The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-21


The board Of health says that there are
$4,000 people ont of employment in New
York. The interest on Atchison As, due
Jan. 1, has not been advertised yet in the
papers.
Several bearish rumors on Gas are being
circulated.
Market Remains Irregular
Thamarket promises 10 remain narrow
and irregular, and the only prospects OF
changes are occasional rallies when the
shorts overdo their work.
Without developing special activity the
general market is strong rallying about as
expected then declining owing tQ the
buying power. Advances, Of the
kind established early yesterday having
no better basis than enforced buying by
bears-are always temporary. Conse-
quently whenever such purchasing de-
mand is satisfied the current of specula-
ton will resume its natural course which
with present conditions is downward.
With the exception of Canada Southern
the surpluses ell show a material falling
of, especially that of the Central.
AS might be expected, following its
heavy decline in the preceding two days,
New England after fractional conces-
sion on the opening, rallied
auring the session yesterday, and
closed with a net gain OF
III per cent. Officials claimed to have
the January interest, but profit taking
by the bears IL the sustaining fac
tor. The speculative characters
of the stock not having
changed in any way, the spectators are
slightly in the shade as TO its future
oh
short selling around 20.
The bullish sentiments and fallacious
arguments engendered by easy money
having been dissipated, the state OF trade,
freight traffic, and the outlook for inter-
est and dividends are now paramount
cons iderations.
AS yet unfortunately there are no sig
snihcant signs OF improvement or of that
radical change for the battles TO be given
by the repeal Of the silver purchase act.
whisky strong In Chicago.
The talk in the Chicago market is bullish
on whiskey, and Western directors have
bought n good deal OF stock on this
break. A large Hebrew house in New York
wires that Whisky trust is safe buy
now. The biggest house in Chicago Gas
wired that bears would find a scale buy
ing order in that stock which would last
as long as they cared to sell.
"A director OF the Brooklyn Union Ele-
waited Railroad company says that the de-
cline in the price of the first mortgage
bonds OF that company is,
in his opinion, the result
OF a senseless scare. ''The earnings of the
company are smaller than they were last
year, owing in part to the hard times and
also to the competition of the trolley
roads. The last has, however, spurred
the management to reduce expenses
where practicable"
Speculative stocks Suffer Most
That the situation is rather discourage
ing on the surface is shown by the re-
stricted volumn of business. With
decreased earnings and unsettled
outlook, anxiety is expressed as TO
the financial stability OF those companies
not overburdened with surplus cash.
There are but few men selling dividend
properties except as they are obliged to,
but speculative stocks especially is specu-
latively held, and are liable to be liquidated
from time to time.
The sale of Chesapeake, Ohio and South
western to IliiHeis eentraf was concluded
last Saturday. Mr.. Huntington is said to
have received about $ 100000.
Atchison earnings for the second week
in December, showed decrease of
S0o,2l9.
An Argentine Loan.
A scheme is on foot for the issue OF an
Argentine loan for S3O,OO0,0O0 TO consoli-
date the floating debt.
New Engiand's Mystery.
The sales OF New England yesterday
from about 1870 p. M, when the stock
sold at %, TO the close were 17,7G7 shares.
No one could be found willing 20 ox-
plain this new bar mystery.
Everyone said 1t was long stock, that
caused the break, but what interest had
sold could not be determined. Some
time ago the stock was practically
ell in the hands OF four or Ave men and
their friends. No such blocks as were
sold Monday and Tuesday could have
come from any other source, and no
shorts would dare 90 sell New England as
1twas sold yesterday.
There We're several theories about the
break the most generally accepted being
that something unfayorable in the com-
pauy Affairs had developed, and that the
Mcleod pool had sold or else some OF Mr.
MeLeod's associates had run.
only 40 rer Cent. Changed.
The oncroi the Now York, New Haven
and HEREFORD company 10 give nine shares
of rs stock for 40 of Old Colony. expired
yesterday. Of 159O00 shares Of old Coll
oDy stock only about $1,000 were ex-
changed. TIE option Of exchange viii
roi be extended. Officers of the Ncw
Haven cOiureDy FAY thcy are quite as well