The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-20
MARKETS By TELEGRAPH.


SYw YoRK, Dec II, noon.-Stocks opened
irregular. Money in demand at 10 per cent.
Sterling "Reminiscences sixty day bills
81 8516614 s516. State bonds opened neglected.
Government bonds opened steady.
NEw YoRK, Dec. 10, 800 p. m,-Money
on call active; prime mercantile paper sos per
cent. Government bonds closed steady. state
bonds dull Railroad bonds lower.
Money on call has been active. ranging from
6G140 per cent, last loan 6, and closing offered
st 6. Recovery in the stock market was making
good progress at 2:15 O'Clock .. m when Read
ing was suddenly attacked, and declined from
81 to 5l13 on enormous sales. This led to re-
action in the. general list, St Paul being
dustrials sold of 14Gyi per cent. from the best
figures of the afternoon, but rallied fractionally
IN the final sales Reading also recovered 81
per cent, and Manhattan at 1885 was "a per
cent. better than the close on Saturday. Specu-
lstion closed 1rnner.
NEW YoRE Dec. 19.-There was big break
IN the Ipdustriels shortly after midday. The
stock exchange was the scene Of the widest ex-
element, in fact there was condition of af
fairs bordering on panic. 1t appears that the
pool in Chicago Gas dissolved. and members
thereof we're compelled to take up their hold
ings. One of the members of the pool, g Ger
man American f1rm with their headquarters in
the Mills building, started in to sell their stocks
before the room became aware of the liouida-
ton. Operators are very timid Just
now on account Of the gold export movement.
The attempt to liquidate in Chicago Gas was
the signal for an attack on the industrial group,
rarely, if ever equaled. Traders were simply
frantic and threw over their stocks almost re-
gsrdless of price To add to the fever money
vas bid up to 90 per cent. on cali, aud
could not be obtained in round amounts
even at that figure. Chicago Gas broke
from 500 to SO, Distillng and Cattle Feeding
from o. to 81, American Sugar from 1861 to
lo434, National Lead from ar TO 1888, pre-
ferred from % to s9sl Cor6age from 1884 TO
l34$z, American Tobacco from 100 to 116 Linseed
Oh from il94 to 81 and Starch from 32l6 70 30
Less than week ago Distilling and Cattle Feed
ing sold at 13l6 and CordaRe ruled at i43.
Alter 12:90p. m. the excitement subsidized some
What and substantial recoveries were noted.
Bales of stocks to-day aggregated 622 los shares,
including the following: Atchson II, 503 Chi
ce2o Gas SO, 000; Delaware, Lackawanna and
Western $40; Erie 1910; Louisville and Nash
vile 2,625; Missouri Pacific 10000; Northwest
sos: Northern Pacific, preferred, 10 1893; New
England u 500 Reading 102, 300, St Paul 70, i03;
Union Pacific 6,s25; Western Union 1889 -,
NEW YORK, Dec. 19-The week opened with
unusual activity and excitement in the stock
exchange and totaled up 6e2 los shares, the
largest total for very long time past. The
great feature Of speculation was the bad break
10 Industrial stocks. due chiefly to the export
movement of gold, which has frightened
up the money market and has caused
hanks to discriminate against those securities
IS collateral on loans. The situation was ag-
EravRted this morning by the announcement
that $500, 900 IN gold cad been take for ship
This alarmed small holders and evil
IDENTIFY made an impression upon
some Of the larger operators who proceeded
TO lquldate quietly Before they had pro
dressed very far in the operation, however.
members of certain pools took fright, and there
followed a general break of Industrials. AS
rule, the losses in railway stocks for the day
wee only AQH per cent, while lndustrials
show a net Decline of 1IaG1 ~ per cent. Rail
way bonds we're lower Prices fell of t9sG121S
Per cent New York, Susouehanna aud Western
seconds, Richmond and Dauville skies, Texas
Pacific flrsts. LsckAwanna flves, Reading pref
erence incomes and AtChison Issues making the
greatest losses. Colorado Midland fours rose
2l%01316, Louisville and Nashville Pensacola di-
vision to 1.0s. and Colorado Coal and Iron sizes
] to los The transactions amounted TO 81
2i7, 900.