The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-04

started in to cover At this time Changers
developed strength and impaired u strong
tone to the general market Cen
erai Electric suddenly bounded up
Al per cent TO 72z stimulating the general
buying movement. Among the conspieuously
strong stocks were New England Reading,
Sugar, Changers and Laekawanna, New Eng
land rose , to 33lR, and Reading sold up from
1919 to i721. The feeling about the success of
the readjustment plan IS rather more conf
dent for the moment Burlington and Quincy
advanced q, Rock Island IL, St. Paul /,
Lake Shore /, American Sugar + a, Edison Il
Eliminating 3ts and the remainder OF the list
Il to q per cent The bank statement was
unfavorablo, but it had no influence, neither
did the talk about additional heavy
exports of gold next week. 1t
was estimated tina Tuesdays European
steamer will take ont SlO00OO0 20 81, $4,000
Business was interrupted for u time, the in
fanta having been rendered reception by the
Stock Exchange, just previous to the close
General Electric reccded l4W2A ana the gen
eral list reacted 1a6,4 per cent. In the final
dealings the market was firm, prices show
ing net gain for day of 14g3 per cent. sales
stocks. $1,000 shares.
The following were the closing bids;
AtchIson. I. s. ST. 2415lN Y. Central. BE-. 1914
Baltimore & Ohio. 69 IN j. Central " 1864
Canada Pacific. rs Mort &Westpfd. 24ll
Ches & Ohio. 1917 Northern Pacific. 1881
Chicago, b. s. G.. IS do preferred 333e
Chicago & Alton. 1913 Northwestern O.. 1864
Cotton Oil ........ 81 do preferred 1875
Cotton Oil pref 6S% Pacific Mail. 900. 1919
East Tennessee o.. @sReading. ........... l73s
do do pref. 10 Richmd T1ninal. pa
Erie .............. II Rock Island. 7114
Erie preferred . 3414ISt. Paul. ....... G7%
Illinois Central. S7hlSt. Paul pref. 1851
Del Lack 81 W. 1857 Silver Certificates S24
Lake Erie 4 w. II Sugar Refinery. S64
do do pref. 69R do do pref SO
Lake Shore ...... 12)A Tenn. Coal s. Iron. II
L'ville & Nash . 625s do do pref Is
Memphis & Char. 10 Texas Paciic..... So
Michigan Central 81 Union Pacific. 27%
Missouri Pacific. 95a lWabaSh......,..,. TX
Mobile & Ohio 49, 10 Wabash pref 154
Nash, c. & st. l.. s. Western Union, s.
STATE bonds
Alabama class A .10i Tennessee olds.. 60
Alabama class Is 10+ Tenn, new set Is 1919
Alabama class G. 93 Tenn. new set s. 1913
Louisiana cOnsls 80 Tenn. new set IS %124
North Cardinals $50 Virginia GS.,...... 80
North Carolina6S l2i do eEruat. coup. IS
5. Caroa Browns 90 Virginia consols.. 50
GovERNMENT BONDS.
United States Is, registered. ...........11fIl.
United States Is, coupons ................ll24
United States Is. "
*Asked.
New York, June 3.-Sub-treasury balances:
Coin, 55s ,002, 600; currency $2l8fIO00.
The weekly statement of the associated
banks, issued by the clearing house to-day,
shows the following changes:
Reserve decreased. .........-.-.......o 81 432 425
Loans increased ACKNOWLEDGEMENTS, 7S6 900
Legal tenders decreased ...,.......... $3.50. 100
Deposits reaSed................,.... 5,3l3,500
VI
The banks now hold $50. 0S7 500 in excess Of
the requirements Of the p per cent rule
Cotton.
Liverpool, June 3, noon.-Cotton opened
with active business; prices hardening;
American middling uplands 3-lOd: sales
1900 bales-Ameriean l0l0O bales; Spccula-
tiOn and export 1000 bales; receipts 1908 bales
American 500. Futures opened firm; de
mand good.
Futures-American middling low middling
planSp lUOn and ,IUlV delivery 13-646 also
i464d, also l5-Gid also l46ld; July and
August delivery 4 l5-6ld. also 4 l7-6ld also
1864; August and September delivery
4 l76id, also 1S-64d; September and October
delivery 1S-6td. also 4 20-64d; October and
November delivery 20-64d, also - Gid; No
vember and December delivery 22-6id, also
4 23-6id; December and January delivery
4 2364d. also 4 - Gid. also 25-64d; January
and February / 26Gid.
p. m.-Futures: American middling, low
middling clause. June delivery l3-6Hgi l664d;
June and July delivery l5-64E1i 16 Sid; July
and August delivery l7-6id buyers; August
and September delivery l9-G4d, sellers: sep
TENDER and October delivery 20-64l54 2l-64d:
October and November delivery 1 2!-6iG1
4 23-64d November and December delivery
246id. buyers; December and January de-
livery 25-6iGf4 26-Gid; January and February
delivery 27'641a4 2S-Gld. Futures closed
steady at tho advance.
American middling fair 45d, good mid
ding lied middling 5-l6d, low middling
4 3-l6j, good ordinary Lied. ordinary 3Ed.
New York, June 3.-Rordan s. Co. say of
cotton: The week closes with a very decided
change in the temper Of the cotton market
LiverpoOls persistent strength has wrought
the transformation though the crop &C
counts are not altogether favorable, there has
been nothing in them as vet TO warrant SO de-
Cided an advance, but the steady improve
ment in Liverpool has been too much for the
eQuanimity of the shorts, and today's mar
ket for the most part was a heiter SkClter
rush to cover. August opened 10 points higher
at 7.7lc and the demand gradually Increased
during the two hours OF trading, tho close being
firm at the highest prices, 1880 being bid for
August. To-day rise was so sharp that it
will probably require q further advance in
Liverpool on Monday to sustain prices here.
Many of the bulls to-day profess to believe
that Liverpool IS now permanently on the
bull tack, but we can see no reason whatever
to Justify this view. The course of prices at
last Is going to be governed by the outlook
for the crop in its successive stages. Unless
that outlook becomes very gloomy the huge
surplus which still confronts the spinneTs will
be likely to bar the way n any
very important or lasting advance We think
the present reaction will eliminate when
ever the short interest shall be substantially
covered. here will hardly be any adequate
incentive to buy cotton for investment at the
higher price and as soon as the demand from
the shorts shall have been satisfied we think
a sudden and perhaps q sharp decline ex-
trCmely probable But the market is sure
to continue very nervous until June TO- when
we will get the May report Of the agricultural
bureau
New York, June 3, noon-Cotton futures
opened firm, as follows June delivery &c,
July delivery 74c August delivery SIC
September delivery 7Dic October delivery
7 ggc. November delivery 0Gc.
Cotton contracts opened firm at Sob points
advance closed firm az 1881 points over yes
terday.
New York, june 3, p m.-Middlinq up-
lands 7Sc, middling Orleans sac good
ordinary &C, low midding &C Sales Sj7 bales
Cotton steady.
Futures closed firm with sales of los 400
bales, as follows: June delivery Z 6lGtT CSC.
July delivery 7lGl7 75o, August delivery
Z SS97 SIC. September delivery ait17 a2c
October delivery 0Da8 tnc. Novernrer De,
livery 06dS NC, December delivery oI461
8 l5e, January delivery 8 2iGs pc. February
delivery Is 275Is 2sc.
Total consolidated net receipts az all the
ports to-day and SO Far this week were 30S7
bales exports, TO Great Britain 20S3 bales,