The Providence news. (Providence [R.I.]) 1891-1906, 1894-09-28
FINANCIAL NEWS.
The Bears Are Having Fun With the
Sugar Stock.
The Boston Refneries TO Shut Down
TomOrrow-The Proposition to Bull
New England Postponed.
Special 10 The NeCs.

| sugar opened tnls morning with sale
| of 1000 shares at 30, a of Yesterdays clos
| ing price. Aidod by the Havemeyer talk
the bears have depressed this stock and
| the other Industrials are sympathizing.
| These are apt TO 60 lower although better
buying of the general list is noticeable
| feature.
There has beena split between the Sugar
| insiders and the bull leaders in the last
campaign have all sold out, but are prepa--
ing to take hold again.
The Boston sugar refineries will close
down tomorrow.
One of Boston's biggest sugar operators
is quoted as follows:
"Sugar stock was never 20 cheap, even
when it sold at 30, as it is now, for il will
divide up more in assets, in comparison
with the price, than ever before. The
probabilities are in favor of an extra
dividend rather than q reduction from
IL per cent?
The market today looks like purchase
on declines, with the exception, perhaps,
OF the high priced coalers.
London is fractionally better.
Gross decrease of Chicago, Burlington &
Quincy Railroad Company for the month
OF August was S1i2, ,252.
The Broadway bulls who proposed to
bull New England have concluded to
to await a more favorable opportunity.
The fact is politics from now on will en-
ter very largely into Wall street opera
tions and in the absence OF the great out
side public stocks are not likely to go up
very much.
st. Paul's net increase for August " Is
sls5,OOo, about $4,000 less than was pre-
dicted.
There was q meeting of the Western
Distilling Association in Cincinnati yes
terday and some action was taken on the
rebate system. An advance in the price
of whiskey OF 20 cents on the gallon was
also advocated.
Wheat opens a shade lower on lower
cables and selling by commission houses.
The shorts are doing the buying.
Cotton futures opened steady at the
decline; sales 1000 bales. Oct, 6.iO; Nov,
6l5; Dec, 6.22; Jan, 6.26; Feb, 6.3l;
March, 63.7; April, Gi.3 bid; May, CAS-.
The cotton report from Liverpool is r.
600 bales. FIXTURES steady, demand mod
crate with l q points advance.
In General.
The stock market opened firm and in
most instances the initial sales were
fractionally higher, Sugar has con-
tributed largely to the speculation
thus far. The shares opened la per cent.
off at 30; quickly sold up to 90 "a and on
heavy sales have since broken TO SO 3-S.
Chicago Gas has also been literally traded
in and has evinced the same degree
of weakness and is now down to
6SM, loss OF / x per cent. from the OPEN
ing sale. The rest of the market has been
neglected and the only occurrence of note
is loss. of q in Erie preferred.
Review of Yesterday i'm Brief.
Landon prices came in fraction higher
and our market opened somew hat irregu-
lar with the interest of the speculation
centering chiefly in Sugar. The gossip of
the street for the past few days has indi-
Gated that insiders were Wiling to see
M fnr utn f,,, 81. Al
expected attacks on the property when
Congress assemblies. 1t has been their
policy in the past 10 prepare for such at
tacks considerable period in advance,
and 1t is thought that the present
movement is generally in the
dealings the stock was offered down
rapidly to the neighborhood of g2 whore
some support was encountered, possible
through shorts. but during the last hour
the selling movement was renewed with
great vigor and the bears succeeded in
forcing the price down to g0h, or n not
loss of AZ per cent. for the day.
The early movement in Sugar exerc sed
little effect on the balance of
the list, although the bears made per
sistent efforts to depress the Changers.
Chicago Gas and ID. c. f. Notwithstand-
ing these raids, however, prices were
well held and later in the |
day the shorts advanced, c. b. Il @. on |
rumors of favorable showing i'm ret |
earnings for August. l.. d n. was also |
firm and the other leading speculatiyes |
about steady, although the early declines |
in Manhattan and New York q New Eng |
land were not recovered. Final prices |
were irregular, with slight gains in |
Western Union, Reading, G. B. q O., and |
l.. * n. The principal losses were recorded |
in Sugar, n. Y. a n. r.. and Manhattan. |
Providence Clearing House.
The Providence bank clearings for the
day amounts to $3.50, ,33l.27.