The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-09
APPREHENSION or WAR.
Causes Many stocks to Be Thrown
Upon the Market.

New York. Sept. S.-Considerable stock
was thrown on the market, as a result Of
the fears OF war between Great Britain
and the Transvaal and the condition Of
the local money market was a continued
cause of uneasiness. The market took the
offerings very we'll, and so no very wide
breaches were made in prices. First prices
of a number of the internationals were
the lowest of the day, notably Kansas aud
Texas preferred and Norfolk and Western
preferred, which fell 13s and respectively.
Declines were not down 20 the London
parity, as a rule, and vigorous support
was forthcoming at the decline Kansas
and Texas preferred and Norfolk preferred
recovered their losses, and there was a
rally along the line. Near noon there
was renewed weakness on the circulation
of alarmist rumors regarding the outcome
of the British cabinet meeting The gem
eral level of prices fell lower than on The
first dip.
There was a movement to cover short
contracts when authentic reports were re-
ceived on the better feeling engendered in
London after the cabinet meeting. About
the same time Manhattan was taken in
hand and marked up over points Metro
politan Street Railway, Sugar and Brook
lyn Transit simultaneously. The general
a H.,
hcient IN many cases to wine out earlier
losses. Tennessee Coal rose aggressively
to III in the final dealings and Manhattan
touched 1l6, the specialues generally show
ing some response. Pacific Mail suffered
a loss of nearly 4 points on the statement
of decrease in July earnings, but rallied
afterwards.
The lightness of the money market was
unrelieved. The time loans were held at
per cent. and call loans for the most part
ranged from and up to 6 oer cent The
late fall in call loans occurred after the
needs of most borrowers had been met
and without significance. A further de-
cine in surplus reserves in Tomorrow
bank statement is a foregone conclusion.
The movements of currency by express
indicate a net loss to the interior by the
bank of considerably over 50 100000 and the
Sub-treasury has gained from the banks
including payments for taxes and deposits
for Geographic transfer to the interior
$9,5S6OO No set-off is apparent against
this loss of cash of upwards of IS. 100000.
Sterling exchange in New York fell a
sharp fraction this morning. in spite OF
higher discount rates in London, but the
bankers rate for demand sterling partly
recovered in the afternoon The recent
hrmness of sterling exchange is attributed
to demand for bankers bills to cover
short sales made against cotton bills.
me oolu HdIhet showed yielding ten
dency on moderate volume of transac-
tons. Total sa.es, par value, 80, 01O 900.
United States bonds were unchanged IN
bid price
The total sales of stocks to-day were
4S7,7OO shares, including Atchison. 5225;
Atchison preferred 22750; Chicago, Bur
lington and Quincy, HOPS; Rock Island,
1904; Louisville and Nashville. $3.50; Man
haitian, $50; Metropolitan, 1910: ST. Paul
1850; Missouri Pacific, 8 625; Missouri
Kansas and Texas preferred, 5195; North
ern Pacific, G550; Sou hern Pacific. 1880:
Southern Railway preferred $3.50: Union
Pacific, 1860; Union Pacific preferred.
7,lG5; American Steel and Wire $50;
Americal Steel Hoop, $500; Federal Steel.
1880 Sugar, 1880; North American. $40;
Tennessee Coal and Iron 1925; United
States Leather. 1890 Brooklyn Rapid
Transit, 1886; Continental Tobacco, $500;
Colorado Fuel and Iron, S.165