The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-13
THE MORNING NEWS: WEDNESDAY, OCTOBER Is, 1897

Alabama first preferred IS. 1OS bid 1O4
asked; Georgia and Alabama first consols,
81 bid. 50 asked.
Railroad Stocks-Augusta and Savan-
nah 81 bid, IS asked: Georgia Common,
| liz bid, l7S asked; Southwestern 81 bid IS
asked; Atlanta ana West Point stock,
l0S bid. 105 asked; Atlanta and West
point per cent. certificates. 102 bid. 103ls
asked; Savannah Construction Company,
| 81 bid, 20 asked.
Gas Stocks-Savannah Gas Light Stock.
2lla bid, 20 asked; Electric Light and Pow
| er Company, Sc bid, IS asked.
| Bank Stocks, Etc.-Citizens Bank, 1924
bid, asked; Chatham bank 4294 bid, 4Sla
asked; Germania Bank l0Slk bid 1891
| asked; Merchants National Bank 81 bid
96 asked; National Bank of Savannah,
l25 bid, 126 asked; Ogiethorpe Savings and
Trust Company, 10S bid, 1O4 asked South
| ern Bank of the State of Georgia, 1913 bid,
l55 asked; savannah Bank and Trust
| Company, 10l bid, 1902 asked; Chatham Real
| Estate and Improvement Company A. 551s
bid, Sc asked; B, 5412 bid. So asked; Peo-
pies Savings and Loan Company 80 bid,
| "a asked.
Factory Bonds--Augusta Factory 6s 101
| bid, 102 asked Enterprise Factory 6s 100
bid, 101 asked; Eagle and Phenix Manu-.
featuring Company per cent. bonds. 40
bid, ~ asked Sibley Manufacturing Com
pany Is, 101 bid, 1O2 asked.
Factory Stocks-Savannah Cotton Fac
| tory. - bid, Is asked; Augusta Factory,
| so bid, SO asked; Graniteville Factory AS
bid, l5l asked; Langley Factory 104 bid,
| 1854 asked; Enterprise Factory, common,
| SO bid. SO asked; ]. r. King Manufacture
| ing Company, 1O4 bid, 105 asked; Sibley
| Manufacturing Company, 20 bid, rs asked;
Savannah Brewing Company, so bid, IS
asked.
New York, Oct. 12-Money on call was
steady at 2l2dS per cent; the last loan
| was at per cent, and closed offered at 2l2
! as per cent. Prime mercantile paper. Az
| as per cent Sterling exchange firmer.
with actual business in bankers bills at
! $4.S4A for demand and $4.S2@4S214 for 60
| days; the posted rates were a. 2@4SSl5
| and $4.S5d4S5A; commercial bills, $4S01ad
| 4.S1. Silver certificates, 5612G57l2c; bar sill
| YER 567Ac; Mexican dollars, 4312c. Gov
| eminent bonds We're firm; state bonds
| were dull; railroad bonds were weak.
| New York, Oct. 12.-The Evening Posts
London financial cablegram says 1.-THE
! stock markets were quiet to-day, atten-
| ton being absorbed with the commence
| ment of the settlement, which reveals only
| a moderate account with fairly light con-
| tangoes, these on Americans being usu-
| ally 31a per cent. There was a better tone
| in Americans, but the only pronounced
| rise was in Canadas and Norfolk and
| Western, both of which were largely
| bought. The close was at the best. In the
| Oln6G markets the only feature was the
continued boom in West Australian mines
New York was bidding keenly for bar
| gold in the open market to-day at about
| IT'S 111ad. More eagles will probably leave
the Bank of England before long To-
| days Withdrawals of gold from the bank is
for Germany, which is also a strong buyer
| of gold. The Paris bourse was dull and
sensitive. The Berlin market was dun,
| being generally adversely affected by the
| imperial Bank of Germany declining to
discount certain kind of paper formerly
| discounted. 1t means some curtailment of
| the credit system and assists the none
| tary stringency in Germany
| New York, Oct. 12.-Much parade was
| made yesterday of the alleged conversion
| of some of the leading bear operators on
| the exchange to the bull side of the mar
ket. To-day's developments prove that
| there is a very large and aggressive con-
| tingent still left in the market. The
| operate known in Wall street parlance
as testing the market" had for several
days failed to cause a marked movement
in either direction. That is to say, short
selling by the bears had failed to induce
any large liquidation and purchases by
| bulls had equally failed to invite
| any large followers Skilled observers
had arrived at the conclusion that the
| market was due for a period of dizziness,
barring the development of some marked
~ significant news
| Inc hardening OF prices last nlgnJ ana
| the further advance this morning looked
like termination of the bear campaign
| Yet in the two final hours of the market
| the bears succeeded in working a sharper
! decline throughout the whole list than
| has been accomplished on any one day Of
| their campaign. They had no new event
| which could influence the values of stock
to aid then and no report of any cessa-
| ton in the Improvement of the earning
| power of properties the shares in which
| are dealt in on the exchange. The nom
| inal motive, of the selling was the fear
| that our relations with Spain were in dan
| ger of rupture, as an outgrowth of the
! policy which Gen. Woodford was ordered
| to pursue at Madrid The dispatch from
! Madrid to the Associated Press, carrying
! the semi-of1icial announcement of the sub
| stance of Spain's reply, it was feared,
| would force President Mckinley to take
| action that would lead to a declaration of
war. Apprehension on this point became
I SO acute that large amounts of long stock
| were offered and numerous stop loss Or
| ders were uncovered which gave success
| to the bears. Several Intellectual at
| tempts were made to stem the decline, but
| rallies were only momentary and fresh
heavy offers kept the liquidation to the
| close of the day Last prices were in
many. cases the lowest, and the tone of
the market at the last was very fever
| ish.
Losses on the day extend all the way
| from fraction to over points, the range
in the leading active stocks being from
to points. Chicago Gas and the Grang-
! ers were most ehavily dealt in and showed
the sharpest decline.
The bond market showed increased ac-
tivity and shared in the weakness of the
stock market though to a less extent To-
tai sales, $4,000. United States new Is
We're advanced Il bid
The total sales of stocks to-day were
493,2S0 shares, including Atchison pre-
ferred, 1920 Chicago. Burlington and
Quincy, $500; Louisville and Nashville.
1920; Manhattan, 640O; Missouri Pacific,
1850; New York Central $500; Northern
Pacific, $500; Northern Pacific preferred.
260l5; Reading, 12,525; Rock Island. 19. 1920;
st. Paul, $3.50; Union Pacific IS 400; Wa
bash preferred, $3.50; American Tobacco.
6,40O; Bay State Gas, 1850; Chicago Gas,
Co. 2O; Sugar 2s, 200; Tennessee Coal and
Iron, $780, Western Union, 5,210; Chicago.
and Great Western, APO.
New York Closing Stocks.
Atchison ANN. 1874 st. Paul ........ 92b
do pref $500 29l6' do pref 1879
Baltimore & o.. 149s St p & ON =. 70
~