The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-04

responding period in any years since 1898.
For the fourth week In June the earnings
reported yesterday are in excess of the
corresponding week for any year in the
history of the road. St. Pauls net gain
on the month is ~ per cent, and Bur
lington's net loss is nearly equal, the for
mer stock having overtaken and crossed
the latter in price and closing the week
roads Cor MSy was also outsby COOL fhe
TD.-4AS ii l4i--> ~. ,4.v. .~4l4 -..- -~..-tAu4Os
of the country continue 10 show improve
ments. A feature of the week has been
The decline in sterling exchange to below
the point where gold exports are proita-
ble, even with the consideration amount
ing TO a premium which is still offered
fer gold in Europe. A special order Tor
$500 900 in gold which was received from
Europe on Thursday found no takers. 1t
is the general belief of exchange and spe-
Gle export houses that this marks the ter
mination of the outgoing gold movement
for this year The growth of bank clear
ings In June indicates an Increased ac-
tivity in business, though it is TO be noted
that the increase of banks outside New
ork is, according to the Financial Chron-
icie, only 1ia per cent. over last year
while for New York city the increase is
6 per cent, supposed 20 be largely due
to stock operations. Deposits in New York
clearing house banks are several million
in excess of the highest previous record
and currency continues to move to this
center. But the weeks expansion
in loans of these banks is So
1877 200 greater than the expansion
In the deposits for the same period.
This indicates a step towards the absorb
ton of the surplus funds In New York
banks, which have glutted the money
markets for many months. and reduces the
effect of deposits over loans, which last
week reached S75,4l3,000 by the amount
stated. Net changes for the week in the
stock market are mostly losses in the &C
tive shares, but they only reach as high
a point in a few shares. Tobacco is
off 3A Bay State Gas 3, and Chicago and
Eastern Illinois preferred, 2lA. On the
other hand, Sugar is up :, Rio Grande pre-
ferred, 81, do common ga, East River Gas
preferred 5, Chicago and Eastern illinois
s, Brooklyn Transit Long Island, Pitts
burg, Cincinnati and st. Louis preferred
and East River Gas 4 or over, and quite
a number of stocks, mostly inactive ones
a less amount.
The bond market was strong and active
during the week Operations for foreign
account were less notable The high
prices for prime mortgages are forcing
more generous purchases of low-priced
liens. The aggregate sales were 49, POI, 900.
The principal gains: Chicago, St. Louis
and Daducah LIST, st. Paul gold rs, Toledo,
Peoria and Western LIST and Peoples Gas
of Chicago lists, per cent. each, Chicago,
Cincinnati Cleveland and St. Louis con-
soils, Commercial. Gable As and Brooklyn
Transit 5s, 312 per cent, Burlington, Cedar
Rapids and Northern consols, Chicago and
Indiana Coal 5s, Chicago and Western
Indiana generals Colorado Midland lists,
Central Georgia LIST incomes, Baltimore
and Ohio SIS of 1925, Omaha and ST. Louis
lists and Houston and Texas Central deb
enture IS, 2 or over
Total sales of stocks to-day, 1884
shares, including Tobacco 81, 800; Sugar,
6,4OO; Burlington and Quincy, $500; Read
ing, 610O; st. Paul, II, 800