The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-16

President Cleveland and the Sugar
Bill.
Gold from the Bank OF England
Break In Coal-Tne Sugar Rally
General Financial News.
snecialto The Nau.s.

New YORK, Nov. 16.-President Cleve-
land will recommend the passage OF the
pop gun bills in his message and dwell up
on the sugar bill which strikes out the rs
diherential, as passed upon by the n ince
committee of the Senate. The AZ per
cent. on raw will have to be retained as a
revenue measure.
The short interest in Manhattan Ele-
waited has increased greatly. 1t Is SAID
that ID. &. +. Company is Offering to dis
count bills in advance.
London Is one quarter lower.
Potter Was the only big buyer OF sugar
yesterday and will try TO get a rally out
of IL IL possible. Traders are rallying
sugar; there are too many shorts In It,.
The demand for wheat Is not SO good as
II has been for the past few days, but the
market opens firm.
The 100000 pounds of gold taken from
the Bank OF England yesterday is con-
signed to the British Bank of North AM
erica, OF New York.
ave have some very besrish informa-
give, but we look for a severe break In all
the coalers and think there Is quick
money in all of them on the short side"
say Rolston AZ Bass.
The demand for Jersey Central last
night was a .sfake.o There is plenty OF
stock offered this morning, but none
wanted.
Sugar made gain of x, but quickly
receded 1. An exception was Cordage,
which sold up "a and Pacific Mail ",
Speculation continues heavy.
The initial trading generally reflected
soiidated Gas went down n. New Jersey
Central l, Lake Shore aud General Elec-
trio K Wheeling a. Lake Erie and st.
Paul, Erie, Leather preferred, Rock Island
and Richmond Terminal e.
Cotton-Futures opened steady at the
Isn1 t..l. t.as X
bid; December, 5.3l January, 5.36; Feb
ruary, 5.42, March, 5.47; April 5.54; May,
5.59; June, 5.64; July, $40; August, 5.77.
Providence Clearing House.
The clearings OF the Providence banks
today amounted to Ss66, 100.
Review of Yesterday i'm Brief.
London prices came in q shade higher,
but the market opened somewhat irregu-
lar with business, except ih
few instances, very moderate in
volume The impression existing that
the Cammack brokers had sold
Government bond issue had fallen fiat
was confirmed by further rumors that the
Csmmack party had sold perhaps 10000
shares of various stocks, and during the
morning hours it was believed that
they were covering, especially
III tDe DFdngers, MduDattau anu
Sugar. The movement in Sugar was an
extraordinary one, the stock opening at
SS and advancing by degrees to above 30
before the turn came. From this point
there was reaction in the neig h borhood
of -S9-aad- during the last half hour
sharp decline under large safes
to67A, the stock closing at S7h, or a loss
of only u per cent. for the day. In the
esrly hours of trading the Changers and
other active shares were generally firm In
tone, but near the close there was
tremendous raid on the coal
shares based on rumors OF serious
disagreements at coal meeting, the de-
tails Of which were not obtainable up to
the close of business. The selling, how
ever was energetic both in these stocks
and Sugar and the declines gave an
appearance of weakness to the
general list. Final changes, however,
were uninportant except in the case OF
the coalers, variations elsew here being
| only fractional and in some instances
showing slight gains for the day. ku-
mors we're current during the last half
hour of gold Withdrawn in London for
shipment to America, but this incl
dent exercised little or no influence on
the trading. The market has drifted
I HgHirr tbe hands OF the professionals,
the Cammsck party and 3. V. White have
been credited with large portion OF
the business, and the confidence of
their selling has given rise to
something OF bearish feeling on the
general list. So far as the bond issue is
| concerned traders in the stock market
have paid little or no attention TO IT,
| and it now looks as IL fluctuations
would depend on the movement in Su-
| gar, Oh railroad earnings and on sur
misses as to he effect of the meeting of
Congress on the general speculation. The
| Changers and Manhattan, however, in
| spite of considerable bear talk held
reasonably firm thrcugho the day and
closed practically without change from
the final figures OF the night before.