The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-10-31
PAGES 8 TO 10.

until the close. which was at about the low
point and with prices still giving way
60 pressure. No serious net losses are
shown in the railroad list, but the earlier
gains which amounted TO a point and up
wards In many cases. were pretty gener-
ally wiped out.
The market opened with a strong and
animated tone and a large volume of out
side buying orders invited by the uneX-
pected strength of the Saturday bank
statement. The demand was particularly
large for the Changers and Southwesterns
and for some Of the Southern railroad
stocks. notably Louisville. which was up
"a az one time. This stock resisted the
later depression with some sHccess, but
closed Il below the best. Even the much
hammered indusrrals had some share in
the early strength. Sugar rose an extreme
points before yielding to pressure and
the iron and steel stocks had short-live
period of vigor
Pressure promptly developed against
Steel and Wire, and It was weak for the
rest OF the day, affecting other members
of the group by sympathy. Federal Steel
was exceptionally firm. The Leather
stocks continued to be largely dealt in
but the gain Ia the preferred was entirely
lost before the close. The International
Paper stocks was fercely attacked, the
common being forced down 3ia and the
preferred 4 points
The latter recovered points Of its loss.
Rumors coming from Holland of the fall
OF Ladysmth were without much effect,
az London seemed disposed 20 discredit
them. The September statement of st.
Paul had discouragmg effect on specula-
tors, showing. as Il did, the large increase
in gross earnings obliterated by the heavy
increase in operating EXPENSES, so that
the net earnings for the month were over
$500 900 less than in September OF last
Off afr1l. lr4a1
upon all the grain-carrying roads. The
days events in the call money market
showed that the extent of recuperation
by New York banks was grossly eXagger-
atcd in the first enthusiasm over the Sat
urday statement The rate opened at
per cent, and after dropping to ~. rose
violently in the late dealings to 30 per
cent. Bids were made for 40 per cent.
but the closing transactions were at %
per cent II was a striking demonstration
of the unfit condition of the money mar
kot to maintain an active speculation.
New York exchange fell sharply at some
Southern and Western points to-day, al
though it was harder az Chicago and Bos-
ton. II Is evident that the demands Of the
the interior are not yet exhausted The
sub-troasury has absorbed a considerable
sum from the banks since Friday, aud
some extra demand Is coming on the mar
ltet for Nov. / settlement. Wall street
81 ilt'li upon tue money bhAlooh ltll QuiNk-
" from extreme optimism down into the
minus figures OF pesslmlsm.
Bonds moved in sympathy with stocks,
but the early gains were not entirely
wiped out in the late reaction. Total sales
par value $3145.000.
United States SIS, registered. advanced
"a and United States coupons and SIS = IN
the bid price
The total sales Of stocks to-day were
$4,000, including Atchison, 9,l3); Atchison
preferred 57,256; Burlington, "A 695; Rock
Island, $3.50; Louisville and Nashville, 30
7s5; Manhattan, 26,j30; Missouri Pacific,
1926; Missouri. Kansas and Texas pre-
fcrred, 5,150; Northern and Western, $500.
Northern Pacific. 1880; Ontario and
Western, $500; Reading first preferred 26,-
5i0 81. Paul, 22,47G; Southern Pacific U.s.
$50; Southern Railway. 30935; Southern
Railway preferred. 1885, Union Pacific.
2lH5 Union Pacific preferred. 1860;
American Steel and Wire, 1850; Brooklyn
Rapid Transit, 80 $50; United States Leath-
or, 50,7S5; United States Leather preferred,
l6S50 Sugar, 57,O67; Peoples Gas. 500.