The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-06

way, first mortgage IS, 50-year gold bonds.
us bid 119 asked; Central of Georgia Rail-
way first consolidated mortgage 5s, 9l1a bid,
S2ls asked Central of Georgia Railway first
preferred incomes 4215 bid AZ asked: Gem
trail of Georgia Railway second preferred
| incomes, 1S bid, Il asked; Central of
! Georgia Railway, third preferred incomes,
61a bid. ~ asked; Georgia Railroad 6s 1910
1lS bid, 1141a asked Charlotte, Columbia
and Augusta first IS. 10 bid, Ill asked;
Charlotte, Columbia and Augusta second
mortgage Is us bid, 40 asked: Georgia
Southern and Florida new 5s. 1o1 bid l02
asked; South Georgia and Florida first
mort gage rs. 1929 bid 1881 asked; South
Georgia and Florida second mortgage rs.
lOS bid, 105 asked; Ocean Steamship per
cent. bonds, 1926, 1851 bid, 1861 asked; City
& Suburban Railroad first mortgage per
cent. bonds, 81 bid. asked; Alabama
Midland per cent. indorsed, 80 bid 81
asked; Brunswick and Western As, 70 bid,
TIA asked; South Bound Railway 5s, 70 bid,
Y asked; Georgia and Alabama first pre-
ferred IS, 1oS bid, 1Ol asked; Georgia and
Alabama cons. 5s, SO bid "a asked; Eaton
ton Branch, 81 bid S94 asked; Central of
Georgia, Middle Georgia and Atlantic Di-
vision 5s, SS1a bid, S41a asked.
Railroad Stocks-Augusta and Savannah,
93ls bid, 94l9 asked; Georgia common, 1870
bid, 1888 asked Southwestern, SO bid "a
asked; Atlanta and West Point stock 1914
bid, 1872 asked; Atlanta and West Point 6
| per cent. certificates, 101A bid. 1927 asked;
Savannah Construction Company. rs bid,
| rs asked
Gas Stocks-Savannah Gas Light stock,
q bid, "a asked; Electric Light
and Power Company, 70 bid. n asked,
Bank Stocks, Etc.-Citzens Bank ITO
bid, 11O12 asked; Chatham Bank,
As bid. 4S1s asked; Germania Bank, 1oS
bid, 100 asked; National Bank of Savan-
nah, 125 bid, 126 asked; Merchants National
Bank, 81 bid IS asked; Oglethorpe Saw
| ings and Trust Company, 104 bid 1O5
asked; Southern Bank of the State of
Georgia, bid, 1879 asked; Sa-
vannah Bank and Trust Company. 1O2
bid 1929 asked; Chatham Real Estate and
Improvement Company. A. SIS bid, SO
asked; B, 5415 bid, So asked; Peoples Saw
| ings and Loan Company, 9S bid. 80 asked.
Factory Bonds-Augusta Factory 6s 10l
| bid, 102 asked; Enterprise Factory 6s, 100
bid, 101 asked; Eagle and Phoenix Manu-
featuring Company per cent. bonds, -
bid, 40 asked; Sibley Manufacturing Com
| pany 6s, 101 bid, 102 asked.
Factory Stocks-Augusta Factory, so
| bid, So asked; Graniteville Factory, las bid,
Isl asked; Langley Factory, 1O4 bid, 1854
| asked; Enterprise Factory common SO
bid, IS asked ]. r. King Manufacturing
Company, 1O4 bid, 1916 asked; Sibley Manu-
featuring Company, 20 bid, rs asked; Sa-
vannah Brewing Company IS bid, 81 ask
| ed.
| New York Feb. 5.-Money on call was
easy at 115D1A per cent; the last loan was
at ~ per cent. Prime mercantile paper.
| BOA per cent. Sterling exchange steady,
| with actual business In bankers bills at
| 81 .S5Q4. S5l4 for demand and 81 S3GG4 S31s for
| sixty days; posted rates. 81 .SS1alG4. Sc; COM
mercial bills, 81. S2ll4 .S21a. Silver Certifi
| Gates 56lb157izc Bar silver, 667sc. Next
| can dollars 45ssc State bonds were dull.
| Railroad bonds were strong. Government
| bonds were firm
Washington, Feb. 5-To-day's state
ment Of the condition of the treasury
shows:
Available cash balance .......... 1929, 76S. 53S
Gold reserve OBSERVATION-DISCLOSURES. 1874, OBJ IA
New York Feb. 5.-The weekly bank
statement shows the following changes:
| Surplus reserve, decrease, $S27, S25; loans,
increase, 1894, 100; specie increase, 1896, 400;
! legal tender, increase, $1,O12 600; deposits,
| increase, 81, 343, 300; circulation, decrease,
| S76 800. The banks now hold $34,0Sl, 625 in
| excess of the requirements of the % per
| cent. rule.
New York, Feb. 5.--To-day's stock mar
ket was lifted to a higher level by the
| conspicuous strength of comparatively few
| stocks. 1t was noteworthy that the Van
| derbilts, which gave the initial impetus to
Yesterdays advance, showed the effects to-
day of profit taking. Lake Shore losing
points and New York Central a small frac-
| ton Michigan Central, after bounding
| upward at the opening, reacted over
| point, but closed with substantial gain.
The far-reaching Importance of the
| merging of the New York Central and
Lake Shore and the prospects of additions
to the plan continued to have a marked
| sentimental effect in the whole market.
| The possibilities in the way of reduced eX-
penditures for administration and stabil-
| ity of rates for traffic from consolidation
are canvassed with eager attention by
! dealers in securities
Pennsylvania was conspicuously affect
! ed and the long-sustained advance in the
stock of its subsidiary company Pittsburg,
| Cincinnati, Chicago and st. Louis, is
pointed to as evidence of closer relations
| to come Burlington rose strongly, on ru-
mors of the ripening of the refunding plan
and pending increase in the dividend
rate.
General Electric, Lake Erie and Western
preferred, and Lackawanna, were mark
edly strong, and Norfolk and Western pre-
ferred continued its upward movement.
There was a reactionary tendency in the
Lake Erie and Susquehanna and Western
stocks on realizing. The recent advance
is accounted for by well defined reports OF
a plan for changing the Susquehanna
stocks TO ran undermined percentage of
Erie stocks Great Northern sold at
further decline of 1@2 points and was bid
down still further, the various reports of
plans Tor increased capitalization ana us
tribution of the companys accumulated
resources being so conflicting as to lead TO
the conviction that no plan has yet been
| formed.
Although business was on large scale
and widely distributed, the fluctuations in
price were exceedingly narrow outside of
special cases, the most important of which
have been indicated.
The heavy increase of over $11 900 in
deposits of clearing house banks for the
week. marks the continued flow of funds
to this center and the withdrawal of gov
eminent deposits must be allowed for add
| ing and estimating the movement. The
| expansion of nearly $8000,000 in loans,
though heavy, falls far short of absorbing
the total Of increased deposits.
The activity in the stock market I'M
doubtedly involved a large amount of Dor
rowed money, and It is probable that 9TH
err speculative markets have drawn on
this center for funds during the week
There is rather a good supply of attrac-
tive names in the commercial paper mar
ket. Under the circumstances the decrease
in the surplus reserve is disregarded in
the stock market as being simply the re-
suit of the failure of cash reserves TO keep
pace with the rise in the legal reserve
level The cheapness of money has led