The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-01-03
BY TELEGRAPH.


NEw YoRK. Jan. Money on call was
tight ranging from Ia per cent; last
loan per cent; closed offered ht 2 per cent.
Prime mercantile paper 5d64 per cent.
Sterling exchange dull hut steady ~ si.sI'i
for sixty day bills'and slsh4 for demand.
Government bonds were dull but heavy
for the a. State bonds were dull and firm.
The stock market q the opening Of the
new year WIS something of q disappointment
a. the advocates of higher figures, as the
day, except for snort time In the early
morning, was given up to the bears, although
the impression made upon values, except In
few special instances, was not 81 special
importance. The rise Of ia, last part 81
Monday was continued IN the early Trading
with the quite conspicuous buyers aud the
temper Ut the ruum was generally bullish.
though the traders who wcrr doing the most
81 the husinUss were taking profits.
The luving soon became scattered
aud the bears came to the front
again ~ circumstances were for the moment
greatly In their favor. Money was working
very closely rates being held nt u per cent.
all the forenoon aud later moved up a. per
cent. the limit uf late. rumnr from
Chicago ~ hitch Ia the carrying out uf the
agreement amoug the granger roads and
ilpsion, sent % story ~ q probable passing
uf the next dividend on Aichison With the
report ui the earnings Tor November. which
showed q less ui nearly s2UnWD. and al
though this was sibiup better than had
| been expected, the effect upon the value Of
the stock was very marked II dropped .
Der cent anil pressure WIS brought aIainst
the other granger. Rock Island. Burlington
and st. Paul. each yielding over point
Soue effort to make u app.at that Nr Gould
was not Ia symlathy with an advance ut
present and VI ,.uun Pacific was forced oil
materially. outside ~ the shares men
toned. however the losses were confined
a. fractions only and good buying
appeared ai the low range ~ quotations
Which latter rallied the iist. aud the coal
stuyks became especially prominent for
strength, Jersey Central In particular lead.
ing the upward movement. With w,in ui
over I y points. kondiur and lncklWannn
were not M strongly Affected 10y the bulli,h
reports ON the collcr but the former was
helped hy the rise in the bonds. which wcrr
higher on rumor. from Philadelphia uf pay.
mcnis on the iirst and sccutd incomes Hut
| the points we're circulated freely upon New
| England. aud that stock was one II the most
active On the list, but H. range NJ prices
was not marked, aud II finally closed nj
insignificant change from H. Mondays tx.
urc-. The opening figures were from Ia
=, per cent above Mondays prices, with
Missouri Pacific Nv the lead. hut there was
very little vim Ia the subsequent trading
aud. with the exceptions Of New England
| aud lncknwanna no strength appeared
Atchison soon came to the trout, being very
weak, ard the rcst of the list stoutly fol
lowed yielding gradually until toward |
o'clo,k pm. Rock Island. burlington. 81
| Paul aud Missouri Pacific. however. In turn
became prominently weak and all retired a
material amount bcfotc the rally set H.
Jersey Ccntml spmng into activity and
rapidly advanced ~ per cent, bringing
/ the nrst ~ tho lit with w. although
In none vcr the early LOSSES entirely re-.
covered. Atchison moved up point, but
the recovery was aitcrwari again lost The
/ upward movement was not II long dumtinn
and IN the last hour the market again be-.
came quiet finally CLOSING dull aud steady.
/ generally nt fractional losses Tor the day
Jersey Ccntu,l shows az advance II ~ per
/ cent hut Atchisuu h. down ~. Burlington
! -, Huck Island I. aui Missouri Pacific l y
THE special f,atup ~ the dealings IN rail.
| road bonds today was lhc activity and
strength IN the Reading incomes and a. and
the last named bond, contributed $50 .Op.
the int income. siG2 60 and the second in.
comes sit,unI. cut II total days bushes.
of ~, hhi,U1 The total sllcs 81 stocks to.
day wcV ~ ipi shnrcs Closing quotations.