The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-04-07

Bank Stocks. Etc.-Ciuzens Bank, III
bid, us asked; Chatham Bank. 1O4 bid
los asked; Germania Bank. 1l6 hid
asked; National Bank of Savannah. 12S
bid. - asked; Merchants National Rank
of Savannah, 81 bid, 80 asked: Oglethorne
Savings and Trust Company, lO7 mid
asked; Southern Bank of the State of
Georgia, 129 bid. 100 asked; savannah
Bank and Trust Company 10 bid, III ask
ed; Chatham Real Estate and Improve
ment Company, A. So bid. 81 asked; b. ssh
bid, 56l4 asked Peoples Savings and Loan
Company, 81 bid. 80 asked.
Factory Bonds-Augusta Factory I'M
bid 102 asked Sibley Manufacturing Com
pany Is, 102 bid, 10S asked; Eagle ana pho
nix Mills. per cent. bonds, due 1928 10l15
bid. 103 asked. Bib Manufacturing Com
pany, 1903 bid. 1861 asked
Factory StOcks-Augusta Factory. So
bid, SO asked; Granitevile Factory 15o
bid, 1855 asked; Langley Factory, 81 bid
l0l12 asked; Enterprise Factory. common
30 bid. 90 asked; J. r. King Manufacturing
Company 81 bid, 101 asked Sibley Manu-
featuring Company, 6S bid, 70 asked; Sa-
vannah Brewing Company. 10i bid, 1O5
asked.
New York, April 6.-Money on coll was
hrm at S@l2 per cent; the last loan was at
. per cent. Prime mercantile paper $50
"a per cent. Sterling exchange steady
with actual business in bankers bills at
AS6Ad4S6l2 for demand. and at $500
4.S412 for sixty days; posted rates $4.S51
4.So12 and AS7Q4.S712; commercial bills
$-SS32q4SS% Silver certificates, 6GlGOIbc
Bar silver. $3.50; Mexican dollars, 47l5c.
Government bonds were strong: state
bonds were easier; railroad bonds were
weak
New York, April 6.-Stock prices slumped
oadiy to-day, and closed active ana weak
at about the lowest Crop advices were
not favorable, and these were given color
by the advance in wheat but the princi
pal cause for the shaking of confidence
was renewal of stringency i'm the can
money, market. Discrimination in loans
IN certain industrials and specialties made
some brokers disinclined to carry marginal
accounts for some of these properties
rms attitude was taken ADVANTAGE of nv
the bear contingent, and promiscuous sell
ing OF the general speciality group follow
ed. Among the more conspicuous extreme
breaks were Brooklyn Transit TO- Metro
politan SA Manhattan Tx Consolidated
Gas and American Steel each, Federal
Steel and Tobacco about each, and many
others in this group from to 4. Some of
these stocks closed above the lowest
Brooklyn Transit, Manhattan and Consoli-
dated Gas being conspicuous. The de-
clines in the more active railways approx
MATED each. The acknowledged bull
seemed apathetic in stemming the down
ward course of properties with which they
are Identified. There were occasional raj
lies, apparently only to afford a new level
from which to let go stocks. The recent
continued advance in many stocks, which
eliminated much of the short interests
made the decline rapid. as there was no
support from this quarter. Many STOP
loss orders were uncovered, thus accelerat-
ing the decline
London early purchased about as much
as it sold yesterday, but the market there
followed local quotations so nearly that
arbitrage business ceased.
There was much money borrowed early
on call around and on railways, but 2
per cent, or more In addition was exacted
on industrial collateral and u per cent
for call loans was reached at times during
The day. Before the close money was Of
fered down from to per cent. on rail-
road collateral after the more urgent re-
quirements for money had been met but
later loans were made at 6 per cent. The
continued high rates for money has not
brought as much money from outside
points as expected Boston, however,
loaned some money in New York to-day.
The demand for money for interest and
dividend payment together with the re-
currens necessity of financing industrial
companies, We're assigned as the reason
for the present scarcity of funds.
Heavy offerings of The active issues were
made in the bond market to-day, coinci-
dent with the decline In stocks. Total sales
81, 900. United States IS advanced a
and the IS and new As "a in the bid price.
The total sales of stocks were $40, 400
shares, including $500 Atchison preferred,
1865 Burlington 1860 Manhattan, 9,S45
Metropolitan Street Railway, 1860 Mexi-
can Central, 27,77O Missouri Pacific, 5000
New Jersey Central H. $50 New York Cen
trail, 1855 Northern Pacific, 9,365 Ontario
and Western, 1920 Rock Island 21.775
Union Pacific, 9,S49 Union Pacific preferred,
Il, 800 Wabash preferred 29165 st. Paul,
1885 Southern Railway preferred, 1886
American Steel and Wire, 6775 Interna>
tional Paper, 72145 Federal Steel, 1868
Federal Steel preferred, 29150 Peoples
Gas 49, 4S1 Brooklyn Rapid Transit, 49,,
1876 Continental Tobacco, POLO Sugar, 49,
S35 Tennessee Coal and Iron. 5,SOS United
States Leather, p $3.50 United States Leather
preferred, 12,47O Rubber, 11,94S Western
Union, $3.50 Chicago Great Western.