The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-06

Gas Stocks-savannah Gas Light stock.
| 90 bid. q asked; Electric Light and Power
| Company, IS bid. 60 asked.
Bank Stocks. Etc;-citizens Bank. 1lOIl
bid, 111A asked; Chatham Bank
46ls bid, 471S asked Germanla Bank.
| lO7 bid, 1O75z asked; Merchants
| National Bank, 30 bid, S115 asked; National
Bank Of Savannah, 100 bid, 1872 asked;
Oglethorpe Savings and Trust Com
pany, 1924 bid. 103Ik asked: South
ern Bank Of the State of Georgia, 1924 bid.
170is asked; Savannah Bank and
Trust Company. 10S bid, 1O4 asked,
Chatham Real Estate and I'm
provement Company, A, SO bid, 5sls ask
ed; B, 5o1z bid. 81 asked; Peo-
pies Savings and Loan Company, 9l1h bid,
s215 asked.
Factory Bonds-Augusta Factory SIS, 1o2
bid, 103 asked; Sibley Factory 6s, 100 bid
l02 asked; Enterprise Factory IS, 1O3 bid,
104 asked; Eagle and Phenix Manufactur-
ing Company, per cent. bonds, - bid, 60
asked.
Factory stocks--Savannah Cotton Fac
tory, bid, 80 asked; Augusta Factory,
n bid, 50 asked, ex-div; Granite Vile Fac
tory, l45 bid, $50 asked; Langley Factory,
lOS bid, ITO asked; Enterprise Factory,
common. 80 bid, 102 asked; ]. p.
King Manufacturing Company. los bid. lO8
asked; Sibley Manufacturing Company. rs
bid, Is asked; Savannah Brewing Com
pany, - bid. rs asked.
London, Sept. 5.--Bar silver, 305sd:
for the account.
New York, Sept. 5.-As Monday is a le-
gal holiday the stock exchange, banks and
financial institutions will be closed
New York. Sept. 5.-Money on call was
nominally steady at per cent. Prime
mercantile paper, per cent. Sterling ex-
change, steady, with actual business in
bankers bills at S4S2Ad4s23t for sixty
days, and $4.S4q4S4A for demand; posted
rates, $4,S3q4 IS. Commercial bills, S4.Sl%
G4S2A. Bar silver, 66Ac. Government
bonds were firm; state bonds were dull;
railroad bonds were strong. Silver at the
board was neglected.
New York. Sept. 5.-The treasury bal
ances were as follows: Coin, SIG, 2S9, Sal,
currency. $74.7s6,561.
New York, Sept. 5.-The weekly state
ment of the associated banks shows the
following changes: Reserve, decrease,
s60,65O; loans, decrease 2.72O, 10O specie
increase, 81. 1851. 200; legal tenders. decrease,
SO, ga 600; deposits, decrease, "a, 1853 600; cir
culation increase, 1922, 600. The banks
now hold $s,226,5SO in excess of legal re-
quirements.
New York, Sept. 5.-The New York
Financier says this week: Although over
$7.5000OO in gold have already arrived from
Europe, the statement of the associated
banks of New York city for the week end
ing Sept. 3, shows a gain of only 81, $751; 200
in specie. However over 100000 of this
gold arrived too late to be included in the
current statement. From this time out the
banks should begin to reflect the full ef-
fects of the heavy shipments.
The statement otherwise is a repetition
Of those for three weeks previous. The
banks are losing heavily to the interior.
and are making up for the Withdrawals of
cash by contracting their loans and are
also taking out as much new circulation as
possible, to tide over the present stringent
cy. Just how long this policy of contrac-
ton could be continued without serious
results is a question. but fortunately the
supply of gold received or now in transit
viii render further action of this kind UNI
necessary. The bank statement does not
show it, but the imports of gold are al
ready easing the situation to a considera-
BILE extent. The banks still hold sS,22S $50 in
excess of their legal requirements but the
trouble is that the surplus is unevenly dis
tributed twelve of the national banks still
being below the % per cent. reserve, one
of them, the National Citizens, shows only
1876 per cent.
AS for actual operations the banks lost
$3,6746O0 in legals and gained 1851 200 in
gold. The loss in cash, therefore, was 81
S2S. 400 which, considering the magnitude
of interior shipments is rather small. The
one favorable feature which the weeks re-
suits show is that Withdrawals for hoard
ing do not figure to any extent. The de-
crease in deposits was $i,S63OOO. caused by
loan contractions and the movements
above stated. That the loss in cash at this
season is not abnormal as shown by the
fact that the interior demands last year
from Sept. Z; to Oct. 26, decreased deposits,
SAG, 100000.
The increase in the circulation of the
banks for the week was S924,OO0 the Fourth
National, Third National and Western Ma
tional making large increases. Since the
first week in August, the banks have taken
out IS, IFS. 500 new circulation. Whether as
in 1893, the notes will be returned almost
unused is not known, but further eXpan-
sion, in view of the heavy gold imports
would seem unnecessary as the profit on
1t is only fractional.