The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-27
Morning Market Report.
Special 10 The News

NEW YORK, Dec. 27.--An important
meeting took place last night ut the Fifth
Avenue hotel, and adjourned after mid
might. Among those present were Direc-
tor T G. ,Platt and II. ii. Prince OF the
New England, Mr.. Boardman and Frank
III. Platt. Mr.. Platt left for Albany, where
Judge Wallace OF the United States court
is now sitting, to apply to him for re-
ceiyer to take charge of the New England
road. London market is y to * better
except Louisville and Nashville, which Is
X lower as no dividend will be declared.
No More Tottering Roads.
There are no more receivers likely to be
applied for and it is the general feeling
that the worst has been seen.
Austria has only half enough gold to
carry through resumption act and it does
not look as IL they could get it.
While the holiday season brings no
buoyancy in quotations or in money ac-
tivity, it has compensating features in the
absence of gold exports, and in the as
surance that securities have reached a
level from which it is reasonable to ex-
pect that any change must be for the bet
ter.
Only three of the subordinate roads OF
ship proceedings. The Fuls, Colorado and
Santa Fe, the Southern California and the
Sonora railways are solvent and will not
90 into the receivers hands.
Trunk Line Presidents to Meet
A meeting OF the trunk line presidents
has been called for Friday. 1t grows out
Of the fact that the advance ordered Janu-
ary was made with the understanding
that the Erie should be at liberty to re-
duce the tariff IL it became satisfied that
competitors were not keeping faith, and
she trunk lines agreement must there
fore be made solid.
ID. j. Mackey has resigned as president
and director OF the Evansville & Terre
Haute Railroad company. Vice President
II. G. Barlow is now acting president OF
the company.
For the twentieth time or more the gov
ernors Of the Consolidated Stock Ex-
change announced that they are about to
devise some plan by which the bucket
shop practices may be checked. The good
name of the institution demands that
some action be taken on this line.
May BE Appointed This Noon.
A receiver for New England has been
0RHitSa tct bto hOt opPcthtSN no Jto. AhO
Jan. interest committee reported yes
terday they were unable to secure money
for interest payments, but the committee
was continued until today. Mcleod and
Armstrong are making strenuous efforts to
secure the money.
The collapse OF the Atchison forcibly
illustrates the great depression in credit
and shows how futile bull factor is the
vast accumulation Of idle money In the
banks.
A sharp rally should occur very soon, as
the market shows large short interest.
The reorganization OF the National
Cordage company having been completed
and all differences pertaining thereto sat-
isfactorily adjusted, the new company,
the United States Cordage company, now
comes forward as its successor. The lat
ter corporation takes over all the assets
and property Of the original combina-
tion.
The Distiliers company has issued n
CONFIDENTIAL circular TO the trade in which
1t gives assurance that prices will not be
unduly inflated despite the probable in
crease IN the tax on spirits. The net earn
ings OF the company for November were
100000.
AS prices have had pronounced decline
in the past week, and as the short interest
Is becoming rather unwieldy, rally from
today's lowest prices seems not improba-
bic. t