The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-03
THE UPS AND DOWNS.
Stocks Opened With Strength, But
Was Depressed Later.

preston was due to the continued prospect
of hard money. The early strength had
its inception in the disposition of London
to buy American stocks Notwithstanding
the marking up of che money rate there
The demand from London was especially
marked for Alchison preferred, Louisville
and Nashville and Northern Pacific. Lon
don sold Anaconda Copper.
There was a smart upward movement in
some OF the specaltes. Early in the day
Sugar Went up "a. Reports of the eX-
traordinary earnings in the iron and steel
industry gave a firm tone to that group
of stocks and Tennessee Coal had the id
ditional benefit of a report that valuable
property was about to be acquired ana
that claims of preferred stockholders were
in process of adjustment. The stock in
consequence rose 3a4
The trunk lines were favoraby affected
by the going into effect OF the higher
freight rales on grain to che seaboard.
The Tobacco stocks, the local traction
shares, General Electric, Cotton Oil, PeO-
PIES Gas and few others gained from
individual causes. The general appear
ance of strength thus impaired to the mar
ket prompted some covering by the shorts
who sold yesterday, thus helping on the
advance.
The higher prices brought out realizing
sales and there was a sharp break in
Sugar and Brooklyn Transit. the latter
dropping 212 from the best Lackawanna
suddenly fell away 3i2 points on rumors
of a projected strike. The Changers We're
weak on bad crop news. The closing was
duh and heavy and generally below last
nights closing.
The apprehension over the money out
look was caused by the advapce Of dis
count rates IN London to a Point above
the Bank of Englands minimum rate. The
fall in consOls was evidence that the Bank
of England was again borrowing from the
market to repel the demand for gold made
probable by the recent downward course
of sterling exchange in New York.
There was not enough doing in sterling
exchange here to-day to reflect the infiu-
ence of this move, but the sterling eX-
! change rate at Berlin, whence London
continues TO draw gold, rose ? pfennigs.
The bulk of the call loans in New York
were made to-day at per cent, and lend
| ers showed themselves indisposed to re-
! new umes loans at current rates. Prime
| commercial paper rates ruled from 4 10
per cent. Outside banks continued to
| draw on their deposits in New York banks
for the purpose of making loans in this
market. There has been some outgo of
funds from this center 10 Montreal on ac-
count of stringency there.
There was activity and strength by the
Kansas City, Pittsburg and Cuff firsts.
OtneFNIce lIe .OHtl market was IiSS uIdl.
/ Total sales, $2.009,500.
United States 5s declined 4 in the bid
price.
The total sales of stocks were 480,950
shares, including Atchison preferred, IS 695;
Burlington, 1920; Rock Island, 6,S10; Man
haitian, $780, Missouri Pacific $3.50;
Northern Pacific 1900; Pennsylvania. 20
800; ST. Louis and Southwestern, $500; do
preferred, 1900; St. Paul, 1850; Southern
Pacific, %, $50; Union Pacific, SO, $50; do pre-
ferred, 5,124; American Cotton Oil, 1850;
American Steel and Wire, 11,S20; American
Tobacco, 5i,1jO; Brooklyn Transit, 81, 1873;
Colorado Fuel, 1850; Continental Tobacco,
1920; do preferred, $3.50; North American,
$500; Peoples Gas, 15.12O; Sugar, 1920;
Tennessee Coal, 1865
New York Stock List.
Atchison 900. 2Ols Union Pacific E. 442l
Atchison pfd =. 6SA TNion p. pfd... IT'S
Baltic. & 0. 49,. 40 Wabash ........ rs
Canadian p. 81 Wabash pfd -. %
| Canada Sthn 81 w. d l. E.. 95sl
! Central Pacific. 5t4 w. q L. e. End
Chesa. & o.. 279s pfd ............. 237s
Chicago G. w. 14$4 w. Central 900. Isl,
c., b., & o., .1275s Adams Elk. .....112Ib
c., l., & L.. 10 American Eek. 13S
c., 1. &, L. pfd.. Al United States =. 50
c & u. l ...... 76la Wells Fargo 126
c. & N'westn. .161 a. c. On........ 43M
G.. r. l. & Pac119120A c. Oil pfd . 93l4
c. c. c. & St.L 57l9 American Mall. II
! Colorado -. 50 a. NJ. pfd...... 50
c S. LIST pfd.... As Am. S. d R. . 1914
c. S. 2nd pfd q. IS Am. S. & r. pfd $50
Del & Hudson. 1885 Am Spirits ... 81
Del, L & Wis Am. Spirits pfd %
Denver & +. G. 2l3s Am. Steel Hoop S.
D. & R. G.. pfd. 7534 Am Steel Hoop
Erie .... ........ 1888 PA ............. 7S3s
Erie LIST pfd.... 3714 Am. Steel &
Great n. pfd. ..167 Wire ......... 593s
Hooking Coal. Az American Steel
Hooking VaLey 23l2 e. Wire pfd 973t
Illinois Centl..1l5 Am. Tin Plate. 42l5
Iowa Central. 12A AM Tin Pate
Iowa Cent? pfd 50 pfd........ ... S7Ik
K. c., r & G.. 8 Am Tobacco ..1O9%
Lake Erie e w. p Am. Tobacco pfdl4O
L. Z. & w. pfd 50 Anaconda Min
Lake Shore .... 20i2 ing Co. ........ 55H
L'vn & N'ville 44 Brooklyn r. T.1l5A
Manhattan l.. .11S7s Colo. f. & l.. AZ
Meritan St Ry2l2 Continental To-
Mexican Cent?. 145s bacco .......... A
NJ. & st. Louis 5Si2ContEcntal To-
M. & St. i. pfd 9lI2 bacco pfd ...... 50
Missouri Pacific ass Federal Stcel...59H
Mobile & Ohio. A Federal S. pfd. 8l1a
M, X. q IT,. y Gem Electric ..12l
NJ. X & r. pfd 36la Glucose Sugar e. 67Is
| New Jersey C..1l7A q. 5. pfd. ...... 108
New York c ...1393 ln.lernatl p. 81
Norfolk & w. 2l3s /. 7. Dfd........ 1914
n e. w. pfd.. 7l7s Laclede Gas . 56ta
Northern Pac... 523s National B...... 1914
Norh'n p. pfd. rs National b. pfd 10l
! Ontario & W.. 263s National Lead Of 81
O. Ry. & Nav. 40 Nat Lead pfd. 1l2
o. Ry. & n pfd 75la Nationai Steel. 53A
Pennsylvania 1855 Nat. Steel pfd. 9ih
Reading ........ 2ll4 n. y. Air B....19j
Reading 1st pfd 6lb North Am. ..... 1914
Reading 2nd pfd 1874 Pacific Coast .... IS
Rio G. Wostn. 80 =. G. LIST pfd..S 81
Rio G. w pfd.. Is Z. c. End 9fd IS
st. l.. & San f. ia Pacific MAI .... 4SA