The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-04-02


1O4 asked; Georgia common. 900 bid,
07 asked; Georgia and Alabama stock,
35 bid, SO asked.
Gas Stocks-SaVannah Gas Light stock.
q bid, asked.
Bank Stocks, Etc.-Citizens Bank 1171s
bid, 1lSl2 asked Chatham Bank, 1O4 bid,
1O5 asked; Germania Bank, lie bid,
asked National Bank of Savannah, l2S
bid, - asked, Merchants National Bank
of Savannah, 80 bid, 92 asked Oglethorpe
Savings and Trust Company, 1O7 bid
asked; Southern Bank of the State of
Georgia. 1913 bid. 100 asked; Savannah
Bank and Trust Company, 10 bid. Ill ask
ed; Chatham Real Estate and Improve
menI Company, A, 56 bid, 81 asked; B, 55A
bid, 56l4 asked; Peoples Savings and Loan
Company, "a bid, 80 asked.
Factory Bonds-Augusta Factory, 1Ol
bid, lO2 asked Sibfey Manufacturing Com
pany IS, 102 bid, 103 asked; Eagle and Phe-
nix Mills, per cent. bonds, due 1923, 1912
bid, 10S asked Bibb Manufacturing Com
pany, 1903 bid, 1O51a asked.
Factory Stocks-Augusta Factory, So
bid, 50 asked; Graniteville Factory, 100
bid, 155 asked; Langley Factory, 81 bid,
iOl12 asked; Enterprise Factory, common,
80 bid, 80 asked; ]. R. King Manufacturing
! Company, 81 bid, 10l asked; Sibley Manu-
factuVhg Company IS bid, 70 asked ;Savan-
nah Brewing Company, 1O4 bid 1O5 asked
New York, April Money on call was
firm, sac per cent. the last loan was at
5 per cent Prime mercantile paper, sac
AZ per cent. Sterling exchange weak,
with actual business in bankers bills at
81 S6AQ4S612 for demand, and at $4.S440
4.S419 for sixty days; posted rates. $4.S41a@
4.S5l2 and $4.S612Q4S71a; commercial bills,
| 81. S3l2d4 "a; silver certificates, 606601Rc.
Bar silver, $3.50; Mexican dollars, 4715c.
Stale bonds were weak; railroad bonds
were irregular; government bonds were
weak.
New York, April 1.-The weekly bank
statement shows the following changes:
/ Surplus reserve decreased So 062, SIS; loans
/ increased $469, 800; specie decreased s., u.s.
! 200; legal tenders decreased, SIT, 500; de-
posts decreased s., 1888, 700; circulation IN
! creased $4,000. The banks now hold $15,-
494, $50 in excess of the requirements of
| the Is per cent. rule.
! New York April MANY advances
/ recorded in the stock market to-day on
very large dealings for the two hours.
nearly two-thirds of a million shares
! changing hands.
The Easter holidays in England rendered
London no factor here, but the accumu-
lation of a very large volume of purchas-
! ing orders over the Good Friday holiday
! brought forth much higher quotations at
| the opening Subsequently heavy realiz-
]
with the appearance of the bank state.
ment, which the speculative element
viewed as more favorable than expected
there was a material rally, and the final
prices were at or near the best.
The dealings were much Influenced by
the buoyancy of Manhattan which made
an extreme gain of Is points, 8 of which
it held.
Shorts in Manhattan covered large lines
! that had been put out in expectation that
the new issue of stock would depress
/ the prices. AS they sought to cover the
| figures were marked up with the resultant
extreme rise.
! The announcement that per cent. divi-
dend per annum had been decided upon
for Federal Steel, with the first quarter
/ ly dividend payable in July, brought forth
enormous purchases and a very wide
opening, the extreme rise being over 6
points.
Discrimination was exercised against
some of the highly manipuative special
ties, and when they were taken as col
lateral the highest money rates prevail
ing were charged. The money scarcity
was due to a variety of causes. among
them being the gradual increase of gov
| eminent receipts over disbursements, the
necessary accumula tons for April divi-
dend and interest requirement (amounting
to nearly 100000 exclusive of govern
| ment interest payments), the financing of
the Industrial trusts, and, moreover, some
| $S500,0O0 was taken from the market in
connection with the Chicago and Alton
DEAL the Manhattan issue of stock and
| the Baltimore and Ohio Southwestern re-
organization. These operations were part
! ly reflected in a decrease of 81, 900 goo in
the banks cash holdings.
The Strength in sterling exchange may
have been connected with April d.sburse-
ments for foreign account or may have
| been due to preparations for forwardine
the Philippine indemnity of 800 co.,
900. Except for a spasmodic burst Of
strength the railways were neglected and
interest centered in the speciaties. The
dealings averaged over a million shares
daily. but on several days a few of the
specialties monopolized more than half of
the dealings.
The bond market generally exhibited a
good tone. with active liens showing the
most strength In the movement
United States old As registered advanc-
ed Il in the bid price.
The total shares of stocks were $4,000
shares, including 26,3 $40 Atchison preferred,
117l0 Burlington, 1885 Manhattan 600
Missouri Pacific, 1880 New York Central
$500 Union Pacific. 200 do preferred 7.735
st. Paul, 21.275 American Steel and Wire.
SIPS American Tobacco 1,1S0 Federal
steel Zo'ooV 40 preferred, ZZ,O0O People 8
Gas, 405O5 Brooklyn Rapid Transit, $685.
Continental Tobacco, 17O15 Sugar.
New York Closing Stocks.
Atchison ....... 261a' st. L. & S. W. 12Ihl
do pref ....... So do do pref .... "a /
| b. & Ohio...... u st. Pau ........1 2S1bl
Can. Pacific .. 81 do pref ...... .17O15l
Can. South ..... SO st. P. & O....... 96I
| Cen. Pacific -. STA do do pref 40
c. & Ohio ...... PEAS. Pacific ..... 342l
c. & Alton ....173sI So. Railway go. 1914
Chi, B. e. @ ...144BI do do pref .... SIS
Chi. & E. M. 73l2 T. & Pacific -. %
do do pref LIB U. Pacific ...... 49,