The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-20

| West Point per cent certificates. 90
| bid, asked; Savannah Construction
| Company, 60 bid, 70 asked
| Gas Stocks-Savannah Gas Iight stock
| % bid, % asked: Electric Light and
| Power Company, 81 bid, 81 asked. ex-div.
Bank Stocks, Etc.-Citizens Bank. 10
bid, Ill asked; Chatham Bank "A bid. As
asked; Germania Bank 1881 bid, 109l5 ask
| ed; Merchants National Bang S7s, bid, SSl5
/ asked; National Bank of Savannah 126 bid
| l2S asked; Ogiethorpe Savings and Trust
! Company, 104 bid, los asked; Southern
| Bank of the State of Georgia, 157 bid 100
| asked; Savannah Bank and Trust Com
| pany, 1919 bid, 1025b asked; Chatham Real
| Estate and Improvement Company, A So
| bid IS asked; B. 81 bid, 5415 asked; Peo-
| pies Savings and Loan Company 9115 bid,
| 92Ib asked.
Factory Bonds-Augusta Factory IS. 1Ol
bid, 102 asked; Enterprise Factory IS. 100
! bid, 101 asked; Eagle and Phenix Manu-
| featuring Company, per cent. bonds. 40
| bid, AZ asked; Sibley Manufacturing Com
| pany 6s, 1Ol bid, 102 asked.
Factory Stocks-Savannah Cotton Fac
| tory, - bid, % asked; Augusta Factory,
| so bid SO asked; Graniteville Factory 145
| bid, Isl asked; Langley Factory, 104 bid
! l05A asked; Enterprise Factory common,
| IS bid, Sc asked; j. R. King Manufacturing
! Company, 104 bid, 105 asked; Sibley Man
ufacturing Company, 20 bid, rs asked; Sa-
vannah Brewing Company, - bid, So ask
New York June 19.-MoneyN on call was
| easy at 1d1A per cent. Prime mercantile
| paper, S@4 per cent Sterling exchange
firm, with actual business in bankers bills
at AS7AG4S7ls for demand and $4SOG4S sou
| for sixty days. Posted rates 81 S6ibI4 81
and 4SSd4SS1a Commercial bills. $4S5is.
Silver certificates, bar silver 6OAc. Mexi-
| can dollars, 4T9sc. Government bonds firm;
| state bonds duh; railroad bonds dun
| New York, June 19.--Weekly bank state
! ment shows: Reserve, increase, $3.50 AIS;
| loans, increase, $4,0S2, 100: specie, increase,
| SS2,4O0; legal tenders, increase 81 IS. 800:
! deposits, increase $7,417,700; circulation.
! decrease, $25S, 500. The banks now hold
| $4S $3.50, 900 in excess of the requirements of
| the % per cent. rule
New York, June 19.-To-day's market
| again reflected the constant watchfuness
| of large traders for a reaction. the days
| profit taking being on a very large scale.
! The changes are very small owing to the
| early buying movement, which carried
| prices of most stocks quite sharply above
| last nights close. But the reaction
| brought about by the realizing movement
| and by sympathy with the heaviness in
| sugar left most shares below last nights
| close. The trading was duh and showed a
! very marked diminution in the range of
| activity. The volume of the total dealings
was small, and one-thrd of the whole is
| credited to sugar. Much of the selling of
this stock was attributed to Washington
orders supposed to be on information of
| the sugar schedule of the tariff bill being
| in danger in the conference stage.
| Chicago Gas showed a sharp fractional
| decline from the best price, adding to the
heavy tone of the market. Nothern Paci-
fc preferred and Union Pacific were the
| most largely dealt in of the railroad
shares, and each sagged a point at the
! lowest with only a feeble rally. The sell
| ing of these stocks was attributed to for
| eign orders to realize, the recent foreign
| buying having been quite heavy. The
! Goulds were a weak spot in the market
| and showed a wide recession, but Western
| Union rallied to above last nights close.
| On the other hand, Lake Erie and Yves
! tern, preferred, and Minnesota Iron regis
| tered an advance Of two points each, and
| Edison Electric of Brooklyn a. Sugars
| extreme decline was 15s and the net loss
! 11s. The closing was firm and closing
| prices as a rule were above the lowest, but
| net losses were general throughout the
| list. The feature of the week has been
| the firm resistance of the market of the
efforts at reaction of professional specula-
| tors. On Tuesday and Wednesday there
| was continued heavy selling to realize,
| some of the largest operators on the floor
| being credited with a complete turn in
| their holdings. These traders based their
| action on the theory that reaction was
| overdue in the market, because the adj
| vance had been so steady and so long con-
! tinued, for a month practically without
| break. The manpulators for a decline
| had no ground in the general condition to
| offer as an argument, the general condi-
ton continuing much as it has been ever
! since the beginning therefore the market
| proved a signal failure and they all joined
| the long side on Thursday. The change
| in the market is shown by comparison in
| prices at close Saturday, May % and to-
| day. Advances are: New Jersey Central
| 1874 Sugar, 1924; Chicago Gas and Buring-
/ ton, fraction over points each Rock
! Island and Tennessee Coal, over points !;
| Northwestern, Delaware and Hudson, Mis-
souri, Pacific and Western Union, points
| or over, and st. Paul, Louisville Leather
| preferred, over 4 points each. The nuns
| Der of stocks showing less gains in
| creases, but with a few exceptions all
| prices are higher. Railroad earnings show
| improvements in that time, and the
/ finances of the companies Immediately
| concerned are in better condition, but
| their prices quoted do not by any means
| represent the immediate return in money
| hoped for from sharehoiding in the com
| panies They must be accepted rather a.
| the barometer Of expected and hoped
| for improvements In the business of the
country at large. II is certain that the
| business of the country at large has not
| increased in the last month in the same
/
| firm resistance of the price of stocks to
reaction and the readiness of buyers to
take them at the existing level Is a meas
ure of confidence felt that business is
| about to improve in proportion. Probably
| the unimpeded progress of the tariff bill
| on the final stage of its disposal has been
| the most encouraging 70 Wall street Of
/ any one factor. The Hawaiian treaty
caused momentary tremor to pass along
| the pocket nerve through the street, but
! the complacent attitude assumed towar Is
/ the matter by the powers of the world
| has quieted apprehension as TO Japan's po-
| sition. The latter part OF the week shows
/ some growth of apprehension over the
/ new impetus given the gold movement
| the hardening OF the exchange said 70 be
drawing OF exchange for tourists account
! and for July settlements of dividends and
| Interest payments on securities held
! abroad. But Wall street has taken note
Of the fact that the gold reserve in the
/ treasury has remained almost stationary
| at a little above land for two days a lit
tie below $1HOOOO0O ever since May 22
The amount Of specie held by the New
| York banks has increased since the date