The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-02
STARTED OUT STRONG.
But Declines Took Place on sharp
Selling in Railroads.


10 a point each in Burlington and Pennsyl-
vania and from to points in the leading
lndustriais. Soon after the opening real
izings were made on large scale, opera
tors taxing advantages of heavy commits
sion house demand to take the profits
made on the recent rise.
The outside buying and the realizing
seemed about equally balanced for
Time, but the weight of the selling proved
too much for the market to carry and
prices Of railroads gave way. The soft
ness of the market moved the professional
operators 10 turn to the short side after
| having rea' lied and they attacked values
vigorously in the afternoon. wiping out
practically all of The gains in the special
ties ard carrying the railroads generally a
sharp fraction below last night. There
were some isolated stocks which maintain
ed their strength Throughout the day. no
lably the Chicago Great Western issues.
Colorado Southern and Chicago and East
ern Illinois, which rose from a fraction TO
SIS.
The strong June statements by AtchisOn
and Union Pacific were without marked
effect
Rates for call money to-day were mark
ed up to AZ FER cent in the afternoon.
| Cheap money does not appearinearer than
| II did a month ago as London and the con-
| tinent are evidently counting on borrowing
| the credits Go be established by the COM
| ing export movement The calling home
! OF these credits would, it seems. result IN
| sIles ot securities rather than shipments
| Of sold, which the Bank of England is
still buying in the open market and from
| Germany. London bought quite freely of
| stocks to-day and exchange bills against
| future Srain shipments continued large
! supply.
There has also been a sharp fall in ex-
! change on Paris this week and to-day's
seuling exchange in Paris rose 112 cen
| times. Banks in ether cities have been
! large lenders in New York and have
drawn on their deposits in New York banks
! for the purpose This opera ton reduces
! the possibilities of future strain on New
| York banks Though interior demand to
| move the crops. But for the moment it
makes increased demands upon them and
| does not offer much relief to the local
| nonoy situation.
| Standard Rope incomes, Fort Worth and
| Denver City firsts and Oregon Short Line
incomes showed strength. Otherwise the
| bond market was steady. Total sales. par
value 100000. Government bonds We're
| unchanged on bid prices. The coupon
bonds of the 2s and IS, the new As and IS
were eX-interest.
The total sales of stocks were 605, 400
| shares including Atcnison, 6.750; do pre-
ferred, 1884; Chesapeake and Ohio, $50
Cii' ~ i'i7 -" an GuI'i.S ~ ioo
WI 90 e,tI1 o. ,'iilI ~ 80
,jia % H{,f on ~ 81
ciGc o. 81. Observation-Disclosures "a. Paa1jre,
en- ea,S st'i9' ool0 ilIalll'l
orn nrafarrad S00o. 81 PM /, 54o. So,itb-
tf CO.. 90 &c. 30 iui' i3iU,
farred e1o. ITO, paoieo 70 Ia. a. r.
teIIe ' -'SIv, tnIol deiic' I9,ff'' 40 pr
',oSi' leaii oteIyIls al.u ~
aaal7o 1t;ri1l- teo. $500 Dat1
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pre- '''''' o55s ~ ny pr '''' 90 a
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- i,U -, PREF ~ - -, a. - 10 "A
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n = +. q G.'' l412l 1A 49, -. pre- l40
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L. "a d w. pref I912IDrHoKiyh H. T.. LI634
Ia ne 2iioie '''' S 49, =, oii ~ ~
L. q n. '.'.....'' 452l(C,ont' Iopacco: d412
Nc al - - 90 1ai 20 =
~ Sa,,tni q7ed Stee1 nraf 90 o
Mimi. & St. L.. 58l5iGen Electric =. 12
M. & st. L. pref so Glucose Sugar =. 6S34
Mo. Pacific 49,. 40 Glu. S. pref ... 1O7
Mobile &, Ohio . 4p5iInter Paper .... 42A