The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-20

so bid SO asked; Graniteville Factory. las
bid, 15l asked; Langley Factory 1O4 bid,
lO5A asked; Enterprise Factory, common,
W bid, So asked; j. R. King Manufacturing
Company, 104 bid. 105 asked Sibley Man
ufacturing Company, 20 bid, 76 asked; Sa-
vannah Brewing Company. - bid, IS ask
New York, July 19.-Money on call was
quiet and steady at l per cent; the last
loan at per cent. and closed 15d1 per
cent. Prime mercantile paper, 3q4 per
cent. Sterling exchange steady, with ac-
tual business in bankers bills at 81 S76
4.S7A for demand and 4.S6@4. S614 for six
ty days. Posted rates, $4.S7l5, and 1850
4.sS1a. Commercial bills, 81. S5. Silver GER
titicates 60hq605sc. Bar silver. 60Ac;
Mexican dollars, 467kc Government bonds
We're firm; state bonds were quiet; rail-
road bonds were strong.
New York, July 19.--The Evening Posts
London financial cablegram says: The
stock markets remain quiet but they were
of good tone to-day. If the British pub
lie is not inclined to buy they are equally
disinclined to sell. A feature to-day was
the rise in Americans, notably in st. Paul
and in Louisville and Nashville. The mar
ket here was caught short in these shares.
The provinces are said to be bears of St
Paul, but, indeed, stock of all the leading
favorites is very scarce here Leading
1obberS in Americans are talking very
bulish; to many the wonder is how the
rise is still maintained with so little of
English support. The close was under the
best. Colonial stocks were better. 1t is
said that the market has been manipulated
to favor some new Australian loans
Grand Trunk was better, with American
mines firm. The rupee loan Of crores has
been announced in India. The details are
not quite as cabled in all respects.
gather that the issue will correspond with
the present 312 per cent. on the market.
The Paris and Berlin markets were firm"
New York, July 19.-The stock market
to-day was almost unparalleled for a
July days trading, both in activity and
strength. Such influences as a movement
of gold to Canada, some decreased earn
ings for the second week of July were
brushed aside as chaff, and nothing was
talked Of on the exchange but speedy ac-
ton on the tariff bill ideal weather for
excellent crops and foreign demand for
our securities as well as grain. Enormous
dealings in bonds at advancing prices was
fit accompaniment for a broadening
stock market. BY all odds sugar was the
great feature. The trade is realizing that
the refining interest had secured the re-
porting of a sugar schedule that if adopt
ed by congress, would mean a profitable
business for the sugar company for the
ensuing four years at least. Sugar
scored an extreme advance for the day
of 1874 touching 1441b breaking previous
high record prices. At the very opening
5000 shares were sold at from 1876 to 1879
Tremendous blocks of the stock changed
hands at almost uniformly rising price
Six thousand shares were taken by
brokerage house reputed to represent a
most powerful interest which is credited
with having recently acquired large guam
titles of that security. The argument
that the new sugar schedule would result
in some increase in protection over that
in ia Ia ctr Cd
extensive covering on the part of shorts
who temporarily at least lost faith in their
previous position. The tumultuous scene
a the sugar post continued well through
out the day, 10000 shares having been
sold. In the closing hours the stock
eased off a trihe, receding pa below the
best, but loaned at IA per cent. premium
for use over night. Sugar preferred also
had shown an extreme gain for the day of
3 per cent, two points of which were lost
later.
The slackening demand for the specula-
tive leader only slightly modified the pro-
nounced bullish developments in the rest
of the list. Standard shares however
showed an average rise at the close of to
per cent. London was caught short In
both St. Paul and Louisville and Nash
vile and the foreign purchases considera-
bly, exceeded the sales. The railway list
was generally influenced by further re-
ports of foreign crop shortages, and pre-
diction of improved earnings due to the
excellent progress of American crops
A number of railway shares made new
record prices especially the Granger
roads. Chicago Gas, on reports of an
other dividend being possible on the pres
ent trust receipts, and American Tobacco
on the concessions made on the tobacco
and cigarette schedule, each closing at a
point advance. OF the lower Industrial
shares, Rubber preferred lost a point. and
Leather lost r. Reading preferred stocks
on improved trade conditions rose over
point The total sales for the day were
1890 shares, including Atchison $500;
Atchison preferred, l5,s0; Burlington, 800;
Louisville and Nashville. 1l725; Missouri
Pacific. 1890; Northern Pacific preferred.
l2,SS5; Reading IS, 100; Rhode Island 1870;
ST. Paul 1896; Southern Railway prefer
red, 5,235; Tobacco, 1870; Chicago Gas 49,
325; Lead. 1902: Sugar, 1856 Sugar pre-
ferred, $685.; Leather preferred, 1900.
The bond market was featured by enor-
nous transactions. which aggregated 49,
40 600, and included an extensive variety
OF issues. The tendency OF values was
upward throughout which thoroughly re-
Elected the growing confidence in the
financial and commercial situation. Pur-
chases by foreign interests was generally
noted and round amounts of the specua-
tive issues were taken for local account.
The extreme gains ranged up 20 per
cent. with oregon Improvement IS trust
receipts leading. Governments were neg
lected, but generally firm.
New York Closing Stocks.
Atchison ........127s St. l.. g. S. F.. 81
do pref ........ - do do pref eco. SO
Bait. q Ohio o.. lOat ST. Paul ......... @i5
Can Pacific 667s do pref .........1i0lk