The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-25
MARKETS BY TELEGRAPH.


FINANCIAL
New YORK, Feb. "a, noon.-The following
were the opening quotations;
ERIE -. So4
Lake Shore
Northwestern ............,...... ........lll9B
Norfolk and Western preferred. S416
Richmond and West Point Terminal ...... 916
Western Union. ............... ...... ..... 95l5
NEw YORK, Feb. "a, 500 p. m,--Money
on call easy, ranging from 405 per cent,
closing offered at per cent. prime mercantile
paper 5C1616 per cent. Sterling exchange clos I'd
firm posted rates. 81 s7D4 S9l9; cou mercial
bills, 81 S5346l4 IS. Government bonds dull but
steady to firm. Southern state bonds neg
lected. Railroad bonds active but irregular.
New YoRK, Feb. IA decidedly bearish sen
timent existed in all stocks this morning, but
the day developed a material change III this re-
spect, and while little resistance WAS given TO
the decline in the leading weak stocks, the mar
ket, as a whole, again showed disposition to
break away from the Influence of these stocks,
as their m 1vements were the result of special
causes and not justified by the general sltua-
ton, The outgo OF gold for tomorrow was
reduced TO a mere nominal sum, and
money was decidedly easier than for some
time before the holiday. While little attention
was paid to thes5 influences they evidently had
their full effect, and weak. feverish and I'M
settled speculation was changed into q strong
one. Reading and it's affairs occupied still the
most prominent position In the view Of the
street, but there was decidedly better feeling.
Price was depressed only fraction and full
and substantial rally was in progress during
most Of the entire day, finally closing at 80,
with net gain ia per cont. IL was some
what handicapped, however. by the course of
Its ally. New England, the traders found this
stock an easy prey, aud undoubtedly heavy liqui-
dation was performed while the bears uncovered
stop orders continuously, and from 81 last even
ing 1t declined to 2SM. with hardly rally
worthy OF the name, and finally closed at 20 with
q net loss of per cent Only one other promi
mont feature marked the dealings, which was
Sugar. The belief was general tnRt the liquda
ton In progress was for account of the pool and
decline of nearly per cent. to 1116 was es
tablishe1 in the forenoon The appearance of
S. V. White in the crowd turned the course of
the price and almost full recovery before the
close was established, primarily, by his pur
chases. Among the other industrials Cordage
was especially weak In the forenoon, retiring to
81 against 6236 last night. And in this also
full recovery was brought about. Among rail
road stocks all showed material ad-
vances at the close of the day. but the most
prominent movement was in the coalers, which
had been unduly pressed of late by vague ru.
mors Of something 20 transpire Of an untaVora
bic nature. Lackawanna to-day rose 4 per
cent. to l47, and the others proportionate
amounts, thus revealing the principal source of
the late selling. Lackawanna closed with net
gain Of 31s per cent. Among other substantial
gains were Manhattan, per cent. to 100, aud
Lead per cent. The general list showed firm
temper and fractional adv noes are the rule.
Sales. listed stocks 602,0J0 shares, unlisted
1876. COO