The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-26


Ocean Steamship 8 per cent bonds, 1895
105 hid, jos asked; City and Suburban rail-
road first mortgage Z per cent bonds a
bid = asked; Alabama Midland per cent
Endorsed, IS bid, 81 asked; Brunswick and
Western As, Is bid so asked; South Bound
railroad os. 6 bid, 20 asked; Southern Rail-
way 5s, 92k bid, 93l2 asked; Georgia and
Alabama first preferred IS, 1902 bid, 1903
asked; Georgia and Alabama first consols
so bid, 81 asked.
RailrdRd Stocks--Augusta and Savan-
nah, SAG bid, 95A asked: Georgia Common
172 bid, IT'S asked; Southwestern 94Ib bid.
e5A asked; Atlanta and West Point stock.
1O4 bid, l05 asked; Atlanta and West
point per cent. ,certihcHJes, 1902 bid 1884,
asked Savannah Construction COMPANY.
81 bid, 20 asked.
Gas Stocks-Savannah Gas Light Stock.
p bid, 22l5 asked; Electric Light and Pow
er Company 81 bid. 60 asked
Bank Stocks, Etc.-Citizens Bank. 1897
bid, HOE asked; Chatham Bank, As bid, 46
asked Gsrmania Bank, 100 bid 10
asked Merchants National Bank. 9l15 BID.
92ls asked; National Bank of Savannah,
126 bid. ~ asked; Oglethorpe Savings and
Trust Company, 104 bid, los asked; South
erD Bank of the State of Georgia, l5S bid.
100 asked; Savannah Bank and Trust
Company 1o1 bid, 1902 asked; Chatham Real
Estate and improvements Company, A. 551h
bid 5614 asked; B, SAY bid, So asked; Peo-
pies Savings and Loan Company, 81 bid,
| 95 asked.
Factory Bonds-Augusta Factory 6s 101
bid, 102 asked; Enterprise Factory Is, 100
bid, 101 asked; Eagle and Phenix Manu-.
featuring Company per cent. bonds, 40
bid, ~ asked; Sibley Manufacturing Com
pany IS, 1O1 bid, 1o2 asked IA
Factory Stocks-Savannah Cotton Fac
tory, = bid, Is asked; Augusta Factory.
80 bid, So asked; Graniteville Factory, las
bid, 151 asked; Langley Fac tory, 1914 bid,
1854 asked; Enterprise Factory common,
| SO bid, SO asked; J. fR. King Manufactur-
ing Company, 104 bid 105 asked; Sibley
Manufacturing Company, 20 bid, rs asked;
Savannah Brewing Company, 80 bid, IS
asked.
New York, Oct 25-Money on call easy
| at per cent; the last loan was at per
cent, closed offered at 2 per cent Prime
| mercantile paper, 4d41k per cent. Sterling
| exchange strong and active, with actual
| business in bankers bills at s4.S55sQ4 .85a4
| for demand, and at "a .825s04 .S234 for sixty
days. Posted rates, 81. S3q4 S312 and 81 So
| @4.S61R Commercial bills, $4.S1R. Silver
| certificates, 57121l59o Bar silver, 5Sc. Mex
lean dollars, 45c. Government bonds firm
er; state bonds duh; railroad bonds were
weak. got
New York, Oct. 25.-The Evening Post $
London financial cablegram, says: 1.-THE
| stock markets were dull to- fiat to-day
Americans were specially weak, monetary
considerations, the nearnesssof sthef set tie4
Ements ana the Cliban question being given
| as reasons for the weakness; but there is
no doubt that-the fact that a number of
| options will fall rdue at the end of the
month, induces dealers to keep down
! prices 1t is not likely that the Bank of
| Englanh's discount4rate will advance this
week, but the German rate may possibly
| go up. The average contango on Ameri-
! cans at the settlement tomorrow will
! probably be Az per cent. The Paris and
| Berlin markets were weak all day, Paris
being large seller of Kaffirs.'
New York, Oct. 25.-The conviction that
| a rupture in our relations with Spain will
| ultimately result from the Cuban ques.
ton, the danger that the Union Pacific
! reorganization plan viii be upset by the
! governments desire to postpone the sale
and the weakness jim New York Central,
due to yesterdays disaster on its line,
| combined to break the stock market to-
| day and demoralized prices throughout the
] list.
The lower prices for American securities
| in London and the decline In the price
| of Spanish As there of * per cent. to
| 1913, were accepted as a measure of the
apprehension felt there as to the harm
| that would be done to values by the
| threatened rupture The opening showed
sharp declines in the international stocks
and the specis&ties, and by noon loss IS
| of a point or over had spread to practi-
| cally every active stock in the list There
was a lull in the activity of the liquida-
| ton at that time and a steadying OF
! prices, based onga hope that the supreme
! court would hand down favorable de-
| cision in the Nebraska maximum fright
| rate case, and that prices of railway
| property would tend to improve as a
| result. A sharp rally in Chicago Gas on
| the announcement of the declaration of
! the regular dividend, helped to steady the
| list But the afternoon was given TO al
ternate periods Of active liqudatons and
| fast falling series and of stagnation and
| slight rallies.
The announcement of the. governments
! decision to apply for postponement of the
| foreclosure sale of the Union Pacific and
Kansas Pacific properties brought out
| enormous liquidation of Union Pacific
| stocks. There vas no check apparent
In the liquidation or in the fall of the
| price as the result Of the announcement
| of the Organization Committee that il
! intended to bid in the Union Pacific main
line, if need be- for the full amount of
| the governments claim. This would in
| volve an increase Of So, coo, 900 over the
latest upset price which the syndicate
| agreed to pay the government. and OF
| over sl2,000,000 of the price fixed at the
/ time the reorganization plan was agreed
! upon. The purpose of the reorganization
| committee to divide the REORGANIZATION of
the Union Pacific main line and the Kan
sas City into Two companies. failed to
| quell the doubts Of those who have spec.
ulated in the Union Pacific on the basis
| of the present reorganization plan. The
! apparent intention of the government to
relegate the whole matter to congress
! awakens fears amongst the holders of the
| shares that delay VIII attend completion
| of the reorganization.
| The government second mortgage on the
Kansas Pacific for about %4,0OO,OOO is uh-
| provided for. and the reorganizat ton com
mttee take the stand that the govern
| ment will be allowed to bid the property
| in IL 1T Is not willing to take the bid
| Of the committee. The fear that this
would endanger the plan of reorganiza-
| ton evidently augmented the selling. The
| sales of the stock constituted one-eighth
| of the total transactions of the day.
| The days net declines IN all the active
| stocks ran from ! per cent. 10 over 2 per
cent, and in Consolidated Gas reached "a
| per cent. The yanderbilts We're conspic,
uously weak. A sharp advance of q IL,
thes actual rates for demand sterling ex.
change was feature of the day. ana
was a reflection of the rising rate Of dis
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