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

nrmi prices unchanged
FINANCIAL.
Money is steady, with fair demand.
Domestic Exchange-The tone OF the
market is steady. Banks are buying az
par and selling at a per cent. premium
from 500 to 5000; for larger amounts.
Foreign Exchange - Market firm.
The following are net Savannah QUOTA
lions: Commercial. demand, Sass; sixty
day, A.9; ninety days. A.e61s; conu-
Havre, sixty days. s5i@s; Swiss. sixty
days, Sl9St marks sixty days, 50.
Securities-Market is quiet and dull.
state Bonds-GeOrgia,4 AZ per cent, 1915,
ia bid, 1l5 asked: Georgia per cent,
1896, 1914 bid, 1857 asked; Georgia Sis per
cent, long dates, 1919 bid, l0Zle asked.
city BOnds--New Savannah s per cent.
April coupons, ic5la bid 1862 asked; new
Sagannah per cent. May coupons, lU0'5
Railroad Bonds-Central Railroad and
RANKING company collateral gold 5s, 30
bid, IS asked; Central consolidated mort
gage z per cent coupons. January and
July maturity. l20 bid, asked; Sa-
yannah and Western railroad per cent
trust certificates, 90 bio 81 asked; Sa-
Yannah. Americas ana Montgomery 6 per
cent, 40 bid, 50 asked; Georgia railroad
6 per cent. 1910. 100 bid, 40 asked; Georgia
Southern and Florida, first mortgage
per cent. So bid. So asked Montgomery
and Eufaula first mortgage 6 per cent,
Endorsed by Central railroad, l02 bid, l03
asked; Augusta and Knoxville first mort
gae per cent, no bid. l02 asked;
Ocean Steamship 5 per cent. due 1922, s7is
BID, ySls asked columbus and Rome first
mortgage bonds, Endorsed by Central rail-
road, - bid, 43 asked: Columbus and
Western per cent, guaranteed, l07 bid,
40 asked; City and Suburban railway first
mortgage Z per cent, bid IS asked:
Savannah and Atlantic per cent, in
dorsed, 10 bid, 20 asked; Electric railway
first mortgage 6s, bid, asked: South
Georgia and Florida first mortgage I per
cent, 109 bid, 10 asked; South Georgia and
Florida second mortgage, Jos bid, 1903 asked;
Alabama Midland, SSle bid. 81 asked.
asked.
Railroad Stocks-Central, common. 12lb
bid, 15bz asked Augusta and Savannah Z
per cent, guaranteed, 70 bid, 81 asked;
Georgia, common. l5l bid 159 asked; South
western per cent guaranteed including
order for DIV, 6S bid 60 asked; Central
per cent. certificates, with order for de-
faulted Interest 10 bid. 10 asked Atlanta
and West Point railroad stock, 81 bid, Sc
asked Atlanta and West Point per
cent certificates, 81 bid, SO asked.
Bank Stocks. Etc.-Citlzens Bank,
1olh, bid, lo2la asked; Chatham Bank,
lO21a bid 1O315 asked; Merchants National
Bank, 96is bid 80 asked; National Bank
OF Savannah, 100 bid, asked (;
Oglethorpe Savings and Trust Company
80 bid 100 asked; Southern Bank Of the
State of Georgia, 1853 bid, 1G5 asked Savan-
nan banK ana trust company, 100 BID, lO5
asked; Chatham Real Estate and Improve
ment Company, 50 bid, 50 asked Sa-
Vannah Construction Company IS bid
76 asked; Title Guarantee and Loan Com
Atlanta, March 2.--Clearings for the
week, 81, 900, 66S.
London, March 2.-Bar silver was quoted
New York, March money on call
was at 2@2h per cent. Prime mercan tile
paper, t3RGs5 per cent. Sterling exchange,
firm, with actual business in bankers bills
at S4Tih for sixty days, and S4.S9 for de-
msnd; posted rates, 81. SSla04.S9. CONNER
eial bills. A%; exchanges, STATES, asS;
Ill, 500 creditor at the clearings house.
Bar silver, 60iAc.
Government bonds, steady; state bonds
were dull; railroad bonds were lower.
New York, March 2.-The weekly state
ment of the Associated Banks shows the
following changes: Reserve, decrease,
Sl,I6S2 25; loans, increase, S,58S,700; specie,
decrease, 81, S44.200; legal tenders, increase,
SO, 406 200; deposits, decrease, $l19, 100; cir
oulation, increase, H55,900 The banks
now hold S2S054 500 in excess OF the re-
quirements of the rs per cent rule.
The F1nancter, commenting on the
above statement, says; AS a result of
the weeks operations, the reserve de
creased 81, 76S, 225. The statement does not
balance The banks gained through the
interior movement during the week about
S,725 coo in currency, but lost at least 49,
100000 to the sub-treasury on account of
deposits of specie incident to the consum-
nation OF the bond syndicate deal, max
ing the net loss for the week over $780,
The increase of S4s44,2OO in specie was
due entirely to Withdrawals for treasury
deposits, but the increase of S3,046,2O0 in
legal tender does not seem clear unless
legal tenders have been paid to the banks
in exchange for gold. The increase of 81 =
5SS 200 in loans is a very favorable feature
of the statement, but there is reason to
believe that this, too, was in part caused
by the bond operations. At any rate the
increase must result in gains to the banks,
and is Of larger volume than has been
reported for some time. The banks now
hold in excess of their legal reserve SOS -
054,50, and the amount has been decreas-
ing regularly Interior receipts are also
of lesser volume, and the sudden jump in
money rates one day last week was in
a measure indicative of what may be ex-
pected If the banks reserves continue de-
Ginning. Rates for loans are still low
but hardening of the money market is
not improbable, especially as the reserve
is only about one-third the amount re-
ported for the same week last year The
importations of gold from Europe viii
not swell the bank totals, as this money
goes directly into the treasury"
New York, March ?, noon.-Erie So
Northwes tern, S1sa do preferred lSS; Lake
Shore, 1855; Norfolk and Western, pre-
ferred, 10; Western Union, SIS; Southern
Railway. common, 10; Southern Railway.
preferred, 81; American Sugar, 9234 Bal
timore and Ohio, 81; Canada Southern,
47S4; St Paul, "a; Rock Island, 615s; Della
ware and Hudson, 1852; Delaware, Lack
awanna and Western. 1874; Manhattan
lQ61a; Michigan Central, sll2; New York
&CAAIdlr Su1f.
New York. March 2.-The advance in
sterling exchange and the receipts of
lower prices from London led to a general
decline in the local stock market at the
opening. The foreign selling confined to
St. Paul Louisville and Nashville and
Northern Pacific, preferred, but the trans
actions for European account were small
Local traders also sold Louisville and
Nashville, the Changers, General Electric
and Jersey Central. and a decline of Y
to per cent. followed Louisville and
Nashville declined to AIS; St. Paul l TO
q; Northwest, Is to S7A; Burlington Il to
Co.'S; Rock Island, * to 6l%; General Flee
trio and Jersey Central, X to 1875 The last
named subsequently recovered to S45S Su-