The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-05
THE MORNING NEWS: SUNDAY, DECEMBER 5. 1897

975; loans, increase, 50, 476, 500; specie, in
crease, $539.so0; legal tenders, increase.
SS21,0OO; deposits, increase, Sc, 4l7l0O; cir
eulation, decrease, 1913, 100. The banks now
hold $50. 122, $50 in excess of the . per cent.
required by law.
New York, Dec. 4-The Evening Posts
London financial cablegram says: The
stock markets here again were stagnant
to-day. Americans were steady, but life
less, pending President MckinleyS mes
sage The tone was hopeful. The con-
unued fail in Indian exchange eXcites at
tentlon. 1t is pardy due to purchases OF
silver and to anticipation OF the resump-
ton of weekly consol drawings"
New York, Dec 4.-To-dayS market was
almost entirely devoted to room traders,
and they seemed disposed to depress prices
during the early part of the session a. i by
response, and they covered before the
close, bringing prices, in most cases
slightly above yesterdays close. The
movement of prices was, however, trivial
throughout the day, except in few spe-
clal cases. Sugar was traded in for the
most part at below yesterdays close, the
supply OF stocks being apparently large
on any advance.
Chicago Great Western showed strength
on its large increase of earnings for the
fourth week in November. Susquehanna
and Western continued to rise IN price,
and Delaware and Hudson of the group
symDathized.
The days news, so far as it was re-
garded, was favorable statements OF
fourth weeks earnings that We're publish
ed, showing large earnings and handsome
increases. There has been nothing IN the
general requirements of the money mar
ket during the week to account for the
expansion of $3,4765O0 in the loans, ana II
is probably due to borrowing on exchange.
1t is estimated that over 100000 of for
eign exchange bills have been allowed to
accumulate in this city during the week
and the fact of that prices of exchange
have not been nominally lowered, show
that money has been loaned abroad
There is also continued investment buy.
ing of long exchange in anticipation of
the usual return movement of trade after
the first of the year. Unless the import
movement of general merchandise shall
become very heavy in the next few
months, London exchange must prove a
poor investment, in view of the enormous
out-go of merchandise of the last few
months.
London advices during the week have
reported a very heavy American demand
on that market for high grade Amer!-
can bonds. The same demand has existed
in the New York market.
The activity of the bond market has
been a feature of the Stock Exchange all
the week, and the total dealings IN bonds
on Thursday aggregated near-y A7O0OOO.
The activity of the stock market has been
spasmodic.
The week opened with evidences of an
awakened outside interest in the market
owing to the sharp advances or FRIDAY
and Saturday previous. But the buyers
of that period took occasion to realize on
Monday, and turned prices backward
again. Tuesday and Wednesday the bulls
loaded up again and prices slowly hard
ened. Thursday opened with great ami
nation and rising prices, but While the
animation continued the rise soon came to
a stop, and soon prices were falling quick
ly and sharply. The market showed no
sign of recovery either Friday or to-day.
The reactions have not, however, wiped
out all gains, and the week shows net
gains between one and two points in many
leading shares, and exceeding points in
some. Free offerings of stocks on the ad-
vance shows the disposition to await the
shaping of policies by congress before
buying securities to hold.
The bond market has shown less hest
fancy than stocks and prices have stead
lily advanced, though periods of iessened
activity have accompanied the declines in
stocks.
Total sales were $40, 100000. United States
higher bid, the Is, - higher bid, and the
old As regulars and the 5s regulars are I'M
changed, the former ex-interest.
The total sales of stocks to-day We're
90.&l0 shares,