The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-26
THE FINANCIAL NEWS.
THE BE4Rs NAVE A LfRGER FOL-
LoWING THAN USUAL.
Relief Expressed by Both Bulls and bears
at the Atchison Receivership-New
Engiand's Mystery.

NEW YORK, Dec. 26.--Ho London mar
ket ttoday. The floating debt OF Atchison
Is little over sl0,0o0,0O0. ST. Paul earn
ings due today are likely TO
show large decrease. Speaker
Crisp says that tho tariff bill will pass the
house not later than Jan. 81. The advices
are TO purchase on weak spots. New En-
gland acts as IL it were going higher.
London has buying orders on Atchison,
although the London exchange is closed.
Except for Atchisons dealings in railroad
and miscellaneous bonds last week were
limited. The speculative issues as a rule
have followed the course of stocks and are
generally little easier in consequence
OF the depression on the stock exchange.
Expensive Accidents.
The Wabash directors have decided not to
pay dividend on the A debenture bonds,
partly on account OF the unsettled condi-
tion OF business and partly on account OF
the demands for cash to settle damages on
account of injuries by accident.
The actual condition of the st. Nicholas
bank will probably not be made
known until the formal appli-
cation for the appointment OF
receiver il made today. Bank
Examiner Judson has practically admitted
that depositors will be paid in full, but
within what period of time he declines to
commit himself.
Inside support OF Western Union.
There was evidence of inside support OF
Western Union on Saturday. The decline
in Western Union thus far has not in
creased the amount of long stock in the
street.
While further depression in prices was
the general anticipation over the holi-
days, prominent commission brokers
felt that today or tomorrow stocks
would see bottom for the time being at
least. The leading bears have now a
greater following than at any time since
their campaign began, and will turn the
market themselves. 1t was thought
yesterday in order TO thin that following
out and get a better range OF prices to
sell on.
The Atchison Receivership.
The receivership of Atchison was dis
cussed by both bulls and bears with a
feeling ofrelief as theapparent uncertainty
had produced in the street a tension that
was unpleasantly trying to the nerves.
The possible effect of the news here and
abroad was likewise widely discussed,
and operators of respected judgment felt
Atchison securities would decline further
today, together with the grangers. They
were especially skeptical as to Missouri
Pacific insisting that Atcbison's
misfortunes would certainly be reflected
by serious decline in Missouri Pacific
stock and reccivership for the property.
Business Situation Unc hanged.
The business situation presents no new
features. Failures the past week showed
n slight increase and numbered
344 compared with 339 week
before last and 2S3 for the corresponding
period year ago. Bank clearings con-
tinue to reflect the abnormal inactivity
in trade, aggregating for the
past week only 9H million
dollars against s931, 900 900 the week pre-
ceding, q decrease compared with the like
week of 1892 of $456, ,000, 900.
The stagnation in trade has adversely
affected railroad earnings which con-
tinues to decrease at the rate of about IL
per cent. in gross as compared with the
record OF 1892.
Officials are still OF the belief the first
quarter of 9l will furnish no improve
ment, and some even fear further shrink
age in the volume OF traffic. The
general western freight movement last
week was very unsatisfactory, the excep-
tion being corn, primary receipts OF which
were far in excess of year ago.