The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-10-18
MARKETS BY TELEGRAPH.
FINANCIAL


NEW noRE. Oct. II. noon-Stocks dull but
frm- Money tight at 6Is per cent. Exchange
long, : S2G14 S2Ib; short. 81 S6GI4 $50.
Government bOIdS dull but steady. State bonds
dull but steady
Following were the noon stock quotations:
rrie-. -. 2l14 Richm q & ". Pr
Z hcaEo & North 1l2,s Terminal ...... 231s
e,e Shore. 1855 Western Union. s4>s
SIP. m.-Exchange quiet and steady Money
tight at ga per cent. Sub-treasury balances
told, Sl56 5l2, 900; currency. S9,57S000. Gov
eminent bonds dull but steady; four per cents
III; four and a half per cent coupons 1861.
State bonds dull but steady.
Inc stock market was heavy and feverish in
the forenoon, but became positively weak later
and material declines were scored all over the
list Several banks were known to have called
In loans OF per cent. and put the money out at
a higher rate, while, with the vulnerability of
the money market manipulation developed
great indispOsition to buy anything this morn
ing, and although the liquidation was small,th
bears were encouraged and became very ag-
gressive, both the local contingent and Chicago
being conspicuous in helping prices to lower
levels. St. Paul was given special attention
early, and was followed by Burlington, which
yielded more readily, dropping about per
cent, followed by Rock Island and Northwest
ern, all of which reached lower figures, though,
than they have seen for some time The North
ern Pacific meeting showed that the opponents
of the Willard scheme had been routed, and
vigorous attack was made on the preferred
Sh1i0S VI tudI unucr JHo lupI6SSlOu
that the defeated party would attempt to dis
pose of their holdings, and an effort was made
to give selling that complexion. The offerings
were very heavy, and decline from 759s to
117s was the result. The decline in Northern
Pacific preferred dragged down Oregon Trans
continental, and the movement afterward
spread to stocks of the general list, and Lacka-
wanna, Manhattan, Union Pacific, Chesapeake
and Ohio. and other specialties, became promi-
nent in the downward movement. The talk of
making Tampa, Fla, a port from which large
export business was to be done, as the terminus
of the Richmond and West Point system, and
others, made that stock unusually active and
strong at the outset, but it soon quieted down
and sank into oblivion before noon, though the
early rise was lost toward the close. Trusts
were very quiet, and ruled strong almost all the
day, though their fluctuations were still small
and their final changes insignificant The
pressure was continued until the last minute,
and the market closed active and weak at or
near the lowest prices for most of the stocks of
the regular list, and Southern Pacific and Man
haitian, and Northern Pacific preferred lost 3
per cent. each. Oregon Transcontinental 15s,
Rock Island and Chesapeake and Ohio I'd pre-
ferred ia each, Burlington and Lackawanna
15s each, st. Paul IL, Northwestern IA, Union
Pacific "a, Lake Erie and Western preferred 1
per cent, and others generally fractional
amounts. Total sales were 1914, 900 shares. The
following were the closing quotations: