Savannah morning news. [volume] (Savannah) 1868-1887, 1883-09-10
Evening Report

FtNANCIAL.
new ORLEANS, Sept. s.-Exchange. bankers
sterling 81 3. - 80 -
NEW YORK, Sept. s.-Exenanre. 81 s1I<
Money z921z per cent. Sub Treasure balances
ION, Slzv, 10000; currency. s.. O4O,0 O0 Gov.
eminent bonds steady: four and a half ne,
cents, llZ1z; four per cents. 1885,: three her
cents. lO5t a. State bonds duh
NEW 1ORK, sept S.-The weekly state
ment OF the associated banks issued from the
clearing house to-day shows the following
ehanSes: Loans increased 81. 7O9. 700: specie
decreased sl,422, 600; legal tenders decreased
SozS,oo0; deposits decreased Ss47, 500; circu-
iatIon decreased $4,000: reserve decreased
Sl'l56.525. The banks now hold SASS 4sO in
excess OF all legal requirements.
speculation at the stock Exchange TO-DAY
presented amarked change as compared with
tue previous days Of the week. In the first
sales the market dropped 4 to p per cent.
louisville and Nashville, Michigan Central.
Norlhern Pacific, Oregon and TranscOntinen-
tai and Reading suffering most In the first
hOur, however, there was recovery Of :. to
D. per cent, Northwest leading. This was
again followed by pressure to sell and still
lower prices for many shares. The decline
from last nights closing ranged from ( to
- per cent. the Nanderbilts Grangers Den
yer. Louisville and Nashville. Northern Pa
enc, oregon TranScontlnental and Wabash
preferred being particularly weak. Michi-
gan Central sold down to S23<. Canada
southern to % Z. Lake shore to lOl3< New
ork Central to ll6, Northwest to 1851. St
Paul 10 l0fl .. Chicago. Burlington and Ouincv
T. ~ Omaha TO AZ s, ditto preferred TO 1921
Northern Pacific TO 40. Northern Pacific prefer
red TO -. and Wabash preferred to 33lZ At the
close some shares rallied l.(Gl per cent, while
others sold at the lowest figures of the dav
Union Pacific and Northwest preferred were
quoted eXdividend 4(d2 per cent. respect
lyely. The depression was due to reports
lhat the Gould party would not enter the
Louisville and Nashville Directory; that
President Rutter Of the New York Central,
had ordered rates reduced TO whatever figure
necessary TO obtain business, and that the
corn crops had been seriously damaged
by frost. The two first mentioned
reports were emphatically denied.
In regard to the alleged damage
TO the corn crop opinions differ widely, some
houses having private wires being in receipt
81 kilograms predicting the largest crop ever
harvested. while others received word that the
crop had been seriously harmed. 1t was said
that the reaction was partly due to yester-
days heavy realjzatiOns and to the fact that
the bull leaders themselves encouraged sales
IN order To force out smaller holders. At least
brokers identified with those who recently
were on the bull side Werc-acting, first in de-
pressing prices. and equally prOmi-
nent among buyers during the after
noon. In specialtieS American Gable
uecllneu per cent. 10 o424. chicago, 81. LOUIS
and Pittsburg preferred per cent. to A,
Indiana, Bloomington and Western - per
cent. To p. Manhattan Beach per cent. to Is,
Memphis and Charleston 80 per cent. to 40,
Minneapolis and II. Louis preferred y per
cent. TO j0l4. Norfolk and Western preferred
J per cent % 81. Peoria l per cent. To 1872,
Pullman Palace i per cent. TO l29, Manitoba
H. per cent. to 1882. and Colorado coal ~
per cent. to 2l19. Bankers and Merchants
Telegraph rose - per cent. to 1907, and Ohio
Central per cent. to ~. The sales Of stocks
for The week amounted TO 2,534,l1 shares.
against 2,2tO.g94 last week. an increase of 223,-
2u2. The exports of specie from the
port of New York for the week ended
to-day was Sf50.59O; the total since
january / was Sl0,569, $50, against S42,5J0,
OiS for the same period in 1852. The
imports Of specie for the week were SI75, $50
total since January was SiO,67O39S against
S2,4S0.94l for the same period last year. The
weekly exhibit at the New York City assO-
cIated banks was UnfavOrable, showing loss
in surplus reserve Of 81, 7s6.525, an expansion
i'm loans of Sl,709, 200 and loss in cash of ST.
g47,400- Liabilities were reduced ssh. 500.
The banks hold Si.4S7.5OO above legal require
ments. aPainst5a deficiency of 81 $50 275 for the
same week last year. The statement reflects the
movement Of currency to the West and South
20 assist in the movement of crops. Transac-
tiOus aggregated 10000 shares at the follow