The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-08-19
THE MORNING NEWS: THURSDAY. AUGUST 10. 1897


bid lO3 asked; Atlanta and West Point
per cent certificates, l02 bid. 10S asked
Savannah Construction Company IS bid,
6S asked.
Gas Stocks-Savannah Gas Light stock,
2llz bid, 22ls asked; Electric Light and
Power Company, So bid 60 asked.
Bank Stocks, Etc.-Citzens Bank, 1OSl5
bid, 1875 asked; Cha than Bank. 48 bid, "A
asked; Germania Bank, l07 bid. los asked;
Merchants National Bank, IS bid, S715 ask
ed; National Bank of savannah l24 bid
- asked; Oglethorpe Savings and Trust
Company. los bid, 1N asked; Southern
Bank of the State of Georgia, $50 bid! -
asked; Savannah Bank and Trust Com
pany. 100 bid, asked; Chatham Real
Estate and improvement Company. \, So
bid, asked; B. 54l4 bid, asked; Peo-
pies Savings and Loan Company, 80 bid,
- asked.
Factory Bonds-Augusta Factory IS. 1O1
bid, 1902 asked; Enterprise Factory 6s, 100
bid, 10l asked; Eagle and PheniX Manu-
featuring Company. 6 per cent. bonds, 40
| bid, A asked; Sibley Manufacturing Com
pany 6s. 10l bid, 102 asked.
Factory Stocks-Savannah Cotton Fac
tory, bid, % asked; Augusta Factory.
so bid, So asked; Graniteville Factory, las
bid, ISL asked; Langley Factory, l04 bid,
1854 asked; Enterprise Factory, common,
SO Did, Sc asked; J. r. King Manufacturing
Company, 104 bid 105 asked; Sibley Manu-
vannah Brewing COMPANY 49, bid IS asked.
New York. Aug 1S.--Money on call was
easy at lWll2 per cent; the last loan was
at Ia per cent, closed at II per cent.
Prime mercantile paper, 3l5@p@ per cent.
Sterling exchange firmer. with actual bus
mess in bankers bills at $4S59s6AS53i for
demand. and SLS3$s@4 s3l5 for sixty days.
Posted rates. $4.S3l2d4S6, and &.S5lad4S7.
Commercial bills S4.S2laG4 IS. Silver GER
titicates, slice. Bar silver, 5215c Mexican
dollars, 4lc. Government bonds were firm;
state bonds were dull; railroad bonds were
firm.
New York, Aug. 1S.-The Evening Posts
London financial cablegram says: THE
stock market opened firm here to-day and
closed rather dull. except for Americans,
where the reverse applies. The inactive
holiday season is at its hight Kaf1rs
were better, but the close was dull. The
continued slump in silver attracts atten-
ton. There were vague rumors at the
close of further bad news from India. l
give you the rumOr, as ii affected prices,
but there is probably no truth in it. The
Paris and Berlin markets were quiet The
London discount market is easier, and
there are rather fewer American bills of
fered since the recent rush.
New York, Aug. 1S.-The greater part of
the days proceedings on the floor of the
stock exchange consisted of kind of fenc-
ing for position or to develop the position
OF the opposing elements. The bulls were
not in an aggressive mood and there was
not at any time during the
day an active buying de-
mand. The bulls were IN a waiting mood
and their position was rather defensive.
The invitation to attack thus afforded was
improved by the bears and their efforts to
precipitate a decline were unweared They
succeeded in keeping prices slightly below
the level of last nights close during a large
part of the day. after a higher opening, but
hardening tendency just before the close
brought the market to a level above last
nights close. The heaviness was caused in
part by talk of crop damage in the west
and was in larger part due TO whether the
rise in prices had not reached a sufficient
ly high level to fairly discount the con-
ditions. present and prospective, which
brought it through the short selling by the
bears, and was supplemented by some pro-
fit taking sales but the volume of stop loss
orders dislodged was not large. The aim
of the bears always is to reach these stop
loss orders and thus precpitate a heavy
selling movement. But they have to count
also on the buttress of conditional orders
to buy at a lower level and on a decreasing
scale which underly many of the prom-
nent stocks in the market. A bear raid
| to be successful must disodge stop loss
| orders in such quantity that they cannot
be absorbed by these buying orders. The
bears encountered this obstacle at a very
| early stage of the decline to-day
Some adverse effects was produced upon
prices by the hardening in the rates of
sterling exchange, and there has been
some disposition to discount. The effect OF
early importations of gold in the buying
of stocks. The course of exchange to-day
was in response to the hardening of the
discount rate in London and a belief that
the bank OF Englands minimum rate of
discount would be raised to-day,
W. In ha
price moved quite freely over a range of
more than points and its late strength
ives a factor in rallying the market. The
sensational jump in the wheat market also
had sustaining influence in the late deal
ings.
The Southwestern railroad stocks were
all notably firm and strong in the late
dealings, Missouri Pacific leading on ac-
count OF an increase of $62. 900 shown by
the earnings for the second week in Au-
gust St. Paul was also firmer than the
average Of the list on its second week earn
ings.
The net changes in prices are small in
most OF active stocks, but are mostly
gains. There was a falling off Of over l90,-
900 shares. in the volume of trading to-
day as compared with Yesterdays and the
transactions in bonds were also much di-
minished.
The total sales of stocks to-day were 335.-
00S shares. including Atchson preferred
1880; Burlington 1860; Chesapeake and
Ohio, 1925, Missouri Pacific, 1875; ,Sorth-
ern Pacific, 500: do preferred. l2.462 Read
ing, 6l20; Rock Island, S,i06; 81. Paul, 81
$685. Texas and Pacific. 1000; American To-
bacco. Il 4S0: Chicago Gas, $780, Sugar 3d.
2l5 r. c. and l.. SOB; Western Union, g.
725; Chicago Great Western 1900
The bond market displayed very firm
tone throughout and did not participate IN
the feverishness noted in the stock mar
ket Business was rather light and Gains
generally trivial The aggregate sales were
81 10000 Governments were well held with
dealings confined 10 5000
New YORK Closing Stocks.
Atchison ....... 152s ST. L. & S. F.. 6i4
do pref ....... 3lhI do do pref. 1885,
BALTIC. & Ohio. 14ik 81. Paul ........ 1914
Canada Pac 90. 7OR,' do pref .......143
Canada Sou 49, 5i& 81. p. q Omaha. s7ia
Cent. Pac ...... 1923. do do pref.....143
Ches. & Ohio. 22h ST. p. NJ. e. M..i22
Chi & Alton. IN So. Pacific ...... 1917
c., b. & o.. 96& SO. Railway .... 1914
Chi & r. H.. a do pref ........ 3fib
c. c. c. & ST l. 20 Tex g. Pacific. 1885,