The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-08

vannah Brewing Company - bid IS ask
ed
New York, June Mooney on call was
easy at Ia per cent. to IL per cent; the
last loan was at IA per cent, and closed
at l per cent. to ~. Prime mercantile
paper, Sisa4: sterling exchange steady.
with actual business in bankers bills, at
MA Tor demand, and S.S5st0l4.S sc for
sixty days. Posted rates, 81. S6ik6l4.S7 and
4.SSEe. Commercial bills, $i.S5h; silver
certificates, 609sc; bar silver, COO; Mexican
dollars. size. Government bonds We're
hrm; state bonds were dun; railroad bonds
were firm.
New York. June THE strong upward
movement of the Changers, which was the
feature Of che market during all of last
week. received some check to-day on ac.
count of rumors of damage to the corn
ana other crops In the northwest py the
bad weather Burlington and St Paul
the leaders of the group receded some
what IN value In consequence and the mar
Ket was more or less adversely affected.
Northwest also lost a fraction The
dealings in the two leaders, especially
burlington, We're quite heavy, but strong
support was forthcoming for them at the
lower leVel. indeed, st. Paul rose at one
tlihe traction above Saturdays close.
me reaction In Burlington, and at times
IN other special stocks, due to influence
operating Individually upon them. did not
auect the strong undertone of the market.
mere was nothing like general reaction
nor general selling toward a lower range
OF the values. Rock Island was the strong
element In the Granger group and was an
exception In showing a net gain. The mar
ket lost nothing of the broadening ten
dency which increasingly characterized IL
last week. and the dealings were well dis
trlbuted and the buying good all through
the general list. The heaviness In indi-
Vidual stock was due 10 special causes
and this worked a decline on the market
from time to time. Commission houses
were again buyers for outside customers
ana the arbitrage brokers were also In
the market although the London ex-
change was closed in Observance OF tho
Whitsuntide holidays. These brokers
bought the international stocks apparent
~ IN the confidence that they would be
able TO dispose Of them In London when
trading Is resumed there tomorrow. This
buying was indicated by the strength in
LOUISVILLE and Nashville. the Northern Pa
enc stocks and Atchlson preferred The
fact that there was no announcement Of
shipments of gold by to-morrow's steam
er helped to sustain confidence In the mar
ket. The bears worked decline in South
ern preferred of IA on the report that the
proceedings will be had to test the
consolidation under a state law forbitg-
nus AHN absorption OF competitive line
by railroad line. The stock recovered
almost all the loss Western Union was
sold down on revived rumors of dividend
reduction by the executive committee
which Is to meet tomorrow. But the loss
was more than recovered, the stock gain
ing net fraction. The strength Of the
Gould group was no small factor in rally-
ing the market from the earlier decline.
so that small net gains were the rule al
the close. Manhattan was notably strong.
rising 29s after a decline of H.
The total sales OF stocks for the day
amounted to 2tl,257 shares. including
American Tobacco, $500; American Sugar
refining, 2l,900; Burlington and Quincy. rs. :
600; Chicago Gas, 1880; Louisville and
Nashville. $500; Manhattan Consolidated.
1900; Northwestern, 500; Reading. 5000.
Rock Island, iS,l00: ST. Paul, 1920; West
ern Union. 400; Southern Railway. 800,
New Jersey Central, S,100
The tendency OF prices in the bond mar
ket continue to be generally upward. but
some speculative issues Jagged under she
influence OF realizing orders. Considerable
animation was displayed and round
amounts of prominent mortgages chang
ed hands al improved values. The pur-
cbases for continental accounts we're very
heaVy ana embraced most OF the principal
securities In the international market. Inn
provement of TO per cent was register
ed In number Of lines, with the middle
grade bonds recording the extreme gains.
The sales were $2076, 900. Governments
were quiet, but generally firm The trans
actions were $4,000