The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-05-08

asked.
Railroad Stocks-Augusta and Savan-
nah, 80 bid SO asked; Southwestern, 80
bid, 92l5 asked; Atlanta and West Point
stock 1N bid, 1912 asked; Atlanta and
West Point per cent. certificates. 1903 bid
1O4 asked; Georgia common, Ito bid, $50
asked; Savannah Construction Company
IS bid, 50 asked.
Gas Stocks-Savannah Gas Light stock,
coz bid. 21lb asked; Electric Light and
Power Company, 72l5 bid, 74la asked.
Bank Stocks, Etc.-Ciuzens Bank. 100
| bid ITO asked; Chatham Bank, 46 bid, Az
| asked: Germania Bank, 100 bid, 10 asked;
National Bank of Savannah, 125 bid, 196
asked; Merchants National Bank, 50 bid,
$40 asked Oglethorpe Savings and Trust
sCompany. 105 bid, JOG asked; Southern
/ Bank of the State of Georgia, $50 bid, 13o
| asked; Savannah Bank and Trust Compa-
ny, 1912 bid, 1921 asked; Chatham Real
Estate and improvement Company. A, 81
BIZ, 55A asked; B, 5S14 bid, 5414 asked; Peo-
pies Savings and Loan Company, "a bid,
95la asked.
Factory Bonds-Augusta Factory, 10l
bid lO2 asked; Eagle and Phoenix Manu-
| featuring Company, 5 per cent bonds, 81
| bid. 40 asked; Sibley Manufacturing Com
pany. 6s 100 bid 102 asked
Factory Stocks-Augusta Factory, s.
hid. rs asked; Graniteville Factory, las
hid ISL asked; Langley Factory, 101 bid,
1Ol asked; Enterprise Factory, common,
SO bid, 96 asked; ]. r. King Manufactur-
| ing Company, 104 bid. 105 asked; Sibley
Manufacturing Company. 70 bid, 76 asked;
Savannah Brewing Company, 80 bid, "
asked
New York, May 7.-vMoney on call was
| steady at per cent. Prime mercantile
paper. 5Iaa7 per cent. Sterling exchange
firm with actual business in bankers bills
at $4S4A for demand, and at %.SOs444.Sl
for sixty days Posted rates, &.Sl19Q4.S2,
and s4.S564. ssh. Commercial bills, S4SOQ
4.SoA. Silver certificates. 56q56l4c. Bar
silver, 561sc. Mexican dollars, 45c. state
bonds were dull. -eailroad bonds were
| strong Government bonds were strong.
New York May THE weekly bank
| statement shows the following changes;
Surplus reserve, decrease, $5SS,a0; loans,
| increase 1851, 100; specie, increase. $l,S9S,-
| 100: legal tenders decrease, 81, 708, 800; de-
posits increase, 81 113600; circulation, IN
| crease, 1914, 400. The banks now hold 49,
GIG. AS in excess of the requirements OF the
% per cent. rule.
New York, May THE Evening Post
| London financial cablegram says: The
stock markets here were idle and dull to-
day. The only feature was the payment OF
the Chinese Indemnity to Japan of fl2,0OO,-
OOO 81 100000 in Berlin and I'll, COS, S5S at the
| Bank Of England this being the largest
check ever drawn The money market was
less affected than had been expected
Americans were lifeless Spanish As were
fat although exchange was steadler. New
York bought about 100000 in gold which
| arrived to-day from the cape at IT'S SS4d
New York. May 7-Stock brokers had
busy two hours during the short session
of the exchange to-day. The market was
| furiously active throughout and the Keen
ness for stocks gathered force as the ses-
sion progressed until il had become very
ike a scramble toward the close. Occa
sionai offerings by operators content to
take their very substantial profits were
swallowed up with almost no erect IN
prices.
The elements Of apprehension which had
caused the reaction at the close yesterday
were cleared up. The release of the La
fayette eliminated the fear of compli-
cation with France over her seizure.
The reported announcement of the ar
rival of the McCulloch at Hong Kong
with dispatches from Admiral Dewey re-
lieyed the natural uneasiness that was be-
ginning to be felt over the prolonged de-
lay in receiving official advices from him.
The continued excitement and advancing
prices in wheat gave added strength TO
the stocks of railroads running through
the wheat belt The bank statement was
also interpreted as distinctly favorable
The force of the upward tendency of
prices was remarkable in the second hour
and the days net gains range between l
and points for most of the leading stocks
The animation and strength of the stock
market during the week has been in
strong contrast to the lethargy of the
early part of last week.
It is an old established maxim of mar
kefs that a naval or military victory viii
result in a rise. Commodore Dewey's VIC
tory in its completeness and thoroughness
with which the work was done, would nac-
urally be particularly forceful. The dem
onstrafion it gives of the incapacity of the
Spanish naval resources and the democrat
lied conditions of Spanish financial and
| governmental conditions at home, which
have failed TO make an early termination
Of the conflict to be counted on. But IL
is in the favorable conditions at home
which will be given full play by the enc
ing of the war, that the stock market has
found its greatest ground for confidence
in the future
The weeks developments in the wheat
market alone give the brightest promise
for future growth Of prosperity in this
country.
The weeks developments In the money
market show that the long process of
preparation TO meet the countrys war
needs have been completed.
ing Up of reserves is over and conditions
made in lending money are more liberal
The bond market has fully shared in
the activity and strength Of the stock
market, and prices are higher all around.
United States new As have advanced 3sl
old As, registered. *; IS, coupon, ~; old
Is, coupon, !, and the 5s, registered, p,
in the bid price.
The total sales of stocks to-day were
322.9O0 shares. including Atchison prefer.
red, 1890; Chicago Burlington and
Quincy, 1886; Louisville and Nashville.
1885; Reading first preferred, 5.72O; Mis-
souri, Pacific, 1850; Northern Pacific. 1920:
Northern Pacific preferred, 1O4s5; Rock ISL
and. 29,6O5; st. Paul. 31,9e5; Union Pacific.
preferred. 2So20; Wabash preferred 1850:
American Tobacco. A,9s0; Peoples Gas,
$3.50; Sugar. 1920
New York Closing Stocks.
Atchison ..,.... 121sISt. Paul ... 81
do pref. ....... 291sI do pref ....... f44lhl
Bait e. Ohio =. 1SlzlSt p. & ON. =. 70
Can. Pacific S2l5I do do pref. .150
Can. Southern 5O7slSt p. NJ. & MI
Cent. Pacific y $50. Pacific ..... 15h
Ches. e. Ohio 21AIso. Railway 80. 81
Chi. & Alton ..15S do pref .... 2sss
c. 3 & O. go. SO Texas <. Pacific M