The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-05

/ iOHN lll6l InOItSdSe 4 per cent. ponds. 40
| bid, 81 asked; Alabama Midland per cent
| indorsed IS bid, 81 asked; Brunswick and
/ Western As, 60 bid, 20 asked: South Bound
| railroad 5s, So bid 20 asked; Southern Rail-
way 5s 9Sle bid 941a asked; Georgia and
Alabama first preferred IS, 1903 bid, 1O4
asked; Georgia and Alabama first consols,
81 bid. So asked.
Railroad Stocks-Augusta and Savan-
nah, SO bid IS asked; Georgia common,
| III bid, 173 asked; Southwestern, 80 bid. 81
asked; Atlanta and West Point stock,
lO215 bid, 1881 asked; Atlanta and West
Point per cent. certificates, 1903 bid, 1O5
asked; Savannah Construction COMPANY.
81 bid, 20 asked.
Gas Stocks-Savannah Gas Light Stock,
2212 bid, % asked Electric Light and Pow
er Company. Sc bid, - asked.
Bank Stocks, Etc.-Citizens Bank, 1921
bid, = asked; Chatham Bank, AZ bid. 1924
asked; Germania Bank, 1887 bid, 1O9J4
asked; Merchants National Bank 81 bid
! 6S12 asked; National Bank of Savannah
125 bid, 1875 asked; Oglethorpe Savings and
Trust Company, 10S bid 1O4 asked; South
ern Bank of the State of Georgia. 1872 bid
| l55 asked; Savannah Bank and Trust
| Company 100 bid, 102 asked Chatham Real
| Estate and Improvement Company A 90
| bid, Sc asked; B, SLY bid, SO asked; Peo-
| pies Savings and Loan Company, 90 bid
| 50 asked.
Factory Bonds-Augusta Factory IS, 101
bid 102 asked; Enterprise Factory 6s, 100
bid 10l asked; Eagle and Phenix Manu-
! featuring Company per cent. bonds, 40
bid, ~ asked; Sibley Manufacturing Com
pany Is, 1O1 bid 102 asked.
Factory Stocks-Savannah Cotton Fac
! tory - bid, 25 asked; Augusta Factory
| so bid SO asked; GraniteVille Factory. 145
| bid 151 asked; Langley Factory 104 bid
1O5A asked; Enterprise Factory common,
SO bid, SO asked; J. r. King Manufactur-
ing Company, 1Q bid, 1O5 asked; Sibley
! Manufacturing Company, 70 bid, rs asked;
Savannah Brewing Company, so bid IS
asked.
New York, Oct. 4.-Money on cal Twas
firm at 21a031a per cent, the last loan was
! offered at per cent, and closed at 2A@3
| per cent. Prime mercantile paper, 41ad5
! per cent. Sterling exchange weak. with
actual business in bankers bills at $4S41a
for demand, and at $4S215 for sixty days;
posted rates s4.S3Q$4,S4 and &.S5&@4 49,
| Commercial bills, S4.Sl@4s11a Silver certifi-
! Gates, 55Q561kc. Bar silver, 55Ac. Mexican
dollars, 43c. Government bonds were
! strong. State bonds were dull Railroad
| bonds were strong.
New York, Oct. 4.-The Evening Posts
London financial cablegram says: THE
! stock markets here were irregular to-day
and the close was under the best. Activity
! centered in Americans and West Austria
liam mines. The former opened strong and
.
| here is chiefly continental, but the public
is also increasing and is chiefly buying
| preferred stocks of re-organized lines. The
| close was rather duh. Canada PacificS
were exceptionally strong. The boom in
| West Australian mines is quite profess
sional at present, but there is a good deal
of money behind it. The demand for gold
has increased. Russia is buying again.
i The tendency of the money market here
! is slightly higher because of apprehen-
sions that New York will take more gold.
! The Paris bourse and Berlin markets were
steady"
New York, Oct, 4-There was little more
in to-day's market than running contest
between the bulls and bears in which the
| bulls were successful during the early part
! of the day, but in which the bears turned
| the tide later and put the opponents to
rout, wiping out all the gains of the ear
! lier trading. There was everything in the
| bulls favor in the early market, the live
! ly buying on Saturday having apparently
treasured foreign capital, so that prices
of American securities on the London eX-
| change were advanced before the opening
| mere. Prices of the international stocks
| opened about on a parity with the Lon
| don higher level
The mass of orders in the hands of com
mission houses and which were put into
| execution Immediately showed that the
| home public, as well as the foreigners, be-
! iieved that the market had turned again,
and that reaction had come to an end.
The sensational jump in Manhattan at the
opening of over points also stimulated
the rise, though the small volume of pur-
chases on which the stock was carried up
and the heavy offerings Immediately in
vited by the advance, quickly showed that
the jump was purely manipulated. The
pinched shorts having covered the price
quickly receded and transactions in the
stock proceeded on a normal basis, and
still a substantial advance on the preVa-
lent belief that a movement was develop
ing for the absorption of the property by
surface railroad interests
Consolidated gas was also on hand with
its regular sensation, and rose So points
on the opening sale. The railroad state
ments for the day. all of which showed a
continuance of the heavy increase or earn
ings, famed the flame of the bull enthu-
siasm.
The advance of the market under these
influences and under aggressive leadership,
extended from J. to 2 points. The higher
prices invited heavy realizing sales and the
bears added the pressure of short selling
under which the advances melted away in
most cases, the net losses being, however,
for the most part fractional Union Pacific
was notable exception, its loss extending
to ia. quite a number of the less active
stocks ESCAPED the latter liquidation and
retained net gainSWo point or over, but
the level Of the markets as a whole closed
decidedly lower. Sugar was an active feaa
ture all day and its later weakness was a
material factor in breaking the market.
The bond market showed decided ac-
tivity and prices held steady for the most
part against the late weakness in the
stock market Total sales were g. 10000.
Government bonds were strong, ana were
bid up * 70 Il for all issues. There were
sales of registered As of 1907 at 1l2ls 10
112A, and of the SIS coupon at lis.
The total sales of stocks to-day were
450,70O shares. including Atchison prefer
red, 6,72S; Chicago. Burlington and Quincy.
2S 200; Louisville and Nashville, $3.50;
Manhattan L, 1890; Missouri Pacific, 49,
10; Missouri Kansas and Texas preferred,
$3.50; New York Central. 9,7S5: Northern
Pacific preferred 22,S50; Reading, 7,O9S,
Rock Island II. l01; ST. Paul and Omaha,
6,675; Southern Railway, 1920: Southern
Railway preferred, $3.50; Union Pacific,
$3.50; American Tobacco, $3.50; Chicago
Gas, 2S.S5O; Pacific Mail, 6,S2), Sugar, 80
$50; Tennessee Coal and Iron, $3.50; West
ern Unicn, 7021; Chicago. Great Western,
1f150.