The Providence news. (Providence [R.I.]) 1891-1906, 1893-01-03
THE FINANCIAL NEWS.

BosToS, Jan. 3--London prices cam,
higher and q strong op ening followed OF
this side. After the buying orders,
which had accumulated over the holidays
had been executed, the bears comm enced
theirold tactics
The opinion OF Bache a. Co. seems To
Mt the situation exactly. They say the
maket In awaiting the disposal Of the
silver question and will be in control OF
the professional element in the mean
time.
Sugar was the bull card. Quite a large
number Of commission houses had orders
TO execute. and the clique were active in
the stock. The directors at their meet
ing Of Jan. II will probably recommend
changing the payments of the preferred
dividends from semi-annual to quarterly
payments.
Minis started the selling of Reading
and couple OF points was knocked off
the stock very easily. Phlad elphia
houses also Joined in the sell ng, and
wired that negotiations between the
Reading and Pennsylvania crowd had
fallen through.
Chicago Gas opened strong, with
brokers representing the pool bidding for
round lots at 30. After they got several
thousand shares the support was with
drawn and the stock was left TO itself.
The course was steadily downward.
NEW YORK, Jan. 3.-The Orr commit
Tee has Issued circular to X. 4. stock
holders calling meeting.
Inc free silver men in congress propose
70 oiock all attempts TO repeal the Snsr-
man act. Representative Pierce, |
Biand's lieutenant, says that moth |
ing will be accomplished in silver |
legislation during this Congress. but that |
the Sherman law VIII be repealed early |
next session In response to the demands
OF Cleveland. There is majority of the
present committee on banking and cur
reDcy in favor of repeal
roreiRn houses say that il any gold
goes out this week IL cannot GO before
Saturday. because the only French boat
sailing this week Is the Gascovne on
Saturday. The German boats left to-day.
erlinR exchange has not exhibited a
decided tendency yet IL is understood
that the supply of bills is not as large in
point or amount as was at first supp ossd
There Will be big sDeculati on in New
England common some day that will be
dazziing says the Boston Commercial
Bulletin. We have reason TO believe that
some OF the brightest and most conserva-
1--we men on the street are now rather
large holders OF the common who have
~aeC coch intcIcsttu i. t0e preferred 4
oniy. IL the present plans for traffic
are carried out aud no hitch occurs.
'5e earnings Of the New England road
~ the close of 1898 will show moderate
percentage earned on the stock. This is
he secret OF the Reading control of the
took, and the Philadelphia people conR-
lentiy expect TO make the stock worth
N the market SIS per share. 1t is proba-
'le that at the annual meeting in March.
Ir. Mcleod will be made president of the
Sew England and MIR. Parsons chair
nan OF the board, the same plan as wss,
arried out at the Boston and Maine
neeting People who think that Presf- 7
ent Parsons Is negotiating with Presi- }
ent Clark OF the New Haven TO sell out
0 the latter are mistaken. The relations I
etween the two men are not so pleasant .
that As we have before stated, Presi- :
ent Clark aud the New Haven manage
lent In Its attempts to bankrupt the
lew England, have proven themselves
xtremely vindictive and Mr.. Parsons a
irries around with him righteous in
lgnation at the course they have pur-
led. Furthermore. we have il upon
retty good authority that Mr. Parsons =
FULLY in accord with the Readings
lans.