The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-02
MARKETS BY TELEGRAPH.
Financial.

New York, Nov. /, 4 p. m.-Monev on call
has Teen easy, ranging from y to per cent.
The last loan was at per cent, ana at the
closing was offered a , per cent.
Prime mercantile paper 5G17la per cent.
Sterling exchange is steady, with actual bus
mess in bankers bills at "a 8ils6t4 81 Y for de.
mand and a ,la@4 500 for sixty days; posted
rates ST. 89tQA g
Commercial bills 81 79HOf 79,i.
silver certn,ates 69.707Jlsc. The last
quotation was made averal DAYS ago. to-day
they were quoted at 61c. sellers; G0c bid.
The total sales of sto, Ks were 3lI, 100
shares.
Govern meht bonds firm. state bonds
without movement.
New York. Nov | nOOn.-The following
were the opening quotations:
Erie........... ... ..................... I4IH
Chicago and Northwestern. l04ta
NorfoiR and Western preferred
Richmond and West Point Terminal. .... 80
western Union. OBSERVATION-DISCLOSURES. SSst
New York. Nov. 1T was a decidedly
healthy market in stocks to day, and the vol
ume of business, though lighter than during
the past few days was fairly active. Two
great feeders OF the New York market were
not m operation it eing a bank holiday in
London. and the Chicago exchange being
closed on the occasion Of Mayor Harrisons
funeral. This tended to restrict the dealings
and left the speculation practically i the
hands of local operators. 'the Influences af-
feCtlng the speculation were mainly such
as concerned special stocks. The silver
bill was regarded as practically out of
the way, its passage through the final
stlges being a matter of mere poutine. The
news that the House had agreed TO the
Senate amendments did not reach the
street until after the close OF business. and it
is not likely hat it would have caused any
movement had 1t not Leen during business
hours. The cancellation Of outstanding clear
ing house loan certificates. which was effected
this morning, caused an incident of the day
plnic and was accepted as evidence Of the re-
mgrFabln TeCuDnTHtIVp of the local
finances. The first issue of these certificates
was made on June Il, the total amount authO-
riIed having been S4l 10000, and al one time
some $3.50 10000 were in existence. which,
within the space OF four months, were wholly
retired, an operation viii, b has seldom If
ever, been parelleled in the hnlucial
centers OF the world. Among the special
features OF the day was the unusually
heavy buying in Chesapeake and Ohio, the
purchasing being credited to the Wander
bilts who il is claimed. are anxious 10 OBJ
tain a strong representation on the board Of
.rectOrs of the company. The interest de-
faults of the Erie and East Tennessee, Nir-
giuta and GeOrga mad no effect on the
market as IL had been previously announced
that defaults would be made. report was
circulated that the statement Of the Chicago,
burlington and Quincy for October would
show greatly reduced expenses, and that the
net income for 1893 would not fail short
of that for 1892, which. II was said, in
sured a continuance Of the regular dividends
for the current year, at least. FROM the LoL-
isville and Nashville contingent came the
suggestion that the directors OF that company
would shortly announce that they had taken
their option 10 buy the Chesapeake, ONO and
Southwestern road The Associated Press
dispatch stating that the Baltimore and Chic
Railroad Company had aoated 8;O0O-0O
loan in London was accepted by
the street as evidence OF r.
turned confidence in American corporate
institutions on the part OF the English capt
IA lists and taken in connection Win the
other favorable incidents, assisted IN CeVel-
oning the strength OF the market and induced
purchases for the long account as well as IN
Wiling the short interest, which, II Is said, Is