The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-05-26
FINANCIAL.

New York, May %, p. m.-Money on
call was steady at 1q11s per cent; the last
loan at ~ per cent. Prime mercantile pa
per- 4q5 per cent. Sterling exchange
steady with actual business in bankers
bills at 81. S614 S61a for demand and $4.S4A
"A S415 for 90 days. Posted rates, $4.85 and
%.8715. Commercial bills, $4.S21a04S3. Sill
yer certificates, 5714d5Sc. Bar silver 571sc.
Mexican dollars 45l4c. Government bonds
We're strong. State bonds were dull. Rail
road bonds were firm.
New York, May 25.-The Evening Posts
London financial cablegram says: The
EPSON races and the coming holidays
made all the stock markets here stagnant
and featureless to-day. Americans were
steady and quiet. The London statement
that the Bank of England had reduced
the buying price of American coin was in
correct The London discount rate fell to-
day to 23s per cent. This continued weak
ness is partly caused by the dearth of
American bills, but it is believed that the
New York money market may yet har-
dem"
New York, May 25.-It was day of ma
neuvering for position between the oppos-
ing elements of traders on the stock eX-
change.
The bear faction took heart and tested
the market a various points, with a view
TO dislodging some of the stocks which
were bought yesterday in the excitement
over the supposed victory in Cuban waI
ers The complete discredting of yes
terdGy's rumOrs made fhe market seem
very vulnerable this morning. Declines
for Americans in London added to this
appearance and there was selling for Lon
don account in early dealings in place of
the rather urgent buying which was
feature of yesterdays market. The COM
pletion of the settlement on the London
exchange apparently ended the demand,
off cd To
ing short interest. But the early reac-
ton did not go far and was checked by
the vigorous support and stimulated rise
of a number of the leading specialties.
A number of Trunk lines and Coalers
shared in this strength, but the railroad
list, as q. whole, continued very sluggish
and did not respond readily to the imme-
date impetus which it was sought to i'm
part by this lifting of special stocks. The
demand proved very light and prices
dropped No general liquidation was in,
sured, however. and there was some GOV
ering at the decline. so that the market
rallied and closed dun and firm.
In the railroad list some of the Wander
bits and the Coalers closed higher. Other
wise net losses were the rule. The issu-
ance of the Presidents call for 1000
more volunteers was made some use of by
the bears in their afternoon raid. There
was not much doing in the bond marker,
but prices were firmly held. Total sales.
s., 10000 United States old As registered
advanced 4 and United States As coupon
1 per cent. in the bid price The new As
were bid up q, but declined again.
The total sales of stocks to-day We're
$40. 600 shares, including Atchison pre-
ferred, 9,075: Chicago, Burlington and
Quincy, 1925: Louisville and Nashville TO-
720; Metropolitan Street, Railway, Is $50,
Reading first preferred 500; Missouri Pa
clhc, 1925 New York Central. 172ll;
Northern Pacific preferred 1885; Rock
Island, 11.1S0; St. Paul. 1880; Southern
Railway preferred. $3.50; Union Pacihc, 49,
$40; American Tobacco, 81, 233; Chicago
Great Western $3.50; Peoples Gas, 80, 1892;
Sugar, p .S59; United States Leather pre-
ferred, 1850.