The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-06-25

New York. June 24.-Money on call was
steady, 2q4 per cent; the last loan was
at PA per cent Prime mercantile paper,
SQ432 per cent. Sterling exchange steady,
with actual business in bankers bills at
"a SSg4. $50 for demand, and at $4.S5S4 "a. IS
for sixty days. Posted rates, 81. S612Q4. 81
and s. SO. Commercial bills, S4.S5A. Silver
certificates, 60tsQ62c. Bar silver. 6055c;
Mexican dollars, 4Slsc. State bonds were
inactive. Railroad bonds were irregular.
Government bonds were steady.
New York. June A.-The weekly bank
statement shows the following changes:
Surplus reserve. decrease. "a ,SO5. 400; loans,
increase, $5,s5S3O0; specie, decrease, $,154,-
500; legal tenders, decrease $S42, 200; depos-
its, increase, $1,2S4. 500; circulation, de-
crease, $500. The banks now hold $25,6S7.-
500 in excess of the legal requirements.
New York, June A.-The bear operators
among the professional traders became
somewhat discouraged over the events of
to-day's short session and engaged in
something like a scramble to cover OUT
standing short contracts in the closing
dealings. An unfavorable bank statement
had been counted upon by this element
to further a decline.
To-day's statement, while hardly favor
able. was not as weak as had been fore
told, and when the bears started to cover
shortly after Its publication they found
that it had brought slight offerings to
sell. Prices were marked up quite sud
denly in some cases to the highest point
of the day, making the closing buoyant
in tone
The banks lost In cash reserves was not
as large by over 81 100000 as had been
estimated. and the further liberal expan-
sion of more than 100000 in loans In
dictate the faith of the banking authori-
ties in the money outlook. Who are the
borrowers of this large amount of money
is as much a mystery as was the in
crease last week
1t has certainly not gone into stock
market speculation during the week One
supposltion is the gold that has been
going abroad goes in the form of actual
loans to foreign Institutions. This would
help to explain the mysterious action of
the exchange market in the face of the
gold shipments, which has failed to re-
fleet any yielding under offerings of bills
against the shipments.
Inc strength in to-dayS stock market
centered in the Vanderbilt group, New
York Central Northwestern and St. Paul
and Omaha rising from z5s to points
The simultaneous rise of 12s In Union
Pacific revived rumors of trans-Conti-
mental railroad combinations. The arrival
in this country of Cornelius Vanderbilt
and the strong statement of New York
| Central for the fiscal year were the pre-
sumptive grounds for the strength in this
| group. The Changers, the trunk lines,
particularly Baltimore and Ohio, and, in
fact, the railroad list generally were
| strong throughout. There was weakness
at one time in steel and WIRE Sugar and
| Tennessee Coal Steel and Wire did not
rally strongly, but other stocks, practi-
/ cally without exception, closed at the
best and at notable net gains
Inc bond market was quiet and yield
| ed at some points. The volume of bust
ness in bonds has decreased somewhat
during the week, but prices in the main
were pretty well maintained. United
states Is declined a point the new IS q.
the 5s and old As registered y, and do
coupon a in the bid price
The total sales of stocks were 1911, 400
shares including Atch1son preferred.
900; Manhattan, $500; Metropolitan. 5000;
| New York Central. n,774; ST. Paul, 10, $50
American Steel and Wire. 1880; Brook
| lyn Transit $3.50; Continental Tobacco.
| 1885, Sugar. 1860.