The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-30


22l2 bid, % asked; Electric Light and Pow
er Company 56 bid, - asked.
Bank Stocks. Etc.-Citizens Bank, 1924
bid, - asked; Chatham Bank, 42i5 bid. 43
asked; Germania Bank. 1857 bid, 1924
asked; Merchants National Bank. Sc bid,
S7i2 asked; National Bank OF Savannah,
l25 bid, 126 asked; Ogletnorpe Savings and
Trust Company, 1OS bid, 1O4 asked; South
ern Bank of the State of Georgia. 1873 bid,
100 asked; Savannah Bank and Trust
Company, 100 bid, 102 asked; Chatham Real
Estate and Improvement Company, A, So
bid, Sc asked B. 54l5 bid, SO asked; Peo-
pies Savings and Loan Company, 80 bid,
81 asked.
Factory Bonds-Augusta Factory 6s, 101
bid, lO2 asked; Enterprise Factory 6s, 100
Did lOl asked; Eagle and Phenix Manu-
featuring Company 6 per cent. bonds, 40
bid, AZ asked; Sbley Manufacturing Com
pany 6s. 101 bid l02 asked.
Factory Stocks-Savannah Cotton Fac
tory, - bid, 25 asked; Augusta Factory,
so bid, So asked: Graniteville Factory. AS
bid, 15l asked; Langley Factory, 104 bid
lOoA asked; Enterprise Factory, common,
" bid, 96 asked; ]. R. King Manufacture
ing Company, LOT BID, 100 asked; Sibley
Manufacturing Company, 20 bid, 76 ask
ed; savannah Brewing Company, - bid, s.
asked.
New York, Sept 29.-Money on call was
steady at 2d3 per cent, the last loan was
at per cent, and closed at . per cent
Prime mercantile paper, 4A65 per cent
Sterling exchange easier, with actual bus
mess in bankers bills, at 81 S424Q4.S5 for
demand, and "a. S21564. S2s4 for sixty days
Posted rates, 81. S31s04.S4 and "a IS. Com
mercial bills, $iS11@d4 S1$4. Silver certifi-
Gates 541Aq55c. Bar silver, 531ac. Mexican
dollars, Ale. Government bonds were firm
State bonds were dull. Railroad bonds were
heavy.
New York, Sept. 29-The Evening Posts
] i ,1xNr, g.. -
was a further general Improvement in the
stock markets to-day notably in invest
ment stocks. Mines were better again
Americans were fat There was a dispo-
sition here at one time to-day to buy, but
! persistent selling from New York caused
a fear that large operators there were
really unloading; hence, prices finished
| fiat, with no support
New York, Sept. 29.-To-day's stock mar
ket still further demonstrated the changed
| character of the speculation and the entire
/ suosidence of the recent rampant bull spir-
! II. The bears were more aggressive than
| at any time hitherto, and met with scarce
| ~ any opposition. They seemed somewhat
| apprehensive over their own success and
bought quite steadily during the afternoon
| OF the same stocks that had been sold
| snort in the morning. The result was to
make net changes quiet and irregular. But
| the largest figures were on the sides OF
the losses Bears succeeded in dislodging
! a number Of stop loss orders of weakly
margined speculative holdings and there
| seemed to be more long selling than has
! been the case heretofore. The declines ex-
! tended from l to points, and with very
! few exceptions affected every active stock
on the list. The bears were apparently
satisfied 20 realize on a short turn and not
leave accounts open even over night. 1t
was notable fact, however, that what
ever animation was shown, was during
the decline and the recovery was slow and
hating, and on much diminished volume
of trading.
The centers of bear attacks were stocks
of such uncertain value as Sugar and Chi
cago Gas, and the local gas stocks, which
have lately proved so easily subject to
manipulation. The evidence of a reac-
tionary tone of the speculation was shown
in the ready credence given to all rumors
of an unfavorable factor.
The cessation of the late pool buying on
large scale calls attention to the large
amount of stocks which are speeulatively
held, and to the danger that would en-
| sue from any untoWard incident that
! would precipitate a sharp decline and
| bring a flood of. selling on a falling mar
ket Such occurrence as those of to-day
do much to eliminate these elements of
| weakness, and are creating a short inter-
est which would be stimulant upon any
recurrence of a bull movement. Mean
time prices are necessarily in course of ad-
justment to the advanced money rate
which means lower prices even for sub
stantial investment stocks. There was no
change to-day in the character of the
news bearing upon the general situation.
London continued to show a disposition
to put money into American securities on
any decline. Railroad earnings continued
to show Improvement. An incident of the
day was the lowering of the actual rates
for sterling exchange "A cent, and a fall
in the Paris rate of exchange in London.
Each of these incidents indicated a re-
currence of the pressure of the demand on
London for gold Near the close of trad
ing on the exchange it was reported that
offers were made of call loans at one per
cent. Slight significance was attached TO
the offer, as having any bearing on the
money market, In which rates continued
firm Owing to the late rally prices of the
Changers, the Vanderbilts and most of the
other leading stocks show insignificant net
changes. losses, however, predominating.
The bond market did not yield so readi-
ly as stocks but prices of the most active
issues declined a sharp fraction. United
States As, coupon of 1907 advanced q bid.
Total sales 50, 100000.
The total sales of stocks to-day were
491, 600 shares including Atchison prefer
red, u, 2OS; Chicago, Burlington and Quin-
cy, 90, TO; Chesapeake and Ohio, 1855;
Louisville and Nashville. 1855; Manhat-
tan L. 10,7S0; Missouri Pacific, $500; Mis-
souri,, Kansas and Texas, 5,910; New York
Central, 12,OC5; Northern Pacific preferred,
7,7O0 Ontario and Western, 1850; Rock
Island, 29,S13; st. Paul, ex-dividend, $3.50; |
st. Paul and Omaha, $3.50; Southern rail-
way preferred, 1856; Union Pacific, d.
$50; Union Pacific, Denver and Gulf
1S,215; American Tobacco, 49, ABS; Bay State
Gas, $3.50; Chicago Gas, 52,225; Sugar, 81
S75; Western Union, 10,450; Chicago Great
Western, 1866
New York Closing Stocks.
Atchison ...... 15Ast L. & s.. F. 50
do pref ....... 32ss do pref ...... II
Bait. & Ohio -. 1917 ST. Paul ...... 96h
Can. Pacific -. TN do pref ...... 141
Cent. Pac. ...... II st. p. & ON. e. 807s !
Can. Southern >. 57h do pref ...... 143
Ches. & Ohio =. 237s ST p. NJ. & NJ. ..12O
Chi &c Alton =. 1872 So. Pacific 500. 20
Chi, b. & Q. =. 975si So. Railway -. II
Chi. & E. ILL., .. 81 do pref ....... 1875 |
C. c. c. & s. L. 36kTex. & Pac. e. 12A |
do pref ...... SSl5 Union Pacific ..23%
Del. & Hudson. .11719U. p. d. & g.. 9A |
Del. L. e. w ..15S Wabash MN. SIS !
Den. & Rio G. =. 1874 do pref ...... p