The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-09-09
THE MORNING NEWS: FRIDAY. SEPTEMBER Q. 1898

Savannah Construction Company, 81 bid,
81 asked.
Gas stocks-Savannah Gas Light stock,
2214 bid, % asked; Electric Light and
Power Company, Y bid. IS asked.
Bank Stocks Etc.-Citlzens Bank. 110N
bid. III asked; Chatham Bank, As bid i9
| asked; GeCmania Bank, 110l5 bid. 1l1h
asked; National Bank of Savannah, LIS
bid 12G asked; Merchants National Bank
So bid. S4la asked; Oglethorpe Savings
and Trust Company, 1O4 bid, los asked;
Southern Bank of the State of Georgia,
$50 bid 1872 asked Savannah Bank and
! Trust Company, 1902 bid, 1O3 asked; Chat
| ham Real Estate and Improvement Com
pany a, 5Jls bid, SO asked; b, IS bid, 5552
asked; Peoples Savings and Loan Compa-
n.y. 80 bid, % asked.
Factory Bonds-Augusta Factory 1O5
bid 1O6 asked; Sibley Manufacturing Com
pany, 6s 100 bid, 1902 asked
Factory Stocks-Augusta Factory. 55 bid
! IS asked; Graniteville Factory, 40 bid 145
| asked; Langley Factory, 100 bid, I0l ask
ed; Enterprise Factory, common. 90 bid
| 81 asked; J. Il. King Manufacturing Com
pany, 100 bid, 10l asked; Sibley Manufac-
turing Company, 20 bid. 76 asked; Savan-
nah Brewing Company. 20 hid 1O1 asked
New York, Sept S.-Money on call was
firm at 2l9Q3 per cent; the last loan was
at 3 per cent; prime mercantile paper 4G
AZ per cent. sterling exchange heavy,
|
&.4A44S4l5 for demand. and at $4S2ssG
4.S29s for go days; posted rates, $4.S31aq4, "a
and S4.S5l2d4. Sc; commercial bills $4.S1RG
ASIA. Silver certificates, 601406024c; bar
silver, 60$sc; Mexican dollars, 46S4c Gov
eminent bonds were strong; state bonds
We're dun; railroad bonds were firm.
New York, Sept. S.-St Paul made the
market this morning and broke it this af-
ternoon. Trading was not on a large scale
during the day and all interest centered
in the meeting of the St Paul directors TO
act on the dividend. The rumOr mongers
fixed the dividend rate on the common all
the way from ~ 10 91a per cent. There
was large buying of St. Paul here for
| London account, and there was very ac-
| tive trading on the London curb after the
| close there, according to cabled reports.
| Inc price was rushed up to 115 without
| any attention being given to warning
! statements that very powerful interests in
! the directorate We're opposed to anything
| more than the 21a per cent. rate. When
! the announcement came at about 2:20 p. m.
| that the directors had made the semi-an-
nual dividend only 212 per cent, the price
| dropped without check, except for momen-
! tary pause at each even number to 110h
which was 43l below the best. Numerous
| blocks of many thousand shares were
| thrown on the market with precipitate
| eagerness, and the market speedily took
! on panicky conditions. There was a quick
| rally of to 152 per cent. in those stocks
| which suffered most severely, but St. PAU
| was kept back by apparently endless offer
| ings about Ill, and closed only q above
| the lowest, with very weak tone. The de-
morallzation caused by the break In ST.
| Paul came on a market showing consider
| able strength and at a level materially
| above yesterdays close.
| The rate for call money after going to
| per cent again, eased off TO per cent.
! under the influence of the engagements of
| 100000 gold for import. and the prospec-
| tive measures for relieving the money mar
! ket by the treasury department. The dun
| ness of the local time money market indi-
! Gates the conviction that the present stiff
ness Of rates will not long continue.
| On the other hand discounts hardened to-
| day in London. Monetary conditions, how
| ever, were entirely lost sight of in the late
| decentralization of the stock market
Bonds were dun and firm for most of the
| day, but yielded in sympathy with stocks
in the late trading. Total sales s.. 800 600.
United States Old As, registered, the IS
and the IS when issued advanced a per
| cent. in the bid price
The total sales of stocks to-day We're 5SS,
! 800 shares, including Atchison preferred.
! 6,691; Baltimore and Ohio 5,749; Burling-
ton 81, $50; Illinois Central, 1906; Louisville
and Nashville 1880; Manhattan, Is 100;
! Metropolitan Street Railway, 6420; North
ern Pacific, 21,520; do preferred, 26, 02O; Rock
Island, 272S9; Union Pacific $500; ST Paul
| 1885, Union Pacific preferred II, $50 Amer
! lean Tobacco, 14,720; Chicago, Great West
ern, 1O,125; Peoples Gas, %, 220; Sugar, Sc,
| 020; Tennessee Coal and Iron, 1922
| New York Closing Stocks