The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-30

] OF the state OF Georgia, 100 bid, 159 askedy
| Savannah Bank and Trust Company, lOl
bid, 102 asked; Chatham Real Estate and
/ Improvement Company, A, SAP bid, ssh
| asked; z, SPA bid, IS asked; Peoples Saw
ings and Loan Company, 9112 bid. 9275
| asked.
Factory Bonds-Augusta Factory IS. 1O1
/ bid l02 asked; Enterprise Factory 6s 100
bid, lOl asked. Eagle and Phenix Manu-
| featuring Company, 6 per cent. bonds, 40
| bid AZ asked Sibley Manufacturing Com
| pany 6s. 10l bid, 102 asked.
FACTORY Stocks-Savannah Cotton Fac
tory, - bid 25 asked; Augusta Factory, 80
bid, SO asked; Graniteville Factory. las bid,
| 151 asked; Langley Factory, 104 bid, 1857
| asked; Enterprise Factory common, SO
bid. SO asked; J. R. King Manufacturing
| Company, l04 bid, 105 asked Sbley Manu-
| featuring Company, 20 bid. &c asked: Sa-
vannah Brewing Company. - bid, IS ask
ed
New York, May 29-Money on call easy
at 1AG11a per cent. Prime mercantile pa
per, Slaq4 per cent. Sterling exchange
duh and steady, with actual business in
bankers bills at $4.S7 for demand and a
%Sod4.S6 for sixty days. Posted rates,
&S6l2@4.S7, and $4.SSd4SSIa. Commercial
bills, A.S5q4S5i4. Bar silver, CO.'S. MeXi-
can dollars, 47ssc. State bonds were quiet
Railroad bonds were firm. Government
bonds were easier.
New York, May 29.-The weekly bank
! Reserve increase, 61715O; loans increase,
S255I 400; specie increase, 1888 700; legal ten
ders increase, $S00.600 deposits increase.
S96i8,6C0; circulation decrease, $76,SO0 The
banks now hold S46,606, 100 in excess of 1e-
quirements of the % per cent. rule.
New York, May 29.-Those traders who
availed themselves of an opportunity late
| ly t. cover short contracts for fear of
crush of those bent on a similar mission
to-day, were wise in their generation. The
rise in prices in the general list this week
| has been sufficient TO have invited extern
sive profits taking a. a week end in any
week for mont tbs past. But sales to take
| profits were a a minimum to-day, and
| exercised no marked effect on prices,
which held steady near the highest until
| the close of tradings. The shorts, on
! the contrary, showed a feeling of unrest
| over the indications Of strength in the
market and manifested their unwilling
| ness, under the circumstances, to carry
| over shore contracts until next Tuesday
| at which time trading is to be resumed on
| the Stock Exchange. Several special fac
| tors served to encourage the buying of
| stocks besides the increased confidence
! felt in the general outlook for business.
| Some of those who bought stocks gave
as their motive the tone of the speech de-
livered by Secretary of the Treasury Gage
| yesterday, especially his expression of
| confidence that the tariff bill would be
| disposed of at an early day, and his broad
! intimation that some measure of cur
rency reform would then be put forward
| by the administration. Some renewal of
| the buying for London account, which
| was feature of the earlier days of the
week, also added strength to the market.
The dealing were remarkably well dis
! tributed, the number of stocks whose
shares were sold being much larger than
| for some time The more noteworthy
gains at the high point were: Illinois Cen
trail, "a; Tobacco, IL; Lead, 13s; Canada
Southern, II, and Burlington, Pullman
and Reading first preferred point each
| There was some realizing in New Jersey
Central, but its net loss was only a.
| Cleveland, Cincinnati, Chicago and St
Louis continued heavy and lost ga, clos
ing at "a Lake Shore advanced to 1877
| bid. The market for stocks and bonds
has been notably firm and strong all the
week, though the dealings were a good
deal depressed at times The dullness
| came at times of heaviness in the mar
! ket, indicating the disposition of hold
| ers to wait for better prices. The rise
| in the majority of stocks was only in
| terrupted by the influence of special de-
| pressing causes from time to time, such
as the unexpected volume of the gold ship
ment early in the week, the break in the
Rubber shares on account of the retire
ment of President Evans, a feeling of dis
of the Baltimore and Ohio default on the
interest payments due June l on some Of
the company's bonds. These reactionary
influences proved inadequate to overcome
the encouraging factors a work, and the
result has been a bull market for the
week. The event to which Wall street
attributes the greater part of the i'm
proved tone of trading is the taking up
of the tariff bill in the Senate, the DEM
onstrated intention of all parties to in
terpose no factious opposition to its pass
age and the result oreshadowed by the
votes on committee amendments that no
time is to be lost In settling the whole
matter. More or less attention is attract
ed by various statistical estimates of the
present activity in general business, ac-
companied by the argument that the vol
ume of business at present is equal to
that in some of the most prosperous years
In the country's business but at such ex-
tremely low prices as not to be evident
in estimates of transactions by valuation.
The broadening of business activity is
felt nevertheless, to indicate an improv-
ing tendency in business conditions The
bond market displayed a fair degree of
animation during the week with a marked
tendency towards higher plane apparent.
Purchases for continental account were
in considerable volume and impaired de-
cided strength to the international liens.
Some heaviness developed in some of the
inactive securities in which special consid-
erations operated. The general market
pursued an almost uninterrupted course
upward and closed at the top price for the
leading mortgages. The transactions en-
braced an extensive variety of bonds with
the giltedge properties generally recording
substantial improvements The more con-
hdent speculative temper influenced re-
newed investment buying which included
some round amounts for middle grade is
sues. Government bonds ruled firm
throughout on moderate dealings The
total sale Of stocks to-day were 1lO.7S5
shares including the following: Chicago
Gas. 1880; National Lead, $500; Rock Is
land, $500; st. Paul, A,S00; Jersey Central,
$500.
Closing Stocks.
Atchison ....... 1913 ". Y. g. N. f. 81
Adams Elk ......i49 Ont e. West 90. 14k
Alton, T. ii. zee. 90 oregon Nav ..... u
ANN. Express ..l13h o. s. l.. & y. ". Is
Bait. & Ohio Gee. 81 Pacific Mail zee. q
Can. Pacific zee. 57is p. Dec. g. Ev. o. z
Can. Southern. 47it Pittsburg ........ 1872
Central pac. zee. 8ik Pullman Palace 1854
Che. q Ohio ... 1914 Reading .......... 1915