The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-03-11
MARKETS BY TELEGRAPH.


FINANCIAL.
NEW YORK. March 10, noon.-Stocks opened
active and firm. Money easy at sac per cent
Exchange-long, 81 S204 S214; short, 81 Si1s
4 S5M. Government bonds neglected. State
bonds dull but steady.
Following were the noon stock quotations:
Chicago North. 1913 Terminal q ". aoM
LAKE Shore. .....1041S Western Unon... 81
MORT G W. pref. -
BOOB. m.-Exchange closed quiet and steady
at 81 S3604 S616 Money easy at 405 per
cent Sub-treasury balances-Coin, S169, 1923, 900;
currency, 81, 207, OO0.y Government bonds closed
dull out steady; four per cents l22 !; four and
a half per cent coupons 1881. State bonds dull
There was little of the stock market to-day
outside of dealings in Reading, though few
stocks in sympathy with that stock showed
marked strength at times. The fear of the con-
sequences OF the completion of the deal, how
ever, kept the general list in feverish and
generally unsettled condition throughout the
day, and the raid by bears in the last hour upon
the easing off of the pressure upon shorts in
Reading resulted in wipng out most of the
early gains in the rest of the list Shorts in
Reading this morning found themselves IN a
tight place, and not since the Oregon TranScon-
tinental corner, which, in the opinion OF some
the present move resembles, has there been
such heavy tran actions in any one stock nor so
wide an interest taken IN any deal During the
forenoon. at least, the corner in Reading alb
sorbed the entire attention of the street. and
out of a total of III 900 shares of listed stocks
UraQ6u IN, over lSi ,UUO were III IeduiLS duu IOE
the first half hour over $4,000 shares of that
stock were dealt in. For the day it furnished
256 40 shares out of 379 $685. or about two-thirds
of the entire business in listed stocks. This
record for one stock is certainly eclipsed. By
this the loss of the bears had been very heavy,
and the combination bulling Reading being a
very strong one and one likely to stay, though
the bears claim that short interest has been en-
trely eliminated by the operations of the day.
This claim was given some color by the rapid
decline in the last hour, but it had the appear
ance of a bear raid more than anything else
large crowd gathered in the stock room before
the opening and every one was bidding with 10
stock apparently for sale. The price rose from
80 q to Az when the bidding for cash lots began,
and while sales the regular way were made as
high as 4l3l cash sales were run up to 4234, and
the difference at times was even larger than
urgent up to noon, after which there was less
demand for it until z o'clock, but in the last
hour very little of the stock was sold that way
| This squeezing give evidence OF how largely
the market has been oversold, and in Lac1a-
wanna and Atchson to-day there were minia-
| ture squeezes, and it is believed that similar
movement in all the active stocks would cause
| q corresponding amount of distress among
| bears in other stocks. Beyond the movements
| in the stocks mentioned there was little in to-
day s market. and dullness and stagnaton, with
| feverish tone, marked the trading. Sugar
| Refineries was the exception, however, ana
| while it ran off at first, a material advance FOL
| lowed most of which was retained at the close.
Among the low-priced shares Louisville, New
| Albany and Chicago was conspicuous Tor one Oh
| it's sharp advances, and Union Paclhc ana Ten
| nesSee Coal were especially weak The follow
N,,a Inufrar rfYTrnfa at