The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-26

bid. l01 asked Eagle and Phenix Manu-
featuring Company, s per cent. bonds, 40
bid. ~ asked; Sibley Manufacturing Com
pany IS. 1O1 bid. l02 asked.
Factory Stocks-Savannah Cotton Fac
tory, - bid. % asked; Augusta Factory, 80
bid. 50 asked; Graniteville Factory, 145 bid,
Isl asked; Langley Factory, 104 bid, 1O5h
asked; Enterprise Factory common, SO
bid. 96 asked: J. r. King Manufacturing
Company, 14 bid los asked; Sibley Manu-
featuring Company, 20 bid, rs asked: Sa-
vannah Brewing Company. - bid. IS ask
ed.
New York, May 25-Money on call was
easy at lAa1l5 per cent; the last loan
was a IL per cent, and closed offered
at 1AqlE per cent Prime mercantile
paper, 3l2d4. Sterling exchange weak,
with actual business in bankers bills,
$4.S7uAS7i4 for demand and S4.S55s for
sixty days. Posted rates, $4.S6l2G4H and
4SSq4.SSl2. Commercial bills, $4.S5la, Sill
yer certificates, 60lsd60SsC. Bar silver,
$3.50. Mexican dollars 479sc. Govern
ment bonds strong; state bonds were dun;
railroad bonds were firm.
New York, May 55.-Evening Posts Lon
don financial cable: "Stock markets here
were dead and inclined to be duh on the
expectations of complications before the
eastern matter is settled. The chief fea-
ture of the English dullness was rails, the
settlement disclosing, as was expected. a
large bull account and high contangoes,
ranging up to 10 per cent. There was a
further reduction in Kaffirs. Contangoes
on Americans were easy at 21a per cent.
To-days withdrawal of gold from the
bank was mainly for Russia and more is
to go. The operation is difficult to under
stand, as the best informed people do not
wholly connect it with currency plans
The Paris bourse was steady, after dull
ness, and the Berlin market was steady.
New York an
imation shown in the dealings on the
stock exchange to-day than for many
weeks past, and some buying by commits
sion house agents gave evidence of a
slight awakening of outside interests in
| the markets. Sales for the day reached
| an aggregate of over 100000 shares, and
were much better distributed through the
| list than has been the case in the recent
| trading. There was a display of consd-
| cradle strength, which carried most stocks
| at one time or another above last nights
close but sales for profit taking were quite
| heavy and carried prices down toward the
| close. The market is still in control of
| the professional traders and their tactics
| offset the elements of strength. New JeT-
| sey Central gave evidence of having reach
| ed point of resistance to further depre-
| citation and the shorts were driven to
| rather strenuous eXertions to cover. The
| l1an rate of the stock was bid up by man p
ulation in order to embarrass the shorts.
| The removal of the severe pressure on this
| stock for the time being was quite a re-
| lief to the market though there was a late
reaction in the price. Sugar was strong
| on the belief that the explanation offered
| of the sugar schedule of the tariff bill in
the Senate would help it's chance of pas
| sage. The dealings in the stock
were larger than for some time and
were second only to those of Chicago
Gas. The dealers in the latter stock were
| inclined to take an exceedingly conserva-
| tive view of the benefits assured by the
action of the Illinois Senate in passing the
| Gas Frontage and Consolidation bills, on
| reconsideration. The stock did advance
| sharply on the news of the passage, but
was carried down by heavy realizing SAFES.
! The tone of speculation generally showed
| considerable access of confidence various
causes contributing to this feeling. Yes
| terday's decision of the supreme court
| denying the right of the interstate COM
merce commission to fix railroad rates,
| still exercised a favorable influence on
| railroad values, not on account of the inn
mediate effects of the decision, but owing
to the belief that it insures the advocacy
| by the commission of a law to authorize
| railroad pooling. The weakening of the
| exchange market during the day was also
| regarded as an encouraging factor in the
general outlook and account was also taken
of the weeks statement of merchandise.
GApOilS from New 1OTk showing a IOIai
| of 1927 166, an increase of $3.50 400 over
| last week, and of s2,O31,7S2 over last year
| This large expansion of exports is looked
! to help offset the heavy imports in antici-
patton of the new tariff and to help adjust
! the exchange balance Statements OF
| railroad earnings were also good, espec-
tally that of the Southern railway showing
an increase of net earnings for April of
| S0S1G and Of gross earnings of SIS GA. The
| effect was to raise the price of the stock
| The third weeks statements of gross earn
! ings of St. Paul and Missouri Pacific caus-
ed a cheerful feeling among owners of rail-
| road stocks, the former showing an in
crease of $34, 346, and the latter of $4,000
Jersey Centrals range was SO points the
net gain being point The total sales Of
stocks for the day amounted to 202. 600
shares including American Sugar Refining
1900; Burlington, 1890; Chicago Gas So
! 500; Manhattan, $3.50; Rock Island $780, St
| Paul, 1920; Western Union Telegraph
| Company. ll,300. The bond market dis
| played some activity in the late trading
| and sympathzed in the decided rally which
| occurred in the stock speculation. Bust
ness was largely restricted to the promi-
| nent issues, in which the changes were not
essential" The aggregate sales were $780,
600. Governments gained slightly on pur-
chases Of $4,000.
Closing Stocks.
Atchison ........ 1880 & W.. 1874