The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-02

$4,000 bales against So, 2e5 this day last week.
and 39, $50 for corresponding day last year. It
IS believed large portion of the long interest
has been hquidated within the past few DAYS by
the removal or the great pressure from the mar
ket, and operators were inclined to talk buying
for the turn upward again, and this strengthened
values The south and Wall street were re-
ported as being the principal sellers but mostly
to hquidate holdings. Local traders
were understood p to have been the
few orders Ia the market, and they were pretty
evenly divided shortly before the market
again turned weak. buying orders being about
exhausted, aud then there was renewed selling
/ This was mainly by bear operators and
prices dropped to points, and at noon the
market was moderately active and easy. In
the afternoon the market Was active and, I'M
der pressure to liQuidate long cotton, prices
declined ID points from the quotations ruling at
1850 O'Clock, followed by recovery of 8 to
points.
NEW YORK, Dec. /, 500 p. m.-Money
! on call loaned at 4GbS per cent; closing and
lowest rate par cent. Sterling exchange closed
steady; posted rates 81 S61s; for sixty days
days and 81 S,S4d1l IS for demand. Govern
ment bonds closed quiet; currency IS los bid;
Is, coupons, ll414 bid; extended IS. registered,
Pacific railroad bonds closed as follows:
Union hrsts lQ'A bid; sinking funds loS1s bid;
Trading on the Stock Exchange this morning
was limited. In the early dealings the bears
attempted further break in the Gould stocks
and incidentally the whole market by unfavor-
able reports of the health of Mr.. Gould. Gould's
sons, however. asserted that their father had
passed good night and was much better this
morning Nevertheless the bears made head
way In the first half hour in depressing the
Gould properties, especially in Missouri Pacific
and Western Union, both of which declined.
The declines were confined TO fractions.
Northern Pacific preferred and New England
dropped l1S per cent. each The remainder of
the list went off fractonally in sympathy.
After 1920 O'Clock selling died out, and under
the lead OF trust stocks fractionally recovered.
At noon prices were only slightly above the
lowest point. The sales aggregated Il5,250
shares. Trading in stocks increased but little
during the afternoon Prices were irregular
and weak. Fluctuations, however, had a mar
row range Missouri Pacific closed only frac-
ton below yesterdays prices, while Western
Union closed a fraction higher. The market
closed SOL lower, except coal shares, which
closed 1s01A per cent higher. London sold
small lot of Erie to-day aud bought a little
Atchison, but foreign transactions in both wers
very light. East Tennessee to-day defaulted
on the interest of its extension and equipment
bonds. The default is said to be due wholly to
bad business. The expected failure to pay this
interest will be followed by proposal to reor-
ganize at the expense OF the bondholders. The
Georgia Central directors after an hours
session adjourned until the evening. It is I'M
derstood that the plan proposed by the finance
committee provides for the issue of debenture
bonds to pay the floating debt and scaling down
OF the interest charges. There was no lndica-
tIons of a break in sterling in the exchange
market to-day. but the tone was very dull.
The bankers expecting to ship the gold Friday
tried TO sell large amounts in order to ship the
proceeds. but could find no market. Con-
ssquentlY shipments will be limited to the
amount of bills already Sold The houses which
ship believe the exports will be $2,o00,00 Ii is
understood 81, 900 900 is desired in Europe. The
sales of stocks to-day were 266, 614 shares.
The following were the closing bids: