The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-03-06

Augusta second mortgage Is, If5 bid, lis
asked; Georgia Southern and Florida new
Os, 1908 bid, .l0lla asked: South Georgia and
Florida first mortgage rs, 1924 bid, 1885,
asked; South Georgia and Florida second
mortgage Is, l0S bid, 505 asked; Ocean
steamship per cent. bends, 1926, 1864 hid,
le6A asked; City and Suburban Railroad
hrst mortgage per cent. bonds, 81 bid, -
asked; Alabama Midland per cent. in
dorsed, Sc bid. 80 asked; Brunswick and
Western As, 70 bid. 77lA asked; South
Sound Railway IS, bid, Is asked;
Georgia and Alabama first preferred IS,
4OS bid, 104 asked; Georgia and Alabama
cons. 5s, IS bid, SO asked; Eatonton
Branch, 81 bid. 1914 asked; Central of
Georgia, Middle Georgia and Atlantic Di-
vision 5s, S012 bid, S11a asked
railroad Stocks-Augusta and Savannah,
"a DID, 30 asked; Georgia, common. 10 bid,
lS0 asked; Southwestern, 93lk bid, 81
asked; Atlanta and West Point stock, 1O2
bid, lO4 asked; Atlanta and West Point
per cent. certificates, 1O2 bid 1O4 asked;
savannah Construction Company, - bid,
Is asked
Gas Stocks-savannah Gas Light stock.
Y bid, q asked; Electric Light and Power
Company, rs bid, n asked.
Bank Stocks, Etc.-Citizens Bank, 1O9%
pd' lO14 asked; Chatham Bank,
lS1s bid. 49 asked; Germania Bank, los
bid lO9 asked; National Bank of Savan-
nah, 125 bid, 126 asked; Merchants National
Bank, 81 bid, S7lz asked; Oglethorpe Saw
ings and Trust Company los bid, los
asked Southern Bank of the State of
Georgia, bid, 1888 asked Sa-
vannah Bank and Trust Company, 1902
bid 1021a asked; Chatham Real Estate and
Improvement Company, A, So bid. Sc
asked; B. 5ila bid, So asked; Peoples Saw
ings and Loan Company, 95 bid, 81 asked.
Factory Bonds-Augusta Factory, 50
bid, "a asked; Graniteville Factory, 145 bid,
$50 asked; Eagle and Phoenix Manu-
featuring Company, 3 per cent. bonds, -
bid, 40 asked; Sibley Manufacturing Com
pany IS. 101 bid, 102 asked.
Factory Stocks-Augusta Factory, 50
bid, So asked: Graniteville Factory, las bid.
l5l asked; Langley Factory, 104 bid, 1854
| asked; Enterprise Factory, common. 90
bid, 96 asked; J. r. King Manufacturing
Company, 104 bid, 105 asked; Sibley Manu-
featuring Company, 20 bid, rs asked; Sa-
vannah Brewing Company IS bid, 81 ask
ed
New York, March 5.-Money on call was
steady at 2 per cent; the last loan was
at 2 per cent; prime mercantile paper, Al
AZ per cent. Sterling exchange dull ana
steady, with actual business in bankers
bills at S4S41s for demand and at $4.S11kQ
4S1% for sixty days; posted rates, $4.SS ana
! $4851b; commercial bills, $4S0A. Silver
certificates, 541sc; bar silver, 54ssc; Next
can dollars, 44szc. Government bonds were
weak; state bonds were dull; railroad
bonds were weak.
New York, March 5.-The weekly bank
statement shows the following changes:
| Surplus reserve, decrease, 81 :35, S25; loans.
| decrease, $1S, 622, 900; specie, increase, $780,,
| co., legal tenders decreased IS, S7S, 700; de-
posits, decrease, $23, 1913, 90O circulation, In
| crease, $4,000. The banks now hold $780,,
| 823, 800 in excess of the requirements OF
athe % per cent. rule.
New York March 5.-The Evening Posts
London financial cablegram says: "The
stock markets here were quiet and dull
to-day, the only signs of life being in in
dustrial shares, the activity m which were
| stimulated by fresh issues of concerns
such as Lipton's Tea Company, with a
capital of e, 100000. There is quite boom
in such company promotions, which are
being overdone, however Americans were
trif1e above the level, but were fiat and
disheartened. Grand Trunk was also low
| er on cables about the rate war. Gold is
| in strong demand for New York at IT'S
924d677s 10d, but gold arrived to-day from
the Cape which was not actually bought,
| but was held over until Monday. A large
amount of japanese yen has been bought
| by bullion dealers at 76s sd, on the belief
| that American gold importers will take it,
More gold is going from Paris There is
| a slight increase in the amount of Amer
| lean bills offering. The Chinese loan ne
gotiations will probably end next week" "
New York, March 5.-LiquidatiOn was re-
newed with energy on the Stock Exchange
to-day and the Saturday short session was
long enough to effect some very striking
declines. Large selling orders were exc
| cuted for Washington account as was the
| case Yesterday There was no news to
account for this selling beyond a general
| feeling of apprehension over the Spanish
situation.
There were occasional rumors of new
| developments set af1oat, but to a large ex-
tent they represented the guesses of room
| traders as to the motive for the Washing
ton selling. A rally in the late dealings
was in part the result of covering by the
shorts, who had sold early in the day. but
the rally coincident with the appear
ance of the bank statement seemed at va
| rance with the statement, which was in
some respects disagreeable surprise The
| contraction In loans and the falling off in
| deposits and cash were much larger than
| had been expected. The fact that the
| financial world had been going through
such trying period with so. little harm
resulting was accepted as a bull card, in
| view of the underlying strength of condi-
| tions which is thus demonstrated. Never
| theIess the general list shows marked net
declines extending to over point in some
| cases.
Union Pacific preferred, Northwest and
Manhattan were the special points of
| weakness. The Changers were relatively
| firm and the Coalers also showed resist
ance at the decline. Dealings in Sugar
/ were large and there seemed to be good
| support for this stock.
| AS a measure of the uneasiness felt by
| the financial community over the coun-
try's relations with Spain, to-day's state
ment of the New York clearing house
banks make striking exhibit There Is
| in it evidence of a great drawing In of
| credits and fixing of revenues. The state
ment was a surprise. 1t has been known
| that the demands of the country for mon
ey for active use have fallen off consider
| ably this week, but the statement never
theless shows a decrease in cash reserve
of nearly 100000 That this reflects the
withdrawal of deposits in New York
banks by interior Institutions as a precau-
tionary measure TO strengthen their re-
| serves Is beyond doubt.
The enormous contraction in loans Of
s1S. $40, 600 represents the precautionary
| measure of the New York banks and ex-
| FOR fv LOT ftrd