Savannah morning news. [volume] (Savannah) 1868-1887, 1881-10-28
THE CONFEDERATE BOND
CRAZE.
Heavy Purchases Of the Securities
I'm CharlestOR-RePOr OF Numer-
Gus COunterfeIts Ad0aG.

The operations in Confederate securities
have been quite active among the Charles
ton brokers during the past week, and i'm
mense amounts have been bought in that
market at prices ranging from 81 30 to s. a
thousand. We learn from the Neaos and
Courier that the demand continues good and
the brokers generally have entered the mar
ket and are buying all the coupon bonds that
are offered. They are acting under instrue-
lions from New York houses, who in turn
are buying on account Of the English hold
ers of Confederate securities. That paper
says:
i'Major E. Willis made the largest pur-
chases in this market. He began operations
on last Friday, and has bought more than
five million dollars in Confederate bonds,
skies and Fights, with the coupons OF 1868
attached. Yesterday he purchased about
one million and half Of these bonds, which
find ready sale at from "a to 50 thousand,
according to quantity. The Confederate
sevens rate at 50 to 50 so thousand, and
find slow sale.
"Mr. E. NJ. Moreland has bought in small
quantities about 81, 100000 of skies and
Fights, r. NJ. Marshall & Brother have
bought a few hundred thousand, W. s.
Hastie 81 Son have made small purchases,
and so with other brokers in the city.
"The sale Of the bonds has put forty or
fifty thousand dollars Of good money in
circulation in this city. Some Of the buyers
fear that any publication Of the ready sale
of the bonds will have a tendency to de
press the Market while others think that
the large holders OF the securities will stand
back for better prices.
"The cotton bonds are the only securities
that are regarded by the brokers as OF any
intrinsic value. Col. r. j. Moses, promi-
nent lawyer of Columbus, Ga, Is acting Tor
the American holders Of the Confederate
bonds who intend to get the Confederate
deposits in the Bank of England by Htiga-
ton or compromise. Col. Moses is a rela-
tive of Mr.. Judah P. Benjamin, one Of the
old Confederate Cabinet, who has been re-
tanned in this suit.
cit was rumOred on the streets yesterday
that an enterprising New England firm, as
soon as the demand for the bonds sprung
up, started a factory for the purpose OF
manufacturing them in order to supply our
English cousins with all the article that they
want. The rumor could be traced to no
authoritative source, but 1t is remembered
that during the late war, out of which the
Confederate bonds sprang, our brethren at
the North supplied us with even better
article in the shape of Confederate currency
than we were able to manufacture at home,
and so there may be something In the rumOr
after all.n
Discussing the subject Of counterfeit
bonds, the New York Herald of late date
warns all purchasers Of Confederate securi-
ties to watch closely or they will be taken
IN by counterfeits
'During the war, it says, counterfeit Con
federate notes were printed in nearly all the
Northern cities, and the only manner in
which they could be distinguished from the
genuine notes was by the fact that they
were somewhat better printed. There are
thousands Of these bonds still in existence,
and the speculftors are likely to get Bit
unless they are very careful"