The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-19
THE LOCAL WALL STREET
THE DISTRICT WHERE THE MONEY
KINGS JoSTLR ELBOWS.


nal Affairs a Hopeful One-A Good
Demand for Invest ment Bonds-The
Most Active of the Local Securities.
A Broker Who is Always Cheerful.
The section bounded by Bull, Bryan.
Drayton and ST. Julian streets is to SAvan-
nah what Wall street and its nearby trib-
utaries is TO New York. Here the bulk Of
the banking and brokerage business Of the
city is transacted. On any pleasant day
bank officials and brokers are to be seen
there In full force, basking In the sunshine
or hustllng to consummate important
financial transactions. Here all the big
money kings Of the town jostle elbows daily
and the local Napoleons OF a ance play
shuttlecock with thousands as the object OF
their battledoor.
Just now Richmond Terminal affairs fur
nlsh the most interesting topic ION the
street." The feeling among the brokers is
hopeful one Most of them look upon the
men at the back Of the company as too
strong TO let 1t 60 TO the wall Then, too,
1t is admitted that there is much truth in
the claim that owing to recent monetary
tightness, now rapidly passing away, it has
been almost impossible for any of the big
railroad corporations to float new securi-
ties at a reasonable price. The heavy in
lux OF money from Europe is sure to make
next year much brighter than the one now
drawing to q close.
Abiding to the affairs Of the Terminal
company the New York Journal of
Finance of Wednesday says: insiders
have come forward aud pledged all the
financial assistance necessary without any
sacrifices being made by the company. 1t
appears now that while the Terminal itself
has no floating debt whatever its auxiliary
properties have securities whose market
value is twice the entire floating
debt Of the whole system. Gen.
Samuel Thomas is credited with the
new deal in the company's interest. Presi-
dent Frederick P. Olcott Of the Central
trust saw no reason, he said, for calling in
outsiders to render assistance. The com
| psny needed no such aid. 1t was far from
being the hopeless concern some members of
the outside committee had pictured it. 1t is
probable that inspiring address to the
company's stockholders will be issued soon.n
With settlement Of the Terminal affairs
all the securities of the Central Railroad
Company are bound to advance, and the
| effect will be reflected on every other stock
and bond dealt in on the local market.
Citizens Bank stock has been changing
hands at lively rate lately. Many shrewd
buyers look upon it as one of the most
tempting investments on the market. 1t is
said to be worth several points more on the
books than IL is selling at. Savannah
Bank and Trust Company stock is also
looked upon as good purchase.
Chatham Bank and Chatham Real Estate
and Improvement Company stock, series
A, are two securities that there is always
more or less inquiry for.
One of the big brokers of the town had
orders for long list of good investment
bonds yesterday. This indicates easier
money.
Theodore Gordon belongs to the class of
brokers who help town. He always looks
on the bright side OF the market. Savan-
nah don't want croakers in any line. Most
OF them own little or nothing, and, there
fore, have nothing at stake. Their only
influence, II they have any, is to shake con-
fidence, in most cases unjustly aud unneces-
sarily.
Merchants and Mechanics loan stock has
many friends who think it a purchase with
big future.
Considerable Excelsior Loan has changed
hands recently at better prices.
The National Bank Of Savannah is doing
big business and there is a good market
for its stock. Its officers are the kind of
men who make friends and hold them.
Rumor says that the next dividend will be
on the basis of Z per cent.
The declaration of 3 per cent. dividend
improves the feeling on electric light stock.
There's little inquiry for South western.
January dividends will put over $500, 900
in circulation. This should help the local
monetary situation materially.
City bonds are always more or less In de-