The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-18
MARKETS BY TELEGRAPH.
FINANCIAL.

NEW YORK. Sept. II, noou.-Stocks opened
quiet but firm Money easier at per cent. Ex-
change-long, 81 s0A@D4 81; short, 81 S414@
S4l3 Government bonds neglected. State
bonds dun but firm.
Following were the 2 p. m. stock quotations:
Erie. ...;..::..... 251e Richm'd & W. Pit.
Chicago & North 1882 Terminal. 80. 20
MORT. & w pref. 62
500 p. m.-Excnange closed quiet but steady
at 81 Sl18Q14 s.. Money easy at 347 per cent,
last loan per cent, closing offered at 2per cent
Treasury balances-Coin, 1856, 751, 900; cur
rency S7,l27 600. Government bonds dull and
lower; four per cents l2j; four and half per
cents 1914 State bonds entirely neglected
This general impression in the street last
night that the Secretary of the Treasury would
obtain the requisite amount of bonds to-day,
which would insure ease in money at least for
the remainder of this month, induced a more
hopeful feeling among commission Dealers and
there was displayed this morning an increased
disposition to buy. The more sanguine bulls
pointed to the fact that the late decline having
continued for week, argued that the reaction,
under favorable circumstances, must last at
least that time, and were disposed to take the
long side for good turn. The bears, however,
while acknowledging that there would be ma
terial rally were not inclined to give as long
life, and maintained that short interest is only
moderate, aud liquidation of long accounts
would be started by any marked Improvement
in values. Almost every one was agreed, how
ever, that the bottom had been touched for the
present, and buying to-day was more eager
than for some time, and especially so after it
became known that the full amount of As had
been obtained at even a lower figure than it had
been expected, the Secretary would have to pay
for them. Traders were almost all working on
the long side, and there was a most welcome
absence of bear pressure in any portion OF the
list, although some sluggishness was shown
here and there The correction of the general
impression that the Secretary said that he could
do nothing more for the money market after
the acceptance of his pending offers and the
assertion that he said that the impression re-
ferred only to Is did something TO restore
better feeling for the future, as the bears were
inclined to make all the capital possible out of
the impression referred TO. London figures
were higher this morning and while there was
not a very urgent demand here, first prices
we're generally slightly higher than last nights
final figures The market soon developed
strength, however, and prices rose steadily
until after the bond offerings became known
By that time the whole active list was up from
lD116 per cent, with Lack lwanna, Big -Four,
Chicago Gas and Wizards most prominent for
the gains scored. The bears then attacked the
list on the theory that the result or the BOND
offerings had been discounted and in their
efforts to break values were aided by conside
able reaZations among traders on advances or
the past two days. A large failure in Boston
was also used as a club with which TO knock oil
quotations, and before the close all the early
gains had been wiped out, and in few IN
stances material losses were incurred. The close
was quiet but weak. generally at small fractions
below opening figures Changers were specially
prominent in the late decline The sales OF
listed stock aggregated $4,000 shares ana I'M
listed 1900 shares. The following were the
oI,@ fafir