The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-11


nah, 30 bid, SO asked; Georgia common
155 bid, 100 asked; Southwestern 911L bid
S2l2 asked; Atlanta and West Point rail,
road stock, IS bid so asked: Atlanta and
west Point o per cent. certificates. %
bid 100 asked; Savannah Construction
Company, 6S bid, 40 asked ex-div.
Gas Stocks-Savannah Gas Iirht stool
2G5 bid, 2114 asked; Electric Light and
Power Company, - bid, 81 asked.
Bank Stocks, Etc.-Citizens Bank 100
bid, - asked; Chatham Bank, 44st bid. 45IS
asked; Germania Bank, los bid, 100 asked:
Merchants National Bank, S6lS
bid. s715 asked; National Bank
| of Savannah, 124Ia bid, 1851
asked; Oglethorpe Savings and Trust
Co.. 1913 bid, lO5 asked Southern Bank
of the State of Georgia, 157 bid. 159 asked;
| Savannah Bank ana Trust Company, 1Ol
bid, 10l34 asked; Chatham Real Estate and
Improvement Company, A. "a bid, 54Ib
asked; p, 52A bid, So asked; Peoples Saw
ings and Loan Company, 81 bid, 90 asked
Factory Bonds-Augusta Factory Is. 1O1
bid, 1O2 asked; Enterprise Factory IS, 100
bid, 1Ol asked; Eagle and Phenix Manu-
featuring Company, 6 per cent bonds, 40
bid, AZ asked; Sibley Manufacturing Com
pany 6s, 101 bid 102 asked
FACTORY Stocks-Savannah Cotton Fac
tory, - bid, Is asked; Augusta Factory, so
bid, SO asked; Graniteville Factory, 145 bid,
Isl asked; Langley Factory 1O4 bid 1851,
|
bid, 96 asked; ]. r. King Manufacturing
Company, 104 bid, 100 asked; Sibley Manu-
featuring Company. 20 bid 76 asked; Sa-
vannah Brewing Company, - bid. IS ask
ed
New York. May 1O.-Money on call was
easy at 1AQ11a per cent; the last loan was
~ per cent, and closed at 1Aa11a per cent
Prime mercantile paper, 315d4 per cent.
sterling exchange firm, with actual bust
ness In bankers bills, at A.&AG4 .S715 for
demand, and at 81 $500 8615 for sixty
days. Posted rates, 81. S7Cd4 .S715, demand,
| 81 1874 "A. SO. Commercial bills, $4S5h
Silver certificates, 60Ad60ssc. Bar silver,
6OAc. Mexican dollars 474c. Government
| bonds firm. State bonds dull. Railroad
bonds firm.
New York, May 10.-The Evening Posts
| London financial cablegram says THE
| feature in the stock market here to-day
was the sharp bear scramble in Kaffirs,
which have been rushed up 20 and % per
cent The settlement disclosed a large
bear position. This partly accounts for the
| rise, but the reports circulated as to the
| German policy in Africa at the moment
| being actively favorable to this country,
have excellent reason to believe every
foundation in fact. Now that the bear
position in Kaffirs has been largely re-
duced, however, it looks as though the
rise were too fast to last; still, I must re-
port a considerable public interest and il
now remains to be seen whether the pub
| lie is going to buy again or whether they
| have large holdings to unload The other
! markets were all buoyant on the political
news. Consols were only &c below the
| highest point ever touched. Foreigners
| were generally good, but the fairness in
| Spanish securities was a prominent ex-
ception. Austria is the only buyer of
gold for the moment. The Paris bourse
was strong on the buying of Kaffirs and
the Berlin market was firm.
New York, May 10.-The market for
stocks to-day showed signs of decided
strength throughout, though the dealings
continued dull and prices advanced very
cautiously, in spite of improved prices for
Americans in London. This was supple
mented by some small buying for London
account in this market later in the day.
The excellent crop reports from the north
west and improved earnings, both those
reported and those rumored. for the i'm
mediate future, gave an impetus to the
buying of railroad properties in that re-
gion. The Changers and Northern Pacific
received the most notable benefit from
this, st. Paul and Burlington especially
being largely dealt in. Omaha Jagged in
the Improvement and showed some cOntn-
nance of heaviness, growing out of disap-
pontment that no further dividend will be
declared this year. In spite of the strength
of prices. the market continued narrow
and professional, and showed no signs
whatever of outside interest. The ex-
change situation and the resulting or ac-
companying gold movement continue to
mystify dealers in stocks. and are an ele-
ment in curtailing speculation. Further
shipments of gold are confidently predict
ed this week. with demand sterling ex-
change ranging from A.S7Ad4.S7lA. As
an evidence that the gold shipments are
certainly the result of the obliteration of
the tremendous trade balance In our favor
heretofore established during the fiscal
year, the large figures of last weeks inn
ports at New York, exceeding $4,000 900,
are pointed to as conclusive by those who
seek to deprecate the idea that any spe-
cla demand for gold abroad Is responsible
for the outgo. But exports Of gold at
prevailing rates Of exchange leave unex-
planned the face that on the Saturday pre-
vious to the first gold shipment demand
sterling ruled at A.S8 to 81 1914, after hav-
ing been at "a. SSi5 and upwards on the
previous Monday. and $.S1aG4.S7af the
week preceding that. without inducing
shipments Of gold. In fact, the exchange
houses had determined that there was no
adequate profit for them In gold shipments
under a rate Of A.SSA for demand ster-
ling.
The fact remains that further shipments
are looked for. and that fact has a senu-
mental restraint on the buying Of stocks.
to their stock of ammunition from the
supreme court decision affirming the valid
ity of the Berliner telephone patent.
which. It Is alleged forcshadows oppos-
ton from the Bell Telephone Company In
the telegraph field The stock, led the list
IN number OF shares sold. fuetuating ir-
regularly. and closed unchanged. Sugar
was weak az times. but recovered the de-
cline. Consolidated Gas fell off ~
on profit taking. but recovered. The
Coalers showed sharp fractional gains.
Covering by shorts forced Tobacco up ?.
and the scrip ! v, and the same cause yield
ed Leather preferred a net gain Of 1 per
cent. The market closed quiet but firm.
The total sales Of stocks for the day
amounted TO .2Si shares, including: To-
bacco. O. 200. Sugar. 1890: Burlington. TO-
400; Chicago Gas Sf00 Northern Pacific
preferred. 600; Reading. 1000; 81. Paul
1870; Union Pacific. $500: Western Union,
1850. Trading in bonds was attended
with considerable animation. but prices OF
the leading issues ranged narrowly. Some
decided changes were noted either way IN
the inactive low grade mortgages. The
aggregate sales were Si.Si2OO0. Govern
n1rutg were active. with the demand for