The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-13
FINANCIAL.
Monev-Market steady.

Foreign Exchange-The market is
steady. The following are the net Savan-
nah quotations: Commercial demand
$4S5; sixty days, $4.S4; ninety days
S4S514; francs, Paris and Havre, sixty
days, 5.219s; Swiss, sixty days, 5.241a;
marks sixty days, 941a
Domestic Exchange-Steady; banks are
buying at 1-16 per cent. discount and sell
ing as follows: Up to $25, 1Oc premium;
$25 to $50 15c premium; $50 to $1OO. zoe
premium $500 TO 81 900. 65c premium; 81 900
and over, 1-16 per cent. premium.
Securties-The market is steady, but not
much doing
Stocks and Bonds-State Bonds-Geor-
gia 312 per cent. bonds of 1880, 1O7 bid, 1851
asked; Georgia 315 per cent, due 1915, 1O5
bid, 107 asked; Georgia AZ per cent. bonds.
1915, lis bid, III asked; Georgia 4 per
cent. due 1920 no bid Iii asked; South
Carolina AIS, 100 bid, liz asked.
City Bonds-Atlanta per cent, 102 bid
- asked; Augusta 412s 1925, 1O5 bid, LOG
asked; Augusta 7 per cent, ITO bid, iii
asked Augusta per cent, liz bid, 113
asked Columbus per cent. 1881 bid. 1O41h
asked; Macon per cent 115 bid, 116 ask
ed; Macon 41as, 1926, 1O3 bid 1O4 asked:
Savannah per cent, quarterly October
coupons, III bid, 1111A asked; Savannah <
per cent. quarterly August coupons. III
bid, 11112 asked; Charleston As, 951a bid 96lb
asked.
Il.
Western Railroad general mortgage bonds.
6 per cent. interest coupons, lie bid, III
asked; Savannah, Florida and Western
first mortgage 8 per cent. gold bonds, due
1924 1912 bid, 1861 asked; Central Railroad
and Banking Company collateral 5s, 81
bid, SO asked; Central of Georgia Rail
road first mortgage 5s, 50-year gold bonds.
115$4 bid, III asked Central OF Georgia Rail-
way first consolidated mortgage 5s, So bid
SO asked; Central of Georgia Railway
first preferred incomes, 3S12 bid, 1872 asked;
Central of Georgia Railway second
preferred incomes, 10 bid, IA asked;
Central of Georgia Railway third
preferred incomes, bid 61k asked;
Georgia Railroad 6s, 1910, 113 bid, ia asked;
Charlotte, Columbia and Augusta first IS,
1O7 bid, 1OS asked; Charlotte Columbia and
Augusta second mortgage rs, lis bid 116
asked; Georgia Southern and Florida new
IS, 1O3 bid, 104 asked; South Georgia and
Florida first mortgage Is, 1922 bid, 1921
asked; South Georgia and Florida second
mortgage Is, 102 bid, 1872 asked Ocean
Steamship per cent. bonds, 1926 103 bid
104 asked; City and Suburban Railroad
first mortgage 6 per cent. bonds, 101 bid 1903
asked Alabama Midland per cent in
dorsed, 50 bid, 88 asked; Brunswick ard
Western As, Y bid, Is asked; South
Bound Railway IS, IS bid Y asked; Geor-
gia and Alabama first preferred 5s, 103 bid
104 asked; Georgia and Alabama cons S.
80 bid, 81 asked; Eatonton branch 80 bid
s. asked; Central of Georgia, Middle
Georgia and Atlantic division IS, n BID.
80 asked
Railroad stocks-Augusta and savan-
nah, 81 bid, IS asked ex-diy.:
Southwestern, "a bid, 50 asked, ex.
div; Atlanta and West Point
stock, 103 bid, 1O4 asked; ex-div. Atlanta
and West Point per cent certificates, 101h
bad, 103 asked ex-interest; Georgia com
IL
struction Company, SO bid 70 asked
Gas Stocks-Savannah Gas Light stock,
23A bid, "a asked; Electric Light and
Power Company, 70 bid, 711s asked, ex-
div.
Bank Stocks, Etc.-Citizens Bank. 1O9h
bid, 11015 asked eX-div. Chatham Bank,
451a bid 46 asked, eX-div; Germania Bank.
110Ib bid, 1l2 asked, ex-div.; National Bank
of Savannah, 1A bio, 126 asked ;ex-div; Mer-
chants National Bank, SO bid, SAY asked,
ex-div.; Oglethorpe Savings and Trust Co.,
1903 bid 104 asked, eX-div. Southern Bank
of the State of Georgia, 1881 bid, 100 asked,
ex-div.; Savannah Bank and Trust Com
pany, 1917 bid, 1929 asked, ex-div ;Chatham
Real Estate and Improvement Company,
A, So bid, 551a asked; b. "a bid, 54s4 asked,
ex-div.; Peoples Savings and Loan Com
pany, SO bid 50 asked.
Factory Bonds-Augusta Factory. 1O1
bid. 1902 asked; Sibiey Manufacturing Com
pany, 6s 100 bid, 102 asked.
Factory Stocks.-Augusta Factory, 6S
bid, rs asked; Graniteville Factory, 145
bid 151 asked; Langley Factory, 100 bid,
1O1 asked; Enterprise Factory common,
80 bid, 81 asked; ]. r. King Manufacturing
COMPANY 100 bid, 101 asked; Sibley
Manufacturing Company, 70 bid, rs asked;
Savannah Brewing Company, SO bid, 9S
asked.
New York July 12-Money on call was
steady at 1A@112 per cent; the last loan
was at ~ per cent. Prime mercantile pa
per. 31b04 per cent. Sterling exchange
steady, with actual business In bankers
bills at $4S52404S6 for demand, and at
S4S41kM4. S434 for 60 days. Posted rates,
$4S5d4S512 and a.S61ad4&. CONNER
ciaI bills. 1851 Silver certificates $4,000.
Bar silver. 59lsc. Mexican dollars 45lac.
Government bonds were steady.
New York. July 12-There was a nota-
bic disparity again to-day in the activity
of the bond and stock market, the vol
ume of transactions in the bond market
continuing on a very large scale, while
the stock market was duh throughout.
The declines were most conspicuous in
the stocks which were advanced under
manipulation last week, notably Omaha
and Northwest.
There is an effort to explain the diver
sion Of speculative activity from the stock
market into the bond market on the
ground that the new revenue law pro-
vdes no tax in the sale of bonds al
though stock sales are taxed at the rate Of
81 per hundred shares. This almost in
hnitesimal tax. does in fact loom large
in the eyes of the professional traders,
who buy and sell stocks for a small frac-
tional turn on~the floor Of the exchange.
A large proportion Of the dealings to-day
was IN the class of bonds, variously des-
ignated as income and adjustment bonds.
There was also an active demand for
newly issued bonds Of reorganized COM
panies, which are still held in large