The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-16

cent. Sterling exchange firm, with actual
business in bankers bills, at $4.S7G4 STA
for demand. and 81 S55sG4.S6 for sixty
days. Posted rates. 81. S61sd4I and 81. IS.
Commercial bills, S4.s5d4.S5 A Bar silver
60c. Mexican dollars, 47l4c. Government
bonds were firm; state bonds were dull;
railroad bonds were strong. Silver certih-
Gates. 60lsQ60isc
New York, June l5.-Evening Posts ca
BILE: The stock markets were irregular
to-day, Americans being the feature.
There was a sharp rise in that market,
and good buying, but the close was under
the best The feeling as to Americans is
still hopeful, but there is a disposition to
take quick profits. Kaffirs were fiat on
Barnato's death, but the close was above
the worst, except in Paris where Barnato
specialties are numerous. The belief is
that the market viii not be greatly eff
fected, especially as 1 learn from good
quarters that all his securities were held
in the name of the firm, Barnato Broth
ers, and not In his own name. When the
last state loan was issued here, it was
commonly reported that Banato had
taken an enormous block now learn that
the report was substantially correct, but
the stock was not held in his own name,
but in the name of the firm. consequently
and inasmuch as good reports say that his
will merely provides annuities for his fam
lily, it is believed that no immediate forced
liquidation will be necessary.
The Paris bourse was steady and the
Berlin market firm"
New York. June 15.-The upward prog.
ress of prices was brought to a halt dur
ing the progress of trading to-day on the
stock exchange and earlier gains were
wiped out, leaving some important stocks
below last nights close. There was no
very obvious reason for the reaction be-
yond the general principle that reaction is
always bound to come after an advance
The long continued steadiness and firm
ness of the market have inclined the pro
fessional traders to count rather more con-
fidently upon reaction, on the principle
that the longer it is delayed, the greater
the remaining certainty that il will come.
This element worked for reaction by raid
ing special stocks and helped to influence
the more cautious to take profits under
a feeling not to overdo good fortune While
prices were at times very materially above
last nights close, later recessions brought
prices of the majority of stocks back TO
slightly above or below last nights The
prevailing dullness in the London mar
ket, owing TO the jubilee festivities, had
its effect on that market, arbitrage oper-
atoms being much restricted. Perhaps
this fact lessened the effect of the death
of the kafir king. The immediate group
OF stocks with which he was associated
timental effect was nevertheless produced
in this market The announcement of a
shipment of 100000 in gold by Thursdays
steamer was coupled with the announce
ment that none of 1t would be withdrawn
from the sub-treasury. The shipment,
nevertheless, had its effect in selling off
the market. The May trade statement
shows that Notwithstanding an increase
of $l1,O000O0 in the merchandise exports
over those of a year ago, the imports
increased over $22 900, 900, the excess of i'm,
ports being $1,359,343. Among the state
ments of imports in April in anticipation
of tariff changes are 9S, 81. 1866 pounds of
raw wool. against only about 12,O00O0O
pounds for the same period last year
and 740114,045 pounds of raw sugar, against
1868, 1856 for April last year. These heavy
balances are probably stimulated for the
most part and are bound to effect the ex-
change situation for some time to come
on the other hand, the weeks exports
from New York show an increase of 81, 902-
9S5 over last weeks and London con-
tinues to buy stocks in this market,
though in varying amounts, which is true
also of the sales. Sugar Burlington, St
Paul and Chicago Gas in the order nam
ed absorbed half the dealings to-day.
showing much narrower range of specu-
lation than for some time. The total
sales of stocks to-day were PSI, 127 shares,
IiiClUuill6 f''fUV sugar, low burning ton ana
2O,SO0 Chicago Gas; 1880 Northern Pacific
preferred; Rock Island, $500; St. PAU.
26,000 Western Union, $500
The bond market continues to exhibit
a decided degree of strength. Trading
diminished considerably from yesterdays
total, but there was mo- abatement of the
aggressive strength that characterized the
speculation for some weeks The low
prices of international lines moved very
narrowly with late profit taking, tend
ing to eradicate what gains there had
been made.