The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-30

New York Nov. 29.-Money was easy, at
l1an2 per cent; the last loan was at lhM2
per cent Prime mercantile paper, Sl2.
Sterling exchange firm, with actual bust
ness in bankers bills at 81. S57sG4.S6 for de-
mand,, and at "a. SS4 for sixty days; post
ed rates, 81 S4d4 81; commercial bills, As2la
al .S2M. Silver certificates. 59d59Rc. Bar
silver, soc. Mexican dollars, 46hc. Gov
eminent bonds were strong; state bonds
were strong; railroad bonds were strong.
New York, Nov 29.-EVenIng Posts Lon
don financial cablegram, says; THE stock
markets were quiet to-day as whole, but
consos were still rising. Americans he'd
a steady opening and became iirmer, but
sagged off al the close. The tone, how
ever, was better than 1t had been for days
past. The 100000 pounds of India treasu-
ry bills have been taken In six months pa
per at two pence over 224, but the money
market Is easier The Paris bourse had a
dull opening, but closed firm"
New York, Nov 29.-There was an accu-
mutation Of commission house orders in
the market at the opening this morning,
which had come In over Sunday, as re-
suit displayed by the stock market on sat
urday. The quotations were up on Lon
don exchange before the opening here As
a consequence the market opened with
quite an animated buying movement and
an advance of marked fraction along the
line. But the buyers of Friday and sat
urday Immediately set about realizing
their profits, and the advance came TO an
untimely end. The motive Offered for the
selling was the Withholding of the decis-
ion of the Nebraska maximum freight
rate case by the supreme court.
There was occasional rallies during the
day, Sugar mounting strongly upward,
after a preliminary decline to the extent
of almost three points. There was very
heavy speculation In this stock during the
day, sales amounting to one-third OF oil
sales, or over 100000 shares, and its price
closed unchanged from Saturday.
There was some buying for the London
account on the decline 10 cover contracts
made In London at the higher level, and
this also helped to steady the market; The
early weakness soon overlook, It, and was
the prevailing tone for the balance of the
day, net declines reaching to near point
In many leading stocks, and exceeding that
I'm special cases Manhattan was marked
ly weak all day, and suffered net loss of
~ per cent. Peoples Gas also developed
late weakness and lost nearly point on
the day. The Changers were quite con-
spicuous in the decline as being most i'm
mediately interested in the Nebraska
freight law.
AS a result of the lively realizing move
ment and the active speculation in Sugar,
sales of stocks ran up to nearly 2OJ,OOl
shares before noon, a figure In excess OF
any to the days trading for several weeks.
The continued strength of the Sterling
exchange market attracts much attention
In view of the status Of the International
balances. Posted rates were advanced 12c
for both long and short Sterling There
is a feeling that the Investment buying OF
long exchange, the leaving of funds due
on balance in interest abroad and the ar
rivals of gold at San Francisco from Aus
count for the strength of exchange, and
that there is much heavier selling of high
class American securities by European
holders for transfer to this side of the
water than on the surface appears.
The very heavy increase in the loans of
clearing house banks, amounting TO over
$4,000 600, as shown i'm Saturdays bank
statement, Is also being closely scrutiniz-
ed. The explanation that the increase was
connected with the Union Pacihcs pay
ment to the government does not entirely
cover the grounds, as the expansion of
loans previous 10 Nov. 20 was about suffi-
cient to account for that operation and
was attributed TO It, Saturdays statement
seems to Indicate that the payment TO the
government, which was left on deposit In
the banks, had also been Immediately re-
placed in loans. AS the Union Pacific re-
Organization was supposed to have al
ready secured all needed funds before last
Monday sSpayment to the government, II
is difficult to account for this big absorb
ton Of money, in view of the known con-
dition of the money market, demand fol-
money being very dull in ell departments
The bond market was quite active and
broad and prices were higher in almost
every case. Total sales, 81 10000. United
States old As, regular are u higher bid; the
5s "a higher bid, and the new As, y higher
bid. There was sales Of the new As, cou-
pom, at 1854, the highest on record TOta
sales of stocks were 800 100 shares
New York Closing Stocks
Atchison ,.,... 12Sst p. & Omaha 761