The morning news., 1894-11-24

Prime mercantile paper Su4 per cent.
sterling exchange is weak, with actual
business I'm, bankers bills at SS64d4S6at
for sixty days and 81. 81 aa4S72s for de-
mand; posted rates 81 S7GI4 SSH
Commercial bills $iS5i ad4S6l4
Bar silver, 62i2c.
Government bonds were strong State
bonds were duh.
Silver at the board was quoted at 68lsc
New York, Nov. 2S.-The treasury bal
anees We're as follows: Coin, $1l ,i37 coo;
currency, $65,3S6,oOO.
New York, Nov. 22.-The following were
tne opening quotations at the Stock Ex-
change to-day:
Erie .....' -
Chicago and Northwestern......... IS
Norfolk ana Western preferred ........ p
Ichmond and West Point Terminal. 15ai
Western Gnion................... S75s
southern Railway common. on............ iii
southern Railway preferred. .............2 27l
New York. Nov 2S.-lt was very narrow
market at the Stock Exchange to-day, the
total sales being only l76 567 shares
against 236 S57 shares yesterday. 1t was
notice during the day that the brokers'
OF the leadlng bear operators We're pick
ing up stocks, and it was thought that
breaks. in Sugar, Chicago Gas. Lead and
Northwest We're brought about for the
purpose of facilitating the covering move
ment In other parts of the list. The buy
ing for the short account was especially
pronounced in the case of St Paul, about
l-VVu shares having been, 1t is alleged,
taken by prominent firm. The firm
ness of the Grangers i'm the early trading
was all the more noticeable because of
the poor october statement of the North
west road the loss IN gross earnings haV-
ing amounted to $4,000. The general be-
lief that the bond issue will be heavily
oNerScflDed, and that the government will
be enabled to increase its gold reserve
by $4,000, 600 or $4,000, 600 was the main
reason for the covering movement. There
We're, however some weak spots to the
market, notably Sugar. Chicago Gas,
Reading Lead, Distillers, Cordage guar
anteed and Northwestern. American Sugar
cropped "a to 6t4; Chicago Gas, Ia to
ia; Lead, to 39a4 Distillers. y to S34;
Cordage, guaranteed, to q, and North
western, 1ss to 9It9 Sugar was affected by
the reports of poor business in fears of
congressional interference. The Chicago
Gas and Lead weakness We're asCribed to
manipulation 10y the pool In these spec
lalues, and the heavineSs of COrdage to
the closing out of an old bull account.
northwestern was sold on belief that the
directors will follow the policy outlined
by the burlington and Quincy and reduce
the dividend rate. Reading weakened on
talk of foreclosure, and Philadelphia sold
the stock down to 1858. Near the close,
Southern Railway common and preferred
moved up on a report that d block of the
securities had been placed abroad and
that the stock will be listed in London.
An encouraging feature of the situation
was the drop in sterling exchange at the
close, due to more liberal dra awings by
bankers in anticipation Of heavy foreign
purchase of bonds. The general list shows
losses of 4 to per cent. Chicago Gas lead
ing. Lead lost ia, and Cordage preferred,
3. Pullman gain rs per cent Railway
and miscellaneous bonds were weaker.
1t was currently reported in Wall street
this afternoon that a foreign syndicate
had purchased round amounts of the
securities of the Southern Railway Com
pany, partly with view of having them
listed on the London stock exchange.
Drexel, Morgan Il Co. said that such a
syndicate had been formed. but would
not give the amount of securities taken.
President Williams of the Chemical Bank
gFREr In
po syndicate or agreement, connected
with the government bond issue The
bank will not bid for any bonds. We will
furnish to depositors, who may be sue
cessful bidders, the gold they may require
to pay for bonds. We Will not get II
from the sub-treasury. ! believe the
banks generally intend to act literally in
this matter" The sales for the day ag
gregated 1l8,000 shares listed stocks, and
900 shares unlisted
The quotations at the closing We're as
American Cotton oil, 27lsc; do preferred,
72@73; Sugar Refinery, S71s; do preferred,
92la; American Tobacco. 97is; do preferred,
lOS; Atchson, T. and S. r.. 8; Baltimore
and Ohio, 66l2; Canada Pacific, 5834; Ches-
apeake and Ohio, 1873: Chicago and Alton,
145: Chicago, Il. and O., 70A Chicago Gas,
72h; Delaware, Lack. and w, l36A Dis
tillers and Cattle Feeders, S75s Erie, 1312;
do preferred n; Edison General Electric,
34ss; Illinois Central, S912; Lake Erie and
W. l6i%; do preferred, 20; Lake Shore l33;
Louisville and Nashville, 53H; Louisville
and y. A.. Z; Manhattan, lOl; Memphis ana
Charleston, 10; Michigan Central, 80; Mis-
souri, Pacific, 2Sis Mobile and Ohio, Is;
Nashville, G. and St. L., So; United States
Cordage, S3i do preferred, 157s; New Jer-
sew Central 92Iz; New York Central 80; n
Y. and N. f.. 3lA; Norfolk and Western
preferred, 2l5s Northern Pacific, A. do
preferred, 171a: Northwestern, 971s; do pre-
ferred, 1922; Pacific Mail, 224 Reading
162; Richmond Terminal, 1874 Rock Is
land 60l2; st. Paul, 59i6; do preferred. 1l9;
Silver Certificates, 631s; Tennessee Coal
Continued on Third Page.