The morning news., 1890-02-22
MARKETS BY TELEGRAPH.
FINANCIAL.

FINANCIAL.
New YosK. Feb. 81, noon.-stocss opened
active and firm. Money easy at 3GI per
cent. Excnange-lon ?, 81 S2A@4 S219; short,
81 86A@D4 8615. Government bodds neglected.
State bonds dull but steady.
following were the 1on stock quotations:
Chicago Norm. 1os6 TeTmiaal % q. y. ~ ~. ao55
La e 5nore .10lM Western Unon... s!A
500 p. m.-Exchange closed dull but steady at
81 s319 n4 o111. Money easy at 2G1f per cent
Sub-treasury balances-Coin, $l63252, 900; cur
rency, S7,7J9,000 Government bonds dull but
steady; four per cents 1872 four and half
per cent. coupons 1915 State bonds dull and
featureless.
The stock market was more active to-day
than for weeks past, and the increase OF bust
ness was made at the expense OF values, more
OF the active stocks showing material losses as
result of the days trading than on any day
since the present decline began. Several heavy
drives were made against the list, and every
one had the effect of bringing down quotations,
and rallies as a rule were small and feeble. The
teellng at the opening was more hopeful, but
pears soon got TO WORK, and one after another
or the large shares was attacked. all yielding
more or less readily. The principal dependence
or BEARS however, was upon the bank state
ment, the well-known absorption OF money by
the treasury during the past week creating a
confident expectation that the banks must
show material loss of money. These eXpecta-
tions were not disappointed, and the loss TO the
banks exceeded even the anticipations. Early
attacks were made with this influence as the
prime moving cause, and although after the
issue OF the statement there was q halt in the
drop for some time, the pressure was soon
resumed, and still lower figures were reached
in the afternoon. New England, Burlington,
and trusts came in for the bulk OF the pressure
to-day, but in Rock Island there was every evil
dence Of liberal covering Of shorts under cover
Of weakness in the general list. The stock was
less active than usual Of late, but its fluctua
hons were on a much smaller scale AMI IFS
prices was stubbornly maintained throughout
the day. Louisville and Nashville was un-
doubtly sold short against the issue Of new
stock, and its friends were not sanguine Of hold
ing it up In view of the large increase in stock
to come upon the market The strong features
of the market were coal stocks, which were
held firm on comparatively small transactions,
though they yielded slightly to the last drive
on the last hour. Trusts were depres ed, with
the general list In the early portion OF the day,
but met with most pronounced support towards
the close, as did also New England, and the q
stocks closed close up to their opening figures.
Tennessee Coal after a rally from its depres-
sion Of yesterday, made another phenomenal
drop OF per cent, carrying preferred stock
with 1t this time, but as usual portion OF tins
loss was recovered later ia the day. Jersey
Central and the new specially, Edison General
FL ctric, were strong spots in the market, and
both stand apart from the rest OF the list in
showing advances this evening, The ltaal rally
IN the last hour did not last all day out and the
market closed fairly active an1 weak at or
near the lowest prices OF tie day. Trading IA