The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-03


preferred incomes, bid. 10 asked; Geor-
gia railroad 6s. 1910. ll4ls bid, 1l6i5 asked:
Charlotte, Columbia and Augusta first 9s,
105i9 bid, asked; Charlotte, Columbia
and Augusta second mortgage Is, ia bid,
lis asked; Georgia Southern and Florida,
new IS, IS bid, 80 asked; South Georgia
and Florida first mortgage IS. 1924 bid.
1884, asked South Georgia and Florida
second mortgage Is, 1902 bid 1913 asked;
Ocean Steamship 5 per cent. bonds, 1926,
los bid, 105 asked; City and Suburban rail
road first mortgage per cent bonds, 50
bid, 50 asked; Alabama Midland per cent.
Endorsed, IS bid. 81 asked; Brunswick and
Western As, So bid, 10 asked; South Bound
railroad IS, 65 bid 10 asked Southern Rail-
way 5s, 93Ia bid, 94ls asked; Georgia and
Alabama first preferred 5s, 1903 bid, lO4
asked; Georgia and Alabama first consols,
| s. bid SO asked.
Railroad Stocks-Augusta and Savan-
nah, SO bid, 50 asked; Georgia common,
| 172 bid, IFS asked; Southwestern, SO bid, S412
asked; Atlanta and West Point stock, 1O2l2
bid, 1O31a asked; Atlanta and West Point
6 per cent. certificates l0S bid, 100 asked;
Savannah Construction Company, 67 bid,
| 10 asked.
Gas Stocks-Savannah Gas Light Stock
221z bid, % asked; Electric Light and Pow
| er Company, Sc bid, - asked
Bank Stocks, Etc.-Citzens Bank, 1924
bid, asked; Chatham Bank, 42l3 bid, 4S
| asked; Germania Bank. 1882 bid, 1924
| asked; Merchants National Bank 81 bid,
SSIb asked; National Bank of Savannah.
125 bid, 126 asked; Oglethorpe Savings and
| Trust Company, 1903 bid, 104 asked; South
ern Bank of the State of Georgia, 152 bid,
155 asked; Savannah Bank and Trust
| Company, 100 bid, 102 asked Chatham Real
! Estate and Improvement Company, A, SO
bid Sc asked; B. SAY bid, 55 asked; Peo-
pies Savings and Loan Company, SO bid,
| IS asked.
Factory Bonds-Augusta Factory 6s, 101
| bid, 1902 asked; Enterprise Factory Is, 100
| bid 101 askedi, Eagle and PheniX Manu-
| featuring Company per cent. bonds, 40
bid AZ asked; Sibley Manufacturing Com
pany S. 1O1 bid 102 asked.
Factory Stocks-Savannah Cotton Fac
| tory = bid, 25 asked; Augusta Factory
80 bid So asked, Granitevlle Factory. AS
bid 151 asked; Langley Factory, 1O4 bid
| 1854 asked; Enterprise Factory, common
90 bid. 96 asked; j. r. King Manufacture
ing Company, 104 bid. 1906 asked; Sibley
| Manufacturing Company 70 bid 76 ask
ed; Savannah Brewing Company, 50 bid,
SS asked.
New York, Oct. 2-Money on call was
nominally at 21aQ3 per cent. Prime mer-
| camille paper, 414d75 per cent. Sterling eX-
| change weak with actual business in bank
ers' bills at $4.S41k@4s4s4 for demand, and
| at $4.S21a for sixty days. Posted rates,
| $4. d485l2Q4.S6. Commercial bills, $4.S1.
Bar silver, 561ac. Mexican dollars, 43c.
| State bonds were quiet; railroad bonds
were strong; government bonds were firm.
| New York Oct 2-The 81 100000 in gold
| received from the Deutsche bank of Ber-
lin by the National City Bank of this city
| yesterday was to-day sent TO the sub
| treasury for examination. Latouraine of
| the French line, which arrived this morn
ing, brought over $1,O00,000 in gold for the
Hanover National Bank. This consign-
L.
| for examination.
| New York, Oct 2.-Weekly bank state
ment: Surplus reserve, decrease, SAL, JOG;
| loans. decrease, 1882, 600; specie, increase.
| $494, 500; legal tender decrease, 81, 442, 300;
deposits. decrease Sc, O02, 800; circulation, in
crease, $S2l,000. The banks now hold $15,-
| $50 400 in excess of legal requirements.
| New York, Oct. 2-The Evening Post s
| London financial cablegram says: "A
| further rise in stocks was recorded to-day.
| Americans were strong and closed at the
| best. More American bills were offered
| and there was renewed talk of gold ex-
ports, but there is nothing definite to re-
| port"
New York, Oct 3.-The marked strength
in stocks which developed in the late trad
| ing yesterday, was resumed this morning
| in full force and continued with only one
| momentary pause from the opening until
| the close of the short session. The buying
was eager and the covering of short con-
| tracts put out during the Two weeks reac-
ton in the market appeared to be urgent.
| There was every Indication that the reac-
ton had run its course and the agents en-
| poyed by the leaders Of the former bull
| campaign were buyers on a large scale.
| The stocks that have shown the sharpest
| declines recently were foremost in the re-
| covery. Prices of Americans were ad-
| vanced in London before the opening here
and arbitrage brokers bought for London
| account. The stocks which were favorites
in the London buying were those that have
| recently suffered most severely from Iqui-
dalton of foreign holdings rejecting a
marked change i'm foreign sentiment.
An additional fall in the rate of Sterling
| Exchange of Il for demand bills to $4Sfa
made 1t evident that additional gold inn
ports cannot be long delayed and probably
| helped the market, though gold is so plen-
| tiful at this center at present, that some
| of the banks are settling their daily bal
ances at the clearing house in that metal.
| The weekly statement of the clearing
house banks was also interpreted favora-
bly,. The statement clearly reflected the
| pains the banks have been at to prevent
any further heavy shrinkage in their sur
plus reserves. The Withdrawals OF depos-
| IT'S, $6,0G2 800 is partially offset by a con-
| traction in loans of "a ,592, 900, making a to-
| tai contraction for two weeks of 81. 800 300.
The Withdrawals of deposits find an addi-
| t.ona reflection in the decrease in legal
tenders of $2,442, 300, which was offset by a
net increase Of $495,500 in specie, so that
the actual decrease in cash was only about
| S2,0C0,000. The more profitable rates for
! money have induced an increase in circu-
lation Of s221,000. There is no doubt that
| Withdrawals of deposits would have been
much larger had il not been for a falling
off in the demand for currency shipments
| to the south, due to decrease in the move
ment of the cotton crop caused by the yell
low fever guarantees. The decrease to the
south has been Offset by demand from the
eastern and middle states to meet October
interest dividend payments. and by New
| York requirements for payments of taxes.
To-day's net gains in prices of stocks
ran from l to per cent, the advance be-
| ing in full tide when the market closed.
The bears have been masters of the situa-
ton and there has been no aggressive eff
| fort in opposition to their successful at
tempt 10 beat down prices until to-day
The large buying interest which was so
| potent force during the prolonged period
of the rise which eliminated two weeks
ago. had apparently ceased operations and
! the brokers who had come to be recogniz-
| Cd ac no i'm mt nf IL,