The morning news., 1897-08-29

| o. asked; Atlanta and West Point r. r.
| stock, 102 bid, 103 asked; Atlanta and West
| Point per cent. certificates, l02 bid, l03
| asked; Savannah Construction Company,
| 90 bid 6S asked.
Gas Stocks-Savannah Gas Light stock J.
| p bid, % asked; Electric Light and Powf r
| Company, 50 bid, 60 asked.
| Bank Stocks, Etc.-Citzens Bank, Il 81
! bid, asked; Chatham Bank. 42I5 Did
| 43l2 asked Germania Bank, 109 bid, 1l0
! asked; Merchants National Bank, S5X bid
| S7ls asked; National Bank of SaVa nnah
| 125 bid l26 asked; OSlethorpe Saving S and
| Trust Company. 103 bid, 1O4 asked; South
ern Bank of the STATE of Georgia, 152 bid.
| 155 asked Savannah Bank an d Trust
| Company 100 bid, asked Chatham Real
| Estate and Improvement Company, A, SO
bid, IS asked; B, 54l4 bid, 54s4 asked: Peo-
| pies Savings and Loan Company, 92 bid.
| - asked.
| Factory Bonds-A1Igusta Factory IS, 1OH
/ bid, 102 asked; Ente rprise Factory 6s 100
| bid, 10l asked; Eagle and Phenix Manu-
| featuring Company per cent. bonds.
| i9 bid. y asked; Sibley Manufacturing
| Company 6s, 1O1 bid, 102 asked
| Factory Stocks-Sav3lnnah Cotton Fac
| tory, - bid. % asked: Augusta Factory.
| so bid So asked; Gran lteVile Factory, 145
| bid l5l asked; Langley Factory, 1O4 bid
! 1854 asked; Enterpris Factory, common,
~ bid, 20 asked; j. King Manufacture
| ing Company, l0i bi d. 1O5 asked; Sibley
/ Manufacturing Conn ANY, 20 bid, 76 ask
/ ed; Savannah Brewin Company, - bid, IS
/ asked.
| New York, Aug. 2S Money on call was
nominally at l@l12 er cent Prime mer-
7 camille paper, 3d4l2 per cent. Sterling CX-
| change was easy, W 18th actual business in
! bankers bills at 81 4.S5la for demand. and
| at $751; A04S312 fOI' sixty days; posted
| rates, a.alsQ4S5l5 and A.S61Aa4S7. Com
| mercial bills, $.S9aAS21@. Bar silver. SIC
! Mexican dollars Ale. State bonds were
] ST
| ment bonds were steady.
New York, Aug. 2S.-The weekly hank
/ statement shows the following changes:
| Surplus reserve, decrease, $235 $50; los ms,
| increase, $2561, POS; specie. decrease, $557,-
/ 500 legal tender, increase, 1881, 400; deposits
| increase, $685. circulation. increase,
/ $l66, 200. The banks now holn $39, ,5l7.700 in
| excess of the requirements of the % per
| cent. rule.
| New York. Aug. 28-There was a re-
| markabie show of strength throughout the
! short session to-day, practically the whole
/ list tending steadily upward, with scarcely
| halt. There was profit taking at in
| tervals during the morning. but the sales
| to realize were absorbed at a gulp with
| scarcely an impression, and the buying re-
| sumed, and kept up steadily until the
| close Sharp advances in the price of
| American securities in London gave the i'm
| petus TO prices at the opening. Arbitrage
! brokers also bought some of the interna-
] tonal stocks. The strength of those af-
/ fected by decline i'm wheat was again
| strikngly manifested to-day and the crop
| damage scare of last week was displaced
| by renewed confidence in the yield of
/ wheat and the safety of corn.
! The grangers were largely dealt in on
| the strength of this factor, but they moved
l over a somewhat restricted range. Omaha
! was the center of interest in the whole
| market, rising by leaps and bounds to MS,
( and closing only Is under that, with a net
| gain of points. The buying was ian ex-
| ecutiOn of large orders. Wabash prefer
| red gained a point and Missouri Pacific
! and Kansas and Texas preferred q each.
! Illinois Steel jumped points and other
| iron and steel stocks were firmly held in
| the favorable outlook in that industry. The
| industrial stocks, otherwise, were some
| what neglected. The Coalers, also. were
! not conspicuous and lacked strength
! The week in the market has seen the al
/ most total abatement of the crop damage
4 scare, which eXerted pressure on prices,
all last week. Even the publication of the
4 governments weekly crop estimates on
4 Wednesday with it's unfavorable views of
II the condition of the corn crop, and the
4 yielding of spring wheat, only affected a
II temporary reaction and that not of large
n proportions. Otherwise the market has
II tended steadily upward all the week. The
4 total average decline of the previous week
X was obliterated on Monday and the weeks
a
4 of the movement. A detailed analysis of
4 some of the railroad reports showed that
I increased earnings were due as much TO
! west bound general merchandise as to east
bound grain traffic This increase in gen.
era.l freight business and the reported
growth of telegraph business were made
effective use of as reliable indications of
1 the expansion of general business in the
I country.
The sentimental effect of dollar wheat
| was no small factor in effecting the re-
| sumption of the upward movement In the
| stock market, even with the doubt as TO
| the, safety of the crop still unsettled. No
serious doubt exists that there will be
| a good crop. The prosperous year thus
! assured the farmers will be the basis for
Improvement, from first producers up
ward.
| A feature OF he week has been the re-
! duced volume of transactions Thus the
reaction in the middle of the week brought
out no large offerings to liquidate. Al the
same time IL is evident that the very
heavy orders TO realize are placed at
certain level above the market. In the
! prominent speculative market. which
! checks any advance above a certain point.
! on the other hand, there is evidence of
heavy buying orders. some Of them on a.
| increasing scale, downward. which are a
strong buttress to the market below ne
existing .evel and which demonstrates he
| faith Of large operators in the cont nu-
! ance Of the Improvement. This condi ton
! gives remarkably firm and steady tone
! TO the market. The fact that the m oney
market in New York has become easier
during the week, is hard to eXpia In in
view Of the continued increase in business
activity all over the country. 'fhe fail
ure of the money market to harien is
attributed to the fact that the heavy re-
! trenchment and enormous liquidation
which has been going on for m .onths in ev-
| cry department Of business, have left large
| surplus funds available, at interior points
as well as in New York The plethora
OF money Is the cause or deferring the
! gold import movement. sgles for money
/ ruling higher IN the Lopd On market than
/ mere.
Net gains for the wecE, oqua, or exceed
I . points in q very large number OF shares
/ Rock Island leads the Grangers with an
advance OF 81, Burlington 33s Omaha
"a. Chesapeake and Ohio, Baltimore and
Ohio Great Northern preferred, Lake
Shore. Manhattan. National Starch pre-