The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-05-14
MARKETS BY TELEGRAPH.
FINANCIAL.

| NEW YORK, May 10, noou.-Stocks opened
| quiet but steady to firm. Money at 1905 per
cent. Exchange-long. 81 840H4 S4J4; short.
| 81 8Sla@4 IS q. Government bonds dull but
| steady State bonds dull but steady to weak
| The following were the p. m. stock quota
| tons:
Chicago & North. 1Os Terminal. 1871
Lake Shore. -. ...109l4 Western Union. sO16
Norf. & W. pref. 524
NEW YORK, May 10, 500 p. m. STERLING ex-
| change closed quiet and easier; posted rates at
| 81 Sj@4 49,; commercial bills, 81 1904 S61S
Money easy at 21s05 per cent, closing offered
at ~ per cent. Government bonds closed dull
and neavy; four per cents 1879, four and
half per cents 10l bid. State bonds closed dull
but steady.
Sub-Treasury Balances-Coin, 1922 45. 900;
currency, Sl0352, 900.
1t is now admitted that the future of the
stock market hinges almost wholly upon the
European financial question, and some of the
more prominent operators here are reported to
be going to Europe to study the problem upon
the spot. The main effect at present has been
to narrow the market after establishing a lower
range of values and to-day leading active
shares monopolzed larger proportion of the
total dealings than usual of late. News from
the other side, however, was of a more reassur-
ing character than that of yesterday, and Lon
don was buyer here, while reporting the scare
of yesterday entirely over. Thih buying was
confined almost exclusively to st. Paul, Louis
vile and Nashville, Union Pacidc and Atchison
but was especially noticeable and effective in
nrSC named STOCKS. Inc OullS, however, were
not inclined to push their advantage too far, as
many adverse developments of late have
rendered them more cautious, and commission
houses are advising their customers to wait
until the situation is more clear before going
heavily into the market on either side. The
more favorable aspect Of affairs on the other
side. however was to 81 certain extent neutra-
lized by continued engagements of gold for ex-
port over 81 900, 600 being taken to day, and the
total for the week Dids fair TO equal the large
outgo of last week. TDis, while much IS said
and written to show that tie country can stand
it, is disconcertipg 90 advocates OF higher
prices and while tho grnsrM belief ia that it
cannot last much longer, the higher rates for
money incident to the depletion OF bank reserves
makes the caution necessary. Opening prices
were from 1sQ1A per Cont. better than last
nights finals and while The vcessure 20 sell was
heavy, especially from toe west. nothing out in
dustrials yielded TO any ElateEiAl eSt6n:. Buy
ing by foreigners leads to the realization OF the
fact that large shipments Of gold l. Eur ope has
produced a better feeling there, and must re
set favorably on the situation Gsre. To-day
prices responded promptly to improved co1di-
tions, and after tbs FIRST drive, tas course OF
values was Gteadily upward unit near the close.
trading element caused stIgnt setback.
Changers were still tho most important group.
hut the upward mogemsRU attained Iargs pro-
portions also IN LAckEsannA, Wheeling anu
Lake Erie Louisville, O., c.. =. and 81. Louis.
and Pacific Mal Indust:;ais were weak point
in the market, but only Sugar shoTod any
material decline, which lasted untl tas final
sale The market closed quiet and steady after
q slight reaction OF chs lAst hour, generally at
close to the best fgUafG Final changes are IN
the direction OF higher ptI7es. me sales wero
ass 900 shares OF hsbed and &. COO shaTcs OF Cn-
nsted.
Ths folio wing were the oIoains. quotations OF
EVehauDR