The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-02

Railroad Stocks-Augusta and Savan-
nah, 1lS bid. ia asked Southwestern 11S
bid ia asked: Atlanta and West Point
stock, 124 bid, asked: Atlanta and
West Point per cent. certifica ties ,lOSik bid,
ia asked: Georgia, common, 2O6 bid,
2N asked Georgia and Alabama stock,
81 BID. 30 asked.
Gas stocks-savannah Gas Light Stock,
| q bid, Is asked.
Bank Stocks, Etc.-Citlzens Bank, 100
bid, 121 asked; Chatham Bank. 1O5 bid,
1O6 asked; Germania Bank, 1l6 bid,
asked; National Bank of Savannah, 1919
bid, asked; Merchants National Bank
of Savannah, SO bid "a asked Oglethorpe
| Savings and Trust Company, 1O7 bid, -
asked; Southern Bank of the State OF
| Georgia, 1871 bid, 1914 asked; Savannah
| Bank and Trust Company, Ill bid, l12 ask
ed; Chatham Real Estate and Improve
ment Company A, 561a bid, 81 asked: b, $50
bid, Sc asked Peoples Savings and Loan
| Company, 81 bid, 95 asked
| Factory Bonds-Augusta Factory, 101
| bid 1O2 asked; Sibley Manufacturing Com
pany Is, 102 bid, 1903 asked; Eagle and Phe-
nix Mills per cent. bonds, due 1925 1O2
bid 104 asked; Bibb Manufacturing Com
pany, 1G3 bid, 1861 asked
Factory Stocks-Augusta Factory, IS
bid SO asked; GranIteville Factory, 1850
bid 1875 asked Langley Factory 81 bid,
| lUlN2 dSkGts IsnAtlpTlSt dCAOIyt common,
90 bid, 80 asked; j. r. King Manufacturing
Company. 81 bid. 10l asked; Slbley Manu-
featuring Company IS bid. 7S asked sa-
.vannah Brewing Company, 1854 bid 1864
asked
New York, May Money on call was
| firm at 46S per cent; the last loan was
at per cent. Prime mercantile paper,
31kGI4A per cent Sterling exchange strong.
| with actual business In bankers bills az
| fn,. demand a nj al
for sixty days. Posted rates. $4.s6d4S6la
and 81 sSd4 SS1h Commercial bills, $4Sr4Q
4S5. Silver certificates, 62hQ6S4c. Bar
silver, 62hc. Mexican dollars, ACC. Gov
eminent bonds were weak state bonds
were inactive; railroad bonds were weak
New York, May 1.-The market to-day
suffered severely from general liquidation
and confident operations by the bears. the
| passage of the Ford franchise tax bill
early unsettled the market because of the
weakness displayed by the stocks most
| concerned.
Supporting orders by parties largely
| Identified with various properties and COW
ering by the shorts, steadied the market
for awhile and some recoVeries occurred
| A renewal of large offerings brought prices
down In a semi-demoraliZed fashion and
the closing was at the lowest for practi-
cally all stocks. Stop loss orders were met
in a variety of stocks and the pressure
continued to the end
The pronounced strength In sterling eX-
| change aroused an expectation in some
quarters for export of gold, but although
| opinion as to the probability of this was
divided, there were enormous sales of both
| accounts In the market.
Money ranged up to s per cent, but
| closed at half that figure.
The sales by London of copper stocks
recently was one of the reasons for the
strength of sterling exchange, but the more
immediate cause was the transfer Of the
Spanish indemnity warrants for $40 900 900
to the representative of Spain, who was
reported to have called for instructions as
to the manner of transferring the funds to
Spain. This gave color TO the rumor that
the transfer had not yet been anticipated
in the sterling exchange market, but this,
of course, was purely conjecture.
Some authorities were of the opinion that
sterling exchange was unlikely 10 advance
to a point which would make gold exports
profitable. While such a condition might
arise within the next two months there
were those of the opinion that the recur-
renee of the necessity to finance industrial
consultations, for instance that of the
Amalgamated Copper Company this week,
would maintain money at q rate which
would make 1t more profitable to leave the
gold here rather than ship In any quantity
abroad.
Among the extreme declines which early
unsettled the list the local shares were the
most prominent, including Consolidated
Gas, 14A; Metropolitan, IN; Third Avenue,
9; Manhattan, 65s, and Brookln Transit,
6ih.
The decline in gas shares was accompan-
led by the announcement Of a cut in prices.
other prominent declines were New York
Air-Brake, 4; Sugar 73s; Federal Steel, 6;
American Tobacco, o. Anaconda Mining,
4ls; International Silyer.4A Continental
Tobacco, ~, and American Steel and Ma
tional Steel each There was also pro-
nounced weakness IN Peoples Gas Ten
nessee Coal and practically all Of the other
industrials. From the extreme depression
there we're but few recoveries, among
which was Air-Brake, S1a, and Metropoll-
tan, Sugar and Third Avenue over a point
each Among the railways the losses
ranged up to Az in Northwest. with the
average elsewhere about q The fresh out
break of liquidation toward the close was
associated with the strength OF money.
To-day being a bank holiday In London
| there was no indication OF the attitude OF
foreign spectators in the local market.
Railway mortgages participated In the
weakness Of the day, but concessions were
mainly unimportant
u. S. old AZ coupon declined u, and dc
| TEShSteIEh dtfi tift . > n III tllS Dlu pIlCe.
The total sales of stocks were $50, 900
shares, including Atchison preferred 1853
Burlington, 1890; Louisville d Nashville
1850; Manhattan, $3.50; Metropolitan
I; Street Railway. 1920; Reading first
preferred $3.50; Missouri Pacific, 10, $50
, New York Central. 10, 100; Northern Pa
cifie, 2S,320; Reading, $500; Rock Island
$685. Union Pacific, 5,625; st. Paul, 1880
American Steel and Wire, 53,470; Fedora
Steel 1880; do preferred, 1920; PEG.
pies Gas, 1880; Consolidated Gas. 14.14O
Brooklyn Transit, 1885, 5O Continental To.
bacco. 1880; Sugar. 1895; Tennessee Coal
$780, Rubber, $500; Western Union, 5,72O.
New York Closing Stocks.
3 Atcbison ....... 20 ST. l.. & s. W.. 1874
do pref ....... 60 do do pref 80. 32lz
b. & Ohio ...... II st. Paul ......126h
Can. Pacific 49,. 95isI do do pref -. 1894
; Can. South $50. 5sAst. p & ON. 935s
: Cent. Pac ...... 81 do do pref Ills
c. & Ohio ...... 26hs. Pacific ...... 32ll
J c. & Alton .....165 s. Railway ..... w
: c., Il. & Q ....HlsSl do do pref -. 522i
| chi. & C. H.. rs It. & Pacific. 80. %