The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-26

first mortgage ) per cent gold bonds,
due 1884. 1854 bid. LOG asked and interest;
Augusta Southern. first IS, 1924 SO bid 100
asked central Railroad and Banking Com
pany collateral IS. IS bid. 81 asked; Central
of Georgia railway first mortgage IS. 90
year gold bonds, ia bid, rs asked; Cen
tral of Georgia railway first consolidated
mortgage SIS. 80 bid, 90 asked; Central of
Georgia railway first preferred incomes,
43la bid, 451s asked; Central of Georgia
railway, second preferred incomes, II bid,
Is asked Central of Georgia railway third
preferred incomes, 3 bid, 10 asked; Geor-
gia railroad IS. 1910, 1l41s bid, 1855 asked;
Charlotte, Columbia and Augusta first IS,
1857 bid, asked; Charlotte, Columbia
and Augusta second mortgage Is, ia bid,
lis asked; Georgia Southern and Florida,
new IS, 9Sl5 bid, 9915 asked South Georgia
and Florida first mortgage Is, 1925 bid,
1031a asked; South Georgia and Florida
second mortgage Is, 102 bid, 1903 asked;
Ocean Steamship per cent. bonds, 1926,
10S bid, 105 asked; City and Suburban rail
road first mortgage per cent. bonds, so
bid 81 asked; Alabama Midland per cent.
Endorsed, IS bid, 80 asked; Brunswick and
Western IS, 65 bid, 10 asked; South Bound
railroad IS, 65 bid, 20 asked; Southern Rail-
way IS, 9SlH bid, 941a asked; Georgia and
Alabama first preferred IS. 103 bid. 104
asked; Georgia and Alabama first consols,
50 bid, SO asked.
Railroad Stocks-Augusta and Savan-
nah, "a bid, 50 asked; Georgia common,
172 bid, 173 asked: Southwestern, 81 bid, 95
asked; Atlanta and West Point stock, 1921
bid, 1885, asked; Atlanta and West Point
6 per cent. certificates, 1O2 bid. 1903 ask
ed; Savannah Construction Company, Is
bid, 6S asked.
Gas Stocks-Savannah Gas Light Stock,
221s bid, % asked; Electric Light and Pow
er Company, So bid, - asked.
Bank Stocks, Etc-CitiZens Bank 109A
oGlr1 f1,or,a
asked; Germania Bank, 1885, bid, 1884
asked; Merchants National Bank, ssh bid,
S71a asked; National Bank OF Savannah,
125 bid, 1876 asked; Ogletnorpe Savings and
Trust Company. 103 bid, 104 asked; South
ern Bank of the State of Georgia. 1913 bid,
155 asked; Savannah Bank and Trust
Company. 100 bid, 1902 asked; Chatham Real
Estate and Improvement Company, A, SO
bid. Sc asked; B, SAY bid, 55 asked; Peo-
pies Savings and Loan Company, 80 bid,
81 asked.
Factory Bonds-Augusta Factory 6s. 1O1
bid, 1902 asked; Enterprise Factory 6s 100
bid, 101 asked; Eagle and Phenix Manu-
featuring Company 6 per cent. bonds, 40
bid, AZ asked; Sbley Manufacturing Com
pany IS, 101 bid 102 asked.
Factory Stocks-Savannah Cotton Fac
tory, bid, % asked; Augusta Factory
so bid, SO asked; Graniteville Factory, las
bid, 151 asked; Langley Factory, 1O4 bid
1854 asked; Enterprise Factory, common,
SO bid, 96 asked; j. R. King Manufacture
ing Company, 1O4 bid, 1O5 asked Sbley
Manufacturing Company, 20 bid, 76 ask
ed; Savannah Brewing Company, - bid. IS
asked.
New York, Sept. %, noon-Money on call
was nominally at 21ad3 per cent Prime
mercantile paper, 4A6l5 per cent. Sterling
exchange, steady, with actual business in
bankers bills at $4S5A, less 1-32 for de-
mand and at $4.S294. less 1872 for sixty
4 Q o. o o. ia
4S61A. Commercial bills, $4.S1. Bar silver,
56s4c. Mexican dollars. 433sc State bonds
were dull; railroad bonds were firm gov
eminent bonds were firm.
New York, Sept 25.-The weekly bank
statement shows the following changes:
Surplus reserve, decrease, 81, S97, CTS; loans,
decreased, $2,72S,9D0; specie, increased, $685.
400; legal tenders, decreased, Sc, 614. 700; de-
posits, decreased, SIC, SOP, 500; circulation,
increased, 1907, 200. The banks now hold
SIS, 997 500 in excess Of the requirements of
the % per cent. rule.
New York. Sept 25.-Evening Posts
London financial cablegram: THE stock
markets were quiet and featureless to-
day, pending the settlement next week.
There was a firm undertone, however.
Americans, after a fiat opening on the
New York lead, rallied considerably at
the close"
New York Sept. 25.-There was no large
ket to-day. and the trading was largely
in the hands of the reactionists. There
were a few feeble rallies during the day
but the sagging tendency was for the
most part uninterrupted. Dealings were
not on large scale nor were they as
widely distributed as of late The rise at
the opening in sympathy with London
served to restrict the net declines in the
international stocks, and London, also
was a buyer of some stocks during the
day. There was nothing in the general
news to cause a recession in prices, and
the heaviness of the market has no other
explanation than the withdrawal of sup
port, and the continuance of some offer~
ings to realize profits The bears did
some short selling in their efforts to I'M
cover stop loss orders, but there was no
aggressive general selling manifest, and
much caution was apparent in putting
out short sales.
Trading halted after II o'clock and
waited for the bank statement The re-
spouse was not immediate when the state
ment appeared, showing some hesitancy
about constituting its character. An unfa-
vorable view was finally adopted and
prices drifted downward again, closing in
many cases at the lowest of the day. In
some stocks however, there was a final
rally of a fraction. Sugar covered
range of over points, but closed I'M
changed. Omaha lost two points, Consol-
dated Gas 21a, and many other active
shares from one to two points.
Interest to-day centered in the weekly
statement of the clearing house banks
The condition of the money market. after
the weeks development was looked upon
as the salient factor in determining the
course of speculation in the immediate flu
ture. The most notable feature of the
statement is the decrease shown in depos-
its of $10,602,5 500. The actual loss in cash
was $6,5iSS00, all in legal tenders, as the
amount of specie shows a small net in
crease. The heavy decrease in deposits
represents the demands from interior
banks, which have had funds on deposit
in New York banks for many months The
proportions of the Withdrawals account
for the sudden calling of loans during the
week. which was attributed in speculative
circles to a concerted effort to manipulate
the money market.
The contraction in loans is stated at
50, Us, 300 and this contraction served TO
reduce by so much the loss to banks in
actual cash, and to save a corresponding
additional decrease in the surplus reserve.
The fact that the decrease in the surplus
reserve is not as large as expected is due
TO this fact, and also the fact that the