The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-11-06

tile. si4G4h per. cent Sterling exchange
steady, with actual business in bankers
bills al $LS554 ASS for demand, and S4.S2s4
IA. 50 for sixty days. Posted rates, $4.SSla
and 4.S7. Commercial bins, $4.S1S. Silver
certificates, 6llsQGl&c. Bar silver, 6lse
Mexican dollars, 471zc. Government bonds
firm. State bonds firm. Railroad bonds
strong
New York. Nov. 1.-THE weekly bank
statement shows the following changes;
Surplus reserve, decreased, $106S, 500; loans,
increased, $l1, 612, 800; specie, decreased, 49,
700; legal tenders, decreased. 81 ,272,5O
deposits, increased, 1888 200; circulation,
increased, S95, 500. The banks now hold $ls,-
92SOjO an excess of the requirements of
the % per cent. rule
New York, Nov. 5.-The market was dull
and sluggish throughout the short session,
but with an undeniably firm undertone,
closing at best prices, with no disposition
TO take profits after the two days rise,
such as might commonly be anticipated at
the end of a week given over largely to
professional trading. The market, in fact,
resisted an attempt to reduce prices after
the appearance of the bank statement, the
attack centering on local securities, but
the market generally continued upward to
the close. No effect was produced by the
action of the Spanish peace commission
ers, in refusing the American proposition
for the disposition of the Philippines. The
speculative mind was almost prepared for
a rupture of negotiations. The reassurlng
words uttered last night by the British
prime minister, and the semi-official state
ment from Paris served TO clear up appre-
hension of foreign complications The Varl-
Gus weekly trade reports were, on the
whole, encouraging as to the business out
look, and there were strong statements of
railroad earnings from (lrppOD Short Line
ST. Louis and San Francisco Flint and
Pere Marquette, Louisville and Nashville
and other roads. The demand for bonds
continued very large and well distributed.
There were very heavy individual blocks
of the Baltimore and Ohio Sl5s when is
sued, the Atchison and Union Pacific As.
The bank statement showed a rather I'M
expectedly large decrease in cash, but the
fact that credits have been extended $1,
6l2,500 in face of a decline of over $780,
900 In surplus reserve is convincing evil
dence of the confidence felt in the money
market outlook. Since Oct. s, loans have
expanded $42, 465,0O0, while cash has in
creased only $14, S49, 500. AS a consequence
the surplus reserve is but $279,450 higher
than 1t was month ago. large proper
tion of the loan expansion, of course, rep
resents money lent abroad. The recovery
in stocks during the latter part of the
HCSh AAAdASdtSS tAidt Aile SSAAilS SeAAS III tiiS
week did not extend outside professional
limits, and for short account. A dull and
waiting market is almost sure to invite
this class of professional operators.
The railroad market has shown greater
activity and strength during the week,
many issues selling at the high record
prices. The reorganization issues, espe-
cially the per cents, have been favorites.
United States old As coupon and the 5s
coupon ex-interest have advanced "A, and
the old As registered u in the bid price.
The total sales of stock were III, 200 shares,
including st. Paul, 1925; American Tobac-
co, 24,900; Bay State Gas, $40; Sugar, 49,
1872