Savannah morning news. [volume] (Savannah) 1868-1887, 1886-09-07


wnro Firmly than Ever Establishes
,hs Queen City of the Southeast on Her
,,,nrepnsble ThrOne-The Future En-
circled with Bright Auspices.
OFFICE OF THE MORNING NEWs.l
SAVANNAH, Sept. 6, 1886.
There has been a remarkable increase in
np business Of this city during the year end
inc Auc. 81, 1885, At the same time it can
hardly be said to have been very prosperous
cor The increase was in bulk rather than
- dollars and cents. The general decline in
nrces. and the necessity of meeting compet-
N inc figures, cut down profits to a point that
wouId not have been conceded had 1t not
been from stern necessity.
81 The cotton receipts of the port show a great
gain over last year in the number of bales.
The gain was $1,000 in round numbers, OF
which nearly 1000 were of sea island.
The increase in the amount Of naval stores
bsnded here emphass-s the growing import
& spce of this already the leading shipping port
||s for naval stores IN the world.
|W The amount of lumber handled at this port
|# shows a falling off from the previous year,
&vet the business of our lumbermen has been
#Qreater and more satisfactory than it has
#beeu for several years. This is accounted for
! #by the fact that they have shipped enormous
&ouantties direct from the mills thr )pgh other
#ports and by rail since the change of gauge
8has permitted lumber to be shipped North and
FWest without the necessity OF reloading.
There has been no considerable increase in
Nhe wholesale dry goods trade of the city. but
hhe grocery trade has continued TO develop at
about the same ratio as during the year end
Ang Aug. Il, 1885, though the margin of profit
mas been small, and comparatively little
hna,. adn hxr nd
ahe dealers not made extraordinary
Efforts to extend their trade, however. and
4 Auickly conceded prices to meet those of other
/ bCints their business would doubtless have
been far less satisfactory than it was. The
! Sncrease of the Wholesale grocery trade has
been about 30 per cent.
4 Owing to the shortness of the crop of 1885,
! there is shown very considerable decline in
the receipts OF rice, and the sales of fertilizers
Nere also short of those of 1885. A slight de-
4 fline is also shown in the building business,
4 hnd yet the year has been a most gratifying
4 pne IN tais line. 1t must be remembered
4 that during the preceding year Savannah
4 Enjoyed most extraordinary building boom.
4 All things considered the people of Savan-
bah have every reason to feel greatly encour-
4 Dged. II they have been able to make such an
Increase in the volume of the business of the
ety, they may reasonably expect most graft
lying increase in value and hence in
Rrodts, when the expected reaction takes
blace. The effect Of the new outlets, and
Railroad connections promised and expected
D be completed at an early day, can but cause
further increase In the business OF the city
ind port.
Altogether it may truly be said that the
Outlook for the future OF the city 10 not only
Encouraging, but ilattering.
FINANCIAL.
As far as securities and the financial condi-
hon Of the State are concerned, the season OF
1Ss6lSS7 opens very auspiclousiy. Money
4 easy and our factors and merchants find
Do difficulty in obtaining all the loans needed,
1rovded they can offer two good names or
Rive marketable coDaterals. Our banks close
{he year In a better condition than they have
Aver been and with a larger volume of
available funds to lend their customers,
| Aheir balance sheets show less doubtful and
pad papers and their reserve funds larger as
tets. Altogether, thoy are to be congratu-
1ated upon the prosperity whicn has resulted
from The years operations. Last September
me value Of the stock OF these banks was
&bou: as follows:
$outhern Bank, State OF Georgia IG5 l7c
4lerchants' National Bank. 1873 1872
fOuthern Bank and Trust Co... 81 65
Now quotations are as follows:
Bid. Asked.
Southern Bank, State of Georgia 1876 200
derchants' National Bank 80. $50 155
southern Bank and Trust Co... 70 80
N@ional Bank OF Savannah......1o5 10
@Uh very few shares of any Of these insti-
lions to be found in the market.
The Southern Bank ends tho year with Its
Pngnal capital virtually doubled, the Mer-
Asuts National with an increase of 60 per
ent', and the Savannah Bank and Trust
ompany well out of the woods as regards it's
want OF working capital and It's bad debts,
while our fourth bank, which Is scarcely out
It's swadding clothes, is fast growing in
popmsrity and strength, Its stock already
fonlng several points above par.
II we turn to State, city and railroad secu-
''eS We Will find very pronounced i'm
Frorement in all of tnem, and the volume of
'ats and purchases far exceeds that of last
year.
V'ty OF Savannah 8 per cent. bonds from
Vms Inactive at SO have advanced to 1895,
Anu are IN demand at that price. All classes
iuirosd bonds, of debentures and Of guar
en'eeu stocks are sought after by investors.
uu 'ne stock OF Central railroad OF Georgia
rom q has advanced to 100. and now is in
euo" demand by bankers and brokers, both in
auu out OF the state, that IL lie predicted that
'Iusy once again reach the figures OF 1881.
boow is given a tabular statement OF the
.onipsrlson OF prices OF securities for 1885 and
and 1888:
1896. 1886.
.---|~----O
ststoo,o Bid.Asked. Bid.Asked.
cent. bonds tue lsO8 1913 1875 ls4 l2s
S.Ste OF Georgia gold
gonsarteries, per
otS'e Of Georgia, new
~ per cent bonds. ds............1 log lo7
Ocg cs,, OF savannah per
cent. bonds .....'..,a o9N l0giI 1M
10y G OF Atlanta per 4
cent. bonds ........lo7 1os llo ll9
lily ol Atlanta,7 per
cent bonds. IA ia ION
lily OF Augusta 7 per H' i'V
citSn.,, ponds ........ .09 lie ia llb