The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-23

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Georgia Southern and Florida trust certih-
Gates.
State Bonds-Georgla, ~ per cent, 1918.
10 bid, ll6 asked; Georgia, z per cent,
1870, 10 bid, Jos asked; Georgia 81 per
cent, long dates, l02i2 bid, 1882 asked;
Georgia 512 per cent. 1915, 10l bid, lu2 asked.
cry Bonds-New Savannah per cent,
July coupons, 1919 bid, - asked; New sd
bid asked
railroad Bon1s-Central Railroad and
Banking Company collateral. gold 81 50
bid 100 asked: Central consolidated mort
gage per cent, coupons, January ana
July maturity. 12i bid. asked Savan-
nan ana Western railroads per cent, trust
certificates, 1912 bid. sag asked Savannah
Americas and Montgomery per cent, -
bid, - asked; Georgia railroad per cent,
1910, ll3 bid, ia asked; Georgia southern
ana Florida first mortgage, per cent, ~
bid. 100 asked; Montgomery and Eufaula
nrst mortgage per cent, lndorsed ~
Central railroad l0J bid, Jos asked; Angus
Ia and Knoxville first mortgage Z per
cent, lO0l2 bid, - asked; Ocean Steamship
8 per cent, due 1920 Ii9 bid, 9ol2 asked;
! Columbus and Rome first mortgage bonds,
indorsed by Central railroad, - DID, 80
asked; Columbus and Western per cent.
guaranteed - bid, III asked; City and Su-
| burban railway, first mortgage per cent,
~ bid, 50 asked; Savannah and ATLANTIC
| first mortgage Is. 20 bid, -
asked; South Georgia and Florida hr3t
mg ng q per cent? loS BID, bld; - asked;
mortgage, 105 bid, asked; South Bound
railroad 5s, indorsed 74l5 bid 75lb asked;
Alabama Midland 50 bid, 80 asked; Bruns-
wick and Western As, guaranteed, Il
asked.
Railroad stocks-Central common, 1ra
bid, asked Augusta and Savannah Z
Georgia, common mn 5.'si ia BID I' 1877 asked
Southwestern per cent. guaranteed. in
! Guiding order for div, SO bid, "a asked; Cen
asked; Atlanta and West Point railroad
| stock, 9iia bid. 80 asked Atlanta and West
/ Point per cent certificates, 9il2 bid, IS
Bank Stocks. Etc.-Citizens Bank, Jos
| bid, asked; Chatham Bank, 454 bid
| 49la asked; Germania Bank, lO5 bid, -
asked; Merchants National Bank, 100 bid,
/ 102 asked; National Bank of Savannah, 1870
/ bid, 1873 asked; Oglethorpe Savings and
| Trust Company lO0 bid lO1 asked; SOUTH
/ ern Bank OF the State OF Georgia. 165 bid.
/ l66 asked; Savannah Bank and Trust
Company, JOG bid, 49, asked; Chatham Real
/ Estate and lmproveinent Company 81
| BID. 6l5 asked; Savannah Construction
/ Company, q bid, 75la asked; Title Guaran-
tee and Loan Company. SO bid, 81 asked;
Brush Electric Light and Power Com
pany, SO bid 81 asked Savannah Gas
| Light Company, 20& bid. 21l& asked; Savan
nah Brewery Company, 80 bid. 81 asked.
New York, June 22.-Money on cali was
at 101h per cent. Prime mercantile paper,
SaS19 per cent. Sterling. exchange. firm,
/ with actual business in bankers bills at
! Si.SSlAG4S9 for sixty days and SiS9laG4. S934
for demand; posted rates S4.&aA90. Com
79l. 0G6; balances, S5,S7S,SS
bar silver, 66Ac.
Government bonds were firm; state
bonds were quiet; railroad bonds were
Silver at the, board was 669sa67c
New FORK. June 22.-The treasury bal
ances were as follows Coin, S97slO,00; cur
New York, June 22-The weekly state
ment of the Associated Banks shows the
! following changes. Reserve, decrease,
$1414,G5O; loans Increase, 1850 500; specie,
decrease, $685. 900; legal tenders. increase,
$500, lC0; deposits, increase. S5,6i3,0OO; circu-
| lation, decrease, $685. 900. The banks now
hold $S6. 1850 in excess of the require
ments of the p per cent rule.
New York, Tune 22.-1The Financier says
this week: THE loans of the Associated
Banks of New York city show an unprece-
denied expansion, the increase for the
past week being in round numbers 5000,
coo. When 1t IS recalled that this repre-
sents gain of S32 467, 700 since April 6, last,
less than ninety days in all, some idea
may be formed as to whether money is in
demand or not. Under ordinary circum-
have been followed by a sharp advance in
money rates. but the continued flow Of
currency from the interior prevents an in
crease in ruling quotations.
ON April the deposits in the New York
banks were $500. S22 800. For the week end
ing June p. they had risen to $57l, ass, $50, an
increase of almost S75,000,C0. This enor-
nous gain clearly illustrates why the New
York money market is easy.
L ne greater part OF lDlS money mas come
from the interior, some of it, of course. has
been locked up by a bond syndicate, but
why Il 5 that the New York banks are
breaking all PREVIOUS records, 50 far as
loans are concerned. while interior institu-
tions find no use for current funds except
to send them to New York where they can
earn slight interest, is not to be explained
easily.
a turn in the tide would drain out of the
New York banks great amount of the re-
serve now lying idle, and further result in
! a in nf oh loanf nc hru hE &c
no indications that such an event will oc-
cur soon. When it does come, however,
granting that tine volume of loans re-
mains at anything like its present figures,
the market S bound TO go up and while
currency will be abundant foreign money
might enter the field of competition with
home funds. Rates abroad are even lower
than on this side of the water, and 1t would
require only the slightest variation to
create such condition Of affairs.
The banks, despite the fact that depos-
its during the week increased S. $500
lost more cash than they gained the de-
crease of 1894 coo in specie, being due to be-
lated transfers from depository banks to
the treasury. The weeks operations result
ed in a reduction of 81, 4l4659 in the re-
serve, the excess having fallen $50O0,o00 in
| three weeks.
New York, June %, noon-Erie, 9la;
| Northwestern. 80; do preferred, 1lS; Lake
Shore, 1871; Norfolk and Western pre-
| ferred 1872; Western Union, %; Southern
! Railway, common, 1873; Southern Railway
| preferred, AIS; American Sugar, 11i3s
| BdlumOfe ana ONO, b352; canada south
ern, SO; St. Paul, 6T5s; Rock Island. 72ls
| Delaware and Hudson, l29A Delaware,
Lackawanna and Western, 1929; Manhat-
tan, 1872; Michigan Central, l0ll5; New
/ York Central, 1913.
New York. June 22.-The stock mar
ket was controlled by the professional
traders to-day, but it was not until near
the close that these operators were able
to make any impression on prices. At this
| time, however they did succeed in break
ing Sugar from 1171l2 to 1141a and Manhat-
tan from 1l5A to l131s. The drop in Sugar
was due to heavy sales by prominent
| room trader, as well as to n very sensa-
| tional rumOr about liquidatons by lead
ing official of the company now abroad
| Manhattan was sold down on talk of poor
earnings. Metropolitan traction, on the
! other hand, was more active, and rose to
| 10l3s. At the opening the general railway
| speculation was somewhat weaker on Lon
| don selling, the foreigners being disturbed
| by the English political crisis. The loss
in the leading issues, however. was in
| significant a few stocks were strong. es-
peciany New England, Wheeling and Lake
| Erie and Western, Tennessee Coal and
| Iron and Kansas and Texas Pacific pre-
| ferred New England advanced to ana
| 46i2, some of the shorts having been forced
to cover on fears that loaned stock might