The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-27


Georgia Railroad 6s. 1910. ia bid. lis asked;
Charlotte Columbia and Augusta first IS.
no bid, III asked; Charlotte, Columbia and
Augusta second mortgage Is, lis bid. 1lS
asked; Georgia Southern and Florida new
5s, 1912 bid, 1908 asked South Georgia and
Florida first mortgage Is. 1929 bid. 1885,
asked; South Georgia and Florida second
mortgage Is, los bid, los asked; Ocean
steamship per cent. bonds. 1926, 105 bid,
100 asked; City and Suburban Railroad
first mortgage Z per cent. bonds, 81 bid, -
asked; Alabama Midland per cent. in
dorsed. Sc bid/.sO asked; Brunswick and
Western As, rs bid, 77ls asked; South
Bound Railway IS, 74la bid. 751a asked;
Georgia and Alabama first preferred 5s,
lOS bid, l04 asked; Georgia and Alabama
cons. IS, IS bid, SO asked; Eatonton
Branch, 81 bid, S9A asked; Central of
Georgia, Middle Georgia and Atlantic Di-
vision 5s 50 bid, S21a asked.
railroad Stocks-Augusta and Savannah,
| "a Bio, % asked; Georgia, common, l75 bid,
$50 asked; Southwestern, 9SlA bid 9pl
asked Atlanta and West Point stock, 1917
bid los asked; Atlanta and West Point
per cent. certificates, 10lA bid, l03 asked;
savannah Construction Company, bid,
Sl1a asked.
Gas Stocks-Savanuah Gas Light stock.
2 bid, % asked; Electric Light and Power
Company, rs bid, n asked
BANK Stocks, Etc.-Citizens Bank, 1O9si
DID. HOG asked; Chatham Bank.
~ bid, 40 asked Germania Bank, los
bid, 109 asked; National Bank of Savan-
nah, 125 bid, 126 asked; Merchants National
Bank, 81 bid S7l5 asked; Oglethorpe Saw
ings and Trust Company, 105 bid, 1O6
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, Sc
aslvp -
| ines and Loan Company, 9S bid 80 asked.
| Factory Bonds-Augusta Factory, 50
| bid, "a asked; Graniteville Factory, AS bid,
| $50 asked; Eagle and Phoenix Manu-
| featuring Company, per cent. bonds, -
bid, 40 asked; Sibley Manufacturing Com
pany IS, 101 bid 102 asked.
| Factory Stocks-Augusta Factory, Sc
| bid, SO asked Granitcville Factory las bid,
| l51 asked; Langley Factory, 104 bid, 1854
asked; Enterprise Factory, common. 90
| bid, Sc asked; j. r. King Manufacturing
! Company, 104 bid. los asked; Sibley Manu-
| featuring Company. 20 bid, &c asked Sa-
vannah Brewing Company, So bid, 81 ask
ed.
New York, Feb. 26-Money on call was
steady at 2 per cent; the last loan was at
. per cent Prime mercantile paper 304
! per cent. Sterling exchange, firm, with
actual business in bankers bills at $4,ShAd
4S4ss for demand, and at $4S1& for sixty
days; posted rates, $4S31a and $4S5l2G4S6
Commercial bills, $4,S1G4S11a. Silver GER
tiflcates, 5S2sG56ssc. Bar silver, 5Sl4c. Mex
| lean dollars, 45i4c. State bonds were quiet;
railroad bonds were steady; government
bonds were irregular.
| New York Feb. 26-The weekly bank
statement shows the following changes;
| Surplus reserve, decrease, 50. 729, 125; loans,
decreased S. 036, 500; specie, increase 81 325, =
100; legal tenders, decrease, $7,4S,400; de
posts, decrease, 49, 800; circulation, de-
crease, $50, 400. The banks now hold $22,-
$50 325 in excess of the requirement of the
| % per cent rule.
New York, Feb. 26.-The Evening Posts
London financial cablegram says: THE
stock markets here were again better to-
| day, but still unsettled. Americans were
bought less confidently to-day. Money
| rates have hardened on the further fall
in New York exchange and the continued
American demand for gold, which raised
the price of bars to It's 934d. Two stock
exchange failure were announced to-day.
operators in Grand Trunks and West
| Australian mines"
New York, Feb. 26.-The stock market
was listlesS and without decided tone to-
day. The net changes were trivial in most
cases and the market moved up and down
| within a narrow range.
London buying gave a slight upward i'm
ing by yesterdays buyers drove prices be-
low last nights level.
| The close was above the lowest, but net
| changes were much mixed. The course of
| prices was unsettled and conflicting in. the
final dealing of some stocks, moving up
wards and others downward, simultan-
eously, and apparently without manipula-
ton. The whole of the trading was by
small room traders and large operators
| xzrAra annarant1W IN stand nv
| the present and watch the course of things.
| Some few stocks were notably firm all
day, such as Rock Island and Erie issues,
Northern Pacific preferred, and some of
the Southern and Southwestern roads.
| Canadian Pacific also ruled higher.
The bank statement was without partic-
ular effect as the conditions disclosed had
made themselves felt during the week
The heavy decrease in loans indicate IL
quotation on the Stock Exchange, but prob
ably does not fully measure it as the loans
which have been called have been in part
replaced in time loans and commercial pa
per.
Prices of standard stocks are l to {
| points lower than a week ago, declines in
the speculative bond issues are 1 to PEI
cent. Government bonds are 70 to 49, pei
cent. lower. Call money rates have risen
from ~ to per cent, and Sterling ex-
| change has fallen to the gold import point
with s.. 10000 engaged for shipment or or
passage. This, in brief, Represents the
! changes in the financial situation from
last Saturday.
Prices of stocks are considerably above
the low point of Thursday morning, wher
the downward plunge took on panic condi-
lions for a time. The weeks drastic lqui.
dalton in the stock market was forced by
the marking up of call loans. Coming or
a market poorly supported by threatening
| outlook of the Cuban question and with
many orders to sell cut long stocks, these
offerings precipitated decline that wiped
| out all margins and brought a torrent Of
stock on an already weak market.
From a technical standpoint the stiffen
ing of money rates precipitated the de
| cline. The higher money rates were il
turn due to Withdrawals of currency from
New York banks for shipment to interior
| Competent expert authorities differ as t,
whether this movement Of money to tn,
interior is to be attributed to the prepara
ton for the regular spring settlement anC
is thus 10 meet regular business demands
or whether it is a cautious safeguard tax
en- by interior banks against a possibl.
need growing out of present complicat ion
| over Cuba.
AS against the latter view IL js To =,