The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-03-08

I nominally. Sd5ia per cent prime mercan-
{ tile paper. $40 per cent. Sterling eN-
I change. steady with actual business in
/ bankers bills al S4s1is for - days, and stes
/ gf-Sslt for demand. Posted rates, sisilzti
I 4.s9. Commercial bills, $3.50 fs5iz. Bar sd
yer. - SC. Government bonds, strong; state
I bonds dull Railroad bonds lower. Silver
I at the board was neglected
New York, March THE treasury bal
! ances were as follows: Coin, Slzl,5si,5d D.;
] currency, Ss7,4603
| New York. March Weekly statement
/ Of associated banks shows the following
/ changes. Reserve, decrease, Sl,lSl,6 so
! Loans, increase, 81, So. 900. specie increase,
I 100; legal tenders. decrease. S2s603 lo;
/ deposits. decrease S127Slos circulation in
Z crease, 1854 20. The banks now hold. 3d.
/ 1850 IN excess OF legal requirements
New York March THE F'fnancier avs.
/ The statement OF the New YORK clearing
/ house banks for the week ending March
! Is favorable. viewed in a general sense.
! exhibiting, as IL does, a continued eNpan-
/ sion in loans, the increase for the week
] being $4,000 and the aggregate to fall.
go, $3.50, an increase OF Sls,u5l, 100 since
Fen. 3. or since the bond call Of Secretary
| Carlisle was issued. Net deposits. how
/ ever. are almost stationary, the total for
/ the past week being only SIS, SS4. 100, as
against 1882. 800 Feb 5 last. The sur
I Plus reserve for the current week was
Sz5,5zi,J00, as against $40 1s2, 425 for Feb.
| =, showing the reduction in excess cash to
nave been something like Sf7,000Oy0. which
is about 10000 less than the increase
IN loans, as noted. The banks lost in cash
during the past six days, Sl,S69,600, the
\
OFFSET by a loss of 1855. 700. The latter
reuectS the outgoing movement Of money.
but the exact condition which prevails is
perhaps ObScured by transactions which
have been going into the treasury on
bond account. The increase in specie
makes the total now in New York banks,
according to the statement, SCI, 53S. 100.
which compares with 81, 500,@O reported
FEB y. The loss to the New York bank
/ IS thus 100000. The total cash lost to
the New York banks in that time has
been 81, 800 900. The movement which has
been going on for some time toward the
interior has been somewhat checked and
the money market at several important
points is reported easier. AS might have
been expected in view of these circum-
| have been advancing, and bankers are
predicting an easier money market in
consequence. The New York banks ap
pear TO be taking out circulation on the
new bonds at a rapid rate, the increase
reported for the week being 1864. 200.
The averages show the following, com
pared with the last two years:
Mar T. '96.Mar. 9. '95. Mar. TO-
Loans $464 ASS 900 $4S9 329, 200 S439 $40 500
Specie -. 61,5Ss,1OO 67,224,OOO 1888, 800
ders 49,. ss.sl7,5OO s7.557,lOO III. 5ss, 200
its 49,. 4s8.Ss4.4oO 5z7.s6s,sOO 8.1o8, 700
Circulation l3,9S3,SOO 12,llS,5OO n,545,5OO
serve =. 145,455.6OO 154.7s1,lOO 2OS,sOe,aOo
quired :. 12222l,1OO ID. 992,l5 49,. 275,9 25
reserve 28.234,5OO %. 1856 1888. 375
New York, March Z, Noon...Erie, 155la'
Northwestern, l035s; do preferred, AS;
Lake Shore. 147; N|rfolk and Western,
preferred, M asked Western Union, S4ia;
Southern Railway, common, 9ls; do pre-
more and Ohio. 147s; Canada Southern,
so; st. Paul q; Rock Island, ne; Della
ware and Hudson, 126; Delaware, Lacka-
1854 Michigan Central, IS; New York
Central, 97s4; speculation closed quiet, but
New York, March THE transactions
in stocks at the board to-day were only
12l, 434 shares, and of this total Tobacco
figured for 800 shares. The stock broke
from 1888 to 7l9s, and near the close on
an effort to cover short contracts there
was a rally to 1874 at which the final
transactions were effected. The early
break was the result of reports from the
west that the company's revenues were
being materially reduced through the op-
erations of its competitors. 1t was also
stated that the company had or would
issue 100000 shares of new preferred
stock. Cotton Oil preferred broke from 60
TO 81, and later recovered to co. The early
break was the result OF rumors that the
company had not earned its interest and
dividend requirement for the year. This
was semi-ofhcially denied and the securi-
ties from the company closed relatively
rather steady General Electric was eX-
ceptionally strong and rose from 32s to
S4q34s, on rumors that the company had
made several important contracts. There
was little to the railway list, and there
is not likely to be until the street has
a better understanding of the Cuban oues-
ton. At present the average trader and
operator is in the dark and is disposed
to go slow. Baltimore and Ohio and Den
Yer and Rio Grande preferred were heavy
in the early trading. Baltimore and Ohio
declined q to 1873 and rallied to 147s There
were no new developments in regard to
the property, although it is generally IN
derstood that the new bankers will en-
deaVoP to bring about a rehabilitation of
the property without foreclosure. An Of
fetal statement of the exact condition of
the road is anXiously awaited. Denver
and Rio Grande preferred fell rs to 475s on
light trading. Speculation closed quiet
and firm in tone. Net changes show gains
of Il 10 - per cent Sugar lost u Della
ware and Hudson p, Pacific Mail q, Lead
l, Cotton OIL, "a. and do preferred, 2
per cent. Bonds were dull and lower. The
sales aggregated $4,000
New York. March 1.-The sudden break
in Cotton Oil preferred at the New York
Stock Exchange from GO to 81 to-day led
to rumors that the company will pass
the June dividend. Treasurer Ralph said
that the earnings of the company for the
or up to Feb. l., show that the receipts
were equal to the corresponding period
of last year. 1t was the policy of the
| company, he said, not TO anticipate, and
for this reason he would say nothing re
garding the prospects of a dividend on
| the preferred stock in June.
New York Stock List, Closing Bids,
| Stocks and Bonds-American Cotton Oil,
/ 10; do preferred, SO; Sugar Refinery, 116;
! DO preferred, lU094i American Tobacco,
1855; do preferred 100; Atchson, T. and S.
F., 1875; Baltimore and Ohio, 1875 Canada
/ Pacific, 5494; Chesapeake and Ohio, 1855 ;
| Chicago and Alton, 155; Chicago b. and O.
/ 1914 Chicago Gas, &c; Delaware. Lacka-
/ wanna and Western, 1914; Distillers and
Cattle Feeders, IN; Erie; By; do pre-
/ Illinois Central, 96; Lake Erie and West
| ern, 20A do preferred, 70; Lake Shore, 147:
/ Louisville and Nashville, 523i; Louisville
| and N. A.. 913; Manhattan, lO5ls; Mem
! phis and Charleston. Is asked; Michigan
/ Central 50; Missouri Pacific "a; Mobile
and Ohio. 22'a; Nashville, CHATTANOOGA
| and st. Louis, IS; United States Cordage.
/ s.; do preferred, 10; New Jersey Central
| 1854 New York Central, 973t New York
and New England, 30; Norfolk and West
! ern preferred, "a asked; Northern Pacific
! a; do preferred, II; Northwestern, 1885,
4 do preferred, las; Pacific Mail 257k Read.
ing. nss; Rock Island, 71l2; St. Paul. n;
/ do preferred, 129; Silver Certificates 6Sib.
/ Tennessee Coal and Iron, 29& do pre,
ferred, 100; Texas Pacific, S1a; Union Pa
cifc rs Wabash, ST. l.. and p 67s do
/ preferred, l73s; Western Union, S4ib:
! Wheeling and l.. E., 1875 do preferred. 81 !:
! Southern Railway 5s, 92; Southern Rail,
way. common, 91s; Southern Railway, pre-