The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-10-30
FINANCIAL.

New York, Oct 29.-Money on call was
steadier at 11zG2 per cent; the last loan
was at 2 per cent. Prime mercantile pa
per- 340414 per cent. Sterling exchange
steady, with actual business in bankers
bills at $4S51aGC4. S534 for demand and at
$4.S2AQ4S2l2 for so days; posted rates
A-89Q4S31a and 4.S612; commercial bills
$4.S. Silver certificates, 61662c; bar sill
yer, 81 3-16ci Mexican dollars, 471Ac. Gov
eminent bonds, easier; state bonds. mac
tive; railroad bonds firm.
New York, Oct. 29-The weekly bank
statement shows the following changes
Surplus reserve, increase, 50, SIS, 225; loans,
Increase. So POI, 800; specie. increase, s. 295.
700 legal tenders, increase, $1,S2S, 800; de-
posts, increase, $751; 100; circulation, in
crease, $3.50. The banks now hold $780,
O91, $50 in excess of the requirements of the
% per cent. rule.
New York, Oct. 29-With the exception
of last Monday, the average of prices on
the Stock Exchange have shown a net
advance for each day since Wednesday,
Oct. 10. There was a general expectation,
therefore, that there would be the selling
TO take profits to-day, which is customary
amongst professional traders at the end
of the week. The buoyant tone of some
of the specialties held the market firm in
the first hour of the short session. Con-
solidated Gas and Third Avenue jumped
6 points, the former on talk of the termi-
nation of the local gas war Tobacco con-
tinued it's aggressive advance on the
strength of the developments showing the
connection of plug tobacco companies.
The stock was very active, and large
blocks were absorbed to make way for
its upward course. The process of bidding
up the price of the Federal Steel securi-
ties also continued.
Meantime the railway list was very dull,
and showed only slight changes, although
nearly all changes were gains. The pub
lication of the Burlington statement for
September resulted in immediate activity
in the Changers at the expense of values.
Losses reached about a point In the other
members of the group, and ~ in Burling-
ton itself. There was a general reaction
in the railroad list, in sympathy, but the
railroad stocks generally were not active,
and losses were confined to fractions.
Prices continued heavy in the railroads to
the close, but net declines were restricted
to fractions outside the Changers and
specialties. The bank statement was with
out influence on stocks, though the grow
ing strength of the clearing house insti-
tutions was evident. Government deposits
figure largely in the cash Increase and
the large expansion of loans must again
be credited for the most part to opera
tons in exchange incidental to lending
money abroad. The strength of silver was
attributed TO buying orders from the Span
ish government.
Bonds have shown increasing activity
and strength during the week, the volume
of dealings on Friday rising to $5,315,O00.
Bonds of Western and Southwestern roads
and reorganization bonds generally have
been the favorites.
There have been large dealings in the
government SIS, coupon, and the record
price, 1868, was made to-day. United
States IS have advanced &c, and the old
As, coupon, and the SIS, coupon, &c. while
the old As registered and the new As,
have declined.
The total sales of stocks were 2l5,500
shares, including Chicago, Burlington and
Quincy, LAS; Rock Island, SAB; St Paul
II ,2l7; American Tobacco, 6S,76O; Sugar
10020.
New York Closing Stocks.
Atchison ........ 12l5St. L. & s. F.. IL