The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-11-30
MARKETS BY TELEGRAPH.
FINANCIAL

NEw YORK, Nov. 20, noon.-Stocks opened
active and steady. Money easy at per cent.
Exchange-long, "a S04Gp4 s.; short, S4 $50
4 S54. Government bonds neglected. State
bonds dull but steady.
Following were the noon stock quotations:
Erie. ..-.:... -. N4 Richm & W. Pr
Cnicago & North. 1i2Y Terminal; $3.50. 22
Norf. & ~. pref. 594
$500 p. m.-Exehange quiet and steady at
81 Sl1604 Sc. Money tight at 60l5 per cent,
closing at 10 per cent. bid. Sub-treasury bal
ances-Gold, Si5S, 2S5, 900; currency. So, 600.
Government bonds dull but steady; four per
cents l27; four and a half per cent. coupons
1885. State bonds featureless
The STOCK market was active and weak to-day
in all its departments, and material losses from
Wednesdays figures resulted, though the after
noon saw somewhat better condition Of
affairs than the early portion Of the day. The
full effects Of the Lynn fire and the sensation in
the Chicago Gas Trust were not fully over, and
the market was subjected this morning to the
influence OF the disastrous fire IN Boston, and
every one came down with the expectation OF
seeing materially lower figures, Ia which no
one was disappointed AS was natural, there
was considerable pressure TO sell from timid
holders of stocks, but the majority Of the
selling was evidently for short account. The
bears expected that the heavy losses by the in
surance companies would compel selling Of
numerous securities, especially those in which
Boston is most interested, and the result was
seen in the special pressure put upon such
stocks as Atchison, New England, Burlington,
Union Pacific, Denver. Texas and Fort Worth,
and some of the specialties; but the impression
made. especially in the first few minutes was
Insignificant. The chief interest was still in
Chicago Gas, and that stock furnished large
proportion of the dealings up TO noon. The in
fiuence of weakness in Chicago Gas was felt
seriously by Consolidated Gas, whose position
is almost identical with that of Chicago Gas,
and on light dealings this stock ran OIL nearly 3
per cent After the first decline Of the fore
noon rallying tendency appeared, and word
was received from Boston that the estimates of
the damage were not only largely exaggerated,
but that most of the risks were placed with for
eign corporations; and some covering result
ing. the bears were driven TO other expedients
to keep the advantage they then held. The
money scare was renewed, and it was bid up to
10 per cent before the close, precipitating
other selling movement among weaker holders,
and causing a loss of all the Improvement from
the lowest price, which had come after the re-
moval of the pressure Of the forenoon Chicago
Gas dropped still further, and many OF the
stocks in the regular list reached lower figures
than they had seen in the morning. Tennessee
Coal and San Francisco preferred, however,
which had each broken over 4 per cent, held
steady, and the former even made some inn
provement. Many of the specialtieS we're hard
hit Western Union also yielded rapidly ia the
last hour, being found particularly vulnerable.
The market finally closed weak at about the
lowest prices of the day. The list Of declines is
a long one, not one of the active list showing
an advance, and Chicago Gas lost ~, San
francisco preferred ~, Tennesfee Coal ~,
Wisconsin Central. Western Union, and Ontario
and Western 156 per cent. eachf Consolidated
Gas and Transcontinental pei cent. EACH