The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-09

Americans and Argentines. The tone Of
the Americans was entirely due TO New
York support There was a good feeling
dealers that Secretary Cages currency
plans had little effect. Of course Il is felt
that II his scheme for an issue of 212 per
cent bonds repayable In principal and in-
terest IN gold coin, is carried through, a
great stride viii be made towards currency
reform. Prices closed &C the best South
ern Railway, preferred, was especially
good. Silver was fiat, on the announce
ment that the Indian government win Of
fer next week 20 lakhs Of bills when only
10 was expected The Paris markets We're
irregular, and Berlin was firm.
New York, Dec. S.-Ihe stock market
opened this morning with a tremendous
show Of animation and vigorous upward
tendency, and gains became uniform pref
ty much throughout the list It was evil
dent that the strength displayed by the
market yesterday had been brought about
by orders TO the commission houses to buy
stocks.
There was also buying for London ac-
count early IN the day, the advances here
in prices falling 20 attempt arbitrage bro,
kers to sell. Their purchases of ST. Paul
was large, and they also bought Union
Pacific, but there was sales Of Louisville
ana Atchison for London account. Sugar
was the one exception in the strength at
the opening but its loss soon Widencd
and heavier liquidation i'm the stock set In,
offerings being very heavy and active sup
port being of no avail to recover its losses.
Yesterdays rumor of O 70 per cent. divi-
dend was dlscredited to-day and yester-
days gain was in consequence completely
wiped out before the announcement OF the
regular dividend. The stock was feverish
all day closing at q net loss Of 44sc Total
sales nearly 10000 shares.
Consolidated Gas was also market for
the reactionlsts, and dropped at one time
AZ points. The result was that the mar
ket was kept unsettled all day. When the
general advance came to a stop. dullness
interviewed ana there was frequent rallies,
.atsItf In, hs ffnr n M e. n
stocks We're at the best, but the final drop
in Sugar again weakened prices all around
and left net gains confined to fractions in
al important stocks all through the list.
Union Pacific was heavy on account of
the steps taken by the government TO
qualify as bidder at the Kansas Pacific
sale.
other stocks inclined to hcaviness was
Western Union Manhattan Metropolitan
Street Railway and New York Central.
Southern Pacific continued the advance
mOrs of an approaching dividend, and rOsa
al one time "a per cent. Tobacco also de-
veloped late strength, but reacted before
the close.
Cleveland. Cincinnati. Chicago and st.
Louis enjoyed the benefit Of a favorable
statement Of earnings for the fourth week
in November The activity displayed by
the bond market was quite remarkable,
sales for the first hour approaching Si,75O.-
coo, and il is breaking the record for one
hours business.
There was some decrease in activity
later in the day, but the tone Of the mar
ket continued strong and prices of a num-
Der Of bonds of the middle grade moved
up from one 10 two points Some OF the
high grade bonds showed heavy gains.
Total sales A,250OC0. United States old
As regular declined Il and coupons bid
but the IS rose Ne, but the new As, cou-
pons, sold at 81 49, which is higher than
ever before.
Total sales Of stocks to-day were 1853
shares.
New York Closing Stocks.
Atchison ........ 1884 do pref 142