The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-12-31
MARKETS BY TELEGRAPH.


NEw YORK Dec. 80 noon.-Stocss opened
dull but steady. Money tight at 20 per cent.
Exchange-lonS, 81 79l904 79A; short, "a S3J4
"a S313. Government bonds neglected. State
Following were the noon stock quotations:
Erie. go. -. 2516 Richm d a. w. PIT.
Chicago g. Nortn. HOS Terminal. ....... 9O24
Lake Shore 80. 107 Western Union.., 1924
Norf & ~. pref. 60A
500 p. m.-Exchange quiet and weak at
81 s014 81. Money tight. closing offered at 4
per cent. Sub-treasury balances-Coin, $751;
621, 600; currency-S5, ~. 900 Government bonds
dull bus firm; four per cents 127ss; four and a
half per cent, coupons 10o. State bonds en-
tirely neglected.
Stringency in the local money market was
again the controlling factor in the stock market
to-day, and weakness and Generalization were
the features early, Trough partial recovery
late gave better tone to the market The I'M
usual and unexpected action OF the governors
of the Bank of England this morning, raising
their rate of discount from 5 to per cent when
the regular meeting day is Thursday, and a re-
duction had been expected for some time,
caused considerable Decentralization among
foreign holders of American securities and
while London figures came materially lower
this morning, this was supplemented by liberal
selling for foreign account at the opening of
business here The tightness of money here
was intensified, and rates on call before noon
were raised to 25 per cent, and later touched 40
per cent. before reaction was had. The rate
fell away rapidly to IS, and after all borrowers
were accommodated it fell to per cent. at the
close. Theaction of the treasury in Offering to
prepay January interest without rebate had
more to do with easing up the money rate than
anything else, but further decline in sterling
was also an Influential factor. Selling of
Foreigners at the opening, supplemented by free
short sales by bears and traders, caused a COM
plete decentralization of quotations, and first
prices were 1904 per cent. lower than Satur
days closing figures, Louisville and Nashville
Erie, and New Jersey Central showing the
highest decline. The pressure to sell created
marked activity, and further small fractional
declines were made on large business during
the first hour. The concession in prices brought
out some good buying, however, and some of
the groups of stocks were well supported,
grangers and Gould stocks, with Louisville and
Nashville, being specially conspicuous Resist
ance to the decline, with a cessation of London
selling after that time, notwithstanding steadily
mounting rates for money, prices began to re-
cover after the first rush was over Dizziness
and firmness then became the only features of
the market. Union Pacific furnishing the only
important movement, and the usual stagnation
had settled dowRupon the market before noon.
A slow but steady appreciation took place dur
ing the afternoon, but the movement was en-
tirely Insignificant, and the market finally
closed dull and rather heavy, though generally
at something better than lowest prices. The
list is almosk invariably lower, though declines
are fractional only, not one important loss being
recorded. Trusts were quiet and without feat
ures. Sales of stocks to-day 100000 shares.
The following were the closing quotations:
Ala class a, 2to ) 106 sfash & Chatt'a.. 100
Ala. class B, S.. :. 100 Pa'hc1stmort 80
Georgia rs, noro. .10ek n. \. Central. =. 1914
N.Carolinacohsss.1 y Nor. & W. pref. 59l9
NCaroliLa cols IS Va Nor Pacific. $50. 27M
So. Caro- eBrown . pref. 1914
consols) ........ lO4l9 Pacific Mail. 5000 351e
S.. .iiSs{S ReSmond Ale. 81 rs
Tennessee Sc IS, - "a Richm'd & W. Pit
Virg MIA 6s. -. 80 Terminal. :. :. 2016
Va. Is consoli'tei 81. Rock Island 80. 961a
Ches. & OHIO = st. Paul ...... =. 6SM
Northwestern. i10N :. preferred. .112N
" preferred hi Texas Pacific. 49,. 20A
Della. and. Lac5.. 1855 Tenn. Coal G. Iron. w
Erie ...,s.s 1914 Union Pacific. 80. 67A
East Tennessee. n. ]. Central 1904
Lake Shore. =: ...106X Missouri Pacific e. 69s2
I'ville & Nash ). s4A Western Union. =. S28
Memphis & C1a- "a Cotton OH cerLia. 30A
Mobile & Ohiotg., IL Brunswick. ....... 33A
corros.
LIVERPOOL Dec. 80. noon.--Cotton easy;
American middling 5g16d; sales 1000 be IS:
OF which I 900 bales were for speculation and
export; receipts 1896 bales-American SO, 100
bales
.ltrres-Auerican m Hing ow middling
clause, December delivery 3t.Gi65 33-6fd;
December and January delivery ) 64d55 1854;
January. and February delivery Ji-64G5 30 4di
February and March delivery 3j-644D5 1850;
March and spril delivery 36-640D5 3J.6id; May
and June delivery 3S-e4d: June and July de-
livery 40-646D5 3g-6id; July and August deliv-
cry 41-G4d. Market easy.
The tenders OF d sltveries at to-day's clearfngs
announced TO 400 baes new dockets and II
bales old.