The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-09


stands 100000 higher than at that time.
As a whole, the statement was better
than had been expected.
Aug. s '96 Aug. 10 s5 Aug. II 'sl
Loans Sl6s. SS7 900 500 s76 100 S4s4 ca 100
Specie ..-... 46.465 500 65, 4S0, 800 81 052 200
Legal td'n Sc, $50 800 l16 SO, 6O0 1911 2O9, 300
Net deits Az, $500 57S. 677, 300 5Sl O36, 600
CIR uatiOn i 1889 200l 10, COO 1854, 800
Ptal rey'e 1873, 1906 TOO 1872 300, 100 2i2 262, 600
Rere red 1872 lbs 143, ,325 145, 259, 100
Ex. of re'Te lS,sl5,5I5I SS.sso,775 6I0O2,s $50
New York. Aug. 5, noon.-Erie, 1919;
Northwestern, STA; preferred, 14S; Lake
shore 1872; Norfolk and Western preferred,
100; Western Union, 1874; Southern Rail-
way common 6ss Southern Railway pre-
ferred, 1855; American Sugar, $50; Balti-
more ana Ohio, 14H; Canada Southern Al:
ST. Paul, 60lsi Rock Island. 49@s; Delaware
ana Hudson, us; Delaware, Lackawanna
ana Western, 1879; Manhattan 1914: Michi-
gan Central IS; New oYrk Central, 49,
speculation closed heavy with every indi-
cation OF still lower figures next week
New York, Aug. 8.-The volume of bus
mess during the short session of the stock
exchange to-day was by no means large,
still at intervals the depression was quite
pronounced. At the opening the market
was adversely affected by. the lower ca
bles from London and the active list fell
about per cent. The decline induced ex-
tensive purchases to cover short contracts
ana a sharp rally Of MG2h per cent fol-
from 96c to 9Shc. The general list ranged
from h0lA per cent, and was well dis
tributed Before the expiration of the first
hour, however, the selling was renewed
on a heavy scale, the gains previously
noted were not only wiped out but some
Of the standards sustained severe losses
The selling pressure was most pronounced
after the publishing OF the bank statement
The statement showed a contraction in
loans and an enormous loss
in legal tenders. The reduc-
ton in the surplus reserve TO
below $4,000, 900 encourages the belief that
rates for money will rule higher in the i'm
mediate future. This, OF course, will op-
erate against the bulls on the stocks. In
the last hour Of business Sugar, Man
haitian Chicago Gas the Changers. Louis
vile and Nashville, and Western Union
were prominent. Sugar broke rs to 95ik
Preferred to 1914; Manhattan, 3& to 1917;
Northwest, 2? to STA; St Paul. 21s to 6OA;
Rock Island, Pa to 49h; Chicago Gas 2h
to 44lk; Louisville and Nashville to 3SiL:
and Western Union, rs to 1915. In the in
active issues, Metropolitan Traction broke
"a to sOAe, Minnesota and ST. Louis first
preferred, to "a, and Susquehana and
Western preferred to 12 The absence of
failures was noticeable. Brokers gener-
ally are in good shape and there will be
no trouble unless the banks should ad-
vance interest rates to very much higher
figures than those now prevailing In view
OF the efforts on the part OF the local
financial institutions to protect the gold
reserve, II Is safe to assume that stock
brokers VIII be accorded all the accommo-
dations necessary to carry on their bust
ness. In the final dealing a few stocks re-
covered fractionally from the low point
of the morning, but speculation was fe-
Verish and unsettled. Net changes show
losses Of A63 per cent. Total sales were
1856, 4S2 shares, including p, 600 Sugar. IL 500
st. Paul, and 1880 Western Union Bonds
We're active and heavy, Total sales were
1lS6,0O0
New York Stock List-Closing Bids
Stocks and Bonds-American Cotton OIL
s1a; do preferred, 80; Sugar Refinery, 95l5;
90 preferred, 81; American Tobacco, 542s:
do preferred, so; Atchson, T. and S. r.,
S&; Baltimore and Ohio, 14Is; Canada
Pacific, 55ls; Chesapeake and Ohio Ii:
Chicago and Alton, l46; Chicago, Burling-
ton and Quincy, 54ls; Chicago Gas As;
Delaware, Lackawanna and Western. 1879:
Dis. Cat Feed, g. Erie, 1919; do preferred
y bid; Edison General Electric, 21h: iii
nois Central 50; Lake Erie and Western.
u; do preferred, 50; Lake Shore, 1872;
Louisville and Nashville, 8SA; Louisville
and n A, 5A; Manhattan, 76I5; Memphis
and Charleston, IS asked Michigan Cen
tral, IS; Missouri Pacific, 1874; Mobile and
Ohio, 10; Nashville, c. and st. L.. 67Is
asked; United States Cordage, 8%; dc
preferred, 6; New Jersey Central
S. N Y Central. IS; n
preferred, 1Ola; Northern Pacific. Slk; do
preferred, 10; Northwestern, S71s do pre-
ferred, las; Pacific Mail, 16; READING 81;
Rock Island, ass; st. Paul, COZ; do pre-
ferred, us; Silver Certificates, 6S1k: Ten
nessee Coal and Iron, IAN do do preferred
80 asked; Texas Pacific. SIS; Union Pa
citic, al Wabash, st. l.. and p Az; do
DO preferred, ll12; Western Union, 1879:
Wheeling and Lake Erie. 5ss; do do pre-
ferred, 20; Southern Railway IS, rs; South
ern railway common, 6Ss; Southern rail-
way preferred, 1855.
State Bonds-Alabama A. 100 bid: do r
100 bid; DO c, IS; Louisiana stamped AS
SO bid; North Carolina IS, 50; North Caro-
lima SIS, 10; Tennessee, new set, as 77I5
asked; Nirginia 6s, preferred, 3; Virginia
Trust Receipts, 4; Virginia Funding Debt.
50; South Carolina as, IS bid
Government Bonds-United States As
registered, 1854; United States as. cou-
pons, 106; United States rs registered
%; United States As registered. new
n1lk; United States As, coupons, new
ll1l2.