The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-08-01


so bid, 50 asked; Granitevine Factory, 145
bid, Isl asked; Langley Factory, l0i bid,
1854 asked; Enterprise Factory common.
50 bid sc asked; j. r. King Manufacturing
Company. 10i bid los asked; Sibley Manu-
featuring Company 20 bid, &c asked; Sa-
vannah Brewing Company. - bid IS asked.
New York. July 31.-Money on call was
steady at 1Qlls per cent. Prime mercan-
tile paper, 3d4 per cent. Sterling ex-
change firm, with actual business in bank
ers bills, at S4.S73s for demand and at
S4.S6A for sixty days. Posted rates. AS7@
4.S7l2 and ASSq 1852. Commercial bills,
S4.S5lz. Silver certificates, $3.50. Bar sill
Yer, 577sc; Mexican dollars, 45l4c. State
bonds were quiet; railroad bonds were
firm Government bonds were firm.
New York, July 31.-The weekly bank
statement shows the following changes:
Reserve. decrease SCH 425; loans, in
crease, 81. 19l,60; specie, increase, $ll9590;
legal tenders decrease, 81, 631, l0O deposits,
increase. $519 800; circulation, decrease,
$1S,500 The banks now hold $45, TO $50 in
excess of the requirements OF the % per
cent. rule.
New York, July 3t.-Tradng was inclined
to he erratic in to-day's stock market,
opening with some improvements, low
priced stocks being in special demand. 1t
became Irregular and standard securities
eased off some on realizations, closing
with irregular fractional changes either
way. The London Stock Exchange being
closed to-day as well as Monday, arbi-
TRACE brokers did nothing in this market.
Northern Pacific securities continued in
heavy demand, with the preferred rising
lis, it being largely bought by a house re-
garded as representing important specula-
tive interests Sugar was quiet and the
Changers and Southwesterners rather
Jagged. Room traders sold Changers be-
cause of the slackened demand for those
cha If
The total sales of stocks to-day amount
ed 20 162, $50 shares including Chesapeake
and Ohio, 1926; Northern Pacific, 6S04;
Northern Pacifi, preferred 1865; St. Paul,
800; Chicago Gas, $500; Colorado Fuel and
! Iron preferred, Ills; Quicksilver, 5000;
Chicago Great Western, 6006.
The stock market had advanced so long
partly in anticipation of a settlement of
the tariff, that the enactment thereof mad
no apprecable effect at the beginning OF
the week. Stocks were irregular, but
many advances were made on constant
increase in public interest, the rise over
&c in the price of wheat and the enormous
daily average, nearly 100000 bushels, Of
wheat engaged for export. A favorable
feature was the falling off of about
100000 In the imports and commercial
agency reviews showing increased bust
| ness with western jobbers, compared with
last year, and that nearly every northern
I
The total transactions for the week was
in bonds, the largest in the last two years
at advancing prices, unfavorable features
were the tagging of the iron market be-
hind the Improvement and the closing of
several ccaton mills. Government bonds
lefe tied the public confidence in making
top price records while stocks and bonds
long neglected We're very active, owing
| to present crop estimates and improving
| railroad traffic. The market was broad
and many top records was scored. Re-
ports of earnings both weekly and month
ly, gross and net, were generally pleas
ing, regardless of the existence OF the
great bitUminous coal strike.
The scope of the market was apprecia-
bly, extended on Wednesday, and brisk
purchasing movement, embracing an eX-
tensive variety Of shares, ensued. The
prominence of certain shares gave rise
to reports that a powerful interest was
operating to enhance values. This receiv-
ed some credence, and stimulated heavy
covering by the shorts Late crop adj
vices were more reassuring. Rumors of
possible resumption of dividends on GER
tain internationally listed properties caus-
ed London to repurchase heavily of for
eign favorites and take round amounts of
speculative mortgages. The Anthracite
Coalers moved spasmodically, but dis
played considerable strength on revived
reports of impending excellent trade pros
poets. Local gas shares sharply advanc-
ed on oft-reported consolidation Of lead
ing companies, which lacked verification
from official sources. The feature in the
silver was the fall in bars to q Sled in
London, and a corresponding fall here,
with Mexican dollars down TO 45c, all low
price records for the white metal. on
covering of shorts In London there was a
partial recovery in the silver market,
which subsequently slumped, closing 577sc
fOr har 10 4
Money on call was loaned generally at
l per cent, with some few transactions
at IA, and small amounts at per cent.
The supply of time money exceeded the
demand, but the transactions reported
were at unchanged quotations The ster-
ling exchange market was strong and
warranted the shipment of about $1,000. 600
gold, a portion of which was covered by
sales of bills in the open market. There
was also an export of 100000 gold 10
Canada. The continent continues dispos-
ed to import gold, which goes largely into
the Bank of France. Actual business in
bankers bills closed at s4.S7% for de-
mand, and 1876 for sixty days
The changes of points and over for the
week show % advances compared with 8
stocks showing losses.
The bond market during the week was
characterized by a wide expansion in deal
ings, which include numerous of the US
ed materially. The market generally dis
played aggressive strength on the devel-
opment of pronounced inquiry for invest
ment and speculative account, which en-
braced all classes Of securities. Purchases
for continental account were on a large
scale. but some of the active issues were
sold for foreign account. The aggressive
transactions were $l8,O00OO0. The principal
advances were: Missouri Pacific consol 6s,
~ per cent; do collateral 5s, per cent;
do thirds, 81 Flint and Marquette, 8:
Port Huron division 7h Kansas Pacific
consols trust receipts GSs; do 6s of 81, trust
receipts. 3; ST. Paul, NJ. NJ. Montana Cen
trail 6s, 6z; Peoria and Eastern incomes
and Iron Mountain stamped 5s5;do general
5s, pa; Atchison, Colorado and Pacific lists,
~ Long Island Ferry, AZ. and oregon
Short Line incomes. series A. 4; do consol
IS. 2lk. Atchison adjustments As, 32 Sus-
quehana and Western general and Union
Pacific sinking fund, ss,8A STANDARD Rope
incomes, Colorado Coal and Iron SIS, Union
Elevated lists. and Wabash ends 3: do de-
bentures, series y, Kansas and Texas 5s.
and Seaside and Brooklyn Bridge lists,
2ia; Southern Pacific OF California lists,
2i4; International and Great Northern