The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-19
NO ONE WANTS STOCKS.
THE TONE OF THE MARKET AGAIN
RATHER WEAK.

Bears Raid Jersey Central and Pa
cific Mail and the Whole List De-
clines in sympathy The Jersey Line
Knocked OF Six Points-Gould in
the Terminal.
NEW YORK, Nov. IS.-President Iumau
of the Richmond Terminal system was
asked this moraing if the story that Jay
Gou had acquired controlling interest in
the system was true. MIR. Inman said in
reply: There are zoo, 900 shares Of stock.
and of this amount Mr. Gould has bought
up one-seventh, or 100000 shares, The
board Of directors consists OF eighteen mem
bers, and the amount of stock held by Mr..
Gould will entitle him 60 three or four
members in that board at the next cleo
tion. regard Mr.. Gould and his
son George as first-class railroad men,
and they will be welcomed in the present
management My present relations with
Mr.. Gould arc of the most friendly charac-
ter. Our system has two direct conneo-
tions with the Missouri Paciic-one at
Memphis, Tenn, and the other at Green
vile, Miss, so it will loo seen that the CONS
binipg OF the two interests will be beref-
cial.n
A SLUMP on CHANGE.
The shrinkage in the volume of business
at the stock exchange, which was so marked
yesterday, made further progress to-day, and
returning dullness, indicating that no ma
terial demand for stocks existed, induced
more selling by the bears, and the tone Of
the market was weaker than it has been
since Saturday morning. resulting in many
marked losses for the day. The monetary
situation was one of the most influential
factors in restricting buying, and while
money was much easier during the latter
portion OF the day, its scarcity in the fors-
noon told severely against prices.
RAIDS BY THE BEARS.
The bears attacked Jersey Central and
Pacific Mail, and the former dropped six
per cent. in a short time, and the latter
about per cent. on very light trading.
One failure was announced in the forenoon,
and one in the afternoon, and, while neither
had much influence TO lower prices, thew
acted as n further detriment from buying,
and in conjunction with the scarcity Of
money efectually quelled tha resisting
power Of the market before noon. The at
taoks upon the stocks before mentioned
were followed by a pressure over all the
list, and the whole list yielded more or less.
the declines from the best prices of the
forenoon reaching as high as per cent,
with Lackawanna especially prominent on
the drop.
ONLY ONE STRONG POINT.
One strong point in the list was the Dis.
tillers' and Cattle Dealers Company. which
scored a gain Of about 3 per cent. and held
most of 1t at the close.
The unlisted department was unusually
quiet, and the movements Of those stocks
were entirely unworthy of notice. The
rates for money on call went down to az
low as per cent. at the close, but all
business had been done earlier
at niger rates, and the concessions had not
much effect upon prices. There was slight
rally In the last hour, when Lacka wanna
rose per cent. but the rest of the list failed
to follow. and the close was active and
rather heavy generally at or near the
lowest prices OF the day.
THE FINAL CHANGES.
The final changes are all in the direction
OF lower figures, and Pacific Mail is down
81; Jersey Central 5Jl; Missouri Pacific
81; Union Pacific 29s; Atchison iM; st.
Paul 19s; Burlington ~; Louisville TX;
Erie 11s; Wheeling and Lake Erie N;
Rock Island, Big Four and Western Union
! per cent, and others factional amounts.
The sales were, listed, 2Sl,OOO; unlisted
1900 shares.
WILLIAM f. OWENS sUsPENDs.
The suspension of William r. Owens was
announced just before the close Of the mar
ket He Is now travelling In the south for
the benefit of his health. and no statement
eau be obtained at his offica In the exchange
court except that he had no outstanding
contracts on the stock exchange.
S4,000000 IN LOAN CERT IFIoATEs.
The chairman OF the loan committee Of
the Clearing house stated to-day that S4,-
100000 in loan certificates had been taken
by banks to-day, and he expects larger
movement tomorrow. A movement is on
foot to have the bank presidents offer TO
take from the Secretary of the treasury
$4,000, 900 in small coin on condition that
he buys 4 per cent. bonds to that amount,
and II the bank presidents succeed in this
proposal they win take the balance of the
small coin held in the treasury.
A BANK IN A HURRY FOR MONEY.
WASHINGTON, Nov. 1S-A prominent
national bank Of New York city made an
offer to the treasury department to-day to
sell 100, 900 ounces OF silver at the market
rates. 1t was refused on the general
ground that the department can consider
offers only on the regular purchasing days
Mondays, Wednesdays and Fridays
AN oMINoUs OUTLOOK.
LONDON, Nov. 10, 3 A. M-There Is
rumor that another prominent banking
firm Is in difficulties, owing to its inability
TO rediscount maturing bills. The Financial
NeWs says 1t hopes the report is not true.
but it is afraid that many weak spots have
been made in the fiDancial world by reckless
underwriting, and that more than one house
IS tottoring under load OF overwhelming
unforeseen liabilities.
CAUSING EXCITEMENT IN FRANCE.
PARIS, NOV. 19.-During the debate on
the budget in the Chamber of Deputies to-
day, M. Laur asked leave TO question the
government. as TO what it proposed to do TO
prevent draiu Of gold from France for the
benefit of foreign markets.
M. Rouvier, minister of finance, declined
to discuss the question, whereupon NJ. Laur
made violent attack upon the finance
minister, accusing him OF using his official
position TO enrich himself by speculation.
Great uproar followed, aud the president
of the chamber twice called M. Laur TO
order. The latter became greatly excited
and endeavored to continue his harangue,
but was finally compelled to desist.
AccEPTAgcEs OF BILLS.
LONDON, Nov. 10, A. M.-The Iymes
says; mo bill drawn on Barring Bros.
after last Saturday by correspondents will
be accepted, but all drawn previously will
be recognized. The Bank OF England is prao-
ticaly In charge Of Barring Bros affairs. tits
probable that the firm will be resuscitated
with fresh capital. The bank is charging
high rate OF discount in order to prevent an
in-rush of bills. lt desires holders TO exer-
else forbearanoe and not throw unnecessary
work on the bank All acceptances already
provided fer will be met at maturity"
Stone for charleston's Jetties.