The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-03-26
MARKETS BY TELEGRAPH.
FINANCIAL


New York. March %. neon.-Stocks opened
firm to strong. Money easy. Exchange-lonR.
81 S6110l4 s616; short, 81 8S16014 $3.50. Govern
ment bonds neglected. State bonds dull but
steady.
The following were the p. m. stocK Quota-
Erie 81. .......... 1885 Richmd & W, PIT.
Chicago & North. los Terminal .....s l7M
Lake Shore ....110 Western Union. so
NEW York, March IS, 500 p. m.-Sterling ex
change closed quiet and easier at 81 SO
| S911; commercial bills, 81 8514QS4 6o14. Money
easy at 2Q3lS per cent. closing offered at ~
per cent. Government bonds closed dull but
steady; four per cents l22, -four and half per
cents 1o2. State bonds closed entirely neglected
Sub-Treasury Balances-Coin, Sl49,22I,O0O;
Dizziness and stagnation in the stock market
was still most intense to-day, though relieved in
a measure by the activity and strength in
Changers and few of the special list. The
activity and excitement in the grain markets.
| now draw all attention from the speculative
community, and until the speculation In cereals
| has eliminated, there is small chance of 1mmi-
tation in other speculative markets. opinions
| as to the course of the stock market in the I'M
mediate future are, therefore, hard TO OBTAIN,
| and, indeed, SO many houses IN wall sIreet
now have their entire time taken up with fol-
lowing the fluctuations in grain that no atten-
ton Is paid whatever to fluctuations in stocks.
The sentiment however, continues strongly
bullish despite the dizziness, and 1t IS evident
that the holders of stocks are possessed or I'M
usual patience or liquidation would have been
forced era this in most OF the leading shares.
The only really active interest in the market
seems to be shorts in Changers, and they fur-
nished the moving force to-day, another effort
to cover resulting in forcing up the prices OF all
Changers; while the movement for the time
spread to other stocks, New England, Atchtson,
Louisville and Nashville and Missouri Pacific
feeling the stimulus In obedience to the gen
eral bullish sentiment, and in absence OF any
pressure to sell from any quarter the opening
this morning was quiet but firm. and further
Improvement was made in early dealings under
the influence of moderate covering of shorts.
This movement however, became most pro-
nounced in Changers toward noon, when Rock
Island was forced up ~ per cent, st. Paul and
Burlington and Quincy each / per cent, and
the movement extending to other stocks. A
very favorable report of the earnings OF st.
Paul for the third week in March started buy
| ing but it did not stop there. The highest
prices were generally reached about noon. and
were we'll held all through the afternoon until
the last hour, when realization on the advances
began, helped along by the fact that London
viii be out of the market for four days, and
| the holiday here on Friday will seriously inter
week. The reaction was for fractional amounts
| Tunnel, Phoenix Mining. and others Of a like
time. The market finally closed dull and
generally fractions higher than last evening,
sugar being the only stock which showed
arked gain. it being 1A per cent higher.