The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-20

uOtSSOts ~ uiu, u dShSus bIuiSWlCh anu
Western As, 70 bid, 77l4 asked; South
Bound Railway IS, 7l1s bid. 1914 asked;
Georgia and Alabama first preferred 5s,
1913 bid, 1O4 asked; Georgia and Alabama
cons. IS, IS bid, 50 asked; Eatonton
Branch, 81 bid, SSM asked; Central of
Georgia, Middle Georgia and Atlantic Di-
vision SIS, 81 bid, 50 asked.
Railroad Stocks-Augusta and Savannah,
81 bid IS asked; Georgia, common; $50 bid,
1873 asked Southwestern, 1884 bid. 9ils
asked; Atlanta and West Point stock, 1Ol15
bid, 10S asked; Atlanta and West Point
per cent certificates, 1914 bid 10S asked;
Savannah Construction Company, bid,
50 asked.
Gas stocks-Savannah Gas Light stock.
p bid, % asked; Electric Light and Power
Company, Is bid, n asked
Bank Stocks. Etc.-Citizens Bank. 109&
bid. 11o15 asked; Chatham Bank.
As bid. 40 asked; Germania Bank. los
bid, 100 asked; National Bank of Savan-
nah, 125 bid s126 asked; Merchants National
Bank, 81 bid, S71A asked; oglethorpe Saw
ings and Trust Company, los bid. los
asked: Southern Bank of the State of
Georgia, bid, 139 asked; Sa-
vannah Bank and Trust Company, 1O2
bid, lO21A asked; Chatham Real Estate and
! Improvement Company A, So bid. Sc
asked; B, SAY bid, So asked; Peoples Saw
ings and Loan Company, SO bid, 80 asked.
Factory Bonds-Augusta Factory, 50
bid, 81 asked; Graniteville Factory, 145 bid,
! lol asked; Eagle and Phoenix Manu-
featuring Company, per cent. bonds, -
bid, 40 asked; Sibley Manufacturing Com
| pany IS, 101 bid, 1O2 asked.
Factory Stocks-Augusta Factory, 50
bid, SO asked: Granitcville Factory, las bid,
ISL asked; Langley Factory, 1O4 bid, 1854
| asked Enterprise Factory, common. SO
! bid Sc asked; j. r. King Manufacturing
| Company, 104 bid, 105 asked; Sibley Manu-
featuring Company, 20 bid, 76 asked; Sa-
vannah Brewing Company, So bid, 81 ask
| ed.
| New York, Feb. 19.-Money on call was
| easy, IL per cent; the last loan was at
| ~ per cent. Prime mercantile paper 36l4
per cent. Sterling exchange firmer, with
| business in bankers bills at S4s51a for de-
mand, and at 81. S3GD4S3la for sixty days;
| posted rates, $4S4 and $4.S61ac. Commercial
bills, S482 Silver certificates, 55A@56l2c
| Bar silver, 55slc. Mexican dollars 45Ac
| State bonds quiet. Railroad bonds weak
| Government bonds weak.
New York, Feb. 19.-The weekly bank
| statement shows the following changes:
| Surplus reserve, decrease, Sc, las, 600; loans
| increase $7,07S, 800; specie, increase, 1885,
| 100; legal tender decrease s. Gas, 500; depos-
its, decrease. 1923, 800; circulation, decrease,
1 S126 600. The banks now hold $25,6SS $50 in
| excess of the requirements of the 25 per
| cent. rule.
| New York, Feb. 19.-The Evening POSTS
| London financial cablegram to-day says
| '"To-day's stock markets were stagnant
| pending the settlement, which begins on
| Monday. The West African scare mo-
| mentarily upset all the markts, mainly
because of the general bull account with
| no bear commitments to steady them
| The slump was most severe IN Americans
| simply because they were weak. The bull
| aapOlIpts in those are NOT LARGE
| New York, Feb. 19.-There was a feeling
| of uneasiness over European political sit
uation reflected from all foreign exchanges
| to-day, before the opening of trading on
| New York exchange.
| The collision of British and French au-
thorities in the Niger district of Africa,
and the excited condition of the public
mind in Africa, were the motives for the
heaviness, which in London resulted in a
fall of a in British consols. American Sc
| curites were affected by the general
| heaviness as we'll as by the special consid-
erations growing out of the Cuban situa-
| ton.
| Declines in American reached a point in
| London in number of cases before the
| opening here, and, as a subsequence, sell
| ing orders were placed for London ac-
count at the opening. There was no local
| support for prices. On the contrary, there
was a resumption of liquidation and the
| bears were encouraged to raid the mar
ket. Prices quickly fell, not only to the
| London parity, but below it, The declines
ranging up to 8 points and over invited
| covering by the shorts, and prices hard
ened, but at no time did they fully recover
to yesterdays close. The weakness appar-
| ent in sugar made it the center of a fierce
raid in the final dealings, and it sank "A
points to 1888 the whole list selling off
| to the lowest
There was very determined support for
sugar at and below d29 and the closing
of the market saw a battle royal in prog
ress between the bulls and bears, and the
market consequently closed in a very I'M
settled condition.
Rallies of over a point were made by a
number of stocks besides Sugar, but net
losses were left on an average of over a
| point London selling was a feature of the
day, and the supply of st. Paul from that
source was sufficient 10 meet large de-
mand here and keep the price down.
The rate war in prospect between the
Canadian Pacific and the trans-continent-
al lines in the United States for Klondike
| traffic, was depressing factor, causing a
| decline of points in Canadian Pacific and
| of less amounts in other roads affected.
| Canadian Pacific As were heavily dealt in,
two heavy Individual transactions of par
value of $4,000 and $150,OO0 respectively
| being recorded. One block of 100000 of
Rock Island extension fives also changed
hands.
The weeks development in the Cuban
question effectually unsettled the market
| and preciptated a heavy liquidation of
speculative accounts. Prices of securities
were recognized as discounting to certain
extent future prospects, but confidence in
the future had been sufficiently firm to
prompt the holding of long lines, until
the De LONE incident and the Maine dis
| aster awakened renewed uneasiness. This
uneasiness caused the bulls to abandon
| plans for any present aggressive advance
in prices and caused the liquidation of
numerous holdings of long stock as well as
the throwing on the market of large
amounts of stocks disgorgedly uncoverlng
of lines The bears showed some hesitancy
at times during the week and their haste
to cover at the low level effected a rally
on two days, Tuesday and Thursday, af-
ter the severest decline. There is a dues-
ton as to how far the powerful interests
who Of late have largely controlled the
course of the market, reduced their long
holdings But the situation generally aside
from the Cuban question is recognized as
| a strong one.