The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-04-09

Factory Bonds-Augusta Factory, 101
bid. 102 asked; Sibley Manufacturing Com
pany 6s. 1O2 bid, 1903 asked; Eagle and Pie
nix Mills 6 per cent. bonds. due 1928. 1914
bid. 1OS asked Bibb Manufacturing Com
pany, 1903 bid, 1862 asked.
Factory Stocks-Augusta Factory, IS
bid, 50 asked; Graniteville Factory $50
bid, 1855 asked; Langley Factory, 81 bid
1O11s asked: Enterprise Factory, common
30 bid, 92 asked; j. r. King Manufacturing
Company, 81 bid, 10l asked; Sibley Manu-
featuring Company IS bid, 70 asked; Sa-
vannah Brewing Company. lN bid lOo
asked.
New York. April S-Money on call was
firm, 5Gi6 per cent; last loan was at 6 per
cent. Prime mercantile paper SA@f4 per
cent. Sterling exchange easier with act
ual business in bankers bills at S4S6G
1864 for demand and at &.S3Aq4A for
sixty days; posted rates AS5d4s512 ana
| $4.S7d4S715. Commercial bills A.SS2Q44;
Silver certificates 6Od6Ol2. Bar silver 59l2-
Mexican dollars 47lhc. State bonds were
inactive; railroad bonds were firm; gov
eminent bonds were strong.
New York April S-The weekly bank
statement shows the following changes:
Surplus reserve, decreased $476O25; loans,
decreased $1.241. 100. Specie, increased y
200; legal tenders decreased s., 412SOO de-
| posits, decreased IS, 952, 300; circulation in
01SS2 in excess of the requirements.
New York, April S-Interest in to-day's
market centered about che bank state
ment which on its appearance received
variety of interpTet atoms. The first inn
preston seemed favorable, as prices rose
at a lively rate. but fuNer analysis of
the statement appeared less optimistic 10
some as realizing set in, leaving the mar
ket weak at the end and irregularly
changed on the day.
The speculation was chara cterized all
| day by feverishness and irregularity, At
| ter an early show of strength weakness
| appeared and some stocks lost per cent.
After the shaking out of many specua-
| tors yesterday, the nervousness to-day
| may be considered natural
Some fortunate purchasers at yester-
days low level accepted handsome profits
| to-day. while certain brokers, who had
| sold too hastily yesterday, on receiving in
| creased margins from customers, bought
| back stocks sold. There was a dribbling
| of standard stocks that their owners might
| protect highly speculative ventures.
The impairment of some large specu.a
| tive holdings, owing to the markets ac-
| ton yesterday, induced tightening Of
| loads on the rise to-day. Venturesome
traders with only moderate margins paid
| the penalty of over-speculation this week,
| and their paper profits were quickly wiped
| out, as well as the principal invested. The
market, after being boosted early in the
week. apparently with the idea of liquidat-
ing the stocks held by large interests, be-
came top-heavy and sagged violently to-
! ward the end of the week with a partial
| recovery, leaving losses in the entire list,
except a few unimDortant properties.
The net losses in the standard railways
| averaged something below points, while
| in the specialties the losses were in all
| cases considerable, the largest declines
| being Metropolitan, 1914 Brooklyn Transit,
151a; Federal Steel and Consolidated Gas.
over Y each; Sugar, liz; Air Brake, 10;
Manhattan. 3D. Third Avenue s.
Stocks of this class wept over a wide
radius, the range of those which fiuctu-
ated most widely include Metropolitan,
which at one time was 80 points below the
| highest; Brooklyn Transit about 30; Sug-
ar, 271a; Manhattan, %; Third Avenue, 20;
and Federal Steel, Peoples Gas and In
| ternational Paper well up in the teens.
| The greater part of these violent dips oc-
| CURED in the first hour and a half on
Friday, when the Industrial panic quickly
swept out the marginal holdings of spec
| ulators all over the country. While the
| strtngency in the money market was the
| principal cause of uneasness the discrim-
| ination against Industrials when les full
| scope became understood was the imme-
| uldle cause OI the shaking OF confidence.
The most eager sellers had been gener-
| ally the purchasers at the high prices
earlier in the week. Aside from the money
| situation and unfavorable crop advices.
| the developments were generally faVora-
| bic. Most of the weeks railway earnings
were good, and there was an Increase for
the week of over 80 per cent. in the clear
iugs of all the banks, partially attribute
BILE TO the extraordinary way of specula-
| ton. Dealings of the week were not far
from 100000 shares.
The bond market followed the variations
I'm stocks rather closely this week. but
net losses were not as a rule important.
United States new As, coupon, advanced
q; do registered, the 5s and old As. cou-
pom, y, and do registered " in the bid
price
The total sales of stocks, to-day were
SS3,4OO shares, including 1402O Atchison
preferred, 300 Burlington 27670 Manhat-
tan 8,S25 metropolitan Street Railway. IA.
800 Missouri Pacific, 6,s25 New York Cen
tral, 5,Sl5 Northern Pacific 5315 Rock ISL
and, $40 Union Pacific 6,Ss5 do preferred
235 st. Paul, 6,S6S American Steel and
Wire, zoos Federal Steel, 10 1866 do pre-
ferred, 1875 Peoples Gas, Al .235 Brook
Ign Rapid Transit, 7165 Continental To-
bacco. 1880 Sugar, $500 Tennessee Coal
and Iron
New York Closing Stocks-West
AtchiSOn g.. - q do 40 rDroF oo,t,