The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-02
THE MORNING NEWS THURSDAY, SEPTEMBER ?, 1897


nah. % bid, 90 asked; Georgia common,
16j bid, ldS asked; Southwestern. 9il4 bid.
s5A asked; Atlanta and West Point r. r.
stock, l02 bid, l03 asked: Atlanta and West
Point per cent. certificates, 1902 bid, 10S
asked; Savannah Construction Company,
65 bid, 6S asked.
Gas Stocks-Savannah Gas Light stock.
q bid, % asked; Electric Light and Power
Company. So bid 60 asked.
Bank Stocks, Etc.-Citizens Bank. 1921
bid, asked: Chatham Bank. 421z bid
49, asked; Germania Bank. 100 bid, 10
asked; Merchants National Bank S5l2 bid,
S71s asked; National Bank of Savannah,
125 bid, 126 asked; Oglethorpe Savings and
Trust Company, 1903 bid, 104 asked; South
ern Bank of the State of Georgia, 1872 bid,
1855 asked; Savannah Bank and Trust
Company, 100 bid, - asked; Chatham Real
Estate and Improvement Company, A, So
bid, Sc asked; B, 54l4 bid, 54$4 asked; Peo-
pies Savings and Loan Company, 80 bid,
asked.
Factory Bonds-Augusta Factory IS, 10l
bid, 1O2 asked; Enterprise Factory 6s. 100
bid 1Ol asked; Eagle and Phenix Manu-
featuring Company per cent. bonds,
40 bid, ~ asked; Sibey Manufacturing
Company IS, 101 bid. 102 asked.
Factory Stocks-Savannah Cotton Fac
tory. - bid, % asked; Augusta Factory,
so bid. SO asked; Graniteville Factory, las
bid, 15l asked; Langley Factory, l04 bid.
v,
SO bid, s. asked; ]. r. King Manufacture
ing Company. 1O4 bid 1O5 asked Sibley
Manufacturing Company, 20 bid, rs ask
ed; Savannah Brewing Company, - bid, IS
asked.
New York, Sept Money on call was
easy at 1Q112 per cent; the last loan was
at IA per cent, and closed at 1Ad1h per
cent. Prime mercantile paper, 919Q4l9 per
cent Sterling exchange firm, with actual
business in bankers bills al s4.S524 for de-
mand and $4S31z64sS34 for go days; posted
rates, &.&l2q4S51s and &.S61a04.S7. Com
mercial bills, A.S2Ad4S21a. Silver certif-
Gates, sic; bar silver 5lAc; Mexican dol
lars, Ale. Government bonds were strong;
state bonds were dull; railroad bonds were
easier
New York. Sept 1.-The Evening Posts
London financial cahlegram says: Very
bad weather to-day dampened all the
stock markets. The Indian government
has stopped the sale of council drafts for
ten weeks account, the state of their bal
ances in India. This means a higher eX-
change rate, with possible gold exports
when exchange touches Is pence. These
two points may cause a rise in the bank
rate tomorrow, but it will not express a
strong opinion on this. Until the gold
Withdrawals were known the market had
anticipated rise in the bank rate. Now it
is an even chance, but l should say a rise
of 4 per cent would have no bad effect
on the markets. and a rise of per cent
very little effect. Americans were good
during the day. but closed easier. with
nothing doing. The Paris bourse was dull
much of the day, but closed better No
difficulties so far have appeared in the set
tlement. The Berlin market was quiet
New York, Sept. 1.-The indications
from to-day's market were that prices
generally would have suffered a material
reaction had it not been for the effect of
the sensational advances shown by indlv.d-
ual stocks. Buyers were evidently pos
sessed by furrow of speculation and the
difficulty of moving the prices of most of
the leading railroad shares led to the Sc
curities being comparatively neglected.
Stocks concerning which some favorable
prospect as reported, but without definite
details and not backed by activity. were
chosen as the favorite in the speculation.
The sensation of the day was the jump
ing of the price of Omaha, the stick touch
ing the 21a in the final transaction. The
stock was not exempt from depression
which weighed on the Changers and, in
fact, on most of the railway list during
the early part of the day and 1t sold down
half from last nights close. BY l o'clock
it had recovered the loss and gained over
two points additional. But i'm little more
than an hour of the latter part of the day
the price mounted seven points, and was
in the full tide of the advance when deal
inSs ceased The trading was attended
by great excitement. and the pauses in
the advance were only momentary. The
rise was due to a belief that the stock will
shortly be placed on a regular dividing
basis, the size OF the proposed dividend for
the subject of the excited speculation.
Northwestern. which is in the relation
of parent property to Omaha, improved in
sympathy, but reacted partially. while
Omaha was still strongly advancing. Su-
gar also continued TO be an exceeding cen
ter of speculation during the morning
and advanced three points on rumors of a
distribution of surplus and of advantages
to accrue from exclusion of Dutch refined
sugars. Tobacco opened nearly points
higher, but this was also the highest of
the day. The two stocks huctuated in
very erratic manner all day, but closed
with a net gain of only Is for Sugar and
Is for Tobacco. Missouri Pacific touched
40 in the opening transactions, but fell
off during the day, on realizing, to below
last nights close.
The Coalers made some display of
strength during the day, but they sue
cumbed to depression later. Rock Island
also advanced at one time over a point
above the lowest. as did Louisville and
Nashville but the latter declined below
yesterdays price and the former saved
only fractional net gain With these eX-
ceptions the railroad list was almost Who'll
~ given over to depression.
ne tOtdi safes OF STOCKS tO-udy were
550,742 shares. including Atchison prefer
red, 1854; Chesapeake and Ohio, 22,13):
Chicago, Burlington and Quincy, 1880;
Louisville and Nashville, 16731; Manhat-
TAM 1910; Missouri Pacific, 1850; Missouri,
Kansas and Texas preferred, $3.50; North
ern Pacific preferred, $500; Chicago North
western. 7470 Reading. 8,310; Rock Island,
20125; Omaha, 2725O; Southern railway,
$500; do preferred, $3.50; Wabash prefer
red, 1850; American Cotton Oil 1850;
American Spirits 1885; American Tobacco.
40 49S; Bay State Gas, $500; Chicago Gas,
II ,270; General Electric. 5000; Lead, II, go;
Pacific Mail. 1920; Sugar 32170; do pre-
ferred, $3.50; Tennessee Coal and
Iron. 1880; United States Leather, $3.50;
do preferred 10000: Western Union, 1880;
Chicago and Great Western, 1850.
The bond market showed some falling
off in activity the total of bonds sold
amounting to about $3,30O,OOO. Prices were
generally higher United States new As.
registered, sold al 126ls, the highest record
experienced. The fives coupons, sold at
1879 to IA Total sales, $4,000.
New York Closing Stocks