The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-06
THE MORNING NEWS THURSDAY, MAY 6, 1897.

bid. 96 asked; ]. r. King Manufacturing
Company, l04 bid 100 asked: Sibley Manu-
featuring Company. 20 bid. 76 asked; Sa-
vannah Brewing Company. - bid, IS ask
ed
New York. May 5-Money on call was
easy at l17q2 per cent, last loan at liz
per cent, closed at IL per cent. Prime mer-
camille paper, 3isd4 per cent. Sterling eN-
change, weak with actual business in
bankers bills at $4STd4.S7Is for demand,
and S4.S5$ ass for sixty days. Posted rates
S4.SSls04.S7, and $4sSa4.SSls. Commercial
bills $4.S51G4. S512 Silver certificates, 6l3sc.
Bar silver. 607sc. Mexican dollars, 4SAc.
Government bonds frmer. State bonds
were dull. Railroad bonds were easy.
New York, May 5-To-days market was
reactionary throughout and very many
stocks show a loss of point or over on
the days transactions, the gain of yester
day being for the most part lost. The
activity of the dealings was also consider
ably diminished as compared with yester-
day, the total of the shares sold between
some $4,000 less than yesterday OF to-
days sales nearly half were of Sugar and
Chicago Gas. Outside of these Western
Union was the only notably active stock
on the list. The Gould stocks. all of
them, and the Coalers were depressing in
huences in the market to some extent. the
former seeming to be totally lacking in re-
sistency, until the final transactions of
the day when they rallied fraction. There
was what looked like liquidation in all Of
these stocks and many rumors bearing on
this were set afloat TO help on the de-
cline. The turbulent rush to cover of the
shorts last night left that interest largely
depleted in to-day's market and there was
no resulting pressure to buy. There was
beside, the natural reaction from yester
days upward rush on profit taking. The
lower prices of Americans in London help
ed the decline to some extent, though not
fully to the London parity until that mar
ket had sold several thousand shares of
the leading International stocks in this
market. These were all contributary causes
to the depression But the principal mo-
tive of the selling was undoubtedly a mod
itication of the view held yesterday that
the tariff bill was assured of speedy en-
actment into law. Reports found currency
cary in the day of expressions of dissatis-
faction with the bill, by prominent mem
bers of the House of Representatives and
especially of determined hostility to sched-
ules, which are viewed with most interest
in Wall street Seeing the tenderness of
the market, the traders embarked upon a
selling movement to discount the defeat
of the Anglo-American treaty in the Sen
ate, the vote upon which was not taken
when the market closed. There was no
evidence in this of any deep-seated timid-
ity on the part of capital lest the defeat
of the treaty should lead to International
complications. 1t was rather a vancouver
of present traders which was effective in
narrow market and which was based on
a supposition that London will sell Amer
lean securities on the defeat of the treaty
The day was marked by a further decline
in the rates of sterling exchange, demand
touching $46 and sixty days $4.S53{, and
the consequent subsistence of apprehen-
sions of further gold shipments on Satur-
day, which are now considered highly i'm
probable. Rumors of an agreement by an
exchange house not to ship more gold were
denied but there were coupled with the
statement that further shipments were
not lil1ly this week. The total sales of
stock was 157,3R shares. including Tobac-
co, $500; Sugar, 1880; Burlington, $780,
Chicago Gas 5000; Manhattan, 5000; St
Paul, 10,600; Western Union, $500.