The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-31


way 5s % bid, 80 asked; Georgia and
Alabama first preferred 5s, 102 bid, 1903
asked Georgia and Alabama first consols,
50 bid. 81 asked
Railroad Stocks-Augusta and Savan-
nah 942 bid, 951a asked: Georgia Common
172 bid 175 asked: Southwestern, 81 bid
9i15 asked; Atlanta and West Point stock.
1O4 bid. les asked; Atlanta and West
point per cent. certincaIes, 102 bid, 1884,
asked; Savannah Construction Company
90 bid, - asked.
Gas Stocks-Savannah Gas Light Stock
p bid, 221k asked; Electric Light and Pow
er Company 81 bid 60 asked
Bank Stocks, Etc.-Citizens Bank, 10915
bid, 11Ola asked; Chatham Bank, 40 bid, 46
asked Germania Bank. 100 bid, 10
asked Merchants National Bank, 9ll5 bid,
80 asked; National Bank of Savannah,
1876 bid f27 asked; Oglethorpe Savings and
Trust Company, 1914 bid, 1O5 asked; South
ern Bank of the State of Georgia, 153 bid,
1855 asked; Savannah Bank and Trust
Company, 101 bid,l02 asked Chatham Real
Estate and Improvement Company, A, 55i5
bid, 5615 asked; B, 5412 bid, So asked; Peo-
pies Savings and Loan Company, 81 bid,
Sc asked.
Factory Bonds-Augusta Factory IS, 10l
bid, 102 asked; Enterprise Factory 6s, 100
bid, 101 asked Eagle and Phenix Manu-"
featuring Company Z per cent bonds, 40
! bid, AZ asked; Sibley Manufacturing Com
pany Is, 101 bid, 102 asked.
Factory Stocks-Savannah Cotton Fac
tory, = bid, 10 asked; Augusta Factory.
so bid, SO asked; Graniteville Factory, 145
bid, ISL asked; Langley Factory, 104 bid,
1854 asked; Enterprise Factory, common,
SO bid SO asked; j. r. King Manufactur-
ing Company 1O4 bid 105 asked Sibley
Manufacturing Company, 70 bid, 76 asked;
Savannah Brewing Company, 80 bid, sS
asked.
New York, Oct SO.-Money on call was
nominally at 2per cent; prime mercantile
paper, Ss4641A per cent; sterling exchange
steady with actual business in bankers
bills, at 4.s5l4G4S5ss for demand and
81 S214a4. S2ss for sixty days; posted rates,
"a 1901. S314d4 lS6l6. Commercial bills, $4.S1
"a SIZE silver certificates, 5S12@60c; bar
silver, 5SAc; Mexican dollars, 45c; state
bonds dull; railroad bonds firm; govern
ment bonds firm.
New York, Oct 90.-The exports of spe-
Gle from the port of New York amount
ed to 1856 500 in gold and $67l 659 in silver.
Imports, gold, 99,S29; silver, $10,66S; dry
goods and general merchandise, Sc, i46, III.
New York, Oct. 30.-The Evening Posts
London financial cablegram: 1.-THE stock
markets were quiet, but firm, to-day.
Americans We're good and closed over the
parity on the belief that New York will
make things better on Monday. The mon
market is to repay the Bank of England
over 100000 next week. On the other
hand, money borrowed by the bank on
consols is due on Thursday, and it remains
then to discover the banks future policy
towards the market The rumors of some
millions of pounds of gold going out to In
dia are probably incorrect or much exag-
gerated."
New York, Oct. SO-There was little
activity and small variation in prices on
the Stock Exchange to-day, except in
few special cases. Consolidated Gas was
the conspicuous feature, with a break of
points to 1874. The stock fell several
points between sales on dealings in single
lots of a hundred shares. The last sale
was at a rally of points. Consolidated
Gas at 1874 shows a fall of 47% points from
the price on Sept. 16, on which day il sold
for A11a. Union Pacific was heavy
throughout, on rumors that the foreclos-
ure sale of the property might be en-
| joined. The stock was over point off
| at one time but rallied &c. Burlington
| alone, of the list, was traded in to the
extent of more than 10000 shares. 1t was
| strong, on favorable crop reports from
| along its lines.
! The total sales of all stocks were little
more than 10000 shares The strength
of the market generally was due to the
closing up of contracts for the. iuterven-
ing holidays, which virtually extended
over to next Wednesday,
| The substantial, increase in loans of
49, ,125, shown In to-day's bank state
ment, is the first increase shown since
the statement of Sept Is, The contraction
in loans from that date up to Oct % was
$I7, 63S 300, made necessary by the sharp
demand from the interior for money. AL
though there has been active movement
of currency from this center to st. Louis,
during the week, to move the cotton crop,
the net movement has been this way, and
that interior banks have more money than
is needed is shown in the item of depos-
it's which have increased s, S7400O. repre-
senting in part the surplus fund of in
terror banks.
The bidding for mercantile paper has
continued very active all week, interior
banks continuing TO offer funds in this de-
partment of the local money market. The
increase in loans in the bank statement
which was, in part, due to purchases of
mercantile paper, is probably due for the
most part, to the opera tons in the pend
ing Union Pacific foreclosure sale. The
Union Pacific sale was the overshadowing
influence in the stock market, which was
otherwise exceedingly narrow and entirely
professional Some confusion has seemed
TO exist in the minds of holders of Union
Pacific securities, at times, as to the ef-
feet of the developments at Washington
on their interests.
But the weeks net result shows that they
consider themselves substantially worse
off than they were last Saturday The
stock fell AZ on Monday on the govern
ment's announced intention to postpone
the foreclosure sale, 1t being feared that
the whole plan of reorganization was
threatened. The reorganization commit
tee announced that it would bid the full
amount of the governments claim on the
main line that allottments made under the
plan to the Kansas and Pacific security
holders would remain reserved for the re-
organization of the Kansas line and that
no change In the plan of reorganization
was involved in this.
This, coupled with the announcement of
the government that il would accept this
bid on the main line rallied the stock In
timations that the reorganization syn
dictate would be loser by the increased bid,
which had increased some $l3,000O00 over
that contemplated for the whole system
when the plan was made. seemed to cause
irritation and explanations were offered
that the increased outlay by the syndicate
was to be compensated by allotment of
first mortgage bonds and preferred stock
The syndicate, 1T Is announced, receives
par in the new four per cent bonds. and 80
per cent in the preferred stock money fur