The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-01

S4S2hQIS2 Silver certificates, 59iz060c.
Bar silver, 59iac. Mexican dollars, i6Ac.
Government bonds were firm; state bonds
were dun; railroad bonds were firm.
New York, Nov. 3o--The Evening Posts
London financial cablegram says: The
strength of consols was the only feature
in the stock market here to-day. They
touched the highest price on record. The
rise was due to the scarcity Of stock, to
bear purchases, and the small government
buying. Americans opened DISAPPOINTING
ly. At the same time The tendency here at
the moment Is rather co buy on each fall
than sell Business generally was restrict
ed by the interruption of cable service
with the continent owing 10 the storms.
New York, Nov. 30.--The factors in the
days stock market were the statement OF
the earnings in October OF TWO OF the
great railway systems of the country
Both statements made "a remarkably
strong showing, but that of Burlington
had been discounted by more 9etive
speculation and the tone which had pre-
coded IL some time.
Publications for some time have grossly
exaggerated the propositions OF the IN
crease. AS a consequence there was some
disappointment in speculative news over
the Burlington statement. In the hn9l
hour prices of the group steadied an
strength with the general market, hnode
Island leading with a net advance OF IA
per cent, on reports that the companies
refunding scheme had been perfected and
the sale of the first block of new 4 per
cent bonds were concluded. The October
statement Of the Pennsylvania system,
with it's increase in gross earnings Of
$500, coo, and in net of S453 COO, was regarded
as strongly favorable and as rejecting a
general Improvement in business.
The stock OF the Pennsylvania rose rs
under It's influence, and all of the trunk
lines showed marked degree Of strength,
New York Central and Canada southern
advancing from to 2 points. Although
the Burlington statement compared with
a very strong month last year, and with
one less business day in the month than
last year, and although both the gross and
net earnings fell slightly below those OF
September of this year, the falling of
from the record month Of September was
small. There was a very marked Increase
in the operating expenses, both for the
Burlington end the Pennsylvania, amount
ing to $40 $50 In the case of the former,
and 1921 600 In the case Of the latter, re-
f1ecting the arrearages of the outlay Tor
maintenance, which exists generally IN
railroad property all over the country.
The Erie and Lehigh Valley also had very
favorable statements for October, but In
both cases heavy increases in operating
expenses absorbed a large proportion OF
the Increase In gross earnings
Sugar was again very active, advancing
Pic Northwest and Omaha gained a
point Consolidated Gas is 11zc higher and
New Jersey Central gained lhc. Other
wise net gains In the active stocks are
confined to fractions and there Is a fair
sprinkling of small losses through the
list.
The sales of silver certificates and ex-
change for 1900 ounces at from 59A to
5924c were a feature of the day. Bar sill
yer sold here ct 59lac, price which has
not been equalled since July %.
The bond market showed some activity
and strength IN higher grade issues. To
tai sales 81, $4,000, United States old As
registered advanced "a bid.
Total sales Of stock, 2l9 100 shares.