The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-09
MARK ats BY TELEGRAPH.
FINANCIAL.

New YORK. Sept. 8, noon.-Stocks opened
dull and heavy. Money easy at 4CO5 per cent.
Exchange-long, 81 Sl94Q14 50: short, 81 S514.
Government bonds neglected. State bonds duh
but steady.
Following were the 2 p. IN. stock quotations:
Erie .....;; S91s Eichm & W. Pr o,,<
Lake shore .1O73z W, stern Union.,. s315
Mort. & W. pref. 63
500 p. m.-Excnange closed quiet and weak
at "A S2l50i So. Money close at aGD1O per cent.
ances-Coin, S15S, 10000; currency, $S,374,O0o
Government bonds dull but steady: four per
cents 1854; four and half per cent. coupons
1914. State bonds dull and featureleSs.
The stock market has possessed more ANNA
ton to-day than usual of late, but the activity
has bean caused by the same hammering opera
possessed last W 4ek, and in few stocks there
were sharp declines; while the remainder of
the list show only slight changes as the result
of the days operations. The action OF the
Secretary of the Treasury in Offering to prepay
interest upon per cents for the coming year
gave check to the increasing aggressiveness
Of the bears, and the move was considered q
good one in all directions, and likely to have
tne desired effect upon the money market. The
slow response to the last offer to redeem AZ per
cents, and the continued low state of the New
YORK bank reserves, which have now shown
deficit from the requirements OF the % per cent
rule for four weeks in succession, made 1t i'm
perative that something should be done to meet
the drain OF currency to the interior. which
usual this year, The long-continued scarcity of
money in this market restricts the business
done in stocks to the smallest limits, would be
buyers holding off until the financial atmosphere
shall be little clearer and while holders retain
their grip upon their securities most tenaci-
ously the lack of buyers gives bears courage to
make a vigorous demonstration against certain
stocks more vulnerable than the rest of the
list Changers are now in this position and the
pressure upon Burlington and Quincy was again
resumed this morning, and notwithstanding
the fact that the circular of the Treasury De-
partment in regard to the prepayment of in
terest upon Is was the occasion of opening the
marKet up from Kos per cent. Material
losses were afterward brought about in Bnrling-
ton and Quincy and other grangers, Chicago
Gas Union Pacific, and the special market be-
came active and weaker in the afternoon, when
the most material losses were sustained, and
the only strong feature in the room was Sugar
Refineries which made a squirt of 2 per cent. on
favorable rumors from Washington about the
action upon the sugar schedule. There was no
news of a character to bring about any hquda-
ton of long accounts, and there is no evidence
that holders have given way to any extent, but
the drive was severe against the late weak
stocks and the extreme loss in Burlington and
Quincy was per ce ut. Dealings show a great
amount of feverishneSs throug hout, but the
downward movement really ceased only with
the close of business, which was quiet but weak
at ABOUT the lowest prices of the day. The sales
of listed stocks were 155, 900 shares and unlisted
81 900 shares. The following were the closing
quotations.