The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-23
% BFoughtOn ST., w.
B. s. LEVY, Manager,

Estate and Improvement Company A. 50
bid Sc asked; 2, 5412 bid. 80 asked; Peo-
pies Savings ana Loan Company, 90 bid
"a asked, eX-div.
bid 1902 asked; Enterprise Factory 6s, 100
bid, 101 asked; Eagle and PheniX Manu-
featuring Company 6 per cent. bonds, 40
bid II asked; Sbley Manufacturing Com
pany 6s, 101 bid 102 asked.
Factory Stocks-Savannah Cotton Fac
tory, - bid, % asked Augusta Factory,
80 bid, SO asked; Graniteville Factory, 1i5
bid 151 asked; Langley Factory, 1914 bid,
1854 asked; Enterprise Factory, common,
SO bid, SO asked; ]. r. King Manufacture
ing Company, 104 bid, 115 asked; Sibley
Manufacturing Company, 20 bid, rs ask
ed; Savannah Brewing Company, - bid, So
asked
New York, Sept. %, p. m.-Money on
call was strong at 2Q4 per cent, the last
loan was at 2 per cent, closed offered at
per cent. Prime mercantile paper, 44412
per cent. Sterling exchange heavy with
actual business in bankers bills al $4.S4&
for demand, and at 81. S21ag4.S25s for sixty
days. Posted rates, $4.S31A@4.S4, and &.S51aD
1862. Commercial bills, $4.S115. Silver GER
tificates, 5S1AI59i@c. Bar silver, 58l2c. Mex
lean dollars. 4S12c. Government bonds firm.
State bonds were dun. Railroad bonds
were strong.
New York, Sept 22.-The Evening Posts
stock markets were generally dull to-day
in anticipation of rise in the bank rate
tomorrow Americans however rallied
sharply at the close on the news of the
withdrawal of gold from the Bank of Eng
land for shipment to New York and prices
closed strong and at the best. There were
more signs of English and continental
buying than since the upward movement
commenced. Foreign stocks were dull,
notably Spanish.
The Paris bourse was duh early on
Spanish affairs, but closed better The
Berlin market was steady.
New York, Sept. 22.-The result of to-
days transaction on the stock exchange
was the recovery of the greater part of
the losses sustained on yesterdays sharp
reaction, many stock closing tonight bet
ter than Monday. Near the latter part of
the day the market was extremely irreg-
ular and uncertain in tone, a number of
specialties continuing to show marked
weakness even after the railroad list had
recovered from its reactionary tendency.
But by the closing hour of trading, the
bears had practically abandoned their eff
forts to work a reaction, and the whole
market was tending strongly upward.
The manifest disposition of London OPP
orators and of commission house custom
ers to buy stocks at a decline here, afford
a support to the market that discouraged
the bears. The nervousness over the
hardening of the rates for money also
largely subsidized as the shifting of loans
developed more accurately the true level
of the money market.
The rates for call money continued to
run as high as 4 per cent, but as fast as
rates were marked up to this figure there
was an abundant supply offered at as low
as a 2 per cent. This was not regarded as
indicatin a stringent condition of the
market. The higher rate was not felt to
be justified by the condition of the market
and the failure of the exchange market to
reopen, with any marked weakness to the
per cent. asking rate, went to confirm the
same view. There was a marked reac-
ton al one time during the day. due to the
sharp profit king in Rock Island on the
announcement of the declaration of a ]
per cent. quarterly dividend. The recent
sharp rise IN Rock Island was accompanied
by some irresponsible rumors that the div
idend rate would be increased to per
cent Some of the sellers of the stock
professed disappointment that the rate was
made only per cent, and the bears used
this as material for a drive against the
market. But the strong recovery i'm Con-
solidated Gas and Brooklyn Union, the
former rising Il points, and the latter 62l,
tended 10 steady the market.
The reports of an engagement of gold
for import were vague and not definitely
confirmed until the close Of the market
but the rumors served to rally the whole
market strongly, and bring prices to the
best of the day at the close, the net gains
in all of the active stocks ranging from /
to 2 points. Foreign bankers are gener-
ally agreed that there is no profit in the
Importation of gold al the ruling rates
of exchange here and of god abroad and
the banking house, which has engaged the
gold for import, iutimates that It has been
abe to do 80, owing 70 some special adj
nj gap IVA a
that ii was made in the regular course OF
exchange business. The engagement is
not considered as indicating that fur
Their movement of gold viii Immediately
follow without further decline in the
exchange market
The total sales Of stocks to-day were
e24. 500 shares, including Atchison 1870,
Atchson preferred 1880 Chesapeake and
Ohio 7,9Cs, Burlington and quincy 1902.
Louisville and Nashville 1859. Manhat-
tan L s,46o Missouri Pacific 1890 Mis-
souri, Kansas and Texas preferred $3.50,