The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-28
THE MORNING NEWS: THURSDAY, OCTOBER Is. 1897


p bid, 221a asked; Electric Light and Pow
er Company 81 bid, 60 asked.
| Bank Stocks >Etc.--Citizens Bank, 1892
| bid, 110l2 asked; Chatham Bank, 40 bid, 46
| asked; Germania Bank. 100 bid. 10
asked; Merchants National Bank. 91I5 bid,
| 80 asked; National Bank of Savannah,
l26 bid, 127 asked; Oglethorpe Savings and
/ Trust Company. 1N bid. l05 asked; South
| ern Bank of the State of Georgia, 15S bid
| 155 asked; Savannah Bank and Trust
| Company l0l bid, 102 asked; Chatham Real
/ Estate and Improvement Company, A, 551a
bid, 5612 asked; B. 541a bid, 55 asked; Peo-
| pies Savings and Loan Company, 81 bid,
| 50 asked.
Factory Bonds-Augusta Factory IS, 10l
bid 102 asked; Enterprise Factory 6s, 100
| bid 101 asked; Eagle and Phenix Manu-
| featuring Company per cent. bonds, 40
bid AZ asked Sbley Manufacturing Com
| pany Is, 1O1 bid, 1O2 asked,
| Factory Stocks-SaVannah Cotton Fac
| tory, - bid, 10 asked; Augusta Factory,
| so bid, SO asked; Granitevine Factory, l45
bid, ISL asked; Langley Factory, 14 bid.
| 1851 asked; Enterprise Factory, common,
| SO bid sc asked; j. r. King Manufactur-
| ing Company, 104 bid 10S asked Sibley
Manufacturing Company, 70 bid, 76 asked
! Savannah Brewing Company, 80 bid, IS
asked.
New York, Oct. 27.-Money on call easy
! at 16I2 per cent; the last loan was at
mercantile paper, 4a41s per cent. Sterling
| exchange heavy with actual business in
| bankers bills, at 81 .S51s@4 1914 for demand,
and 81. S214 al. S2ss for sixty days. Posted
rates 81 1904. SS1a aud 4.S6d4 .S619 Com
mercial bills, $4S1M. Silver certificates, 81
| d59c; bar silver, 561aos Mexican dollars
| SOC. Government bonds firm; state bonds
were dull; railroad bonds were firm.
| New York, Oct 27.-EVening Posts Lon
| don financial cablegram The stock
markets were quiet to-day during the
progress of the settlement, and in view
| of the holiday on Monday next. The
| tone, however, was steady. Money is still
| tight and large amount was borrowed
| from the Bank of England to-day Amer
| leans were firm, except Canada Pacifics,
which were flat on New York, and Ger
man selling. Mines were better. 1t is ru
mored that che Deutsche Bank is ready
| to lend the Transvaal government $4,000
OO0 subject to certain concessions being
| granted. The Paris bourse was better
| but its condition is not yet satisfactory.
The Berlin market was quiet"
New York. Oct 27.-The stock market
looked strong for a time to-day and the
| level of prices soon after noon rose a
! point or over above last nights close in
! many stocks. But a renewal of reports
that the Spanish reply to the representa-
| tons of this government was of a tenor
that threatened trouble, caused the mar
| ket to sell off to a point as much below
| last nights level as it had been above in
| the morning. This represented a very wide
range in the fluctuations, extending to 4
! points in Consolidated Gas, and about 2
| points or over in Union Pacific, Sugar, Pa
| cifie Man and several other stocks, and
| over PANT for nearly all stocks. Union
| Pacific continued to absorb a large share
of speculative interest and fell during the
| day to within y Of the low point of Mon
| day, when the Governments announced
| intention to postpone the foreclosure sale
was regarded as threatening a collapse of
| the whole reorganization plan
| The weakness of the stock was due to
| a report from sources not favorable to the
| reorganization interests that the increased
| bid for the property would involve their
| taking up a corresponding amount of the
| proposed new securities, which would have
| otherwise accrued in the treasury of the
reorganized company. This would of
! course, places a corresponding proportion
| of fixed charges ahead of the stock of the
reorganized company. The suggestion also
! found currency that the committee might
| decide to increase the issue of first mort
gage bonds above the $4,000, 900 proposed,
| notwit hstanding the assertion of the re-
organization Committees announcement
| of Monday that no change in the plan of
| reorganization is involved by their deter
] mnaton to bid in the Union Pacific main
| line for the full amount of the govern
! ment's claim Whatever the foundation
| for the rumor it helped 10 depress the
| price of the stock to about what il was
before the second s. assessment was re-
Gently paid London was also a seller of
| the stock to-day in this market in con-
| trast to its attitude of yesterday. Arbi-
! TRACE brokers, in fact, sold most of the
| international stocks while prices remained
| above the London parity.
| Sterling exchange yielded sc in the ac-
tual date for demand bills, and 1ac in post
cd rates. Increased amounts which will
have to beaf9reign interests on account of
the larger bid for the Union Pacific, was
| the cause of the weaker tone. There was
| also said to be some liquidation of eX-
| change which has been recently purchas-
| ed for use as collateral, with view to
| leaving funds in London at the higher
rate of interest prevailing there. The state
ment of ST. Paul net earnings for Septem-
| Der, showing an increase of over $l41 600
and rumors of the heavy increase to be
| shown by the forthcoming Burlington
statement, were factors in stiffening the
| market about noon. The speculation in
Burlington was the more active, rumor
being free to expand the earnings in the
absence of accurate Information The
stock rose at one time ~, and there were
over 10000 shares sold both in Burlington
and Union RRci1q. These stocks absorbed
one-third Of the total transactions.
Prices in railroad bonds We're firm in the
early dealings, but eased off in sympathy
with stocks at the close. Total sales we're
$l,4OO,OO0. Government bonds We're quiet
and unchanged.
The total sales of stocks to-day were $685.
800, including the following: Burlington,
4o,76O; Louisville and Nashville, 4,655; Mis-
souri, Pacific, S075; Rock Island, 1920: St.
Paul. 22.lS0; Union Pacific, 4S,000; Bay
State Gas, 14.6o5; Chicago Gas 226S6; su-
gar 1920; Chicago Great Western, $500
New York Closing Stocks.
Atchison ..,..... 1881 Paul ,........ 921b
do pref. ........ 2S1sl do pref 139l5
Bait & Ohio. 13AISt P. & Om.. 1881
Can. Pacific 80. 1871 do do pref. 40
Canada South E. 541Ast p NJ. & M...122
Cent. Pacific :. 1870. Pacific 49,. 1917
Ches q Ohio. 2l&Fo. Railway 80. 9l5
Chi. & Alton. :. 100 do pref 307g
Chi. j. & O.. ssirexas & Pacific. 111S
Chi. & %. H.. 81 Union Pacific .. 2lM
G. c. c. & StL. "a III. P. d. & G.. III
do do pref. 50 Wabash ....... 7T
Del. & Hudson. ia do pref -. 1881
Del. L. & W.. .152 Wheel. & l.. e.. 1ss
Den. & Rio. G. ia do do pref III
do pref. ..... 44l5lAdams Elk LBS
II