The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-24
MARKETS BY TELEGRAPH.


New York. Oct. D, p m.-Money on call
easy at IL to per cent. Last loan Ia:
closet ~ per cent:
Prime mercantile paper, cas- per cent.
Sterling exchange. heavy with actuai bust
ness in bankers bills at "A 833l@I 81 for de
mand and "A slA4G4 3! for sixty days posted
rates 3 S}0ti 81.
Commercial bills 81 SJ&Ol8l
EIOVerLm mt DOnus quiet, state bonds in
active.
Silver certificates. 73l5o bid.
New York Oct. % noon.-The following
were the opening quotations:
Erie. ................. Observation-Disclosures. lla5
Chicago and Northwestcra..... 102
Lake SnOTe. EXPERIMENTATION. =. l20
Norfolk aud Western preterre1.......... u
Richmond and West Point Terminal. 20
Western UnlOn.... OBSERVATION-DISCLOSURES. S}h
Now York, oct. 2l-It was like what the
street reminiscently alludes to as the good
old times " on the Stock Exchange today.
The dealings were on a large scale, nearly
everybody was on the bull side of the market
and there was an all-pervading air OF buoy
ancy, which carried everything before it. At
the opening Of business, discouraging adVices
regarding the pres CectS OF unconditional re
peal scaled the initial sales down Ii to a
per cent, and the indications were
decidedly depressing but the temper Of spec
ulatiOn was changed with magical rapidity
by one Of those special movements which
mark the history Of Wall street. and which
are seldom based en- anything more solid
than rumOr The moving Influence in to-
Il
noLnciug tina the New Jersey Central party.
led by President Maxwell and his friends had
detained a controlling influence in Delaware,
LaCkawanna and Western. AMI would here
after direct the policy OF that corporation.
subsequently IA transfer Of 10000 shares of
LackaWanna to VIM. X. Vanderbilt led TO the
relief that there was trunk line cOmbina-
ton in the coal deal Despite the lack of
knowledge displayed by the president
of the roads named, the impression gained
ground that the long anticipated project Of
a consolidation OF the coal roads had taken
shape Reports were current that The Read
ing and delaware and hudson companies
were involved ia the deal, to the extent Of be-
ins committed to adopt the policy to be out
lined by the New JERSEY Central party and
that ali the coal roads would act in harmony
with the trunk lines, As a natural result, the
shares of the anthracite roads were in brisk
demand and the upward movement therein
carried forward the entire market. The fate
of the silver bill was not considered as a fac
tor Of the situation. if thought Of at all. and
every stock traded in responded to a greater
or Jesse. extent to the call for an
advance. The dealers. OF course, led the
market The appreciation in values al the
highest point OF the day, being compared with
the closing sales of saturday, were IN in
Lackawanna, 9 in New Jersey Central in
Delaware and Hudson, 3as in Reading, in
SusQuehanna and western and OF IN Sus
QuehAnna and Western preferred Lake
Shore also shared largely in the improve
ncut selling up . per cent. There were slight
reali2atons at the advance, and at one time
q small raid was made on the market under
cover OF a rumor TO the ehc5t that the price
of wheat had broken, The decline due 10
these causes ran yed to IA per cent, the coal
e~s being the chief sufferers but the market
speedily recovered and the upward
movement was resumed, the hnal dealings
being characterized by strength and activity,
and the market closed with a ouoyant tone