The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-05
FINANCIAL.

Investors in local securities during the
past year found profit in their transac-
tons During the early part Of the COM
mercial year, values steadily hardened,
and the demand for all kinds of securities
was good. During the last six months,
however the market was quiet, the un-
settled conditions Of the money question
having its influence upon those who other
wise would have been investors in the
general lists Of stocks and bonds.
1t is with satisfaction that it can now
be said that the financial outlook for this
city and section is fairly good. The rail-
road facilities are of the best and all of
the roads are now on a solid basis.
The crops contiguous TO this port are
good, and the movement of cotton is fairly
begun. The facilities offered to move the
crop are of the best, and every effort will
be made to bring to Savannah her full
share of products. The cotton crop of the
Atlantic states is expected to be marketed
quite early and rapidly this season.
The price of cotton has been advancing
and it is confidently expected that money
will rule easy in the Southeastern Atlantic
states
1t may be remarked as an evidence of
the solidity OF this community, that large
amounts of Georgia state bonds held in
New York city have lately been sold in
this city at fair prices.
1t is confidently expected that the new
securities of the Central of Georgia Rail-
| way Company, which were received in ex-
| change for the old securities of the Cen
trial Railroad and Banking Company, I'M
| der the reorganization plan, may, in a
short time command good prices. The
roads prospects are good, and with a
years good business, interest may be ex-
! pected on some of the incomes.
While the volume of the transactions
| through the clearing house shows a de-
| crease during the few months ending the
commercial year, as compared with the
same period in 1895, there was a decided
increase in the amounts during the fall
and winter months. The decrease In the
volume of money, during the recent
months. is easily accounted for by the
unusual conditions of trade during that
time. The early movement of the cotton
crop last fall and the reduced receipts
during the spring and summer. left no
stock to be bought therefore, this item
| was one of prominence in the decrease of
bank clearings late in the year. The to-
tai clearances for the year show an in
crease of about 100000. demonstrating
that Savannah, Notwithstanding the gen.
eral depression. is steadily improving in
her commercial Importance.
Another feature presented itself in the
naval stores market. While the volume of
the products handled was greatly In ex-
cess of the previous year, the very low
prices materially effected the amount of
money required TO transact the business.
A careful estimate shows that during the
past six months, It required $25O,OOO less
per month to move the same amount of
spirits turpentine and rosin than it did
in 1896
The same conditions were shown in the
general wholesale departments of trade. A
much larger business was done. the move
ment showing an increase of 80 per cent.
over the previous year. while the exceed
ingly low prices which prevailed. cut the
volume Of money required to conduct the
trade.
A better idea OF the situation may be
obtained from the tables published here
with. The following table by months
shows a statement compared with that OF
last year. Of the clearings of the associat-
ed banks. While the figures do not rep
resent the actual business Of the port.
they approximate fairly a good percen-
tage
1866 1sq4-q5