The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-11

ingS ana Trust Company, lOl bid 102 asked
Southern Bank of the State of
nah Bank and Trust Company, 50
bid, 101 asked; Chatham Real
Estate and Improvement Company, A, ga
bid, 5412 asked B. So bid. asked; Peo-
pies Savings and Loan Company, % bid,
SO asked.
Factory Bonds-Augusta Factory 6s, 10l
bid l02 asked Enterprise Factory IS, 100
bid, 101 asked; Eagle and Phenix Manu-
featuring Company, s per cent bonds, 40
bid, AZ asked; Slbley Manufacturing Com
pany 6s, 10l bid. 102 asked.
Factory Stocks--Savannah Cotton Fac
tory, - bid, 25 asked; Augusta Factory,
so bid, IS asked Graniteville Factory, 145
bid. Isl asked; Langley Factory, 10i bid,
iO5A asked; Enterprise Factory. common,
SO bid, So asked; J. r. King Manufactu
Company, 104 bid, los asked; Sibley Man
ufacturing Company, 70 bid, 76 asked; Sa-
vannah Brewing Company, bid. IS ask
ed
New York July 10.-Money on call nom
inally al lqlis per cent. Prime mercantile
paper, SQ4 per cent. Sterling exchange
steady, with actual business In bankers
bills at $4e7d4. S7l5 for demand and at 81 So
Q4.S6A for sixty days. Posted rates. $4.S612
@4S17 and s4.Ssd4SS1k. Commercial bills,
A.S5. Bar silver 60Ac. Mexican dollars,
47c. State bonds quiet Railroad bonds
were firm Government bonds were weak.
New York July 10-The weekly bank
statement shows the following changes:
Reserve, decrease, 1913, 500; loans, increase,
$1.05S000; specie, increase, IS, 800; legal ten
ders. increase, s642 600; deposits increase,
s2,69S,S00; circulation increase, 81, 700. The
bank now holds A,S61,S7O in excess of the
requirements of the % per cent rule.
New York July 10.-To-day's market
for stocks was devoid of interest. To-day
was a holiday in London, and the usual
~ L.
don was lacking. The whole temper of
the stock market, Furthermore, has taken
on waiting disposition. Transactions on
the exchange in the aggregate reached
barely half a hundred thousand shares
sold, and one-fourth of this amount was
Sugar This stock was erratic during the
day on conflicting rumors regarding the
tariff. but did not move over a very wide
range. 1t fuctuated above last nights
close during the whole session, at one
time going IL above the close with frac-
tional net gain. Only ten other stocks
were dealt in to the extent of a thousand
shares The Changers were most active.
next to Sugar, and enjoyed continued ben
ent on reports of good crop prospects.
New York Central was higher on account
of the persistence of the rumor that it's
leading interests were. about to secure con-
troll of the Lehigh Valley railroad. Pacific
Mail added a fraction to its price, owing
TO the continued belief in an additional
dividend to be declared. Chicago and
Great Western, Des Moines and Fort
Dodge and Keokuk and Des Moines pre-
ferred continued to improve under market
operations Of insiders, the latter stock ad-
vancing AZ points. st. Paul was sustained
by the first weeks statement of gross
earnings showing an increase of over
$ll,OO0. Minnesota Iron rose a point and
Rio Grande and Western preferred Ia.
The Rubber shares were heavy. The close
showed a majority of stocks small frac-
ton higher.
The stock market retained its usual mid
summer lethargy during the week. There
have been indications of strength several
days during the week but the inward
movement was feeble and not sustained
The commission house business. which
has indicated the growing interest in the
market by the outside up to last week, has
practically ceased. The buying by large
capital, which sustained the market for
so many weeks, is no longer in evidence
and Nhe conclusion of the dealers is OBJ
viously that it is prudent for the stock
market to wait for general conditions to
come up with it. The most attention in
Wall street is paid at present to the re-
ports of crop prospects and prices. The
harvesting of abundant crops at good
prices by the farming population are re-
garded as most vital to the sustaining of
prices at the advanced level The Grang-
er roads have led the advance throughout
and continue to show the greatest
strength and firmness. The passage of
the tariff bill through the Senate had been
looked forward to a favorable factor in
Wall street, but had been discounted
The strike of soft coal miners has had
its effect in checking the upward tendency
of prices. But there are not lacking ex-
pressions of confidence that the strike may
a xHaNy IN on, ,.,,se,
ing the deplorable conditions existing all
through the soft coal trade by improved
wages as well as by improved profits to
operators and transportation lines. The
week has passed without a shipment of
gold to Europe and the belief is general
that the outgoing movement of gold has
came to an end. Sterling exchange has,
however, shown a slowly hardening ten
dency as the week progressed even in
very dull market. The commencement of
grain exports promises a supply of ex-
change and there is a disposition to sell
long exchange for future use.
The low rate for call money has fallen
during the week from IA per cent to l
per cent. The net changes in leading
stocks for the week are small, but are
mostly lower. Some noteworthy gains are
shown by inactive stocks.
The bond market ruled fairly actige dur
ing the week and considerable strength
developed in the gilt-edged liens. The
dealings generally lacked feature, aside
from extreme irregularity to the indus
trial securities. which impaired tone to
the general market. Purchases for in
vestment account were discernible in
many Instances, and a better speculative
demand occurred for some of the low
grade mortgages. Some heaviness was
noted towards the close of the week in
the more active mortgages, but without
effect on the general trend.
The principal advances were: Brooklyn
Transit IS, ~ New York Central IS, reg
ulaT, 2s; Galveston, Houston and Hender-
son S. 3; Indiana, Illinois and Iowa frsts,
4; Rensselaer, and Saratoga firsts. 22s:
Iowa Central irsts, .; Mexican National
incomes y, "a; Susquehanna and Western
general, 81 Peoria, Decatur and Evans
VILE seconds, trust receipts, So; Wilkes
barre and Eastern firsts. "a. and st. Paul,
NJ. and NJ. Minnesota Union 6s. 2% per
cent.
The declines were: Central Georgia
Banking Company gold s., "a: Cleveland
and Pittsburg sinking funds, Is. ~. Ten
nessee Coal firsts. Tennessee division, 3
per cent.
Governments we're quiet and fairly well
held during the early dealings, subse-