The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-27
PAGES 9 TO 10.

featuring Company. IS bid. 70 asked; sa
vannah Brewing Company. lOi bid, lO5
New York. May 26-Monev on call was
easy at 2Q3 per cent. The last loan was al
~ per cert. Prime mercantile paper. sis6D
"a per cent, Sterling exchange steady with
acluat business in bankers bills at "a s7tsa0
4.S's4 for demand, ara at 81 S514Gl4. sSIS for
sixty days. Posted rates, 81 s6Js and "a SS4
commercial bilis, SI.s5. Silver certificates
olAozc. Bar silver, Gle. Mexican dollars.
n'2c' government bonds were Irregular.
State bonds We're inactive. Railroad bonds
were irregular
Rev York. May 26.-'The market onened
with continuance of the upward move
Weht winch was In force yesterday Yes
'erday sharp advance brought in a mod
crate volume of buying orders TO the com
mission houses. which were put in al the
opening There seems 10 have been also
considerable enthusiasm awakened in the
Ainerican department of the London mar
ket by the same cause.
The international stocks were hid I'm
there before the opening here. and the
arbitrage brokers promptly bid them up
10 parity here. Ii soon became appar-
eht. however, that the bull party was
no more prepared TO make extensive com
mitments on the eve of a holiday than the
nears, and the activity soon came to a
standstill.
The feverish and cratic tendency OF
Consolidated Gas helped to unsettle the
market Its sudden drop was supposed
by outsiders to Indicate some new posi-
blIty IN the franchise tax law and other
stocks In the same group fell away in
sympathy.
When the announcement was made OF
the action OF the gas directors in reduc-
ing the quarterly dividend rate from 2
TO l1e per cent. there was some recovery
IN the stocks of other New York munich
pal corporations. As a rule, the promi-
nent high priced specallies were weak
Sugar was conspicuous sufferer on ac-
count of the reduction in the price Of
cube sugar, which presaged another stage
of war of sugar producers and effect
ually demolished the recently current re-
ports of an agreement upon which the
stock was advanced. The extreme de-
cline in gas was 10 points. and it closed
only 4 above that. Sugar lost points, but
rallied and closed with net loss of 3&.
Both American and Continental Tobacco.
American Steel and Wire, Anaconda and
American Smelling were points of weak
ness. Manhattan, Brooklyn Rapid Transit
and Metropolitan Street Railway recovered
a large part Of their losses.
When the selling movement had spent
It's force IN the afternoon, heaVy buying
orders appeared for Atchson preferred
and st. Paul which wiped out, for the
most part, the few slight losses in the rail-
road list The market eased off slightly
with the final break in the specialtbes. but
many railroads show fractional gains on
the day. II was expected that the de-
mand for loans, which are made to-day
to carry over until Wednesday, would
stiffen the money market but no disturb
ance was perceptble there. Sterling ex-
change maintained It's easy tone, under
the influence of London buying of stocks,
in spite of the demand for TRANSMISSION
by Saturdays outgoing steamers.
The market for bonds continued rela-
lively more active and stronger than that
for stocks, a number of new high record
prices being made. Prices yielded at some
points In the list, with the break in stocks,
and made the days changes mixed. The
total sales were &.9O2,00
United States 3s regular advanced n,
and the old as coupon Il In the bid price,
while the IS coupon and the IS declined *.
The total sales OF stocks were 393.SOO
shares, including Atchison preferred H.
$50; Burlington, $500; Louisville and Nash
Vile, 1850; Manhattan, 1920; Metropolis
tan, $685.: Northern Pacific, $500; Union
Pacific. $500; St. Paul ss22; Southern Pa
cific. 700; American Steel and Wire, 16,-
965; American Steel and Wire preferred,
Z .020; Tobacco, 2O,544; Federal Steel, 11,375;
Peoples Gas, 1850; Consolidated Gas, &c.
295; Brooklyn Rapid Transit, $3.50; Con-
tinental Tobacco, 1885, Sugar, $3.50;
Tennessee Coal and Iron, 1860
" all