The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-13
FINANCIAL.
London Advances on Assurances OF
imminent Bend Issue.
Cotton Thought to BE q Good Purchase
President Cleveland ON Currency
Matters-Gossip Of the street.
Special to The News.

Special to The News.
NEW YORK, Nov. l3.-About the only
piece OF news this morning 10 the failure
OF Caidwsll 4 Bunker, but that IL not OF
much Importance as the liabilities are
Cotton is thought to be safe purchase
at the price reached. We have had all
the big estimates which we are likely TO
get and any one who will buy at once, and
follow it down, will not regret II.
Dominick q Dickson, Randolf d
Reuter- and Gross sold Sugar this morn
ing.
Dow, Jones q Co. say the Londos mar
kstt has advanced OH reassurances as TO
the imminence Of the bond issue.
There has been considerable buying
also, which has been stimulated by re-
ports that Mr.. Cleveland will deal
ssS.a'ivfy ss. hs T'h .pSun currency message %ss
This is regarded as an extremely favor
able development and likely to lead to
permanent settlement OF the currency
Troubles.
New England is quite active and
stronger.
London mas been buyer Of st. Paul
Cotton-Futures opened steady at the
advance; ssles 1890 bales. Nov, $50;
Dec, 5.32; JAN, 5.3i; Feb, 5.3S; March,
5.43; April, $40; May, 5.54; June, $40;
july o.o4 DID; August, boy bid.
Market Still Heavy.
The market was active and strong at the
opening. Erie advanced "a, Burlington
Is, St. Paul, Northwest, Rock Island and
Louisville & Nashville u and the rest Of the
market " to x. An attack on Sugar sent
that atock down TX per cent. to 81 n,
Cordage preferred receeding I, Manhattan
"a, burlington a, r. /. and Louisville q.
aud ut har sharca a llep fraction. The
market is still heavy.
Wires Not Yet Satisfactory.
The wires work very poorly ~ yet, 90
the dispatches and quotations are natur-
ally still meagre.
Providence Clearing House.
The clearings of the Providence banks
today amounted to 81 ,4l6,700.
Review Of Yesterday In Brief.
London prices came on frsctionally
lower, but nevertheless the market
opened fairly steady on the hope that the
the day of Government bond
issue. The important features during the
first dealing were Sugar, the coal stocks
and Chicago Gas, all of which were rushed
up rapidly on efforts to cover by be-
lated shorts, but elsewhere through the
range, especially for st. Paul and the
other Grangers and it became apparent as
the day advanced that the general public
was not disposed to take hold Of the stocks
at the present range.
In the early afternoon the bears became
more aggressive and attacked sugar with
considerable success, the STOCK after touch
ing 96h breaking by degrees to below 93
and closing at the last named figure. Trad
ing was very much quieter although there
were occasional bids in some Of the out
side specialties, and aside from Sugar, the
only special feature Of interest during the
early afternoon was the publication OF
Mr.. Little's report on Atchisor, which
was more favorable than expected
and gave rise to considers Bile
purchases OF the bonds. The closing
was generally below the opening with
losses of some Importance for Sugar, the
Grsngers, the Gould shares and Cordage,
and exception gains in some OF the insc-
tive specialties.
fuenced by disappointment that no no.
tice was received of bond issue, al
though the news agencies quoted bankers
and others in the confidence OF
the Administration as stating
positively that an issue might be
expected at any moment. The closing OF
Sugar rather Indicated the closing out of
speculative line of stock taken on be-
fore the election, and in case the st.
Paul sales were based on an ex-
pectation of further decrease in
earnings for the second week OF Novem-
Der. An irreg ular market is looked for,
although the general sentiment of the
street is more hopeful, and when COM
municstion Is restored it is expected that
the public will be moro disposed to take
hold OF stocks on reactions.