The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-10

bid. lO2 asked Enterprise Factory S. 100
bid, l0l asked; Eagle and Phenix Manu-
featuring Company, per cent. bonds, 10
| bid, AZ asked; Sibley Manufacturing Com
pany 6s, 10l bid. 102 asked
Factory Stocks-Savannah Cotton Fac
tory, - bid, 25 asked; Augusta Factory.
so bid, So asked; Graniteviue Factory, l45
bid 151 asked; Langley Factory, l04 bid,
| 1854 asked; Enterprise Factory, common,
| SO bid, Sc asked; ]. r. King Manufacturing
Company. 104 bid. 1O5 asked; Sibley Man
ufacturing Company, 20 bid, Is asked; Sa-
vannah Brewing Company, - bid, IS ask
| ed
New York. June g. p. m.-Money on
call was. easy at 1d112 per cent. the last
| loan wac at ! per cent Closed offered at
l per cent. Prime mercantile paper, 3iaG4
per cent. Sterling exchange easier with
actual business in bankers bills a $i.S67sG
| 4.S7 for demand, and S4S5%G4.S6 for sixty
| days. Posted rates, AS6l2d4.S and Sass.
Commercial bills S4.S5i4. Silver certificates,
| 60u602sc. Bar silver, 60c. Mexican dollars,
474c Government bonds firm State bonds
were dull Railroad bonds were firm.
New York. June 9.-The Evening Posts
| London financial cahlegram says: AT the
settlement to-day more employment was
found for money; the speculative account
| having increased slightly. Rates. how
ever, were moderately low, averaging no
| more than 21a to per cent. on Americans.
| The continued firmness of Grand Trunk
/ and of other Canadian stocks forms
| leading feature. The Paris bourse opened
at an improved tone, but weakened at
| the close. The Berlin market remained
| comparatively firm"
New York, June 9.-The stock market
proclaimed to-day with extraordinary en-
| phasis the vitality and firmness of the inn
| provement in values which has been
| achieved in the last two weeks. The
| bears were exhausted in partially effective
a an
| which they had to abandon in face of the
| strong rally of the last hour, which car
| ried the whole market with an embracing
| surge to higher plane, wiping out the
| loss which the painstaking efforts of the
| bears had accomplished earlier in the day
| and driving them to cover losses by hasty
| purchases on the fast rising scale of
| prices. The dealings in tie last hour
! were characterized by great animation.
| and the volume of sales, which has been
! small for two hours previously, was
| brought up to a total considerably in ex-
| cess of that of yesterday, which was the
| largest since the present period of activity
| in stocks.
To-day's transactions in Sugar also were
| about half as large as yesterday, though
! the days sales in that stock stiff footed
| up the enormous aggregate of over $4,000
shares. ST. Paul and Burlington came
| next in the order named. There were nine
| stocks in which the dealings exceeded TO-
| 600 shares and some thirty five in which
| the sales exceeded 1000 shares. This in
| dicates greatly improved distribution of
| the dealings. The force of the rally is
| probably best Interpreted as the assertion
| of confidence in the general outlook for
| business and the refutation of the theory
| that marked reaction in the market was
! imperative. Ii was this theory coupled
| with revived rumors of crop damage in
| the northwest that melted some traders
| To 10 cl,O sole f1-
| morning. The movement to cover devel-
oped how small a supply of stocks was Of
| fering. The selling also helped the bears
| to some extent.
Contradictions of earlier reports of dam
| age to crops, reflected in the decline in the
| wheat market, served to stiffen the prices
! of the Changers sufficiently to put the
| shorts to rout. There was large buying
| also on the improved prospects of the
| early settlement of the tariff question
the demand embracing a wide range of
| stocks. The special strength shown by
number of the industrial stocks aided
| the advance.
The low-priced shares of reorganized
| companies is probably attributable to the
| return from Europe of a prominent finan-
cier, whose influence has been paramount
in these reorganizations and who has be-
fore this enlisted large foreign capital in
| American properties. The strength of
| Sugar, the leader, was also factor In
| the improvement The early declines were
! for the most part fractional, extending to
about p in the Changers point in Sugar.
! Ia in New Jersey Central and ia In
| Cleveland, Cincinnati, Chicago and st.
Louis, with only partial recovery. The
| rally extended to over a point and left
| a substantial net gain In the cases of the
| Changers, Jersey Central, Delaware and
| Hudson and the Reading issues, Manhat-
| tan, Western Union, Northern Pacific pre-
| ferred and Tennessee Coal and Iron
/ Sugars rally covered 215 points
The total sales of stocks were 226. 551
shares, including Tobacco, Il, 500; Sugar,
| 1880; Burlington and Quincy, $4,000; Chi
| cago Gas. $500; General Electric, 100;
| Louisville and Nashville, 5000: Northwest
| $500 Northern Pacific preferred, 1850:
Reading. 2S,7O0; Rock Island, 10000; st.
Paul, 24,3O0; Western Union Telegraph
| Company, 1920.
! Tit bond market was less animated, but
a good undertone continued apparent.
with some of the reorganization issues
| improving materially. The demand for
foreign account was fairly moderate The
| sales were $1,l67,0OO. Governments ruled
firm, with transactions light. The sales
were $4,000
Clos'ne Stocks.
Atchison uRlN. Y. g. ~ E...1
| Adams FIX $50. .149 ont q West Az