The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-16

actual business i'm bankers bills,
at %.S5A for demand and for
$ts23s0D4.S25s for sixty days. Posted rates,
A.S313Q4& and $4.S6l5N4.a. Commercial bills
A.S213. Silver certificates, 5712GJ5Sbc; bar
silver, SIC; Mexican dollars, 45lAc. Gov
eminent bonds easier; state bonds were
dull; railroad bonds were strong.
New York, Dec. 15.-The Evening Post 3
financial cablegram says: The settlements
have been satisfactorily concluded and the
stock markets here were generally good
to-day, temporary dear money having no
effect. feature was the rise in Eng
fish rails on the belief that the engineers
strike Is about settled. Americans were
good and closed near the best, although
the support here is almost entirely pro-
fessional. st. Paul was especially bought
at the close.
New York Dec 15.-The directors of the
Southern railway have declared dividend
of 1 per cent. on the preferred stock, pay
able Jan. 20.
New York, Dec. 15.-To-day's market was
largely professional. and in the contest be-
tween the bulls and bears, the former en-
listed themselves under the banner of the
Coalers, and the latter made the local
traction stocks their main resource. The
fortunes of the battle shifted several
times during the day, and in the middle of
the afternoon the bulls seemed to have
gained a decisive advantage. the earlier
marked losses in some special stocks hav-
ing been almost entirely wiped out and
the bears apparently driven 70 cover.
In the last hour of trading, however a
large number of loans were suddenly call
ed, and in replacing them the call loan
rate stiffened sharply to 4 per cent, at
which rate large amount Of money was
placed. This Induced liquidation, especial
" IN stocks which yielded a profit on the
days advance. The bears, thus encour-
aged, renewed their attacks on the spe-
cialties which had engrossed their atten-
ton all day and uncovered stop loss or
ders on the way down. As a consequence,
the tide of battle was turned compile tely
and victory lay with the bears A small
part Of the days gains were left In some
Of the stocks which had shown most early
strength. but other leading shares early
gains were replaced by late losses. The
scarcity Of money is due 20 operations
looking to the payment tomorrow of an
installment of about SS.5000 900 on the Union
Pacific sale. The previous payment on this
account, amorI ting to over S29000. 000 has
been left or 81. sit in New York banks
but to-morr = = payment will go direct
into the treasury and be removed from the
money market. Two additional payments
Of an equal amount remain 10 be made
one on Dec q and one on Jan 8. and this
viii 60 directly Into the treasury. The
payment by the government on Dec. q oil
the maturing Pacific bonds. which amoun
70 over $29, 00,000 will be made by checks
presumably on the New York deposits &
the governments creditors. The movement
Of currency continues from New York thii
week. indicating a stil further decline il
New York cash reserve. The tone o
sterling was som What easier but did 40
respond IN a marke q degree 20 the harden
ing OF the money market.
Atchison preferred was up over q poin
at one time The rise above par Of Bur