The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-11
THE FINANCIAL NEWS.
81. PAUL EARNINGS SHOWS QUITE
A DECREASE TODAF.
A Lower Market Is Looked For-London
Situation Uncbanged-Probab'y Little
Gold VIII lie Exported This Week.
Special 10 The News.

kpccfal 70 The news.
NEW YORK, Dec. li--London is unchanged ex-
cept Louisville and Nashville which IL "a lower
poor earnings and poor prospects as regards
dividends. IL Is estimated that over
100 900 people are out OF employment In Chicago
ST. Paul earnings come out today. They VIII show
over 100000 decrease.
The Treasury balance is S94,9O7, ,ics.0O Alower
market Is looked for.
Zig Iire at Antwerp.
Maison Hauscatlgue, a famous granary at Ant
werp, consumed by fire, loss si,sOO,OoO. ltcon-
tanned 20 900 tons OF grain.
Eastbound shipments last week were 62,266 tons
against 77,lss last year.
a Decline In Sugar.
A decline in sugar IS due 10 Washington news.
The principal foreign houses say today that they
do not expect TO export any gold by steamer to-
morrow.
The tape from Chicago says that Eastern Illinois
has been sold TO the Big Four.
Live stock traiic for November was the iiehtest
on Western roads for years, falling 264s cars below
last year.
~. raui Earnings Decreased.
ST. Paul earnings for the nrst week Of November
show decrease OF $4,000.
A resident Of Colorado writes the following 10
Kennett Hopkins a Co; 'sinee the repeal OF the
Sherman law Colorado has developed
over so new paying gold mines and
unless yon export gold there will be Glut OF this
metal on the market. The mining dis
tricts of Colorado, aside from Lead
Vile and Aspen, which are silver districts,
never were in a more prosperous condition and
Leadville and Aspen doing fairly we'll The
hopes OF an increased gold production from this
state will surely be realized.
No Change In 'ugar Schedules.
II is stated on high authority that there will be
no change in thd sugar schedule from the original
proposition.
1t does not seem probable that an outside interest
be developed in the speculation with the uncer-
tainties OF congressional legislation hanging
over trade and industry and the railways con-
fronted with an unsatisfactory outlook for earn
ings.
No great decline in the general list is expected,
but there will be rather continuation OF the
limited market.
The tariff bill has undoubtedly hampered business
and this will influence the market and result in
lower prices.
Many bankers now believe that Saturdays bank
statement marks the turning point in the heapng
up Of idle money in our city banks.
The bears say that the Chicago Gas insiders are
continually feeding thomarket with their holdings
is taken, however not TO permit the selling to
cause too great slump In the price.
Optional De cision.
Renewed discussion has been aroused In specula-
tive circles over the decision rendered few days
ago by the Missouri court OF appeals on option
trading.
The court holds that a debt contracted in an OPP
tion deal cannot be collected by law, such
speculation is gambling and illegal. The points
sustained were that the debtor was not bona hde
purchaser, was not prepared to receive the actual
grain, and that II in contract FOR future delivery the
only purpose Is 10 speculate on the difference be-
tween buying and selling prices, such contract is a
wager and therefore is null ana void.
Dull week
Another week Of Increased upathy hus passed, In
which the aggregate transactions, but for the
activity in certain industrals, would have
hqau ahn he of
The tendency OF prices downward, but material
declines arc lacking because holders still hope
ful that something will develop TO start substantial
rise, hope which it would certainly be grati ying
10 encourage IL the present situation warranted
Interest Wiil lie Paid.
An official OF the Northern Pacific road says that
the interest amounting TO 81 00o due in January
on the first mortgage bonds, will bo paid
The cond0ion OF foreign exchange, with gold ex-
ports actually starting up again, revives interest in
the treasury situation TO more than ordinary ex-
tent, seeing that the stock OF gold on hand in the
government vaults is down TO very low
figures, and in view also of the
official statements just made regarding the
subject OF the gold movement generally. What has
pcfhaps excited more discussion and attracted
more attention than anything else relating TO the
national finances during the past few months has
been the net gold holdings which are behind the
note issues.
Attack on western Union.
There was a rush TO sell sugar at opening West
ern Union was sold report OF reduction In force.
Clews sold Western Union. White sold a put on
1000 shares OF Western Union 1000 at s and 1000
49, to Wei for fifteen days az per cent
Helbach, Eokleheimer & Co. will ship 5000, 900
gold tomorrow.
The Bond Market.
The bond market during the past week occupied
rather less comparative attention. though issues of
the edged sort continue In excellent requets,
brokers reporting their inability 10 secure
enough OF such class without pushing up prices.
As has been the all along the market has been
swept bare OF them and the offerings only in
small lots In the general list of lower priced bonds
a fairly active movement has been recorded, and
prices as a rule were held pretty steadily. con-
spicuous exception afforded by the Atchison
issues which fell of sharply during the early part
OF the week on reports that the company would
have 10 undergo another reorganization.
President Reinharts prompt and explicit denial Of
the truth OF any such rumor carried much weight
with Il In view Of the thorough confidence with
which he is regarded by the investing public and
late dealings there recovery.
To Prevent "a Consolidation.
Special to the News.
CHICAGO, Dec. I1.-Govcrnor Brown SAYS
that attorneys urc preparing pc
tition TO prevent the consolidation
of Louisville and Nashville and Chesapeake
a. ~ n