The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-20
TELEGRAPHIC MARKETS.
CONTINUED from Ninth Page)

CONTINUED from Ninth Page)
bid. 1ol asked; Eagle and Phenix Manu-
featuring Company, 9 per cent. bonds ~
bid. AZ asked; Sibley Manufacturing CON-
pany es. 10l bid. l0e asked.
Factory Stocks-Savannah Cotton ac-
tory, - bid y asked; Augusta Factory, ~
bid. So asked; Graniteville Factory l4o DO,
81 asked; Langley Factory, lOi bid, lVok
asked; Enterprise Factory common, IS
bid, 90 asked: J. r. King Manufacturing
Company. 104 bid, 105 asked; Sibiey Manu-
featuring Company, 40 bid. 76 asked: Sa-
vannah Brewing Company - bid s. ask
ed.
New York May 1s p m--Money on
call was easy at 4AGli2 per cent; the
last loan was a ~ per cent, and closed
at 1IT1I5 per cent. Prime mercantile pa
per. 3IAd4 per cent Sterling exchange
steady with actual business in bankers
bills at s4S74GAS71a for demand and a.
81 s5Is0i4 s5ls for sixty days. Posted rates,
S4S7 and 4SSiz Commercial bills, &.s512;
silver certificates, 6od60l2c. Bar silver.
e0l4c. Mexican dollars 4T8sc. Government
bonds easier. State bonds we're dull Rail
road bonds were firm.
New York May 19.-The frmness shown
by many standard shares in the rather
stormy vicissitudes of tO-day's stock mar
ket was quite remarkable considering the
existence Of two such centers OF depres-
sion as New Jersey Central all day, and
Chicago Gas in the late dealings after the
receipts OF news OF defeat in the Illinois
legislature Of the bin permitting consOli-
dalton of the gas companies. To estimate
the extent of the influence that might have
been exercised upon the general market
by these two stocks. il must be considered
that they absorbed over $1,000 out OF to-
tai of 10000 shares dealt in on the eX-
change for the day, Chicago Gas alone
III. fal rrrff oh
proportion of these sales were made in
the last hour and a half of trading and
enormous blocks of stock were unloaded
with precipitated eagerness, which had
been bought in the confiding conviction
that the consolidation bill would succeed.
The price, which had advanced point in
the morning tumbled headiong 33s points
with no check to the decline. until the
lowest point was reached, when there was
a feeble rally. The decentralization in this
stock was in a fair way 20 break the
whole market and did, in fact, carry
prices generally below the close last night
and wiping out the gains of the early part
of the day. But, final rally in the market
brought many prices back near TO last
nights close or fractionally above it. New
Jersey Central was a center of depression
all day and sold off 29s with only a frac-
tiOnal rally at the close, carrying with It
Delaware and Hudson, which lost rs.
Reading and Lackawanna, however, show
ed net gain on the day. Notable de-
clines in other stocks were, a point in Su-
gar and Manhattan, and IA in Tobacco,
and 15s in Tennessee Coal and Iron. There
were other losses In the list. but they were
small and many standard shares were on
a level with last nights closing. The days
trading though still narrow, was marked
by a notable undercurrent of strength,
based partly on the apparent termination
of the war between Turkey and Greece,
and partly to a conviction arrived at by
public opinion in the street by its own
processes Of reasoning that the admins
tration at Washington had determined
against any radical steps in regard to
Cuba. The outward gold movement is no
longer Wed with such marked apprehen-
sion as at FIRST on account of the evil
dences that il will be restricted to moder-
ate proportions. There was a slight har-
dening tendency to exchange during the
day showing that bills were being slowly
absorbed in spite Of very light demand
The gold export for the week is, however,
expected 10 be small. A rise of ia in the
price of st. Louis and San Francisco first
preferred, on rumors of an approaching
dividend declaration, was one :of the fea-
lures of the day. Norfolk and Western
preferred also rose IL. but lost most of the
advance. The total sales of stocks for the
day amounted to 17S.S6l shares, including
American Sugar $500; Burlington, 1850
Chicago Gas 81, 700; Delaware and Hudson
5000; st. Paul, 1000; Tennessee Coal and
Iron, $500. Railway and miscellaneous
bonds were without essential change IN
value, although decidedly firm undertont
was apparent Business was moderate
with operations largely restricted to the
prominent issues. The sales were 1881 600
Government bonds showed an improvine
tendency in the forenoon but, subsequent
~ eased off. The transactions aggregated
S95O