The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-27
THE MORNING NEWS: SUNDAY SEPTEMBER 81 1896

common. % bid, 100 asked; J. P. King
Manufacturing Company. go bid, l03 ask
ed; Sibley Manufacturing Company, 70
bid, IS asked; Savannah Brewing Com
pany. bid 75 asked
London, Sept. 26-Bar silver, 80 5-16d.
Consols. 1894 for both money and the &C
count.
New York Sept. 26.-Money on call was
at per cent Prime mercantile paper.
per cent. Sterling exchange was steady.
with actual business in bankers bills at
81 sliz for sixty days and 81 S4% for de-
mand; posted rates. 81 .s2d4.s 412. Com
mercial bills. 81 S0Gl4 .8lL Bar silver,
s57sc. Government bonds were higher;
state bonds were dull; railroad bonds
were strong Silver at the board was
steady.
New York Sept 26.-The treasury bal
ances were as follows: Coin, sl27, 246, lSS;
currency S5S, 81.
New York. Sept. 26.-The weekly state
ment Of the associated banks shows the
following changes:
Reserve increase, s.. 751. $50: loan, le-
crease, $1,34S. 90; specie increase, 1895. 600;
legal tenders, increase, 50. 464, 200; deposits,
Increase. $685., go; circulation, increase,
Si58OOO. The banks now hold $1421e, O25 in
excess of legal requirements.
New York, Sept. 26.-The New York
Financier says this week: The easiness
in money rates. which was a marked
feature Of the situation last week, is suf-
fioiently explained by the statement of
the clearing house banks for the week
ending Sept. g. The actual gain In cash,
according TO the statement, was 1885. 600.
While an explanation Of the details
which brought about the changes noted
above might be interesting, the results
foreshadowed are more important. The
banks are at last beginning to reflect the
influence Of heavy gold shipments, and
this, too, in the face of an unusually
heavy crop movement, which, without the
imports of specie, would long ago have
wiped out the surplus reserve.
AS the interior movement is lessening,
domestic exchange at important centers
having fallen materially last week. the
only inference is that the surplus reserve
Of the New York banks will continue TO
show large gains from now on.
The government Will, in a few days,
disburse large amount Of interest due
on all bonds. Nearly 100000 is stiH in
transit and in addition there will soon
be a return flow Of money to New York
from interior cities This indicates a
lower money market, and it is important.
as foreshadOwing an interruption of gold
imports; but on the other hand the loans
Of New York banks are S66.0OO.OO0 lower
than for the corresponding week OF last
year, and the loans of all other banks
have been contracted. A revival of bus
mess after election. therefore. would re-
quire large amount Of the surplus idle
funds. and strengthen the market ma
terially. This now appears probable, al
though the loans Of the New York banks
fell off sl,34s,2o0 last week payments of
gold loans by gold importers and certain
out Of town banks. Probably liquidation
of loans, due TO the former souce. kept
the item as high as It has been reported
for several weeks past. Since July last
New York banks have taken out over
$4,000 Of new circulation which is do
ing good service throughout the interior,
but contraction will probably follow
before the FIST of the year. The present
surplus of S14,216,O25 is the highest re-
ported since Aug. 8 last It is higher
than reported in March, 1885, following a
bond loan when money rates were very
much lower"
Comparative table