The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-28
PAGES o TO 10.

ment would be forthcoming on Saturday
aud the new strength In the market on
account OF Saturdays bank statement had,
therefore, been discounted.
Prices were opened high and the adj
vance In Americans in London had the ap-
pearance OF being manipulated from New
YORK FOR the sake of influence on the
opening here. At all events the London
market was depressed generally on the rise
~ the money rate, and sold stocks here
rom the opening untll long past the usual
hour for cabling. Pennsylvania was an
exception, and bought by London This
demand was largely responsible for the
stocks rise OF AZ over Friday, during the
hrst hour. 1t subsequently reacted and
saved only 90 of the net gain.
The high prices at the opening we're the
signal for very extensive realizing. which
was most marked in the Baltimore ana
Ohio Issues. The opening price In the pre-
terred ran all the way from IS down TO
SON There were occasional rallies M
these stocks, but The pressure OF profit
taking was renewed and their close was
near the lowest at net losses of IL and
~ respectively. Union Pacific showed the
effect OF rToht-taking, and Sugar was OBJ
Vlously weak from the start These vera
sufficiently powerful factors to decide tho
general course of the market downward.
The heaviness became quite wildly dis
seminated as the day progressed, and
Af't's% ~ iNaftu VI q punt OF over VIII DO
observed.
While the general course of the market
was reactionary some points OF strengths
existed. Manhattan. Federal Steel Amer
lean Hoop Chesapeake and Ohio. and Peo-
ria, Decatur and Evansville rose from / 10
points without maintaining the full adj
vance. Leather continued very cratic
over range of So points below fridays
close. The late break I'm Sugar to lA and
the st. Paul statement for October, show
ing decrease In net earning OF nearly
$280OO0, emphasized the late weakness. ST.
Paul Increased operating expenses or inn
provements charged to that account, have
now wiped out an OF the increase In gross
earnings since July /. and established n
net decrease for that period OF nearly
$780, 900
The condition OF the money market was
not greatly affected by the improved show
Ing OF the banks In Saturdays statement.
The fact Is pointed out that while the
statement OF all the clearing house banks
showed a decrease in loans Of SO 1875 800 and
an Increase IN cash reserves of S. 964 225, a
single bank In the association reports
decrease in loans of 81 1865 800 and an i'm
crease In cash OF 49, 229, 600 with this sim
gle institution Withdrawn from the show
Ing, the average condition of the remains
ing banks, therefore. has not been im-
proved The majority of the days loans
were made at per cent, and the rate for
sterling exchange advanced sharply IN re-
Spouse TO the money pressure in London.
There was a good absorption of railroad
bonds, aud prices advanced.
Total sales, par value 81, $50 600.
United States 2s advanced k and the 30
and new Is * in the bid price, the 6s de-
clning X.
The total sales of stocks were s23,SO0
shares, Including Atchison preferred, 14400;
Baltimore and Ohio. 20,350: Chesapeake and
Ohio, A,2i6; Chicago Great Western, 719O;
Burlington. 1860; Cleveland. Cincinnati,
Chicago and 81. Louis, 1890; Louisville and
Nashville, 740O; Manhattan, 2i,l5O; New
York Central, 97s5; Northern Pacific, H.
$40; Pennsylvania, Al $40; Reading, first
preferred, $3.50; ST. Paul, 10,40O; Southern
Pacific 25 $50; Union Pacific, 6O.675; Union
Pacific preferred, 1851; American Smelt-
ing and Refining preferred. 1.9S7 American
Steel Hoop, 1880; American Tobacco, H.
800; Brooklyn Rapid Transit, 5.4s2; Contl-
mental Tobacco, 1851; Federal Steel 1865
Sugar, 50S30; United States Leather, 66,730.
New York Closing Stocks.