The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-30

National Bank. - bid. s1iz asked: National
Bank 81 Savannah. 80 bid. 49, asked. ex-
div. Ogiethorpe Savings and Trust Com
pauy 1u--z bid. 19511 asked. eN-civ., South
ern Bank 81 the state o. Georgia. 1921 bid.
179lz asked. eX-div-. savannah Bank an1
( Trust Company. Us bid. l0a asked
ex-dlv.. Chatham Real Estate and I'm
provemenr Company, A. 8 bid, 534s ask
ed. 3. 5o11 bid. 81 asked. ex-diy.: Peo-
s2ia asked.
Factory Bonds-Augusta Factory IS. 102
bid. l08 asked; Sibley Factory 6s. 10 bid.
Jos asked Eagle and Phenix Manufactur-
ing Company, per cent. bonds, = bid. %
asked.
Factory stocks-savaunah Cotton Fac
tory. bid. . asked. Augusta Factory.
= bid. 50 asked. ex-dlv.. Granite vile Fac
tory. 1f5 bid. 80 asked. Langley Factory.
JOS bid, ITO asked, Enterprise Factory,
commons s. bid. l02 asked. ex-div.: J. p
King Manufacturing Company, 100 bid, los
asked. Sibiey Manufacturing Company. IS
bid. IS asked; Savannah Brewing Com
pany. r bid. 70 asked
London, Aug. zs.-Bar silver. 35sd; con-
soils. I4@sd for money and 112 l3-l6d for
the account.
Paris. Aug. %. $50 D. m.-Three per
cent rentes. l02 francs 72is centimes for
the account
New York. Aug. Z9-loney on call 6 per
cent Prime mercantile paper. SAG per
t#flAA- E9-tl sAllN EAf-ldtlA9E NA4A Win actual
business in bankers bills at StS1z. 04. s21z
for sixty days and s. s31ad4& for demand.
Posted rates 4825 ZaAs5- Commercial bills.
sasJzQ4.6l1z. Bar silver 65ltc. Govern
ment bonds were firm State bonds were
dul. Railroad bonds Were storm. Silver
at the board was neglected
New York, Aug. 29.-Treasury balances
were as follows Coin, S1l2, ass, s57; currency.
S79.7S3 Col.
New York. Aug. 2s-The weekly state
ment Of the associated banks shows the
following changes. Reserve, decrease.
Si36.450; loans. decrease. &3,143.300. specie.
increase, S549 100. legal tenders. decrease,
$2.5l6J1. deposits, decrease, s.. 3G3, 500; cir
culation. increase, $6S9.100. The banks
now mold $500 in excess Of legal re
quirements
New York. Aug. 29.-The New York
Financier says this week: The movement
OF money out Of the clearing house banks
since July IS, has reduced their deposits
1fty-fOur millions. and i'm the same length
OF time loans have shrunk twenty-four
millions. Despite this heavy drain, how
ever, the bank statement for the cur
rent week is repetition in its favorable
features Of the one preceding it, and the
banks. at what might be called the apex
Of the present stringent situation hold
nearly nine millions more cash than the
law requires. Il is true that this cash is
not equally distributed. and that many of
the institutions are below their legal re-
serves, but the showing is encouraging in
many ways
The operations which brought about ths
changes in the present statement are sim
liar to those Of the previous week. The
banks lost heavily to the interior, but
the net decrease Of s.. O27, 400 in cash was
smaller than had been expected. There
was a gain of $4,000 in specie, when
seems to have been made in lots varying
from fifty to one hundred thousand dol
lars among the larger banks.
The sharp contraction reflected through
the statement Is shown in the decrease of
S3,l43, 300 in loans, which was made neces-
sary in order to maintain reserves. Tho
loan contraction and the loss of cash to
the interior Of course decreased deposits,
but the shrinkage of $685. 800 in that
item is apparently larger than the opera
lions mentioned called for
The banks have been taking out new
circulation as fast as possible the in
crease for the week being $3.50, 100 for
100000 of which the Third National and
the American Exchange National are re-
sponsible. 1t is encouraging to note that
the decrease in resrVe was only 1896 $50,
and the excess is still 1886, 200, which is
above the average at this season for
long series Of years preceding the 1893
panic. The heavy inflow Of foreign gold
now aggregating nearly fifteen million
dollars, will have a marked effect on sue
ceeding bank statements and money
rates promise to fall materially before the
end of the season. There is no doubt that
the imports will continue until the legiti-
mate demand for money Is fully satisfied.
Nothing but an unforeseen panic can put
rates back TO the figure they have held for
several weeks past