The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-08
MARKETS BY TELEGRAPH.
FINANCIAL.


NEW YoRN Aug. z. noon.-stocks opened
active and strong. Money easy at l16Gn2 ner
cent. ExohGnge-long. 81 S3I6; short, 81 ssh
Government bonds neglected. State bonds dull
but steady.
The following were the p ~ stock quota
tions:
Erie. " 49,. 1875 Richm'd 9 W. PIT.
OhlcaSO q NORM. lUo Terminal. .....a I2M
LakeShoro. .....sslO) Western Union. 1914
Norf. & w. pref.
NEw YoRk, Aug. 7. 500 p. m.-stering ex-
4 s51S; commercial bills, 81 s215Qsl S. Money
easy at 1z6Qp2 Der cent, closing offered at 2
per cent. Government bonds closed dull but
steady; four per cents III; four and a half per
cents 100A. State bonds closed duh bur firm
Sub-Treasury Balances-Coin, $92. Oh 900; cur
rency, Be, 03l 200.
The stock market was more active to-day
than on any since the depression in business at
the Stock Exchange began, and 1t was also de-
c1dedly strong, everything on the list reaching
materially higher figures. Indications point 10
complete change 10 the temper of population
though the strength to-day was certainly due
In great measure to the running of shorts
and the late prominent sellers OF the market
were buyers openly in the market. The efforts
to get Union Pacific down further were not
abated, however, and there was repetition of
all the stories in regard TO the floating debt
financial condition of the company and re-
ceiVership, but the stock, except during the
first half hour, moved up with tue rest of the
list and the inference is that the depression
and stories referred to were all for the purpose
OF buying stock cheaply. The news of the day,
especially in regard to crops, was all that could
be desired from bull point of view, and new
buying was encouraged. especially as London
was no longer a seller. At the same time, con
siderable selling was INDUCED in by late buyers,
the profits accrued on the rise 30 far proving
too tempting ius the present state of specula-
tive temper to be resisted The upward move
ment from the covering OF short interest was
aided also by the manipulation of certain
specialties, among which sugar and New Eng
land were prominent, while Laezawanna also
Joined the list of stocks to make sharp up
ward movement. st. Paul and Union Pacific
were the only specially actl e stocks, but bust
ness done In the rest of the list was materially
larger imam that usual of late, and the market
was certainly wider, indicating moro general
interest IN the course of prices. There were no
specially weak points even among low priced
shares and the late movement in Chicago Gas
was an exception to the general rule. Ad
vances, Which reached their hight about O'Clock
p. NJ, reached per cent. in Sugar, which Is
supposed TO be enjoying the squeeze OF late
sellers by insiders. Later realiZations, with
some help from the bears. knocked most of the
gains on, the market closely settling away, and
Chicago Gas in the last hour developed most
pronounced weakness, and scoring the only i'm
Portant decline Of the day. The conditions.
however. are very favorable 10 the upward
movement, and should any outside support be
given the market, sharp rally would certainly
be IL order. phe market finally closed active
and heavy with most of the list at slight
changes from the opening figures Final
changes are generally small fractional gains,
but National Cordage is up per cent, Sugar
lee, Chicago and East Illinois ~, Reading ~
and Lackawanna ia, while Chicago Gas is
down per cent. The sales Of listed were 2l5, 600
shares: unlisted stocks q, 900 shares.
The following were the closing quotations of
theHew YORK Stock Exchange:
a.oiass A, 2toB .100lk NO Pa'ioist mort e49k