The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-09

DID, % asked, eX-diV.; Germanla Bank, Iuo
bid. 100 asked. ex-div.; National Bank
Merchants National Bank 81 bid. SO
asked, ex-div.; Og,ethorpe Savings and
Trust Company, 1903 bid, - asked, eX-div.;
Southern Bank of the State of Georgia,
40 bid las asked, ex-div.; Savannah Bank
and Trust Co., l0l bid, 102 asked, ex-div.
Chatham Real Estate and improvement
Company A, 541s bid, 551k asked; B. "a bid,
54l2 asked, ex-div. Peoples Savings and
Loan Company, sc bid, 100 asked.
Factory Bonds-Augusta Factory IS, 1Ol
bid. 1O2 asked; Enterprise Factory IS, 100
bid. 10l asked; Eagle and Phenix Manu-
| featuring Company per cent, bonds -
bid, 40 asked; Sibley Manufacturing Com
rany IS, 10l bid, 1O2 asked.
Factory Stocks-Savannah Cotton Fac
tory, bid, 10 asked. Augusta Factory
| 20 bid, SO asked; Grnniteville Factory, 145
| bid, ISL asked; Langley Factory, 104 bid.
1854 asked; Enterprise Factory, common,
80 BID. sc asked; ]. r. King Manufacturing
Company, 1O4 bid, 1O5 asked Sibley Manu-
! lacturing Company, 70 bid, rs asked; Sa-
vannah Brewing Company 81 bid, "a asked.
New York, Jan. S.-Money on call was
steady at 3qS19 per cent; the last loan
was at per cent, and closed offered
per cent Prime mercantile paper, S12Q4la
| per cent. Sterling exchange steady, with
| actual business in bankers bills at S4.S51s
| for demand and at 81 .S27s for sixty days.
| Posted rates, 81 .S31aG4 "a; commercial
| bills, $4.S212 Silver certificates, 5714Q513sc.
Bar silver, SIC. Mexican dollars, 45A.
| State bonds were quiet. Railroad bonds
were strong; government bonds were firm.
New As, registered, 1923; coupons, 12S; As,
registered 112S4; coupons, 1875; seconds,
1919; IS, registered, 11424; 5s, coupons, l14A;
| Pacific 6s of '99, 1881.
New York, Jan. S.-The weekly bank
statement shows the following changes:
Surplus reserve, increase, $6.475,S25; loans,
| increase, s., 1896, 300; specie, increase, $780,
800; legal tenders, increase, ST. 0,1O0; de-
posits increase, $1052S, 800; circulation, in
crease. $64, 700. The banks now hold $22,-
264, SIS in excess of the requirement OF the
% per cent. rule.
New York, Jan. S.-The exports of spe-
Gle from the port of New York this week
amounted to 100000 in gold and $1,102,5 lS
in silver. The importations were: Gold
$S17, $751; silver, 1857, 2lS; dry goods, $3.50
152; general merchandise, $7,2S71S4
New York, Jan. S-There was pront-
taking on quite large scale In the stock
market to-day, after an additional ad-
vance in prices in the early trading. That
there should be taking of quick profits
after such a sharp rise as that of the last
few days, was to be expected and the pro-
| fessional dealers who bought stocks late
on Wednesday and Thursday sold their
holdings of the most active and strongest
| issues. The realizing was quite pronounc-
ed in it's effect on New York Central and
Sugar, which reacted more than point
from the high level of the morning.
There was evidence of continued realiz-
ing in the local traction companies. These
properties have advanced steadily all
through the dullness and the depression
of the last few weeks, apparently on pool
operations and the present general strength
of the market is being avaied of to
take profits in these. Some of the
Cd do
preston to-day Notwithstanding these
reactionary tendencies the general tone of
speculation continued strong and conf
dent. Business was on a large scale and
2 embraced a large number of different is
; sues, some of the usually inactive stocks
being brought into prominence by sharp
, advances.
The pressure of large sums of newly dis
I bursed money seeking reinvestment was
= reflected in the demand for high grade in
3 vestment stocks, the Vanderbits advanc-
> ing on an average point or more. Lake
1 Shore was helped by the report that some
$40 445, 600 of that companys old high in
terest bearing bonds had already been ex-
changed for the new refunding 31as with
D a consequent saving in annual interest
charges of $5S8 S75. The demand for bonds
> also continued very heavy There was
one transaction of 100000 of New York
Chicago and IT. Louis As at 107.
|
now the highest and pressure of invest
ment funds forces money into the
middle and lower grade issues. Realizing
at the close reduced prices considerably
. from the best and in some case wiped out
of the earlier gains. This caused an cas-
I Ter closing with net changes mixed be-
tween gains and losses.
The expected has happened in the stock
market this week, in an outbreak of some
thing like furore of speculation and ar
upward rush of prices of pretty much al
grades of securities. There was a halt il
! the anticipated awakening on Monday and
| Tuesday and some declines, due to severa
/: causes. but primarily to disappointment
: | at the contipued stiffness of the money
' market pending the final payment of the
| Union Pacific settlement This involved
2 the Withdrawal from the market of 50, 53S
= 401, and its payment into the treasury, and
; | its operation, together with the accumua
ton of funds incident to the regular Jan
uary dividend disbursements, resulted il
a the raising of money to per cent. or
v Monday. By Wednesday afternoon thu
( funds thus distributed began to come bacl
into the market for investment and thu
4 governments outgo of interest and re
8 demption had offset the Union Pacific
5 payments. The decline in prices of stocks
9 earlier in the week were quickly relieved
r and professional operators and commits
4 sion house brokers acting for outside spec
ulators and investors, began TO vie will
, each other in marking up prices
4 To-days bank statement showed thu
z complete rehabilitation of the New Yorl
= money market. which has been accom-
: plished not only by the release of fund.-
J.; at this center, but by a large inflow o
= money from interior points, invited by tn
= recent high rates for money. Condition
r promise such a plentitude of money tina
2 money lenders see their prospects marre'
) and there is talk of releasing to the gov
eminent it's deposits. which were left il
New York banks on account of part of tn
T. Union Pacific payments These deposit
8 amount to something over 100000. Par
n of them are secured by government bonds
9 whose redemption is already provided for
, so that their surrender would involve sim
: ply a bookkeeping exchange.
!, Business in bonds has been of large pro
= portions since Wednesday, and some larg
J, advances are recorded. Prices through
a out are higher. Sales for the week wer
z $17, 100000
: Government bonds are all higher on tn
= week, prices having been bid up q for tn
old As coupons, p for old Is registered. 2
for the IS and per cent. for the new As
Total sales Of stocks to-day. 22440) in