The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-07


comes, A bid, As asked. ex-dividend;
Central of Georgia railway. sec
ond preferred incomes, 1872 bid, IS
asked: Central of Georgia railway third
preferred incomes. 81 bid, 9s4 asked: Cieor-
gia railroad IS 1910. 114ia bid, 1l6l2 asked;
Charlotte, Columbia and augusta first IS,
1852 bid, asked; Charlotte, columbia
and Augusta second mortgage rs, ia bid,
ll5 asked; Georgia Southern and II orida,
new IS. 9S bid, 80 asked; South Georgia
and Florida first mortgage IS, 102l5 bid
1882 asked; South Georgia and Florida
second mortgage Is, 102 bid. 10S asked;
Ocean Steamship per cent. bonds 1926
10S bid, 105 asked; City and Suburban rail
road first mortgage per cent bonds. 50
bid, 81 asked; Alabama Midland per cent.
Endorsed, IS bid, 81 asked Brunswick and
Western As, 60 bid, 20 asked; South Bound
railroad 5s IS bid 20 asked; Southern Rail
way 5s, 93l2 bid, 9415 asked; Georgia and
Alabama first preferred S. 109 bid. 1O4
asked; Georgia and Alabama first consOls,
81 bid, SO asked
Railroad Stocks-Augusta and Savan-
nah, SO bid. IS asked Georgia common,
l72 bid, l73 asked; Southwestern, SO bid 9334
asked; Atlanta and West Point stock
10212 bid l0315' asked; Atlanta and West
Point 9 per CENT certificates, 103 bid 105
asked; Savannah Construction Company,
67 bid, 20 asked
Gas Stocks-Savanna Gas Light Stock,
22la bid, % asked Electric Light and Pow
er Company, So bid. - asked.
Bank Stocks, Etc.-Citizens Bank, 1894
bid asked; Chatham bank. 40 bid 421b
asked; Germania Bank, 1857 bid, 1924
asked; Merchants National Bank, ST bid,
SS12 asked; National Bank of Savannah.
10 bid, 126 asked; Oglethorpe Savings and
Trust Company, 10S bid, 1O4 asked; South
ern Bank of the State of Georgia 152 bid,
155 asked; Savannah Bank and Trust
Company, 100 bid, 1O2 asked; Chatham Real
Estate and Improvement Company. A, 50
bid, So asked; B. 54la bid 50 asked; Peo-
pies Savings and Loan Company, SO bid,
95 asked.
Factory Bonds-Augusta Factory 6s, 101
bid, 102 asked; Enterprise Factory Is. 100
bid, lOl asked Eagle and PheniX Manu-
featuring Company per cent. bonds, 40
bid, ~ asked; Sibley Manufacturing Com
pany 6s, 1O1 bid, 102 asked
Factory Stocks-Savannah Cotton Fac
tory, BID, - asked; Augusta Factory,
50 bid, SO asked; Graniteville Factory las
bid, ISL asked Langley Factory 104 bid,
1854 asked Enterprise Factory, common,
SO bid, 96 asked; j. r. King Manufacture
ing Company 104 bid 105 asked; Sibley
Manufacturing Company, 70 bid, rs asked;
Savannah Brewing Company, 80 bid, s.
asked.
New York. Oct. 6.-Money on call was
steady at 21ad3 per cent; the last loan
was at 21a per cent, and closed at 212 per
cent; prime mercantile paper, 4245 per
cent. Sterling exchange easier with act
ual business in bankers bills, at $IS4A0
4S4$s for demand and $4S2A04.S2l5 for six
ty days. posted rates, A,S2l2Q4S4 and $4.S5
GAS; commercial bills, $4S1. Silver GER
tificates, 55G5612c; bar silver, So 11-l6c;
Mexican dollars, 43c. Government bonds
were firm; state bonds were dull; railroad
bonds were weak.
20
London financial cablegram says: THE
stock markets were steady and quiet to-
day. West Australia mines are still boom
ing, but with signs of weakness. Ameri-
cans opened dull, but over the parity.
There was scarcely any selling here and
the absence from the markets of the Jews
restricted arbitrage dealings. Prices
were steady at the close The withdrawal
of 100000 in gold from the Bank of Eng
land for America had little effect on the
market for shares, where it is argued that
New York does not want gold specially,
but does not desire to resell to London
the shares recently shipped from here
The frmness in to-days London discount
market is due to the gold shipments to
New York. The Paris bourse was dull
and the Berlin market steady"
New York, Oct. 6.-The bulls maintained
a waiting attitude for the most part in
to-day's market and the bears were sue
orders and depressing the general level
of the market a further sharp fraction.
There seems to be long stock to sell and
the bears are thus encouraged to con-
tinue their efforts. Where there is evil
dence of realizing they apply pressure by
short selling and so precipitate the de-
cline to a point where stop loss orders
are added to the weight on the market.
The consequence of this policy was some
very sharp declines in special stocks dur
ing the day, Sugar, Chicago Gas, Man
haitian, Bay State Gas and the Changers
being the objects of the most aggressive
attacks.
The lowest prices of the day were made
early in the final hour, but the last half
hour of the trading saw a steady harden
ing of prices, which materially reduced
the net losses. All the factors in the gen.
eral situation indicated a continued in
crease in actual value and there was no
assignable cause for the decline, except
the exaggerated level of prices which has
been attained.
One of the features of the day was the
large buying in Pennsylvania and a sharp
rise in the price of the stock. The an
nouncement of the withdrawal from the
Bank of England of 100000 in American
eagles for shipment to New York had
only a momentary effect in steadying
prices. This was the more BILE as
the movement is considered to be the be-
ginning of a steady import of gold Ster-
ling exchange sold at $4.Sh to-day. that
price. being offered at sellers option for
the resi- of the month.
The ample supply of gold at present In
the country must be accepted as account
ing for the small effect produced by the
impending gold movement The New York
clearing house banks now hold $92, 800, 100
in specie, compared with $685. sol, 100 a year
ago The last of the first lot of gold
engaged in Europe for import two weeks
ago has arrived from Genoa and has been
deposited 10 the account of importers. AL
though the New York banks have lost
in the last two weeks SlG,6O5, 300 of their
deposits, the specie in the cash reserve
has shown an actual increase in the same
time. The United States treasury COLA
reserve has also been increasing at the
rate of $250,00O a day for several days
past The rates for money in the New
York market show no further tendency
to harden. If rail- these circumstances
are taken into account,it will not seem sur
prising that small Importance attaches 10
the movement of gold hither.
London was a buyer of stocks in this
market to-day, ana statements of railroad
earnings all continued to show increases.
MeVqrt hQlesS the result of the DAVIS ir