The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-10
STOCKS QUIET.
Local Market Resisted n Down
ward Tendency and Succeeded In
Holding Steady.

Local Market Resisted Down
ward Tendency and Succeeded In
Holding Steady.
New York, Aug. 9.-There was not much
in the stock market to-day. The market
sold off at the'openng on realizing and IN
the heavy tone impaired by sympathy
with London. Sales of securities for Lon
don account continued to-day on moder-
ate scale. The call money rate in London
nevertheless. dropped a fraction to-day
and sterling exchange in Paris advanced,
but declined in Berlin
There is a renewal of anxiety over the
IransVaal question, which had its effect
IN foreign stock markets and was a fac
tor in the reflected early depression here.
But the local market resisted this down
ward tendency, and was inclined TO move
upwards before the end of the first half
hour under the lead of Sugar and in sym
paihy with an additional rise in the Mn
neapohs and st. Louis stocks
Consolidated Gas was strong and Amer
lcan Tobacco forged upwards again, its
gain reaching nearly 8 points and holding
well near the top. Sugar weakened before
the day was over, but there were enough
individual stocks showing strength to
maintain pretty firm tone notwilhstan
ing the intense dizziness for the rest of the
DAY Some of the gains were Duluth
South Shore and Atlantic preferred 2i6;
American Lnseed Oil preferred 284: Unit
ed States Leather stocks IA each; OREGON
Navigation, "A Pacific Coast ,: Reading
and Chicago and Eastern Illinois j.. each;
General Electric and Colorado Fuel point
each; Atchison preferred advanced strong
ly IN the late dealings. The call money
rate was easier to-day, under the intlu-
ence of offerings from out-of-town
sources. When Chicago, Duluth, Mime
apolis and St Paul were aid 10 be lend
ing money here and expressions of opin-
ion from financial authorities in Chicago
as to the plenitude of money these had a
reassuring effect While Chicago is buy
ing commercial paper in New York, coun-
try banks throughout the West are said
to be buying paper in Chicago.
The rates for time loans and for com
mercial paper were however, very firmly
held in spite of the easier tendency in the
call loan department. A hardening of a
traction in the rae of sterling exchange
was a significant reflection of the lessened
anxiety over the money outlook. Exchange
has recently been tending persistently
downward Notwithstanding the DEAFNESS
of money in London. on account of the
tension here. Gold imports have. up 10
to-day, seemed the only resource against
money strinsency here in case of large
demands from the interior for moving the
crops
TO-day's movement of sterling exchange
was, therefore, highly important as indi-
eating the easier condition here The pre-
seniation of drafts on the New York sub
treasury in payment of the gold deposited
at the San Francisco mint is expected to
be an important factor in relieving the
local money market. Kansas City, Pitts
burg and Gulf irsts dropped per cent To-
day in sympathy with the reaction of 2ss
in the stock The market, otherwise, was
dun and irregular
Total sales, 81 100000 United States
| bonds were unchanged on bid quotations.
| Sales, 1884 10 shares, including Chicago,
Burlington and Quincy 10360 Rock
| Island, $3.50; Louisville and Nashville 1850;
Reading 6lO0; Reading, first preferred
| 5000; Reading second preferred $3.50; ST
Paul, 1900; Union Pacific. 1885, American
Tobacco, 1910; Continental Tobacco, $3.50;
Brooklyn Rapid Transit, $50; North
American, OOPS; Sugar, 80 500.