The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-05-01

l. dorSed, 81 bld, ~ asked; BrunsWlck ana
Western Is, p bid. 70 asked. South
Bound Railway IS. 70 bid, IS asked; Geor-
gia and Alabama first preferred 5s, 101 bid.
lOS asked; Georgia and Alabama cons. 5s,
81 bid, 50 asked: Eatonton Branch, so bid.
S71L asked: Central of Georgia. Middle
Georgia and Atlantic division IS, "A bid, IS
asked.
Railroad Stocks-Augusta and Savan-
nah, 80 bid 91tR asked: Georgia common,
172l5 bid, $50 asked; Southwestern, 9Ola bid
| 911a asked; Atlanta and West Point stock
1O4 bid, 1914 asked; Atlanta and West
Point per cent. certificates, 1903 bid, 104
| asked: Savannah Construction Company.
Is bid IS asked.
Gas Stocks-Savannah Gas Light stock
c0lk bid, 211s asked: Electric Light and
Power Company, 7215 bid 741s asked.
Bank Stocks Etc.-Citizens Bank, 100
bid, no asked; Chatham Bank. As bid. ~
| asked; Germania Bank, 100 bid. 10 asked;
National Bank of Savannah, 125 bid, 1876
asked; Merchants National Bank, 81 bid
| S4l4 asked; Oglethorpe Savings and Trust
Company. los bid, LOG asked; Southern
Bank of the State of Georgia. 100 bid. l25
asked; Savannah Bank and Trust Compa-
ny, 1917 bid. 1929 asked Chatham Real
Estate and improvement Company A, 54A
bid. 5554 asked; b. 5S1a bid, sag asked; Peo-
pies Savings and Loan Company IS bid, 81
| asked
Factory Bonds-Augusta Factory, 101
bid, 1O2 asked; Eagle and Phoenix Manu-
| featuring Company. 5 per cent. bonds, 80
bid, 40 asked; Sibley Manufacturing Com
pany, 6s. 100 bid, 102 asked.
Factory Stocks-Augusta Factory, IS
bid, rs asked Graniteville Factory, las
bid ISL asked; Langley Factory, 101 bid
1O4 asked Enterprise Factory, common,
| SO bid, Sc asked; j. r. King Manufacture
ing Company, 104 bid, 105 asked; Sibley
Manufacturing Company 20 bid, rs asked
Savannah Brewing Company, 80 bid, 90
asked
New York. April 30.-Money on call was
steady at 2d21a per cent, Prime mercan-
tile paper. 6t17c Sterling exchange weak
with actual business in bankers bills at
a. SSa4 G4.S4 for demand, and at $4SO150
4sl for sixty days. Posted rates. S4Sl15@
4.S2 and 81 S5a4 S51a Commercial bills,
| 81. S0G14. S015. Silver certificates, 1000
ounces sold at 5714Q579lc, closed, 57lz45Sc.
| Bar silver, $685. Mexican dollars, 454c.
| State bonds duh Railroad bonds strong.
Government bonds firm
New York April 3O-The weekly state
ment shows the following changes: Sur
plus reserve, increase, 1919, SIS; loans, de-
crease s. AS, 200; specie, increase, $2975 800;
legal tender. decrease, 1854 500; deposits,
| decrease, $2,713 800; circulation increase,
STA, 300. The banks now hold $44, 5O4675, in
| excess of the requirement Of the % per
cent. rule.
New York, April So-The Evening Posts
London financial cablegram says: THE
stock markets here to-day were stagnant
| in view of the holiday on Monday next.
Consols declined on the fall in sterling in
New York. Brazils were fat its ex
change being the lowest on record. Dear
! wheat aggravates the troubles in all grain
| importing countries. New York bought
gold slightly"
New York, April 3O.-There was quite an
extensive taking of profits to-day after
! the three-days' advance in prices. The
realizing sales clipped off something from
the days extreme advance, leaving net
! gains in the railroad list mostly fractional
In some of the specialties. notably Sugar,
there remained over a point of net gain.
The bull leaders this morning had to
| face the sentimental effect of early de-
! clines for Americans in London extending
| 10 nearly a point in some cases. This
meant that any advance in prices here
would have to carry the burden of arbi-
TRACE rates. Prices were, however, bid up at
| every appearance of confidence, and the
offerings of the arbitrage brokers were
| quickly absorbed.
The aggressive leadership of the big
! bulls, coupled with favorable news, kind
! led the enthusiasm of buyers and the
| small traders followed the lead of the big
ones Quite fair amount of commission
! house buying was also, done. But white
! business was still active. and on a large
scale stocks began to be supplied. The
offerings were sufficient to feed the de-
mand and prices ceased to advance, and
before long commenced retrograde move
ment Before the reaction had proceeded
far the supply ceased. But meantime a
handsome total of stocks had been market
ed at the advance.
There was some renewal of the buying
demand in the second hour, but it did not
reach large proportions, and the recoverieS
in prices, after The reaction, were not i'm
portant The market for stocks and bonds
in the early days of the week was the dull
est and narrowest that has been seen for
years. In so duh a market there is usual
ly a natural tendency of prices to sag. But
there was a marked disposition in the
market TO resist any downward tendency,
due to the conditional orders in brokers'
offices to buy stocks on any sharp &C.
cine.
The hardness of prices encouraged a
powerful coterie Of professional operators
to enter the market for a bull turn. They
commenced operations on Thursday. Some
/ following was induced by this leadership,
both among room traders and among com
mission house customers Whether the
days profit taking marks the termination
OF the campaign by the big bulls does not
appear on the surface.
The future of the money market has
hinged for some time on the needs of the
government for war loan. The consulta-
ton Of the Secretary of the Treasury with
number of leading financiers served 10
clear the situation. The success of the
proposed loan at 3 per cent. was felt to
be assured and the plans for disburse-
ment seemed to be sufficient to guard
I against sudden contractions and strin>
gency. This was felt TO give promise
of easier conditions in the money market
where reserves have been closely held and
accommodations much restricted for some
time past in anticipation of the demand
for the government loan. The actual con-
ditions of the market have become appre-
ciatiVely easier during the week and the
rate for time loans was shaded from TO
51s per cent
The downward tendency of the railroad
bonds has been arrested and prices have
improved during the latter part OF the
week on an increased business. United
States new As have advanced ~ and the
IS coupon u. while the old IS registered
hava declined in tho hfd rrioa. OH.