The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-07-07
FINANCIAL.

FINANCIAL.
London, July 6.-Bar silver, 81 7-16d
Consols, 1872 for money and 113 GLIB for
the account Paris advices quote 3 per
cent. rentes l01 francs, 67lsc for account
New York, July 6.-Money on call was
at per cent, and at the closing was
offered at per cent. Prime money paper,
5q51s per cent Bar silver, 6S&4c. Ster-
ling exchange, weak, with actual business
in bankers bills, at $4.Sd4.S7k for sixty
days and $4.SSd4.SSh for demand. Posted
rates, $4S71Rq4.SSlz. Commercial bills,
steady state bonds were dull: railroad
bonds were firm. Silver at the board was
dull.
New York, July g. noon.-Erie. 14a4;
Shore. lag; Norfolk and Western, pre-
ferred, 91z; Western Union, 32b; Southern
Railway, common, So; Southern Railway,
preferred, 25%; American sugar, 1854; Bal
timore and Ohio, II; Canada Southern, 46;
st. Paul, 747s; Rock Island, 6294; Della
ware and Hudson, 124; Delaware, Lacka-
wanna and Western, 49, Manhattan, 96A;
Michigan Central. "a; New York Central,
94%. Speculation quiet, but weak.
New York, July 6.-The opening of the
stock market was characterized by Arm
ness, London having reported further
advance in American securities there. The
early gain was equal to AGl per cent,
nearly every active stock on the list par
ticipating in the upward movement, A re-
duction in the posted rates of sterling eX-
change of NC which renders gold exports
out of the question, unless foreign ban
kers are willing to pay heavy commits
sion. was the most favorable development
at this time The firmness was short lived,
however, and soon after the opening the
market broke u to "a per cent. under the
leadership of Chicago Gas and Sugar, the
former dropping to Sc, and the latter 107l4.
Sugar was depressed by the reduction of
MQ3-16 cent per pound in refined. The
Changers were then taken in hand and
soon lost Ad1h per cent. Manhattan, Jer
sey Central and Louisville and Nashville
lacked support, and scored material losses.
AS of late the decline brought In orders for
European account and according to good
authorities foreign houses bought any
where from 1900 to 10000 shares during
the morning session. Speculation during
the afternoon was quiet for a time, but in
the last hour the traders bid the market
up all around. They were influenced main
ly by the steady buying for London &C
count although the news from Chicago
late in the day was looked upon as more
encouraging, 1t being stated that the gold
men had been able TO make some impress
sion on the silver ranks and that the plat
form to be adopted would probably be less
radical than at first supposed. The latter
rumor led to fairly large covering of shorts
which stimulated the upward movement.
In the afternoon advance, Sugar, Chicago
| Gas, st. Paul, Louisville and Nashville,
| General Electric and Pacific Mail were mo-
! taby strong. Speculation left off firm, with
prices anywhere from 4 to y per cent.
| higher than on Friday last Rock Island
| lost q and Jersey Central, IL per cent. The
| total sales were 2O4, 106 shares, including
| $1,000 Sugar, 2S 700 st. Paul, 1890 Burling-
ton and quincy, and 1880 Chicago Gas.
| The bond market was quiet and firm in
| tone. The sales were only 100000.
New York Stock List, Closing Bids,
| Stocks and Bonds-American Cotton Oil,
| 1OA; do preferred, sos; Sugar Refinery,
1OS7s; do preferred, 1OO1a; American Tobac--
CO, 6O%4; do preferred, 95; Atchison, T. and
| S. F., IA; Baltimore and Ohio, 1875; Canada
| Pacific 81; Chesapeake and Ohio, 1413; Chi
M; Chicago Gas, 57%; Del, Lack. and
West, 1856, ex-div; Dis Cat Feed, 14B;
Erie, 10; do preferred, "a; Edison General
Electric, &c; Illinois Central, SO; Lake Erie
Shore. 147; Louis: and Nash. 4sA: Louis.
and N. a. IA; Manhattan, 961z; Memphis
and Charleston. Is asked; Mis-;
souri, Pacific, 20A;, Mobile and
| Cordage, Al; do preferred, 81; n. J. Cen
| trail, 1909; N Y. Central, 953s; N. Y. and
| N. E., As asked; Norf. and West. preferred,
| IFS; Northern Pacific, 81; do. preferred,
Pacific Mail, 2115; Reading, 1874; Rock Is
land, 631s; st. Paul, 75A; do preferred, 12112;
| Silver Certificates, 60; Tenn. Coal and Iron,
| 2O%4 do do preferred, 80; Texas Pacific. "a;
! 634 do dc preferred, 1875; Western Union,
| S2l5; Wheeling and L. E., S7S; do do pre-
| ferred, 31ss; Southern Railway IS, 0S1s;
! Southern Railway common, 3; Southern
| Railway preferred, 2l$.
! State Bonds-Alabama A, 1903; do B, 105;
do C, 100 asked Louisiana stamped As,
95A bid; North Carolina As, 100 bid; North
! Carolina IS, 120 bid; Tennessee new set Ss,
! so; Virginia IS, preferred, bid; Virginia
Trust Receipts 5; Virginia Funding Debt,
| Sc; South Carolina AIS, 102.
| Government Bonds-United States Is,
registered, 1885; United States As, coupons,
1O9; United States rs, registered, IS bid;
United States new As, registered, 1169s;
United States new As, coupons 1858.