The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-13

127 bid, 1870 asked: Oglethorpe Savings and
Trust Company, 100 bid, 10l ask
ed, eN-div.. Southern Bank of
the State of Georgia, 1853 bid,
III asked; savannah Bank and Trust Com
pany, 1O1 bid. 102ls asked; Chatham Real
Estate and Improvement Company, A. 81
bid, asked; B, 50ia bid. SIG asked; Peo-
pies Savings and Loan Company, 81 bid,
SO ssked
Factory Bonds-Augusta Factory, 6s. 100
bid, l02 asked; Sibley Factory 6s, 100 bid.
l01 asked; Enterprise Factory 6s. 1O1 bid.
102 asked; Eagle and Phenix Manufacture
Ing Company per cent. bonds. 40 bid, so
asked.
Factory Stocks-Savannah Cotton Fac
tory, - bid, so asked; Augusta Factory, n
bid SO asked, ex-div. Graniteville Fac
tory, las bid, $50 asked; Langley Factory,
100 bid, 105 asked: Enterprise Factory,
common, 95 bid, 100 asked; ]. p King
Manufacturing Company, 1902 bid, 1O5 ask
ed; Sibley Manufacturing Company, 70 bid,
n asked; Savannah Brewing Company, 81
bid. 81 asked.
London, Dec. 12.-Bar silver. sod. Con-
soils, Ill 1S-16d for money and 112 1-16d for
the account.
Paris, Dec. 12-Three per cent. rentes,
lO3 francs 20 confines for the account
New York, Dec. 12.-Money on call was
onered at per cent. Prime mercantile
paper S1sQ4 per cent. Sterling exchange
+A4sA-i van eiSttdi business bankers OlllS
at $4SS42 4.S3S4 for sixty days, and $4S6I66
4.S644 Tor demand Posted rates, $4S41k@
4.Sf1S Commercial bills, $4S2A. Bar sill
yer, 659sc. Government bonds steady:
state bonds dull; railroad bonds irregular.
New York, Dec. l2.-The treasury ball
ances We're as follows Coin, $121 .5S7, 497,
currency, $45,5sS,l5S
New York, Dec. 12-Weelxly statement
OF the associated banks shows the follow
GnAnRG2s
loans, increase. $l1, 061, 7OO specie, Increase
SSH'zVO; legal tenders, increase, S1.Sl0 500:
deposits, increase, $14559. 900; circulation
decrease, 1856, 400. The banks now hold
SSI,OO6,35O in excess of legal requirements
New York, Dec. 12.-The New York FL
hahcier says this week: The surplus re-
serve or the New York clearing house
banks, after having increased from 81 22S. :
oSo on sept. s, last, to $32 464, 400 Dec. s.
SHOWS signs of hating, the decrease for
the week ending Dec. u. being $S5S,050. This
contract was brought about mainly
through the enormous expansion of ST.
Vol'OO III loans. The banks gained in cash
during the week, according to the state
ment, S2,7Sl.7OO of which 1911 200 was spe-
Gle and S1,S10,50O legal tenders. The in
crease in loans is the largest reported since
the election, and is of itself, of a striking
evidence of the workings of the present low
money market. On Nov z, the total loans
VI tHS New ofk banks were S442, LIS, 100
The total for the week Just ended was
$46S5O3,5OO, showing an expansion of SAL
S23,6OO in about one month. The growth for
the week therefore was almost 30 per cent
or the whole. But it is probably true that
part OF this unparalleled increase comes
from sources other than those arising from
commercial demands. The Sterling ex-
change operators, by which local capital is
being used abroad, figures heavily in the
loan column, although it would be idle to
dispute the fact that the needs of trade
have aided in bringing about the unpre-
cedented upward movement which SEEM
ingly has not yet eliminated. The peculiar
position which the New York banks occupy
to-day toward foreign commercial centers
| is illustrated in this statement The crop
movement having virtually closed, money
is flowing into the New York banks faster
than it can be used and the result is a re-
markedly easy market. How much money
we received from abroad during the late
season of stringency cannot be estimated
with accuracy, but our enormous exports
have made foreign nations debtor to the
United States and instead of getting their
money back in the form of balances they
are compelled to borrow on this side to re-
lieve stringent conditions there. This has
never happened before.
The rest of the statement is in keeping
with the loan item. Deposits increased $l4,-
| 559,000 making a total increase since cleo
ton of SIS, 168,0O0 which represents large
| ly release of funds boarded by individuals
| and released by interior banks.