The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-11-13
THE MORNING NEWS: SUNDAY NOVEMBER - 1898

paper, Sd4 per cent. Sterling exchange
easier, with actual business in bankers
bills. at S4.S514@4S5i5 for demand and Si.S2
64S24 for sixty days; posted rates. $4.Ss@
1855; commercial bills, S4.Slq4.Sll5. Silver
certificates, 60l4Q6l12c; bar silver. e05se;
Mexican dollars, 47Ac. Government bonds
We're steady; state bonds were inactive;
railroad bonds were strong.
New York. Nov. 12.-The weekly bank
statement shows the following changes:
Surplus reserve, decrease $4,0ll 250; loans,
increased S9.022 800; specie. decreased 81, 022,-
500; legal tenders, decreased, 81, Ol0 800, de-
posts. increased 81, 9l2, 600; circulation, in
creased $155, 800. The banks now hold $i5,-
OH, 800 in excess of the requirements Of the \
. per cent. rule
New York, Nov. 1.-THE process of di-
gestion. of railroad and corporate securt-
ties was continued on an enormous scale
a. to-day's short session of the Stock Ex
change The public were in the market
as buyers again at the opening and heavy
orders placed with commission houses
were executed throughout an extended list
At the same time recent buyers, who saw
an inviting and secure profit at the pres
ent advance level of prices were sellers.
The result was a very active and broad
market that constant exchange of securi-
ties going on in the first hour resulting in
cept in a few cases. With the completion
of buying orders the realizing offerings
were in a way to exceed the demand in
the second hour, and prices showed a sag
ging tendency But the violent advance in
sugar at 1888 or almost points net caus-
ed a sympathetic hardening in prices
turned the traders to the bun side and
induced the shorts to cover hastily. The
result was a strong Close Notwithstanding
ha ~ Of .oxrap lint In e1fg p
and net gains reaching a point or over in
many cases. The important movement in
the Atchison securities was continued and
gave tone to the whole market
The principal activity in the movement
showed a tendency to shift from the pre-
terred 10 the common stock, which adj
vanced 13s on the day. The preferred stock
and the bonds continued in large demand.
the former closing at a net advance of
IA. Other properties in which the leader
in this movement is Interested was also
notably strong including Peoples Cas-
Rock Island and Brooklyn transit, but the
Federal Steel stocks showed a hating
tendency.
The strength of Louisville and Southern
preferred was due to the excellent traffic
situations of the two roads for the first
week in November.
The bank statement which was unfa-
vorable was disregarded.
The business in bonds on the stock eX-
change during the week, which was only
four full days and to-day's short day, ex-
ceeds all previous full weeks records, with
total sales of a par value approximating
1914, 100000 against the previous high record
of less than $25, 100000 On Thursday the
sales of bonds exceeded In par value &c.
100000 against the best previous days bus
mess of $I,500,000, and on Friday the days
business nearly approached THURSDAYS re-
cord. In the total number of shares of
stocks dealt in the weeks record has been
many times exceeded, but In the number
of different issues in which one hundred
shares lots have been dealt ill., the weeks
record has never been surpassed thus in
dicating the breadth and uniform interest
in the market. The weeks unprecedented
business in bonds has resulted in higher
prices all around, the middle and lower
grade issues showing the most pronounced
effects.
United States new As coupon have ad-
vanced q; do registered p; the old As reg
istered 3s and the 3's coupon, the old As
coupon and the SIS Is in the Did price.
The total sales of stocks to-day were
1861, 500 shares including IS, 800 Atchison; d.
800 do preferred; 5000 Chicago, Burlington
and Quincy; $3.50 Louisville and Nashville;
1887 Northern Pacific; 9752 Rock Island;
20,150 ST. Paul; 1881 Union Pacific PREFER
ed; 6,540 Tobacco; Is, ZOO Bay State Gas; s.
2l5 Federal Steel; 1873 do preferred; 9S,O4O
Sugar.