The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-16

am trust To-, luV Dlu, lulA2 asked, SA-ulN-s
chatham Real Estate and Improvement
Company. a. 541a bid, 55la asked; B, 81 bid,
541e asked, ex-div.; Peoples Savings and
Loan Company. 80 bid. 100 asked.
Factory Bonds-Augusta Factory IS. 101
bid. l02 asked; Enterprise Factory IS, 100
bid, l0l asked; Eagle and PheniX Manu-
featuring Company per cent. bonds. -
bid, 10 asked; Sibley Manufacturing Com
T0ny 6s, 10l bid 1O2 asked
Factory StocksASavannah Cotton Fac
| tory, bid, 10 asked; Augusta Factory,
| 50 bid. SO asked; Graniteville Factory, las
| bid, 151 asked; Langley Factory, 104 bid.
| 1854 asked; Enterprise Factory, common,
% bio, y6 asked; J. r. King Manufacturing
| Company, 104 bid. 105 asked; Sibley Manu-
featuring Company, 70 bid &c asked; Sa-
| vannah Brewing Company 50 bid. IS asked.
| New York, Jan. 15.-Money on call was
| steady at per cent. Prime mercantile
| paper SQ4 per cent. Sterling exchange
| heavy with actual business in bankers'
| bills at S4.S424 for demand, and at ,$i.S2l4dg
4.S2a4 for sixty days. Posted rates, 1880
4.SSl4 and &.S51aG4S6. Commercial bills,
| A.S2. Silver certificates 57lb@5S1ac Bar
| silver, 573sc. Mexican dollars. Acc. State
| bonds We're dull; railroad bonds were
| steady; government bonds steady; new As
| registered interest, 1281s; coupon 12Sls As
registered, 1928; coupon, 1H2sc; Is, 100; IS
| registered ex. interest, 1872; coupon, ll4A
| Pacific 6s of '99, 1884
1
| statement shows the following changes:
| Surplus reserve, increase, IS, 704, 200; loans,
| increase, $1,2l5700; specie, increase, $685.
| 500; legal tenders, increase, 50, 800; de-
| posits, increase, 5000, 400; circulation, de-
| crease, $4S0400. The banks now hold $25,-
| $685. IT'S in excess of the requirements of the
| % per cent. rule.
! Washington, Jan. 15.-To-day's state
ment of the condition of the treasury
shows: Available cash balance, $2S9, &c.
1879. Gold reserve, 1852, 419,6Ol.
| New York Jan. 15.-The export of spe-
| Gle at the port of New York for the week
was $524,0 in gold and $S73.5S5 in silver.
| The imports were: Gold, SOS, S65; silver
SCI, ESQ., dry goods, $2,422, $50; general mer-
chandise A,149,149.
| New York Jan. 15.-Evening Posts
| financial cabegram says: THE stock mar
kets were quieter here to-day. Americans
were rather dull on New York prices, but
| with firm undertone here"
New York, Jan. 15-The stock market
| was subjected to a rather drastic liquida-
| ton of speculative holdings to-day in con-
| tinuation of the movement of yesterday.
| The selling was due to a feeling that it
was safer TO take profits at the present
| level than to retain holdings over Sun
day.
The situation al Havana was the mo-
tive for selling. There was no assurance
| felt that there may not be a sudden de-
velopment of a dangerous situation there,
which would necessitate immediate meas
ures by the United States naval forces to
protect the interests of the citizens of the
United States residing in Havana.
Fears on this score were somewhat ag-
| gravated by the persistent selling of
houses with Washington connections. This
| was taken to reflect a feeling of apprehen-
| sion in official circles as to the outcome of
the situation. OF course the professional
| traders We're ready to turn sellers with
| out further inducement on the general
| principle that prices go down much more
| easily and quickly than they go up. The
| bear attack was vigorous and effective,
| and margins being wiped out in many
cases, large holdings were thrown over to
save losses thus adding to the weakness
| of the market
A sharp rally at the close on the cover
ing of the short lines put out earlier IN
dictated that bear selling made up a con-
siderable proportion of the whole. Man
haitian exercised a short but effective in
| fluence in the list and there was some
very heavy profit taking in stock, on the
strength of the weeks large gains. The
price was at one time 13s below last
nights close
Sugar also showed extreme weakness in
continuation of the liquidation which had
| been going on all the week in the stock.
1t fell pa and rallied, but feebly Third
Avenue dropped points to 10, wiping
out all of yesterdays gain in price, but
rallied IL.
Nearly every active stock on the list
| was at one time a point or over below
| last nights close, but the governing move
ment reduced net declines in some cases
| to fractions.
To-day's and yesterdays reactions in
! the stock market put an end to the period
of strength and activity earlier in the
week which was regarded as giving good
promise of the usually expected January
boom in prices.
Only those stocks which scored extreme
advances early in the week have anything
| left to show for 1t, the general level of the
market being decidedly lower than at last
| Saturdays close. The frmness with which
| the market withstood the first effects of
the news of the Havana rioting on Thurs
| day led to the hope in the minds of the
| bulls that the power for evil of the Cuban
| question had been tested to the full But
the market was sustained on Thursday,
only by the striking strength displayed by
| the Vanderbits New York Central and
Lake Shore, rising about points EACH on
| reports that new plans were in contempla-
| ton for operations looking to reduced cost
| and increased dividends on the stocks.
| The amount of the trading on a practic-
| ally stationary market on Thursday might
| have served as warning of what would
| have had happened had this sustaining
| force been withdrawn. 1t is obvious fact
| that heavy realizing was in progress I'll the
| week, side by side with the active strength
| of special stocks. The special point of van
tage on which the strength of the market
| held earlier in the week was the Northern
| Pacific stocks, the Union Pacific and it's
! various affiliated and connecting lines, the
source of this strength being the assurance
| of the continuance of Union Pacific's old
| outlet to the Pacific coast. Northern Pa
| cific and the Union Pacific group also en-
| joyed the benefit of anticipations of large
| Klondike business In the spring. Another
| source of strength to Northern Pacific was
the decision of the Interstate Commerce
| Commission to continue the suspension of
the long and short haul clause in cases
where rates were not in competition with
| Canadian lines
| Manhattan was another point of
| strength, with a 10 points rise, half of
which has been lost in the taking of pro-
fits Sugar was rersistently weak It's de-
| cline has been attributed to the declared
! purpose of the directors to retain the sur
! plus for contingencies and professional
traders have taken gloomy, but I'M
formed, view of what these contingencies
might be. The pendancy of the Hawaiian