The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-20
MARKETS BY TELEGRAPH.
FINANCIAL.

FINANCIAL.
NEW York, Jan. 10, noon.-Stocks opened
quiet but steady. Money easy at 20915 per
cent. Exchange-long, 81 S23z04 SO; short,
81 e4340b4 s.. State bonds neglected. Govern
ment bonds dull but steady
Chicago & North lis Terminal. ......15H
Lake Shore. 100 Missouri Pacific. s211
Norf. & w. pref. 49N
change closed quiet but firm at 81 sS16CD4 55lf;
commercial bills, 81 S2A04 $50. Money easy
11x02ls per cent; closing unsettled, offered at
2per cent Government bonds dull and easy;
four per cents 11615 State bonds neglected
Sub-treasury Balances-Coin, Sll3, 1859, 00O;
currency, IS, 742, 900.
The stock market to-day was both active and
decidedly weak, pressure against the list being
continued; and the supposed imminent war
with Chile was again one Of the most promi-
nent topics of conversation on the street and an
important cause of the weakness The uncer-
tainty to the course of Mr. Gould and his
associates, however, was a more fruitful topic
with which to depress stocks in the railroad
list, and rumors Of new litigation under the
antitrust law resulted in special weakness in
Distillers and other industrials. There can be
no fault found with the condition of the money
market, as funds are very abundant and the
payments Of the treasury into the clearing
house have been very large in the last few
days. Time money on firstclass securities is
now offered for four months at 315 per cent.
Traders were all on the short side to-day, and
considerable selling by the bulls who have held
on too long, went to make up the large bust
ness of the day, and while there was some
covering to take profits on the declines of the
last few days which did steady the market in
the last part of the afternoon, and some sus-
tanning orders in a few stocks, the pressure was
so heavy and persistent that the downward
movement, after q very weak opening, was
almost steady throughout the greater portion
Of the day. The first sales were from BQ11 per
cent lower than last nights figures, and the
industrials at once took the lead in the decline
with Changers not far behind and the losses
among active shares were again remarkably
even and well distributed The covering move
ment assumed no importance until the last
hour, when in few stocks material rallies
were made, but these failed to wipe out any
part OF the declines, and final losses are heavy
all through the list. The close was quite I'M
settled though hrmer temper existed owing
to the rally. Final declines of note include
Cotton Oil pa Rock Island 216, st. Paul and
Louisville and Nashville 1884, Cordage and Mis-
souri, Pacific l56, c., C., G. and st. Louis, Chi
cago Gas and Northwestern ~ Atchlson, New
England, and Union Pacific 81, Erie IA and
Burlington and Quincy. Canada Southern and
wheeling and Lake Erie preferred each per
cent. Despite the weakness, however, there
was good buying to-day in Lackawanna,
Wheeling and Lake Erie preferred, Louisville
and Nashville Louisville, New Albany and Chi
cago. and Kansas and Texas. The sales of
listed stocks were 100000 shares and unlisted
The following were the closing quotations Of
the New York Stock Exchange: