The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-05-22

SI4 asked; Central of Georgia. Middle
Georgia and Atlantic division 5s, rs bid, so
| asked.
Railroad Stocks-Augusta and Savan-
nah, 80 bid IS asked; Southwestern, 90
bid, IS asked; Atlanta and West Point
stock, 104 bid 10412 asked: Atlanta and
| West Point per cent. certificates. I0S bid
l04 asked; Georgia common, It's bid, $50
| asked; Savannah Construction Company,
65 bid, 90 asked.
Gas stocks-Savannah Gas Light stock.
| 2ll5 bid 2215 asked; Electric Light aud
| Power Company. 70 bid, 741a asked
Bank Stocks, Etc-Citizens Bank. 1885, bid,
! 1lCls asked; Chatham Bank, 46I5 bid, Az
asked; Germana Bank, 1O91a bid, Ill asked;
| National Bank of Savannah, l25 bid. 126
asked; Merchants National Bank, ssh bid.
| S11a asked; Oglethorpe Savings and Trust
| Company, los bid, LOG asked; Southern
| Bank of the State of Georgia, $50 bid 1875
asked; Savannah Bank and Trust Compa-
ny, 102l5 bid, 1882 asked; Chatham Real
| Estate and Improvement Company, A, 5iA
bid, 55A asked; B, 81 bid, So asked; Peo-
pies Savings and Loan Company, IS bid,
IS asked.
Factory Bonds-Augusta Factory, 10l
bid, 102 asked; Eagle and Phoenix Manu-
| featuring Company, per cent. bonds, 80
bid, 40 asked Sibley Manufacturing Com
| pany, IS. 100 bid, 102 asked.
Factory Stocks-Augusta Factory, So
bid, 70 asked Graniteville Factory. 145
| bid, B1 asked; Langley Factory 101 bid,
| l0i asked; Enterprise Factory, common,
SO bid. SO asked; ]. r. King MANUFACTURE
ing Company, 104 bid, 1O5 asked; Sibley
| Manufacturing Company, 70 bid, 76 asked:
| Savannah Brewing Company 80 bid, 90
asked
New York, May 21.-Money on call was
nominal at IA per cent. Prime mercan-
tile paper, 415Q51a per cent. Sterling ex-
! Hhqnoa b1tst in
| bankers bills at $4.S614 .S6l5 for demand,
| and &SSAq4S51a for sixty days. Posted
| rates, 4. Sfli4.S7. Commercial bills, $4.S2D
4.S21S Silver certificates. 57asG5Sc Bar
| silver Size. Mexican dollars, 454c. State
bonds were DUH Railroad bonds were
steady. Government bonds were steady.
New York May M.-The weekly bank
| statement shows the following changes:
| Surplus reserve. increase, $S71S,O25; loans,
| increase, $1S57S0O; specie, increase, 5000
/ 800; legal tenders. increase, s., so, 500; de-
| posits, increase, $14, 267, 800; circulation, in
crease, S51, 900. The banks now hold $50,
| 715250, in excess of the requirements of
the Is per cent. rule.
| New York, May H.-The Evening Posts
London financial cablegram says: 1.-THE
| stock markets here were idle to-day, but
firm. Spanish As have risen l point. Ar
| gentines were good and kaffirs were bet
ter. Americans were lifeless. Grand
| Trunk was strong. Brazils stocks have
risen sharply here. I learn from an I'M
doubted source that the Brazilian Presi-
| dent-elect, who is in this country, is ne
! gotiating with the Rothschilds a scheme
for reconstructing Brazilian finances. I
have reason to believe that the loans will
be made on customs duties, to be paid in
bonds for three years, similat to the meth
cd employed by Argentina
New York May H.-Dealings were not
| large nor important on the stock exchange
| to-day. Operators, almost without excep>
| tion maintained their attitude of waiting
for the situation in West Indian waters to
| clear itself. The report that the Spanish
! fleet had come into Santiago and had sue
ceede in getting away again was not gen.
orally credited, coming, as 1t did, from
| Spanish sources. But it exercised some
depressing effect, nevertheless. 1t was
! probably the cause of the decline in the
prices after the opening. rise.
| The rise in Spanish As in London and
Paris showed that it was not without Its
effect also in foreign markets. There was
| selling for London which kept up a de-
pressed tone in some of the internationals.
! Prices rose a fraction above last nights
| close, and in some cases a point or more.
A feature of the trading again was the
isolated movement of obscure and dormant
! stocks. The closing was strong at top
| prices.
The stock market has not moved wide
ly during the week and it has become evil
dent that operators regard the present
! level of prices as fixing a fair equilibrium
! between the conflicting factors in the out
| look. On the one side is the choice of
naval reverse. This is considered remote.
| But 1t Is conceded that in Wall street
more weight attaches to this possibility
than was the case a week ago. AS it is,
4 -.
| Changers naturally leading, owing to the
extraordinary movement of grain There
were numerous indications of a strong in
dustrial and financial outlook, which is
coming to have more and more influence,
in spite of the incubus of the war.
Railroad earnings show striking in
| creases not only over last year, but over
previous years, and in some cases all rec
ords are broken for this season of the
year.
There is an increase also In the bank
clearings of the country, which showed a
notable contraction after the sinking of
the Maine in Havana harbor, but which
have again risen well over the average
of 1892, the previous high level.
With a favorable trade balance of $514.-
900 for ten months Of the fiscal year
against the best previous record of less
than $500, 100000 for a full year, there Is no
room left for timid apprehension about
the country's future money resources.
The weekly bank statement does not in
dictate that money is being very largely
diverted into active channels of usefulness
Deposits have been piled up $14267, 900. in
spite Of large Withdrawals from the mar
ket for government account, while loans
have only been expanded a little more
than half as much. A large allowance
also must be made for loans made on ster-
ling exchange as collateral, which repre-
sents, in effect, loans made in foreign
markets. This operation has been carried
on to a large extent during the week
Notwithstanding an increase in reserve re-
quirements of over S3,5OO0O0, the surplus
is, therefore, increased by $3,71S,025 The
demand was. however, largely confined to
the more speculative issues.
Prices are quite generally higher and
have held steady, even through the reac-
tons which occurred in the stock market.
United States new As declined q, the old
As registered Y and the IS a in the bid
price.
Total sales of stocks to-day were 100 400
shares, including Rock Island, 1O.72O: ST.
Paul. 6,2S0; Wheeling and Lake Eric 1 oto