The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-04-24

Bank of the State of Georgia, = bid. 1SS
asked; Savannah Bank and Trust compa-
ny 1o1iS bid. 1929 asked: Chatham Real
Estate and Improvement Company, A, 90
bid, IS asked; b, 541s bid, So asked; Peoples
Savings and Loan Company, 50 bid, 81 ask
ed.
Factory Bouds-Augusta Factory, 10l
bid. 102 asked; Eagle and Phoenix Manu-
featuring Company. per cent. bonds, 81
bid. 40 asked; Sibley Manufacturing Com
pany. S. 100 bid. 1e2 asked.
Factory Stocks-Augusta Factory, S.
bid. rs asked; Graniteville Factory, las
bid, Isl asked; Langley Factory. 1O1 bid.
104 asked; Enterprise Factory, common,
SO bid, 96 asked; ]. r. King Manufactur-
ing Company, 14 bid, l05 asked; Sbley
Manufacturing Company, 20 bid, rs asked;
Savannah Brewing Company, 80 bid, %
asked
New York April '2S-Money on call nomt-
nally at per cent Prime mercantile pa
per 6izd7 per cent. Sterling exchange
firm. with actual business in bankers bills
at $4.A for demand and at $3.50 for 60
days. Posted rates. $4.Sl and $4S415. Com
mercial bills A.79d4,79a Silver certih-
Gates, 55lsQ561zc. Bar silver, 557sc. Mexi-
can dollars, Acc. State bonds were dull,
Railroad bonds were irregular. Govern
ment bonds weak.
New York, April 2S-The weekly bank
statement shows the following changes:
Surplus reserve, increase, Sc, us, OPS; loans,
decrease, ST. 100; specie, increase, $685.
/ 800; legal tenders decrease, 81, 2S2 800; de
I posits. decrease, 1902, 100; circulation, In
crease, 140,SOO. The banks now hold $iS,-
| SIS, 100 In excess of the requirements of the
! Is per cent rule.
New York, April 23.-The Evening Posts
London financial cablegram says; There
was general recovery in the stock market
| here to-day led by Spanish IS, and Ameri-
! cans on further bear closing here and from
New York.
The Paris bourse was also much better,
except in Brazils and Portuguese, which
were sold heavily.
Americans closed under the best on the
reported capture of the Paris which is not
believed at Lloyds.
New York is said 10 have stopped buying
! gold for the moment, but 1t is not believed
that the American demand is not wholly
over yet Money is plentiful here because
brokers abstain from investing freely in
bills.
New York, April 23.-To-day the stock
market was "discounting peace In the
language of brokers. This was done by
lifting prices a notch higher. There was
reported an active demand for securities
in London, but the buying here for Lon
don account was not large as prices here
ruled above London parity.
There were periods of reaction, but the
publication of the bank statement caused
renewed buying and lifted prices to the
highest. They were shaded off by renewed
apprehension as to the safety of the Paris,
the closing being easy below the best, but
at net gains throughout. reaching a point
in some cases. The volume of the dealings
was not large, the Industrial specialties
were favorites in the trading, especially
sugar and tobacco. The general feeling in
financial circles Is that the war is not
likely to be protracted, and only some I'M
expected accident or disaster could effect
the conviction that Spain must speedily
succumb to superior resources.
A feature of the day was the harden
ing in exchange, demand sterling bills ris-
ing to s4.S4. The week closes with a great
part Of the extreme losses in prices recov-
cred net declines not exceeding 2 points
in any of the prominent leading stock. 1t
is noteworthy also that the low prices of
the week were not as low, except in a
few cases, as those on March %, which
marked the lowest point on the decline.
after the blowing up of the Maine.
The grounds for the confidence and i'm
provement in the stock market will be
found in money conditions. To-day's bank
statement shows the surplus reserve to
have increased to 81, 1923, 100 and for the
first time since war threatened the week 5
Increase Is uuG To an dClud1 1HCredSH III
cash, rather than to the lessened reserve
requirements through drawing down de-
posits. That is to say, the demand for
cash from the interior to fortfy reserves
there has almost ceased.
OF the total of nearly $50 10000 of gold
ordered from Europe over 100000 remains
to be accounted for in the bank statement
In view of these conditions, 1t is not
strange that the movement of gold to New
York has come to stop, no engagements
having been announced for two days.
Financial institutions in the United States
have ceased to draw on their credits
abroad, because they feel amply secured
against the money needs of the war
The prices of bonds during the week did
not move SO widely as stocks, either In
the early downward movement or in the
later recovery. Transactions were small
for the week. Net declines In government
bonds for the week in the bid price are
2A in the new As, registered; IL in the new
As, coupon; IL for the old As; ~ for the
5s, coupon.
The total sales of stocks to-day were
$122,4O0 shares. including Chicago Burling-
ton and Quincy, 1908; st. Paul. II, rs;
Union Pacific preferred, II, 1O6; American
Tobacco, 12,S75; Sugar, 2s,145
New York Closing Stocks
Atchison ......... 1O1alSt. Paul ....... S55k