The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-24
FINANCIAL.

FINANCIAL.
Money is steady, with fair demand.
Domestic EXchange-The tone of the
market is steady. Banks are buying at par
and selling at u per cent premium.
Foreign EXchange-Market firm The
following are net Savannah quotations:
Commercial demand, A.SS14 sixty days
A.SlAi ninety days, Sassy; continentals,
steady; francs, Paris and Havre. sixty
days, S5.1sA; Swiss, sixty days, $500
marks sixty days, IS 3-16.
Securities-The market is steady, but
il44 bid. 115k asked: Georgia per cent.
1896, 104l2 bid, 1861 asked; Georgia 49, per
cent, long dates. 10lla bid, 1924 asked
City Bonds-New Savannah per cent
April coupons, 106 bid, 1862 asked; new
Savannah per cent May coupons, 1854
bid 1862 asked.
Railroad Bonds-Central Railroad and
Banking Company collateral, gold IS, 80
bid, 80 asked: Central consolidated mort
gage per cent. coupons, January and
July maturity, Up bid, asked; Savan-
nah and Western railroad 5 per cent. trust
certificates, bid, so asked; Savannah
Americas and Montgomery per cent, AZ
bid, 49 asked Georgia railroad 6 per cent,
1910, 100 bid, 10 asked; Georgia Southern
and Florida first mortgage per cent, So
bid, s6 asked; Montgomery and Eufaula
first mortgage o per cent, Endorsed by
Central railroad, = bid, 102 asked; Au-
gusta and Knoxville first mortgage per
cent, SO bid, 100 asked; Ocean Steamship
per cent, due 1920. 97l5 bid, 9S1k asked
Columbus and Rome first mortgage bonds,
indorsed by Central railroad. bid, 4S
asked; Columbus and Western per cent
guaranteed, ITO bid, 112 asked; City and Su.
burban railway first mortgage Z per cent
bid IS asked; Savannah and Atlantic 5
per cent indSrsed; u bid Is asked Elee-
asked; South Georgia and Florida first
mortgage Z per cent, l09 bid ITO asked:
South Georgia and Florida second mort
gage, i0S bid, 109 asked; Alabama Midland
: bid. 81 asked; Brunswick and Western
As. guaranteed, 72 asked.
Railroad Stocks-Central, common, u
bid, 1412 asked; Augusta and Savannah Z
per cent, guaranteed, 70 bid, 81 asked;
Georgia, common, 157 bid. l59 asked South
western Z per cent; guaranteed, including
per cent. certificates, with order for de-
faulted interest 16 bid, is asked; Atlanta
and West Point railroad stock, 81 bid, So
asked; Atlanta and West Point per
Bank Stocks. Etc.-Citizens Bank.
10l1s bid. lO213 asked; Chatham Bank,
70 bid; 46 asked; Germania Bank
Bank, 81 bid, 80 asked; National Bank
of Savannah, 1871 bid asked
Oglethorpe Savings and Trust Company,
9S bid. 100 asked; Southern Bank of the
State of Georgia, 1854 bid, 1855 asked; Savan-
nah Bank and Trust Company, los bid log
asked; Chatham Real Estate and Improve
ment Company, % bid, So asked; Savan-
nah Construction Company, 76I5 bid, Is
asked; Title Guarantee and Loan Com
pany, n bid, 70, ex-dividend, asked.
New York. March 23.-MOney on call.
2G2l2 per cent; prime mercantile paper,
4A@5A per cent. sterling exchange firm
with actual business in bankers bills at
$4S7%q4.SS for sixty days and $4.894 for
demand; posted rates, a.Ssia9490; COM
mercial bills, $4.S6%G4.S7; bar silver, 63Ac;
government bonds were firm; state bonds
were dull; railroad bonds were active
and strong; silver at the board was 6398
New York, March 23-The treasury bal
anceS were as follows: Coin $S7, 965, 600:
currency, $685. 10000.
New York. March 23.-Weekly statement
of the associated banks shows the fol-
lowing changes: Reserve, decrease, S., AS. :
275; loans, decrease, 4,351. 800; specie, de-
crease, 81, 45S,2O0; legal tenders, decrease,
1851, 400; deposits, decrease, ,449 800; cir
culation, increase, $70,S00. The banks now
hold Sl4, 146,5O0 in excess of the require
ments of the % per cent. rule.
The Financier, reviewing the forego-
ing statement, says the excess reserve is
the lowest for two years. The statement
If 1t reflected actual and legitimate
changes in the condition of the New
York banks, might be regarded as unfa-
vorable, but as the matter stands, it is
simply impossible to determine how the
various totals were brought to show the
heavy decreases noted. The only plain
feature of the case is that money is
going out of New York banks or has been
ordered out by checks which have not been
put through for collection. In two weeks
the New York banks have reported a
loss of Sl3,372, 300 in cash, of which Sl1 =
269, 200 was legal tenders, and 81 100, 500 spe-
Gle. The destination of this money is a
mystery. 1t did not go into the treas ury.
as the records of the fourteen days show
In fact the treasury's gold holdings have
decreased in the last week between 50 O0O =
900 or S4 900, 600, exclusive of an increase
$3.50 900 IN gold certificates. The only eXpla-
nation is that the cash has been transfer
red to places where it can be locked up to
await the pleasure of the bond syndicate,
the members of which have no doubt
withdrawn the money as they have re-
ceived payment for their bonds. The mon
ey could not have gone to the interior as
the banks have gained from that quar-
ter, although the receipts have been much
as a cheering sign of better business The
per cent. of loans to depositors is now
1892 per cent, as against Sl.SS per cent
New York, March %, Noon.-Erie. o:
Northwestern, 9lB; do preferred 1874;
preferred, l2A; Western Union, $685.
Southern Railway common. 121s; Southern
Railway preferred 34M American Sugar
99lk; Baltimore and Ohio, "a; Canada
Southern, 49,; St. Paul, 57i4; Rock ISL
and, 6414 Delaware and Hudson. 12Sss /.
Delaware. Lackawanna and Western, 16S
Manhattan, 1895; Michigan Central 81.
New York Central. 95A.
New York, March 23.-Stoclxs opened
somewhat Irregular, a pressure to sell he
ing noted in the Changers and RAILWAYS
generally. owing TO lower cables from
London. The weakness was short lived
however, and soon after II O'clock the
trading became animated, and under a
good inquiry for both accounts. prices
moved up rapidly. There was a material
Increase in outside orders and commission
firms. felt more confident than of fate