The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-03
BY TELEGRAPH.



New York, Nov. ,, p. m.-Money on call
has cen easy, ranging from p to per cent.
i he last loan as at per cent, and at the
closing was offered a per cent.
Prime mercantile paper, sara per cent.
Sterling exchange is steady. with actual bus
mess in bankers bills at "a 8iGli 8 ~ f)r de,
mand and 81 8i@4 Sll4 for sixty days; posted
rates 81 seas
Commercial bills "a 79s40ts0
silver certInoates 69l4u did.
The total sales of stocks were 279.0C0
shares.
Government bonds strong. State bonds
New York Nov. , noon.-The following
were the opening quotations.
Erie AZ
Chicago and Northwestern...... .1047s
Lake Shore. ........... l2T q
Norfolk and Western preferred ......,.. II
Richmond and West Point Terminal. 80
Western Union ACKNOWLEDGEMENTS. sSA
New York, Nov. 2.-The speculation to day
was largely in the hands of professional
traders and the bear contiT 5nt was in con
troll during the greater part of the day. in
as much as the general conditions are all
favorable to the stability of values. operators
for decline of the market were resisted
stouty in their efforts to depress prices but
as there was 70 very strong buying at any
time sellers gained the mi cry, and as a re
suit Of the dealings all active stocks and
speciaties, with but few exceptions, recorded
declines extending to , q in the general list.
The heaviest depreciation was in National
r
cent. down to s. the last previous recorded
sale having been made at 63lq. he depres-
sion in these shares was due to the announce
meut that majority OF the first mortgage
b ndhOlders having agreed to accept per
cent. guaranteed preferre stock in exchange
for their bonds, the projected issue of
this class OF stock would be made, this
making the existing preferred stock a less
desirable security. American Cotton OH
common dropped > ana the preferred per
cent on the publication of the COmpany's an
nual statement showing a large decrease in
the net profits OF the fiscal year. The rumOrs
to the effect that the earnings Of the Chicago,
burlington and Quincy would not justify the
declaration of the usual quarterly dividend at
the meeting next week were used with the ef-
feet of deprcclatinQ the shares , 5a per cent.
/ ouisvine and Nashville shares were
hammered down 3s per cent on
OF stockholders, foreign and American were
opposed to b proposed action Of the d!rec-
tors in the pJrchase OF the Chesa peake, Ohio
and Southwestern railroad. rally OF lh
was subsequently made % Of WIKI was lost
in the final dealings the shares closing at a
decline from last night OF , " per cent. Other
shares which show the most marked declines
compared with the final figures Of yesterday
are New Jersey Central 27s, Sugar "a, Chi
cagO Gas Pa, New YORK, Chluaso ana y
Louis second preferred, 9; PittsOurg and
Western preferred and Fiat ana Pere Mar
duette , Reading and General electro z,
Distilling: ST Paul. Union Pacific and West
ern Union ia,: Rock Island and Missouri Pa
cide u: Northwest Cleveland. CincinnatLChl-
carO and ST. Louis 1ls and SuSquehanna ana
Western preferred per cent In exception
10 the general depression American Tobacco
rose pa, Toledo and Ohio Central prelerfed5 8