The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-26
MARKETS BY TELEGRAPH.


New York. Oct. 25, p. m.--Money on call
has been easy, ranging from 1% to , per cent.
The last loan was at IL per cent, and at the
closing was offered at y per cent.
Prime mercantile paper, 5l2Q8 per cent.
Sterling exchange, heavy with actual bust
ness in bankers bills at "a S514614 S31% for de.
mand and 81 81 1@@4 sl7l for sixty days; posted
rates 81 S}Il4 So.
Commercial bills 81 8OH8ls1
Silver certificates, IN 9724c.
The total sales of stocks were 433 7CO
shares.
Government bonds firm. State bonds
dull.
New York. Oct p nooa.-The following
were the opening quotations:
Erie ......................... l5&
Chicago and Northwestern. 1O5
Lake Shore. Observation-Disclosures. 1913
Norfolk and Western preferred .......... PIN
Richmond and West Point Terminal.... 81
Western Unton.-.. OBSERVATION-DISCLOSURES. SO
New York Oct 25.-The history of today
in Wall street, taken as whole, seems to
justify the contention which has been b Sid
that when the silver question was solved, and
not until then, would the current Of specula-
tIon return to its accustomed channels. 1t
was not made manifest very clearly in the
early dealings that the situation had been en-
tirely cleared, or that the expected revival of
confidence in the stability of values had come
to stay. There was certain feverishness
in the dealings that appeared
TO be inconsistent with a steady upward move
ment, based on solid foundations; but as the
day advanced the tone OF the market became
healthier, and evidences of a strong under
tone were not wanting. For the first time in
many months the commission houses were
larger IN the market as buyers upon orders
from clients in town and outside. The mails
brought numerous inquiries addressed to the
large brokerage houses, asking for advice as
TO whether the time had come for operations
on the bull side Of the market,
and as to the best stocks for specula
tive turns on the long side 1t was
no longer to be purely traders market. The
outside nubllp moved 10 take a hand in
the deal Then too came the ecline in
foreign exports which is perhaps the best
indication that can be afforded of the restora-
ton o, the stability OF the national finances
and with the lower rates for sterling bills
came suggestions OF possible imports of gold
There is perhaps very little likelihood of the
importation of gold from Europe until at least
the silver bill is finally passed, but the fact is
that a slight margin of profit
might od e figured fgGm the out otb in s nip
at existing rates of sterling. Very little buy
ing is reported to have been done for London
account foreign investors appearing TO be
slow in appre ciating the true situation of
affairs in Washington. At the opening Of
business a firm tone prevailed and the active
stocks sold above yesterday S closing figures,
prices moving upward for some fifteen min
utes. Then came reaction followed by re-
covery and another retrograde movement, all
in the first hour n he result OF the
movement was however. an advance IN
wich all the shares traded IN participated.
Reading took the largest part in the dealings,
and was bought at advancing quotations, on
the expectation that the receivers would
hnaliy settle the Speyer loan, which would
Indicate that Reading was included IN the
coal combination. Western Union was IN
heavy demand throughout the entire dav. and
attained unusual prominence In the dealings,
moving up with steadiness that permitted
only the smallest fractional reaction ana cio.
slug within lfc OF top prices The general
marl.st closed strong. and with very few ex-
captions above the current prices Of yester-
dng IS closing.
ThcclOsug bias were.