The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-06-07

Dld, no asked; Bibb Manufacturing Com
pany. 10S bid 1851 asked
Factory Stocks-Augusta Factory, IS
bid, 80 asked; Graniteville Factory. $50
bid. los asked; Langley Factory, 81 bid,
lOlls asked; Enterprise Factory, common,
80 bid, 80 asked j. r. King Manufacturing
Company, bid, 101 asked; Sibley Manu-
featuring Company. 6S bid 7S asked; Sa
Vannah Brewing Company, 1914 bid, 1915
asked.
New York. June 6.-Mouey on can was
steady 2@2h per cent, the last loan was
offered at per cent. Prime mercantile pa
per 3A04 per cent. Sterling exchange firm.
with actual business in bankers bills at
81 IS for demand, and "a $3.50 IS for sixty
days. Posted rates 81. S6lka4.S7 aud 81 80
Commercial bills. "a. Si14@4.Sll2 Silver GER
titicales, 6lGG2c. Bar silver, 60l4c. Mexican
dollars, 4Sl4c. Government bonds were
strong State bonds were inactive. Rail
road bonds were irregular
New York, June 6.-Business was on
far too small a scale on the Stock EX-
change to warrant any very wen defined
conclusion as 10 the general temper Of
speculation or a just reflection Of bust
ness and financial conditions. But there
is a very notable hardening of values in
railroad securities which was followed up
as the day progressed by a rise In prices
which embraced pretty much all railroad
stocks dealt in.
This strength started in Louisville
which was very confidently bought for
London account The bidding up of the
price in this stock, in the course of exc
cutting buying orders impaired strength to
the whole railroad group, Southern Rail
way preferred and Norfolk and Western
preferred being the FIRST to respond, and
the Changers. Pacific, Southwesterns and
Of ba f,lfn fpo
this lead. Pennsylvania and Pttsburg,
Chicago, Cleveland Cincinnati and St
Louis rose from 1la to 81, the latter stock,
however losing all but one-haf of the
advance.
The motive assigned by the buyers was
the possibility that a more liberal policy
toward stockholders and less insstence
upon reinvestment of resources In equip
meut might follow the change in admin
istration made necessary by President
Thomsons death. But the trading for the
most part was profoundly apatheuc. and
there were minutes az time when no
tape came from the ticker.
The attention of professional traders
was all conferred on Sugar aud utterly
erratic movements Of this stock disclosed
The entire uncertainty regarding to-mor-
rows dividend action. Advocates of the
regular dividend and Of a reduction seem
ed equally confident and equally numer-
Gus, SO that The stock dipped deeply be-
low last nights level and rebounded far
above u. The extreme range was 4A
points, and the close was at a net gain
of l&i and within half of the top.
An incident of the trading to-day were
some large wagers on the one hand that
to-morrows Sugar dividend declaration
would he at the regular rate and offers
on the other hand 20 sell the dividend on
large amounts Of stock for less than the
regular rate. The same distrustful atti-
tude is maintained towards the iron and
steel stocks, Notwithstanding semi-official
,nhmatons az to the rate of coming divi-
Gend declarations and informal assurances
that current earnings are far in excess
Of he proposed dividend disbursement.
Even the preferred stocks of Industri-
ais. however regular may have been their
dividend records, continue far below the
prices of ordinary dividend paying rail-
road stocks which make The same returns
on money invested This distrust Of in
dustrials seems to be the most important
element ia the present dulness and heavi-
ness Of the market.
A further small shipment Of gold to-day
was as wholly without influence in The
stock market as well as in the foreign
exchange market, as those that have pre-
coded il from the same institution. The
conviction is general that the outflow is
the result Of special conditions and not
Of the general exchange situation.
The bond market was dun and generally
firm. though there were a few yielding
spots Total sales par value $22100OO
United States old As, registered, and the
SIS advanced * in the bid price.
The total sales OF stocks were 292. coo
Shares, including: Atchson preferred, 20. =
SO; Burlington, 1880 Louisville and
Nashville, 1880; Manhattan GS70: Mssou-
ri Pacific, LAS; Northern Pacific, s. 400;
Union Pacific, $3.50; st. Paul, $3.50; South
ern Railway preferred, $780, American
Steel, 25.945; Federal Steel 1850; Peoples
Gas, 1850; Consolidated Gas, 5,270; Cont
mental Tobacco. $3.50; Brooklyn Rapid
Transit 2l1s0; Sugar, Al, 400; Tennessee
Coal and Iron, Sl75.
New York Closing Stocks
AtchisOn . 173t st l.. e. w 1891