The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-10-21
MARKETS BY TELEGRAPH
FINANCIAL.

New YORK, Oct. 20, noon.-Stocks opened
quiet and heavy. Money easy at 304 per
cent. Exchange-long. 81 SOlai14 sou; short.
81 S5150t 1914; Government bonds neglected.
State bonds dull but st sadly.
Following were the p. m. stock quotations:
Erie. 49,. 2!a Richm'd & W. Pt.
chicago a North .lOIes Terminal. ...... 1875
Mort. e ". pref. 5YlS "'t" o"'On' - Oh
500 p m.-Excnange closed quiet but steady
at 81 ol04 5618. Money easv at sos per cent,
balances-Coin, Sl43. S05, 900; currency, $500
900. Government bonds dul but steady; four
per cents 1874 four and a half per cents 1915.
State bonds neglected.
The wiping out of tho entire surplus of bank
reserves again, as shown by the statement of
Saturday, once more was the monetary ques-
ton before Wall street as subject for discus
sion, and the I'm eastneSS AMI calculations Of the
habitueS of the street are gain hinged upon
the probability Of easy money or the reverse.
1t is estimated that the expenditure of the gov
eminent, taken in conjunction with the issue of
silver certificates from this time on, will exceed
the amount Of funds absorbed by the govern
ment for customs and revenue, bu5 the ACCUSE
tions of tho locking up of money for speculative
purposes by some large interests ara heard
again and the absorption of over $50 900 900
surplus in so short a time, with no speculation
of moment is rather surprising. 1t Is assumed
that any improvement in the monetary stua-
ton abroad will induce tae buying of American
securities, whenever our market gives any en-
enlargement. The bank statement had no an
preciable effect here Saturday but foreigners
were inclined to think that IL settled the QueS-
ton as TO whether there would be any marked
improvement there, and The market there was
lower this morning. Reports we're circulated
also that there was news in London of furth +
financial difficulties in South America. and sell
ing in this market apparently for London &C
count was most influential fsctor in our mar
ket to-day. This selling was ably seconded by
the bear party and room traders who were
pronouncedly bearsh, this morning, and he
temper of the market vas therefore weak and
declining throughout the day. The market was
active only in spots, and those spots were
where the greatest pressure OF short stocks were
felt. The opening followed London, all
stocks being from 1s09s per cent lower than
yesterdays closing figures. Prices here in the
early dealings clearly showed a tendency to
continue the upward movement of Saturday
although there was little actual strength show
anywhere except in Chicago Gas and North
lower London figures and lower opening frac-
tional advances were scored in the first hour
Special pressure was brought to bear upon
Union Pacific, Louisville and Nashville and
AUchison, however, and the course of prices was
reversed. Then new elements of weakness ap-
p Jared in Sugar Reflneries, in which the pros
poets of further legal impeachment to the or
CARNATIONS were maize most Of to shake out
speculative holders OF certificates A large
amount Of stock changed hands and decline
of ga per cent was forced in il. The stocks Of
the regular list mentioned, with some of the
Changers, notably Rock Island ana Burlington
and Quincy. also felt the influence and scored
declines from the best figures of the first hour
of from 1xO15s per cent. In the meantime the
remainder of the list was dull and heavy, within
exceedingly narrow limits. fluctuations being
barely sutficl Mt to mark the tendency in prices.
The downward movement, however, was not
allowed to lag In leaders, and eased only with
the close Of business, the close being quiet but
heavy to weak at or near the lowest prices of
the dav in most stocks. notwithstanding rally
of ia per cent in Sugar Refineries- Fiual
changes in most Of the list, while almost invar
iably in the direction of lower figures. are for
small fractions, and the only important losses
were Louisville and Nashville IL, Union Pacific
lsS, Sugar ~, Burlington and Quincy Ia, and
Rock Island 11s. The sales were 1871 900 shares
Of listed and u, 900 unlisted shares.
TIE following were the closing quotations of