The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-13
STOCKS A PEG HIGHER.
MATERIALLY BETTER FEELING
ON ALL SIDES.

Tho Action of the Gearing House
committee in Coming to the Rescue
- the Banks and a Better Feeling
in London the Cause of the Rise
Here-Some of the Big Jumps.
NV YORK, Nov. 12, IL Mooney is
+iqbt at K per cent. per day and interest.
TIE stock market developed new strength
ss+or II o'clock. and, while money was
leaning at 4 per cent. and interest, prices
.,se materially. and everything traded in
,sacbed the highest prices of the morning,
,baextreme feverishness Of the first hour still
continued. but better tone was noticed
al over the list. Another advance in the
latter norton of the hour sent North Amer
team to 2OK, Northern Pacific to 81, and
,,-afsrred to 62, although these prices
prore not held long. Trusts were compara-
,;valv nuiet and sugar up 21S. AT noon
tba market was active and strong, generally
st the best prices of the morning. The
London market closed steady at irreg
Mar but slight changes from yesterdays.
RANKS 7rAND SHOULDER TO SHOULDER.
President F. D. Tappen of the Gallatin
National Bank, a member of the New York
Clearing House committee. said to
m ASSOCldi6Q LCoo AOPOlUSI db
II O'Clock this morning: 'Our
committee is now in session signing certifl-
Gates for banks which require them, but The
indications are that the issue will
be very small, say probably
MOI more than S5,O00,0O0, which, when
compared with the issue of SS7 ,000, 900 in
1884 is. you can see, mere trifie. There
isuothing in the situation, so far as the as
sociated banks are concerned, that is at all
10 &h.. ellie
reason to anticipate any disturbance in
finance in this center. Our action of yester-
day in deciding to issue clearing house cer-
tifcates was merely precautionary, SO that
| fa crisis should come we would be pre-
pared for it. We did not anticipate any
such disaster, but believed it to be the part
| of wisdom to forestall rather than to have
to meot it. We are entirely satisfied that
the situation will improve"
THE LONDON MARKET.
The London market to-day was quieter.
American securities were lower, and others
slightly weaker There are rumors Of fail
ureS
In view of the fact that London is regard
ed as the main factor of the situation, it
may be important to know that bullion is
being shipped from many financial centers
10 that point Half million silver bars 90
forward to-day on the steamship Scale, and
cable advices state that Russia has sent
100000 francs IN gold and will send 2,000,-
G0 francs additional.
THE NORTH AMERICAN RAILROAD.
The stockholders of the North American
HlrOad met in the Mills building to-day,
and the statement is authorized that the
Company has but few creditors, that these
sre strong financially, aud have agreed to
see the company through, and that the
assets of the company are wholly intact.
The sterling exchange market is very dull
and prices nominal. Bankers show little
disposition to do business, owing to the
high rates for money. The Bank of North
America was a creditor at the clearing
house to-day, and the officials state they are
again in good shape.
At12:3O o'clock the suspension of F. c.
Walcott & Co. was announced on the ex-
change.
THE DELIVERY HOUR PASSED.
NEw YORK, Nov. 10, 2:30 p M.-The
critical period of the day on the exchange
the delivery hour-passed without the an
nouncement of any additional failures, and
the financial horizon is decidedly clearer.
NEW YORK, Nov. IL, 3 P. M.-Mnney on
eau has been stringent, ranging from 3 to
per cent, with the last loan at per
cent
Inc stock market in the last hour was
marked by increased animation with the
usual sharp fluctuations and a general ris-
ing tendency, although only in Louisville,
Which touched 7539, and sugar, which rose
10 %, were there any material
advances. Later however, the grangers be-
came feature and Rock Island touched
~ and st Paul 495S. The market closed
sctiVe and strong at about the best prices of
W-daY. One small failure was announced
Iate That of Benjamin J. k True, q stock
Oro~er, out little notice was taken Of it.
REVIEW OF THE DAY.
NEW YORK, Nov. IL, Z p. M.-The stock
market to-day showed a materially better
9-ng' ooth ln the street and outside, and
mere was most gratifying confidence dis
Eiayed that not only was the worst now
User, put that the improvement would be
galck and sharp. The action of the clear
.s mouse committee in coming to the relief
~ " tne Danks IN the difficulty was the means
~ ~ esOoflhg the confidence of many. while
.ue improvement in the situation abroad
aS s Glso powerful factor to that
u,A u1 1NoG NoG only we're the active stocks
aon inigher all day long. but the inactive
peo1aiIies which yesterday could not find
payersat any price, to-day we're taken at
"rSS 'i9raiIy advancing figures, and the heavy
bnad6p iu ,I 'noSe @ shares was in great measure
o. gh lhe liquidation in Wizards is
~ DsAeVed to have marked the culrnina-
~ sti.o VI the efforts to force complete lioui-
aSist-5 s,sa ~ tne street. As those stocks had
imo o'.1 - Iae Gorce applied for much longer
Ia i.t slan any other group of stocks on
rboil St Tue impression now is that the
ketfsr oIi otIga loa has been changed for the
onGit,1 ct sua That the Improvement in the
iebo. i,1a.iOh OF affairs viii be followed by
yera l .I prices all along the line. There
fpano3oaIH saH rumors of further trouble in
geT+ ';,ai "a circles and the North River Bank
(ba d. ~. Tue hands of sn examiner late in
nov Vnough the fact was not made
orai[-rutA uutA alter the close Of business
lni tSa .Saets ts were heavy buyers all day long
ere so Transactions for foreign account
(r Too5a 9O 5iarge that suspicion that late sales
venI,r 1Iyllon ol-l We're for the short account was
MONEY VERY HIGH.
(srT bot bfo4tnlng rates for stocks have been
rgent su ,uLtnt ana the inquiry has been very
tSDjo;o1n "nicq 60 would go to give color to the
danga ',. d., money was still tight at the ex-
for its rIt nae premium Of "a cent was exact
bred tbat use 80 over the day, while it was be-
us.o7s or Sa vne Danks were leaning to their
Ven low "a ~ IIlsfactory collaterals at rates
Eas. tSrr,,1l nan the legal figure. Buying
dent dIugnout, of the most con-
asier faaii.aact acter and reflected an
be eenora1s' Doth in money and as to
ud b.d situation. The report that
acifc ,ora aol; acquired control over Union
1t ny ~ again was used for ali n rTas ,vo,th
VAe stock shouva1 -. - - Az vas "Oivu,