The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-03-11
By TELEGRAPH.
MoncY. nontl. and siacI.

NV YoRK, March O.-Moncy on call
dul and easy. with no loans closed offered
az --. Prime mercantile paper. Ial@JiE
per cent Sterling exchange duh but steady
at Assn for sixty-day bills aud S-LSsA for
demand. q"
Government bonds have been dull and
steady. state bonds have been entirely
neglected.
The stock market was m IRE active today
than during the same hours " any previous
day this year. aud was decidedly weak Ia oil
IT, departments. the result Of the trading
being material loses In quotations all over
the list There was q timid feeling at the
opening this morning. aud the selling by
Chicago and the lucal operations were very
marked, price, on the hrt sales being from
y ~ .. per cent, lower than last evenings
quotations all around while Omaha COM
mon was exceptional with a drop Of Z per
cent There was evidently no effort 10
support prices, aud the decline was rapid
when the news Of panic In Paris oamo In
Ia help prices down, and the selling became
more general throughout The coalcrs,
gmngcn aud Union Pacific. were especially
active aud felt the full force Of the pressure,
and among the spccaltics Tennessee Coal
received most attention. aud lost large pro-
portion OF ~ late gains. The traders put
out a great mnnNsiocks, encouraged by The
bad adYicca from The other side, but nj the
low figures good buying came VA, aud by II
| o'clock the decline had met with a check
and the market Tor the time being became
comparatively dull, while slight improve
mcnt was shown In quotations The Oregon
stocks we're conspicuously weak la the int
drive. aud short Line dropped nearly 2
points. white the Others wcre held up bet.
ter Toward noon the bank statement was
issued aud showed n loss oi over 5000 900
in the surplus reserve, aud a rumor that
| S3uutuJo had been shipped West brought
un q renewal uf the selling movement and
prices again rapidly dropped reaching still
lower figure than had been seen during the
iiri hour The rumOrs also stated that large
amount Of gold had been taken Tor shipment
10 Europe, but inquiry developed the fact
that none had been 10 taken but that thcr,
wa unusually heavy inquiry ior cable Trans
fer. presumably to aid correspondents ~
the other side ln trouble. No improvement
was seen IN the list aud the market linnll,
closed active and weak at the lowest price,
oi ihc day. The entire active list Is lower
aud Louisville a Nashville lost iA Union
Pacific 1 =, ~ Paul l. Reading aud Oregon
Navigation 80 each, Cleveland. Columbus
Cincinnati A indianapolis. Colorado Coal
lackaWanna, Manhattan aud Tennessee Goa
each per cent, aud the Others fraotona
amounts.
Railroad bonds failed to respond TO IN,
activity aud weakness existing Ia shares an,
were dull the sales of nll issues argrrratinl
only fii0V1, aud while weak tone pre-
vailed ior sumo time prices were well hcl,
throughout and some marked advances wen
established Ia few issues. No special Tea
tun marked the trading Among thua
which arv higher this evening. Long Islam,
, lsts ru-c ~ to i224. Mexican National let
. loot - at leo. The sales Of bonds Tor ~,
week were ~, 2s0UOu, against g. ist, 900 lo
last week.
Tho total sales ~ stocks today were 2i3.
tO2 shares. Closing quotations