The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-03
FINANCIAL.


MOney-Steady.
Foreign Exchange-The market. was
firm The following are net Savan-
nah quotations.: Commercial demand.
4s4; sixty days. AS7h; ninety days.
days, Sis; Swiss, sixty days, $5l95s;
marks, sixty days, 50 1-1s.
domestic eXchange-The tone Of the
market is quiet. Banks are buying AT
par and selling at Lilo per cent. premium
for amounts Of $1,000 and over.
Securities-The market was steady, with
an increased demand for old line invest
Stocks and Bonds-state Bonds-Geor-
sldp ga per cent. bonds of 1890, I02 bid,
lU2# asked; Georgia 315 per cents, due 1915.
maturity 1886, 1919 bid. 1922 asked; Georgia
AZ per cent. bonds. 1916 1l41a bid, lbs asked;
South Carolina 4l5s. 10S bid, 1854 asked.
City Bonds-A tlanta per cent, l07 bid
Jos asked; Augusta 4i5s, 1925, 105 bid, JOG
asked; Augusta z per cent. III bid, ISL
asked Augusta per cent, 1l2 bid, III
asked; Columbus per cent lO3 bid 1O9
asked; Macon per cent, l14i5 bid, 1851
asked; Savannah per cent, quarterly
July coupons los bid l0Sia asked; Savan-
nan per cent, quarterly August coupons
dgS BID, lOSA asked; Charleston As. So bid,
Railroad Bonds-Savannah, Florida and
Western railroad general mortgage bonds
o per cent. interest coupons, 1I3ik bid -
asked Atlantic and Gulf first mortgage,
asked; Central Railroad and Banking
Company, collateral gold IS. ssh bid,
railway first mortgage SIS, 1915. iii bid
III asked; Central Of Georgia railway
,eons6olidated IS, 50-year. gold bonds, IS
first preferred incomes, 30 bid 81 asked:
Central Of Georgia railway second pre-
ferTed incomes, l415 bid, 15s asked Cen
comes, w bid, 1917 asked; Georgia railroad
Charlotte, c5olumbial and Augusta sSsg;
Charlotte Columbia and Augusta y second second
mIortgage as, ll5 bid, l16 asked; Georgia
southern and Florida new IS, 90 bid, "
asked South Georgia and Florida first
mortgage Is 106 bid, asked: south
Georgia and Florida, second mortgage IS
iO5 BID. asked Savannah. Americas
ocean Steamship g per cent. bonds, 1920
100 bid, lh asked; City and Suburban
railroad first mortgage per cent bonds
due 1885. 1919 bid, 2li5 asked; Alabama Nil
land per cent; indorsed, IS bid, 80 asked;
asked South Bound railroad as Gb I6
% asked; Southern Railway IS, 9slh bid
S4l3 asked Georgia aud Alabama s. con
soils, % bid "a asked.
Railroad Stocks-Augusta and saV,an-
nah, &l2 bid, sSla asked; Georgia common
10 bid, 155 asked; southwestern, 9i9t bid.
92A asked; Atlanta and West Point RAN.
West Point per cent. certificates, 1Olb
bid, 1os asked; savannah va Construction
y a., asked
Gas Stocks-Savannah Gas Light stock.
23A bid, "a asked; Electric Light and Pow.
er Company. 625a bid, 69la asked.
Bank Stocks, Eac.-Citizen's Bank 11s
bid. 1872 asked; Chatham Bank 5eH ma
so asked; Germania Bank, 100 bid no ask.
ed; Merchants National Bank, 1924 bid
1882 asked; National Bank of Savannah
1Sfla bid 1876 asked; Oglethorpe Savings
and Trust Company, 1861 bid, i075b asked;
Southern Bank of State of Georgia. III bid
1T2 asked; Savannah Bank and Trust Com
asked. Chatham
tate and Improvement Company, A "a bid
5iib asked; y, oil bid, 51ia asked; Peoples
Savings and Loan Company 9lls bid, 921s
Factory Bonds-Augusta Factory Gs 1914
bid, LOG asked; Sibley Factory 6s, 10lls bid,
1854 asked; Enterprise Factory IS. lO5 bid,
JOG asked; Eagle and Phenix Manufacture
ing Company, per cent bonds. - bid, 50
asked.
tory, 49, bid, SO asked; Eagle and PheniX
Manufacturing Company, bid. 10 asked;
Augusta Factory, Is bid, Is asked; Gran
iteville Factory 1850 bid, 155 asked; Lang
lev Factory, los bid, no asked Enterprise
Factory, common, 100 bid 105 asked; J. j.
King Manufacturing Company. los bid, 10
bid, 50 asked Savannah Brewing Company
bid, 70 asked.
London. May 2.-Bar silver, 81 lied;
consols, 1111sd for both money and the ac-
count. Paris advices. quote per cent.
rentes, 102 francs; 50 for the account.
New York, May 2-Money on call was
at 2 per cent IFlm6 mercantile paper,
5IIG6 per cent. Sterling exchange dull;
unchanged, with actual business in bank
ers' bills at $4.S734@4SS for sixty days and
$4Ss24G4.S9 for demand. Posted rates,
ST. SSi%Q490. Commercial bills, SAs764. S7ll
Bar silver, CSC. Government bonds were
steady; state bonds dun; railroad bonds
easier. Silver at the board was neglected
New York, May 2.-The treasury bal
ances were as follows: Coin, Sl25, 907 6S8;
currency, $84,576,O OILS.
New York, May 2-The weekly state
ment of the Associated Banks shows the
following changes:
Reserve, increase ..................$2 265, 800
Loans, increase .'..''.......'....... S,S6O, 500
specie increase .......-,............ S2l, 400
Legal tenders, increase ......,...... 1867, 100
/ Deposits, increase .................. 1881, 500
The banks now hold S22,sl4275 in excess Cess
of legal requirements.
New York, May 2.-The Financier saws
this week: The statement of the associa-
ted banks of New York city for the week
ending May ? shows an expansion in every
item. The statement is a good one viewed
from one standpoint, hut il indicates that
money rates cannot be maintained at any
/ thing Ike the record made so far this
/ year unless sudden check is put on the
/ heavy movement Of currency to this point
/ This of course, is not to be expected as
: the outlook faVOrS a continued heavy ac-
/ emulation Of funds at New York. The
withdrawal OF over 100000 from the de-
! pository banks bt the treasury is not ex-
/ pected 20 have much influence in strength
/ ening rates. The shipment Of 81 go 600
/ specie Saturday, in view of the decline in
/ the rates was very moderate and the con-
/ tinued inflow of currency, at present NAV
/ cause heavier shipments until new fea-
/ lures not considered probable now are met
I with. The expansion of loans which he
gan several weeks since still continues.
and as rates decline the volume becomes
larger. The increases for the past week
/ brought the total 10 $40 SIS, 800 an eNpan-
/ sion of almost S25O00O00 since
/ the low point reached. Feb last when
the banks had curtailed business al far as
| possible In preparing for the bond loan
+ The effect of the inflow of the CURRENCY
/ is seen in the gain of 81. 1SS 500 made bv the
4 banks during the week despite the fact
! that I,500000 were paid into the treasury.
! and as much more withdrawn by gold ex-
/ porttrs. The increase in deposits was ST. -
69L60O and the reserve expanded 81 265 go
+ The only Interpretation TO be put upon the
\ statement is that unless influenced by out
/ side conditions, the ruling rates for funds