The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-18

except for Tennessee Coal, which has re-
gained points of It's decline. The bears
were disposed to continue the contest
early in the day and handled Tobacco
stocks and Sugar rather severely. but
even in these the bear campaign showed
convincing evidence of exhaustion before
abe day was over. Sugar ruled above last
nights level during the latter part of the
day and closed with a net gain of lS,.
American Tobacco regained its earlier
losses, and Brooklyn Transit. though
rather fevertsh al times, was higher all
day.
The characteristic movement Of the day
was in the railroads. The Southern group
and the Southern and Central Pacific
stocks continued to be the center of
strength, with some additions to the form
er group over those which moved up
wards yesterday. Louisville was the lead
er and rose at one time nearly points,
its close being a small fraction below that.
southern Railway preferred continued
strong, but Chesapeake and Ohio Jagged
The Baltimore and Ohio stocks came Vs-
oTously forward into the movement, the
common rising an extreme points and
the preferred and Mobile and Ohio also
shared in the strength. The buying of
southern Pacific was very large, and evil
IDENTIFY by a powerful. concerted move
ment. The stock rose 2i5, and Central Pa
citic gained points. There was an iso-
lated movement in the Piusburg Cincin-
nati. Chicago and St. Louis
stocks. the preferred rising points 10 100
with subsequent reaction of 2l2. the
common rising 134 and losing the fraction
Railroad stocks generally, are higher.
the gains reaching ! point in only a few
cases. The Changers, Atchison preferred
and Pennsylvania were conspicuous.
Northwestern gained %
The leading cause of the more cheerful
feeling regarding the values of securities
was the easier condition Of the London
money market, as disclosed by the weekly
statement of the Bank of England.
The rate for money fell appreciably in
/ London to-day, but still rules above the
| bank rate. The hank continued TO buy
gold to-day and 10 import it from Ger
many. and the probability is that if the
private discount rates should fall below
the bank rate that institution would again
borrow from the market in order to
stffen rates. But the sentimental effect
on the New York stock market was very
marked, as increased confidence was felt
that god might be withdrawn from Lon
don to New York in case of higher money
rates here without upsetting the foreign
stock market.
The large increase in st. Paul's earnings
for the second week in August, in spite
of the falling off in the grain movement
was an encouraging factor.
The bond market did not share in the
lncrea sed activity of stocks, and changes
were small and mixed. Total sales. par
value. $1,947 900. United States old As cou-
pom advanced a and the 5s y in the bid
price.
The total sales to-day were SO 100 shares.
including Atchison, 1910; Atchison pre-
ferred, SIPS; Baltimore and Ohio 1860;
| Central Pacific, TO- $50: Burlington. 6,6l0;
Louisville and Nashville. 23720; Manhat-
Ton. S,400; New York Central 1920; Nor
folk and Western preferred, 6,325; North
| err Pacific, 14,598 Pennsylvania, $50; ST.
| Louis and Southwestern preferred, 5000;
/ St Paul, $50; Southern Pacific, 1850;
| Southern Railway, SIPS; Southern Pacific
preferred o, 100. Union Pacific, 9,735;
| American Steel and Wire, 6,10Q; American
| Tobacco, $3.50; Brooklyn Rapid Transit,
! &c, $50; Continental Tobacco. 1885; Cont
mental Tobacco preferred $50; Sugar, 70
| 1872; Tennessee Coal and Iron, $3.50; United
/ bat~