The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-27
THE MORNING NEWS: THURSDAY, MAY p, 1897

featuring Company. 70 bid. IS asked: Sa-
vannah Brewing Company. bid, S. ask
ed.
New York, May 2s.-Money on can was
easy at 1l4di1s per cent; the last loan was
at IL per cent; and closed 1A01ls per
cent. Prime mercantile paper S2q4 per
cent Sterling exchange weak, with ac-
tual business in bankers bills, at A.S63sp
4S7 for demand, and $4S5d4.s6 for sixty
days. Posted rates. $LS6l4d4H and SASH.
Commercial bills, $4.S5h; silver certih-
Gates, 60isc; bar silver 6Oc. Mexican doll
lars. 47Ac: government bonds firm: state
bonds dun; railroad bonds were strong.
New York, May 26.-The Evening Posts
London financial cable: stock markets
opened duh to-day. The lowest prices
were touched at midday. but thereafter
there was a sharp recovery and the close
was at the best. Kaffirs were better after
dullness, and copper was strong. Gold
has again gone to Russia and l believe
that more is to so tomorrow or on Fri
day. The ignorance and misapprehen-
sion as 10 the destination of the gold may
be measured by the fact that two morn
ing journals here state their belief that
the United States is interested in the met
al. The Paris bourse has been irregular.
but the close was firm. The Berlin market
was firm
New York. May 26.-The stock market
was notably active and strong in the early
hours of trading to-day. The animation
of trading somewhat subsidized after the
noon hour. on account of the announce
ment of an additional shipment of 100000
iu gold tomorrow and on profit taking,
and some weak spots developed in the list,
which served somewhat to check the ris
ing tendency. Prices of most stocks were,
nevertheless, quite firmly held until the
close, and substantially net gains were the
rule as the result of the days trading.
10 f=l,,
sold here for London account. but they
represented nothing but arbitrage opera
tons by professional traders, the higher
level of prices here Offering a sufficient
margin of profit to invite the operation.
There was a marked broadening tendency
to speculation, many usually inactive
shares coming into demand and gaining in
price. The outside interest in the mar
ket, which first manifested itself yester-
day, was again a feature of to-day and
various commission house orders were in
evidence. Transactions were of consider
ably smaller volume than yesterday. The,
fact that the Senate is already embarked
upon the consideration of the tariff bill,
and the belief that measures taken to ex-
pedite action by that body on the bill,
will prove eflicacious, were the impelling
causes of the more cheerful view of things
to-day on the Stock Exchange. Wall
street waits upon a general trade revival
as the panacea for the Ills that affect val
ues. Traders in stocks, upon the belief
that progress toward the enactment of
the new tariff law justifies them in dis
continuing the good effect expected to &C
crue to business in general from a definite
settlement of the future conditions it will
have to do with. Improved railway earn
ings, especially from the south and south
west, are an encouraging factor. For
the third week in May the Southern rail-
way shows an increase in gross earnings
of $l8,S04; Louisville and Nashville of $16,-
40; Kansas City, Pittsburg and Gulf also
very substantial gains. On the other
hand, Wabash and Chesapeake and Ohio
showed losses. The st. Paul statement
for April was also disappointing state
ment. The decrease in net was $35, $50.
This had quite a marked effect in the
afternoon, and checked the rise i'm values
Net changes were generally a fraction less
than extreme advance, but were the rule
throughout the day. The total sales of
stock for the day amounted to 1874 651
shares, including Sugar, 1900; Burlington,
2O5OO; Chicago Gas. 1900; ST. Paul IS 400;
Western Union, II. 300; Jersey Central, 49,
600. The bond market developed aggres-
slVe strength on transactions, which were
attributed in part TO a revival of outside
interest. The gilt-edged liens were in fair
request, at advanced prices, but in the
middle grade and speculative issues the
gains were more pronounced. The aggre-
gate sales were 81 $4,000 Governments
displayed hardening tendency on a mod
crate inquiry. The sales were $4,000.