The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-23


asked; National Bank of Savannah, l29
bid, - asked; Merchants National Bank of
Savannah, 94h bid SO asked Oglethorpe
Savings and Trust Company, 107 bid los
asked: Southern Bank of the State Of
Georgia, 1872 bid, 1888 asked; Savannah
Bank and Trust Company. Ill bid, 112 ask
ed; Chatham Real Estate and Improve
ment Company, A, 56la bid, 81 asked; b.
55A bid, Sc asked; Peoples Savings and
Loan Company, "a bid, IS asked
Factory Bonds-Augusta Factory, 1Ol
bid, 1902 asked; Sib.ey Manufacturing Com
rany IS, 102 bid, 1O5 asked; Eagle and Phe-
nix Mills, per cent bonds, due 1928, 1903
bid, 105 asked; Bibb Manufacturing Com
pany, 1903 bid 1861 asked.
Factory Stocks-Augusta Factory, IS
bid, SO asked; Graniteville Factory, l50
bid, 155 asked; Langley Factory 81 bid
lOlls asked; Enterprise Factory, common.
so bid, 80 asked; j. r. King Manufacturing
Company, 81 bid, 101 asked; Sibley Manu-
featuring Company, 6S bid, 70 asked So
vannah Brewing Company, 1N bid 1875
asked.
New York, May 22.-Money on call was
steady at S@4 per cent the last loan was
at per cent; prime mercantile paper, SiR
Qt4A per cent. Sterling exchange firm
with actua, business in bankers bills, at
S4.S9s@4S7si for demand, and at $iS5I5GI
1854 for sixty days; posted rates. $AS61s
and $4.SS12 commercial bills, $LS5Q4S5A
Silver certificates 6lhq6g&c; bar silver,
61lsc; Mexican dollars, 4SI5c. Government
bonds steady; state bonds inactive; rail-
road bonds irregular
New York, May 22.-The market drlft-
ed downward almost uninterruptedy to-
day until the aggressive upward movement
in Sugar developed late in the day. This
seemed to affect the whole list by sympa-
thy and prices retraced their earlier
downward course. They only recovered
to Saturdays level, however. in a few
cases. Losses on the day are general
but are within point in most of the
railroads and prominent stocks There
was no real support to the market al any
time, the outside interest in securities be-
ing about nil. Neither was there any
serious pressure of liquidation. The re-
suit was duh and apathetic market. with
the bears nibbling here and there to de-
velop weak points in the list. They were
not aggressive in their tactics, and did not
dislodge any large amount of stocks, The
market becoming practically stagnant
whenever this short selling was dessled
from The dropping tendency of prices
was nevertheless very marked, and was
assisted by positive weakness at a few
points.
franchises within the state of New York
were espec ally weak on the assembling
of a special session of the legislature to
act on the franchise tax bill Metropoll-
tan, Manhattan, Consolidated Gas and
Brooklyn Transit all showed conspicuous
declines extending from to 4 points and
over in the case of all but Manhattan.
Third Avenue was a conspicuous excep-
ton to the group and rose points on a
proposed new stock issue
These stocks drifted during the day on
political gossip regarding the franchise tax
bin and all showed notable rallies. the
net losses being small except In the case
of Brooklyn Transit and Consolidated Gas,
which closed points lower.
The grain-carrying railways, both In
the West and Southwest, were favorites
of the bears on continued talk of crop
damage.
Anaconda Mining. American Smelling,
the iron and steel stocks generally and q
number Of other new Industrals showed
conspicuous weakness. On the other hand
New York Air Brake was marked up 10
points and Ann Arbor preferred usually
very inactive, rose 3 points
The afternoon rally was induced by the
vigorous upward movement in Sugar TO
161 on very large and confident buying.
The uneasiness of the shorts over this
demonstration of strength drove them to
cover in other stocks, making the close
quite active and firm.
The holiday in London Withdrew the
usual influence from that source. Money
continued abundant and easy, and the for
eign exchange market abated none of it's
firmness, though there was no large de-
mand for bills.
The bond market was affected in SYM
pathy with stocks and showed an abate-
ment of It's recent activity, and developed
weakness in spots. Early in the day there
was a continuance Of the large absorb
ton OF some Of the new issues. but this
fell off as the day progressed. Total sales.
So. TO COO.
Government bonds showed no change in
quotations
The totai sales OF stocks were 421 50n
shares. including Atchison preferred 27 :
935; Burlington, q $40; Manhattan. 1e. 400
Metropolitan Street Railway 6.O65; Mis-
souri, Pacific, 9,010;. Northern Pacific. Q 05o.
Rock Island, 7l95; Union Pacific. 6. 40. 81
Paul, 9,475; American Steel and Wire. To-.
500; Federal Steel, 2l.135; Peoples Gas. 1s :
800; Brooklyn Transit, 65395; Continental
Tobacco. 1920; Silver Certificates. 90 GOO.
Sugar. 1850
New York Closing stocks-west
Atchison ........1s do do pref 32ihl
do pref. .... 541aist Paul .12siI