The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-10-18
STOCKS AND BoNDS.
Before the Close some of the Early
Gains We're wiped out.


Gains We're wiped out.
New York, Oct. 17.-There was short
lived demonstration by the bulls In the
stock market to-day, but before trading
was suspended the early gains We're large
ly curtailod and In some cases more than
wiped out.
The strength was attributed TO various
causes The temperance this week upon
the floor of the exchange of several OBJ
orators who took large part in last
springs big bull market and who have
been away on long summer vacations, gave
some thing of a nllD To bullish sentiment.
The quiet tone of the money market yes
terday I'm the face of opera lions incident
to the change OF old Central Pacific Sc
curities for new encouraged some seuti-
mcnt for rise, There We're one OF two
stocks in the list which were notably
strong from individual causes, which were
rumored, but not authoritatiVcly disclosed,
and which helped to sustain prices. Among
these were Pullman and Great Northern
preferred, although the latter more than
lost the early gain, The Baltimore and
Ohio stocks were conspicuously strong,
the common rising an extreme pa and the
preferred 2. LaClede Gas continued It's
advance and reached as high as 80
The Changers, Louisville and Southern
day, apparently by pool interests The
public was not in evidence at any time
during the day.
Cail money continued at per cent. or
below I'm spite of the fact that many banks
report their cash still below the legal re-
serve. But while the money rate did not
tighten. number of Industrial stocks,
especially those classed as green" in wall
street parance, showed signs of weak
ness, as might happen If they were sub
jected TO discrimination by money lenders
in the shifting of loans. The Glucose
stock were notably affected, the common
dropping nearly points and closing near
the lowest, while the preferred lost 3i5.
Iron aud Steel stocks, as a group. also
weakened simultaneously, Steel and Wire
leading with an extreme decline of pa.
Others of the group suffered to the ex-
tent of between ! and points. This I'M
settled the bull movement and wiped out
pretty much all the gains which had been
established. Prices struggled inward
again in the final dealings to a level for
the most part slightly above last night,
but the snap seemed taken out of the
movement.
There was a warning rally In the rates
for foreign exchange during the day
which was not needed Signals OF distress
We're in evidence in the German money
markets. and sterling exchange fell sharp
ly at the continental centers including
Paris Discount rates in London respond
ed with an advance and exchange rates
here, both on Paris and London rose in
sympathy. Add to this the fact that
money Is still going TO the interior in con-
siderable volume, thai government pay
ments through the sub-treasury are again
Ealing off, promising q renewed decline
in the money market on account OF reve-
nue. receipts, and that applications for an
ucipated payments for government inter-
est continue on a small scale and the out
look for easier money Is not promising
This consideration was sufficient to give
pause 20 the efforts to advance prices.
The bond market was moderately active
and prices improved. Total sales par val
ue, S2,005 600
United States bonds were unchanged In
bid quotations.
Total sales OF stocks, 397 300 including
Atchison preferred 1916; Baltimore ana
ONO, 9,2JS; Burlington, $50: Louisville
and Nashville, 1910; Manhattan. 6S95
New York Central, 500; Northern paeiac
$3.50; 81. Paul, 1870; Southern pacide,
N,9I5, Union Pacific $500; American steel
and Wire. 1850; American Tobacco. II 40.
brooklyn Transit. 1858 Federal Steel IA. :
SO; Glucose Sugar. 1850; LaClede Gas 5. =.
$50 Pullman, 6546; Sugar, $3.50; United
States Leather, 1000.