The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-28
MARKETS BY TELEGRAPH.


New York, July p, noon.-The following
were the opening quotations:
Erie Observation-Disclosures. Observation-Disclosures. 90
Chicago and Northwestern. 81 =
Norfolk and Western preferred ......... IS
Richmond and West Point Terminal. Z
Western Union. Observation-Disclosures. 69lt
New York, July p, p. m.-Money on cal
has been active, ranging from to Is per
cent and interest. and closing offered at per
cent prime mercantile paper SO y per cent.
Sterling exchange heavy; posted rates 81 81 z
"a S31s. Commercial bills 81 7sl2@i 8lla
Government bonds weak. State bonds dull.
Railroad bonds weaker
New York July 1.-THE day opened in the
Stock Exchange with renewed depression,
and sudden drop of points in LackaWanna
TO III created no little uneaSiueSS. as Il repe-
tition of yesterday S heavy liquidations with
possible failures was feared in stock circles.
General Electric, Consolidated Gas Chicago
Gas. American Sugar, Canada Southern and
few others sustained losses of 103L2
per cent, but speculation soon quieted down
when 1t was found that there was some sup
port to the market. The strength of the Lon
don market and liberal foreign buying orders
tended to restore confidence in a measure,
nut the bears renewed their raids at every
opportunity, and the result was some most
cratic movements, prices advancing sharply
one minute and then breaking badly the next.
1t was noticeable after the first hour or so of
business that the market resisted the attacks
made upon IL with increasing force. and
later it became evident that an accumulation
OF STOCK was IN progress DN STRONG houses and
, individual operators. The really important
movement of the day occurred after the de
livery hour, when all the stock exchange
houses having gone through without trouble
the shorts made a regular scramble to cover.
The street heaved a sigh of relief when it was
found that there were to re no failures and
was greatly encouraged by the steps taken by
some of the bankers in connection with the
clearing house banks to import a large
amount of gold Immediately. The prOha-
bility is at least S3O00OOO in gold will be
shipped from Europe on Saturday to this
side, low rates of exchange making the opera
ton feasible. The foreign purchases of
stocks were estimated at 10000 shares and in
vestment buying of small lots for home &C
count was on larger scale than for many
years. Z he latter IS regarded as most impOr-
she street The advance in prices from the
latter in Evansville and Terre Haute
which sold up to 90 and closed at 81
Lackawanna rose 81. Manhattan 3. Conso1i-
dated Gas ~ New York Central Lake Shore
and American Cotton Oil preferred 8. Canada
Southern, Northwest, Lead, preferred. Big
-Four, Omaha and Erie preferred ,, American
Sugar, Chicago tias and Western Union, "A
st. Paul 4ls Pullman +. Burlington and
Quincy 3 q. General Electric ana Louisville
and Nashville 3aa Mobile and OHIO and
Rhode Island, "a National Lead and New Jer-
seyCcntral 3, ana Missouri Pacihc.2 b. In the
final trading there was a reaction of 4 TO p
per cent. in few instances but speculation
closed firm in tone. Sales listed $50 900 shares
Unlisted 36 800 shares.
The closing bios were.