The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-30


coupons, ll4Ss; Pacific 6s Of 49, 1854
washington, Jan. 29.-To-day's statement
OF the condition of the treasury shows:
Available cash balance, S2ll,1S4919; gold
reserve, Sl6tO)5.47S.
New York, JAN 29.-The weekly bank
statement shows the following changes:
surplus reserve, increase, 81. 3S4, $50; loans,
increase, s., 9O5 COO; specie, increase s.. 445,-
ZVo; legal tender, increase, s., S91. 800; depos-
IT'S Increase. $500, 400i circulation, de-
crease, Sl249O0. The banks now hold S55, 609
4o9'in excess of the requirements of the %
per cent. rule.
New York. Jan. 29.-The Evening Posts
London financial cabegram says:
Americans were dun here to-day in re-
spouse to New York prices, but the close
was above the lowest. Gold is in good de-
mand. Money is likely to be more in de-
mand next week"
New York. Jan. cat the opening the
stock market to-day looked as though the
. orders accumulated by commission houses
over night We're to sell in order to take
profits. The first sales were very geper-
al at fraction below last nights price
and Zoo shares of New York Central
thrown on the market drove the price of
the block down q. The market steadied
almost Immediately and recovered grad
ualiy to above last nights level net gains
being, however, very unequal.
Liquidations from London this morning
showed some depression for Americans
there, which was attributed to the appre-
hension awakened in the British mind on
Yesterdays vote on the Teller resolution
in the Senate.
The week opened with continued ten
dency toward a reaction and the hesita-
ling tone in the early dealings on Mon
DAY gave way to very positive weakness
uponNthe announcement that the Maine
had been ordered to Havana.
This sharp decline seemed to clear the
speculative situation by giving the shorts
an opportunity to cover. The character
OF the buying at the decline made IL very
evident that the powerful interests had
taken up heavy lines of stocks with con-
tidence and their aggressive manipulation
for an advance was evident during the re
mainder of the week. The most
effective factor in their favor
was the strong upward tendency of New
YORK Central, at first unexplained, but
made clearer by Information of plan in
contemplation for absorbing the Lake
Shore. How much the general strength of
the market was due to the influence of
this special movement, and the sympathe-
TIC strength in the widely extended Van
derbilt group, was made evident on Fri
day, when a realizing movement in New
York Central left the market without
support and a reaction ensued.
Another sustaining force was the an
nouncement that of the .refunding plan,
and the very large increase in net earn
ings for the fiscal year thus far shown
by the presidents statement. Rock Is
land held the advance in the whole Gran
gers group until the publication of the
December earnings of Burlington and St
Paul which were viewed favorably by
the opera tors
The statement of the railroad earnings
have usually been favorable lately, nor
tably those of Northern Pacific and Penn
sylvania, published to-day. the latter be-
ing regarded as an especially reliable in
deX of the country's railroad business.
All of the securities of the Kansas and
Texas. company have been very strong
during the week on the improved finan-
cial condition shown by the reports for
the year thus far.
The bulls made increased purchases. in
anticipation of the Presidents speech on
Thursday, and some of Fridays selling
was due to realizing on the delivery of the
speech. The realizing was helped consid-
erably by large buying for London ac-
count on Wednesday and Thursday and
this was followed by an almost equal
amount of selling on the succeeding day.
1t was evident that the trading was for
a short turn.
The money market was easier, notwith-
standing the withdrawal from the banks
OF the first 10 per cent installment of the
governments Union Pacific payments
There was also an abundance of money
and the ease of rates is all that prevents
larger imports of gold, as the supply Of
exchange is constantly increasing, and
rates for money in London and Berlin are
again hardening.
Net gains in the general list extend I'D
to 3 points and in the specialties to ~
in Lake Shore, and 61a in New York Cen
trail. Kansas and Texas preferred. Chi
cago and Eastern Illinois stock. Rock
Island Northern Pacific preferred. and
Northwest, also made heavy gains. With
sales of bonds for the week on a par
value of over $26,00OO0O in that deDart-
ment the exchange exceeds all previous
business, both for the week and on the
month thus far, any months business
previously done. Many sales were made
for profit-taking, but prices are higher for
the week. United States As, coupons, are
&c bid higher
Total sales of stocks, 201, 800 shares in
Guiding Atchison preferred. $3.50: Chicago
burlington and Quincy, 1850:
Denver and Rio Grande nre,
ferred, 7410; Lake Shore, 3,42O Louis
vile and Nashville. M,27o; Manhattan
5120; Missouri Pacific 3,2O5; Missouri
Kansas and Texas preferred, $50; New
York Central ESQ; do preferred, 1878:
Rock Island, 4,301; st. Paul, 1850; South
ern Pacific, $3.50; Union Pacific, $3.50; Chi
cago Gas, S,O51; Sugar, $3.50.
New York Closing Stocks.
Atchison ........ 1S1sSt P & Om.. ... 76M
do pref. ..... 81 do do pref ISL