hold its own. Read.
ing, New England, Union Pacific aud
~ Paul were the active stocks, but with the
exception Of Union Pacific no strength was
shown in any OF them, while 81. Paul
Wa- quite weak IN the forenoon, the selling
being attributed b. Chicago. Hooking Val.
ley was the strong feature and. with Oregon
Improvement advanced sharply on "a very
moderate business The iirt sales this
morning were made at irregular changes
from last evenings prices, though differ
cnccs extended only 10 x per cent. Con.
siderable strength va, shown In the early
trading hut s0on after II o'cloCk the list be.
gan a. show signs VI weakness aud, while
| there was no special weakness anywhere In
the list. everything yielded slowly while the
volume ~ business, which during tho forr-
noon had been moderately lnuso steadily
decreased and IN the last hour had become
/ quite dull Prices declined until toward
| delivery hour when there was a rracting aud
| the remainder 1T the day vns devoted To 70.
coverings portion 81 the losses. The close wa,
but lrth. generally with small fractions be.
low the opening figures. Oregon Improve.
mcnt advanced I y per cent and Hooking
Valley ~ Per cent and n few other stock.
small fractions aud while the declines m,
IN n large majority, they are confined d
small fractions, with the one exception al
Chicago burlington A Quincy, which los
| per cent
The railroad bond market was again mo
| dcntcly active today the sale, " all issuc'
reaching Al, so, 500 out 81 which the Rich
mond 4 West Point Trus, ~ furnished
i2inUhn, the Richmond q Allegheny receipts
Sihi 90 and the West Shore 4 sly1 on
Tho total alcs of stocks today were S07
lll slar,s Closing quotations