The morning news., 1897-08-20

Merchants National Rank 81 hid S7ib ask,
ed: National Bank Of savannah 12l hid
- asked; Oglethorpe Savings ana Trust
Company, lOS bid 1O4 asked; Southern
Bank of the State of Georgia $50 hid -
asked; Savannah Bank and Trust Com
pany, 100 BID - asked; Chatham Real
Estate and Improvement Company. A, So
bid asked; b 54h bid - asked Peo-
pies Savings and Loan Company, % bid,
asked.
Factory Bonds-Augusta Factory 6s, 101
bid, 1902 asked; Enterprise Factory 6s, 100
bid, 10l asked; Eagle and PhenlX Manu-
featuring Company. per cent. bonds, 40
bid, AZ asked; Sibley Manufacturing Com
pany 6s. 10l bid. 102 asked.
Factory Stocks<SaVannah Cotton Fac
tory, bid, % asked; Augusta Factory
so bid, 50 asked Graniteville Factory, 145
bid, 15l asked; Langley Factory, 104 bid,
| 1854 asked; Enterprise Factory, common
! 80 bid, SO asked; J. r. King Manufacturing
| Company, l04 bid, lO5 asked; Sibley Manu-
featuring Company, 20 bid, 76 asked; Sa-
| Vannah Brewing Company, - old, IS asked
New YORK, Aug. l9.-Money on cal was
| easy at 114Q11a per cent; the last loan was
| at IA per cent, closed offered at Ia per
| cent. Prime mercantile paper, 394Q4l2 per
cent. Sterling exchange firm, with actual
| business in bankers bills at Sl.S524 for de-
mand and 81 SS1294 .S3% for sixty days;
| posted rates, .S4laQ4 IS, and 81 S612d4 81;
| commercial bills. &2 Silver certificates,
| offered 53c; bar silver SIC; Mexican dollars,
! $3.50 Government bonds were steady;
state bonds were dull; railroad bonds were
| quiet.
New York, Aug. l9.-The stock market
| to-day continued to show itself sensitive
| to unfavorable influences to marked de-
gree. At no time during the day did the
| course of prices indicate any aggressive
| strength. The liquidation at times was
! quite heavy, especially in the Internation-
| ais and Changers
| The principal factor in the situation was
| the heavy selling for foreign account of
wteat, sales for that account being esti-
| mated at between 100000 and 100000
| bushels for the day. So much stress has
been laid for several weeks on the foreign
! need for our grain crop, as giving the
| best assurance for prosperity to the fafm-
| ing population and better times for all,
| that il was but natural that depressions
| should be caused by the disposition OF tor-
| eigners to sell back TO us the wheat they
| have purchased. Thls development IN the
! situation gave greatest aid to professional
| bears who have been working so persist
| emily for reaction in the price OF stocks.
| They were also assisted by the reactonary
| tendency in the London stock market,
| which embraced all the securities, lnclud-
| ing those OF American railways ana Whlch
was due to the hostilities which have
| broken out OF the lndlan fronuef.
market lor EedIIy an the l'teIlId tioliaiS -
Another depressing lhlluehce rle was we re-
ports Whlch are llluustIIously kspI ~
| Cuia lIOH VI SoiI'li'"eu Ooiu "0t'1 " ~
west, causing uailseI Vi d I0ss9eIl'u sp.i,.s'
! "hlch .Ie clOp anu I" "elaS III 'ii0 NAV
| " 'y,,oII OF the corn crop. ', .,.,-o. =,
ne coulSe VI ~ ~ > iti-'I , nv
udy c@uSeu ulSe s ..liIeilI - ''..
nave peeh loCFils lo5 ~ - -, -. ~
poIts oI suIu d an auui.lDiioi ~ ,S.I
III the s.ocN h'ii e,; AC'uf'i ieS0s ~, No1iI ~
| long anu sroI' S'eIliilS US go - -. -
cent III splle ol me IaCI 'iiaI VIC 0PS.i .
market ulscouI' III .H' ny
easier toHS, 'Iu Ciie.' tIS u i'
reIralne1 from duVanciHs l's iii'ii"' uiii
IarS ,,,, oL ulscouiI ,.
o..dt,,lS ea1Iiro ~ Sroarican eecurities for
| foreign scconnf heIned 10 stiffen exchange
rates The failure of the Bank of England
| to advance ire rate of discount is regarded
as evidence that no fear is felt of an i'm
| nnediate drafn of gold from London. These
nombined canses effected ouite a marked
reaction in the nrice of stock generally.
| ara mis- was accelerated nv the discover
10 of ston orders nm the selling move
roept seemed fo lose its force i'm a short
| time and the market turned into extreme
! d,,1lress Snnnor+ing orders were found TO
he fortbcomipe At tbe low point and those
who had sold ont apparentlv wanted 20
| buv stocks again and hold for a rise.
s,,sor wa. ouita a nrominent feature and
| toucbed a new high record at 15O aiding
materially in rallying the market. 1t sold
Off again to near the lowest. A buying
demand for CoaIers, late in the day, was
/ also of material assistance in raising prices
! from tho low point. The bears raided the