The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-07

Il
| preferred incomes. ia bid, S1s asked Geor-
| gia railroad IS, 1910. 1151s bid. III asked /:
| Charlotte, Columbia and Augusta first IS
| los bid, 100 asked; Charlotte, Columbia
| and Augusta second mortgage rs. 1l6 bid
| III asked; Georgia Southern and Florida
new 5s. Sc bid, 81 asked; South Georgia
| and Florida first mortgage Is, 1921 bid
| 1895 asked; South Georgia and Florida
| second mortgage rs, 103 bid, 105 asked );
| Ocean Steamship per cent. bonds, 1876,
los bid, LOG asked; City and Suburban rail-
| road first mortgage Z per cent bonds "a
bid asked; Alabama Midland per cent.
| Endorsed, - bid, 80 asked; Brunswick and
| Western As, Is bid. so asked; South Bound
railroad 5s 65 bid 20 asked: Southern Rail-
way S. 90 bid, 90 asked; Georgia and
| asked Georgia and Alabama first consols,
50 bid, 50 asked.
Railroad StocksAAugusta and Savan-
nah, "a bid 941k asked: Georgia Common
| III bid, 175 asked; Southwestern 9S1b bid
| 94A asked; Atlanta and West Point stock,
| 1903 bid, 105 asked; Atlanta and West
| point. per cent. t-ertincaIes 102 bid 1921
| asked; Savannah Construction Company,
| g bid, '6S asked,
| Gas Stocks-Savannah Gas Light Stock,
q bid. 221s asked; Electric Light and Pow
/ err company. - bid, 90 asked.
Bank Stocks, Ete.-Citizens Bank, 1924
bid, HOY asked; Chatham Bank, IS bid 46
1
| asked; Merchants National Bank, 91h bid,
| 80 asked; National Bank of Savannah,
| 126 bid, - asked; Oglethorpe Savings and
| Trust Company, 14 bid, - Asked; South
| ern Bank of the State of Georgia, 1853 bid,
| los asked; Savannah Bank and Trust
| Company. 101 bid, 102 asked; Chatham Real
| Estate and Improvement Company, A. So
| bid, 81 asked; B, So bid. 551h asked; Peo-
pies Savings and Loan Company, 95 bid
| SO asked. rf ae
| Factory Bonds-Augusta Factory 6s, 101
| bid, 1902 asked; Enterprise Factory Is, 100
bid, 101 asked; Eagle ana Phenix Manu-
| featuring Company per cent. bonds, 40
bid. AZ asked; Sibley Manufacturing Com
| pany Is, 101 bid, 102 asked.
| Factory Stocks-Savannah Cotton Fac
| tory, - bid, Is asked; Augusta Factory,
| 50 bid, SO asked; Granlteville Factory, 145
| bid, 151 asked; Langley Factory, 104 bid,
| 1O5k asked; Enterprise Factory, common,
| SO bid. SO asked; ]. r. King Manufacture
| ing Company, 104 bid. 105 asked Sibley
| Manufacturing Company, 70 bid, 76 asked:
Savannah Brewing Company, 80 bid. IS
| asked.
New York, Nov. 6-Money on call was
nominally at 11kd2 per cent. Prime mer-
| camille paper, 3%@415 per cent. Sterling
| exchange steady, with actual business in
bankers bills at $4.S5as@4.S51S for demand
| and $4S21Sd4.829 for sixty days. Posted
| rates, $4S3d4S61a. Commercial bills, &S2
I
| State bonds were dull; railroad bonds were
| firm; government bonds were steady.
New York, Nov. 6.-The weekly bank
| statement shows the following changes:
| Surplus reserve, decrease, $3,090,575; loans
| Increase. $685., 800; specie, increase, 1884,
| 700; legal tenders, decrease, Sl904.3OO; de-
| posits, increase, 1908 800; circulation de-
crease S21, 300. The banks now hold 21,181,-
| 225 In excess of legal requirements.
/ New York, Nov. 6-The exports of spe-
/ Gle from the port of New York for the
week amounted to $12,1S0 in gold and $7O2,-
III in silver. The imports were: Gold,
| S79, sol; silver, $94, BOG; dry goods and gem
| eral merchandise, Sc, S13.
| New York, Nov. 6.-The Evening Posts
| London financial cablegram says: THE
| stock markets were idle to-day in view of
| the settlement in mines. which is to COM
mence on Monday next. Americans were
1 about at the parity. There is no initiative
| here where the speculative position is quite
| small and that principally a stale bull ac-
1 count carried for New York. Trade re-
| turns for October are unsatisfactory. Inn
| ports decreased 1851, 900 and exports f1,4OO,-
| 900, the latter chiefly due to falling Off
| in exports to the United States.
New York, Nov. 6-There was some nat
| ural tendency toward recovery in prices
| at the opening to-day in view Of the heavy
| and rather excessive declines of yesterday
| and Of the active covering movement in
! progress at the close of the market yes
| terday There had been recovery In the
| prices of Americans on the London eX-
| change before the opening here. The op-
| ening there showed declines to the New
1 York parity but the level was sharply
| above the New York level by the time
| the market opened here. This encouraged
| purchases here and number of stocks
| opened over a point higher than last night.
The London market for Americans has
| grown so narrow and the floating supply
| of stocks there is so small that prices
| there are easily subject to manipulation
| for effect on the opening trading here.
| There seemed ground for suspicion that
this mornings rise in London was due to
| some such effort from this side. At all
events the rise which was thus stimulated
| here led to quick taking of profits and
to some further liquidation of long ac-
| counts carrying prices below last nights
| level. THEY hardened again, but eased
| off finally, leaving fractional net gains in
the majority of cases. The decrease in
| surplus reserves shown by the bank state
ment probably induced some selling,
though the change was due in greater part
| to the neavyc ineF ease in deposits and the
| consequent raising of the legal reserve
| limits than to the actual decrease in cash.
| The large increase in loans, in face of
| the heavy speculative accounts that have
| been closed out on the stock exchange
| during the week, probably has something
to do with the Union Pacific sale.
The week has seen a total loss of con-
fidence on the part of bull operators, who
have been looking hopefully for the turn
in the tide of reSction on the Stock Elk
change. On Friday there was heavy
liquidation of long holdings, and sharp
decline In prices, and, so far as appear
ances go. no buying support for stocks at
any concession, however violent. The os-
tensible motive was fears of war with
Spain on account of Cuba, which were in
tensified by the call from the chamber of
commerce for increased force to man
our coast defenses and by the nature of
public utterances of the United States
ex-minister to Spain.
The depression took on rather an ar
tificiai and efeverish tone before the day
was over. and absurdly sensational ru-
mors were put in circulation to keep prices
down while shorts covered.
These incidents. coupled with to-day's
recovery, are significant technical indca-
tons of a elimination Of market move
ment just as heavy buying, circulation of
roseate views sharp rises in prices and
-