The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-26
FINANCIAL.

$50 &C nlEnHF.
Rough-45caSl.2 20 per bushel.
FINANCIAL.
Money is steady. with a fair demand.
Domestic Exchange The tone Of the
market is steady Banks are buying at par
anu selling at Is per cent. premium up TO
5000; over 5000 at sl00 per 81 600
Forelgn EXchange-Market firm. The
ionoWlng are net Savannah quotations.:
S q sfil n, demand, $iS73s sixty days,
steadyi francs, Paris and Havre. sixty
days, S.l9i3; Swiss. sixty days, $52Os4
marks, sixty days. 95 lie
SecurltleS-The market is quiet
State Bonds-Geo9gia, AZ per cent, 1915,
10 bid, ll6 asked: Georgia. per cent,
1870, l9o bid, JOG asked; Georgia Sh per
cent. long dates. lO2 bid 103 asked.
City Bonds-New Savannah 5 per cent.
July coupons, 1861 bid asked: new Sa-
fh .;i per cent, August coupons, 1854
Railroad Bonds-Central Railroad and
Bahklng Company collateral, gold 5s 90
pld, 20 asked; Central consolidated mort
gage per cent coupons, January and
July maturity, l23 bid, asked; Savan-
nan ana Western railroad. per cent. trust
SeTuneates, a bid So asked; Savannah
AIle Tlcus ana Montgomery per cent, 81
old, % asked; Georgia railroad per cent
ISIg' Diq, 10 asked; Georgia Southern
anu anu FLORIDA first mortgage per cent. "a
oiu, 20 askeds montgomery and Eufaula
nrst mortgage per cent. indorsed by
central railroad. l0l bid, 1O2 asked; Au-
gusta and Knoxville first mortgage 7 per
cent, 70 bid, 100 asked; Ocean Steamship
3, per cent, due 1920, 97la bid, 9SIb asked:
columbus and Rome first mortgage bonds
in lI.o5. by Central railroad. = bid. 43
asked columbus and Western S per cent
guaranteed. ITO bid. 1l2 asked; City and SUI
DurDaN railway, first mortgage Z per cent
q Dld, - asked; savannah and Atlantic
per cent, lndorsed, 10 bid, % asked; Flee
trlc railway first mortgage 6s, 30 bid, IS
asked; South Georgia and Florida Fl rst
mortgage Z per cent, 1O6 bid, lO7 asked;
4
gage, 100 bid, lO6 asked; South Bound rail-
Toau 9s, lndorscd. "A bid, &c asked; Ala
bama Midland, SO bid 80 asked; Brunswick
ana western Is, guaranteed, II asked
railroad Stocks-Central common p
pld, 10 asked; Augusta and Savannah 7
per cent, guaranteed. n bid, 81 asked
southwestern Z per cent. guaranteed In.
Guiding order for div, 661R bid, IS asked
central per cent, certif ;ates, with order
Tor defaulted interest. II bid, 49, asked;
Atlanta and West Point railroad stock
" Dld, 70 asked; Atlanta and West Point
per cent certificates SO bid, 81 asked.
Bank stocks, Etc.-CtiZens Bank lO32
bid. 1919 asked Chatham Bank. 4sT hid a
asked; Germania Bank, 1903 bid, lOi asked:
Merchants National Bank, 9Si& bid, 100
asked; National Bank of Savannah. 1872
bid, asked; Oglethorpe Savings and
Trust Company, 100 bid 101 asked; South
ern Bank of the state of Georgia, 164 bid
100 asked; savannah Bank and Trust Com
pany, JOG bid, l07 asked; Chatham Real
Estate ana Improvement Company So
bid, 81 asked: Savannah Construction
tee and Loan Company 79 bid. 81 asked.
Brush Electric Light and Power Com
pany, So bid asked; Savannah Gas
Light Company. 20 bid. q asked
New York, May 25-Money on call was
at 1Qll2 per cent. Prime mercantile pa
per S9a44 per cent. Sterling Exchange
steady, with actual business in bankers
bills at %.SaAS7A for 90 days and 81 ssh
ASSh for demand. Posted rates, AS7lh6l
1852. Commercial bills, "a. SCAT S6@,
Bar silver, sc Government bonds higher
state bonds firm; railroad bonds were
strong. Silver at the board was quoted at
New York May 25.-The treasury bal
ahces were as follows: Coin, $S3, $4,000; cur
New York, May 25-The weekly state
ment of the associated banks show the fol-
lowing changes: Reserve, increase, 50. $751;
$50; loans. increase. A795, 500; specie, in
crease, $1S8, 300; legal tenders, increase
$3.50 goo; deposits, increase. sS.125OO0; cir
culation, increase, $54 400.
Inc banks now hold $39, 975,150 in excess
of the requirements of the % per cent rule
Commenting upon the foregoing state
ment the Financiers says: 1T is evident
that the banks of New York this week are
accommodating money faster than they can
loan It out The increase in loans is a
favorable indication of increasing bust
ness, but the rate for funds is so low that
It Is possible that New York is doing a
large share of business usually transa cted
by banks at other places. Loans have ex-
in the same time have increased S57. 800, 600
and the excess reserve is S21 .000. 900 larger
The ACCUMULATION of money at this center,
IN view of the unquestioned advance in all
lines of business, is not easily explained,
and cannot be accounted for on the mere
supposition that trade balances are being
settled. one year ago this month, when
business was generally depressed, the New
York banks were carrying only $4,000 900
more in deposits than at the present time
and the excess reserve was then nearly
$50, 900 900.
Naturally the large volume of loans
over 100000, 000-is proof conclusive that
somebody is finding use for money, but the
fact remains that idle funds are increasing
for the want of borrowers. Still two or
three weeks further increase in loans such
as has been reported Tor month past, will
make that item the largest ever known in
the history of the New York banks, and If
there is a cessation of interior shipments
to this point the market Will quickly re-
cover its tone New York, however, can
not use all the money in the country, and
the Increase of $Sl25,OOO in deposits was
anything but welcome. The gain in cash
during the week was made up of So, 5000
in legal tenders and S7SS, 800 specie. The of
ferings of money while active. seem TO be
regulated to avoid, If possible, long re-
turn to the ] per cent rate
New York May %, noon.-Erie, 13%:
Northwestern, 9S12; do preferred, IA; Lake
Shore, 146; Norfolk and Western, preferred
Is. Western Union. 92st: Southern Pail
way, common, 14ls; Southern Railway. pre-
ferred, S9ai American Sugar, HISS; Balti-
more ana ONO. b4s Cahala Southern, o.,
ST. Paul. SIS; Rock Island, 69ls; Delaware
and Hudson, 1919; Delaware, Lackawanna
and Western, 1854 Manhattan, 115si Mich
igan Central, 1904 New York Central, 1902
New York May 25.-On favorable crop
news and a further break in wheat, stocks
show a rising tendency. The strong fea-
lures were Burlington, Lake Erie and
Western. common and preferred Minneso-
Ia, and St Louis, old and new stocks.
Texas Pacific American Tobacco, Buffalo,
Rochester and Pittsburg. Jersey Central
Colorado Fuel, Colorado Development
Hooking Coal and Laclede Gas. The rise
in these shares was equal TO Ld3I4 per
cent. Tobacco jumped 81 to l14s4 Lacleda
Ca - % g. Colorado Fuel, IL to ia;