The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-11
FINANCIAL NEWS.
Washington Doings The Center o.
Attraction.
Erie Inclined To Rally-Liverpool
Market Weak and Nervous-Notes.
Special 20 the Neio,

leuge tnBt Dosu tho house ana oenale
will, during their remaining term OF life,
endeavor to retrieve some OF the mistakes
OF the past will have decided tendency
10 resi- ore conf lence.
There is no doubt but that the Demo-
cratic party is awaking to the fact that
the country can stand anything better
than delay, and the lesson taught five
weeks ngo was not inculcated
at too great cost il Congress
does something during the next
IL weeks to retrieve, or at least modify, its
past. That the currency question will be
the overshadowing influence, no one for
the moment doubts, and a prominent
leader of the Democratic forces said last
evening: 81 am certain that there will be
very pleasant surprise in store before
the end of next month"
The leaders recognize that il they want
TO go before the public in 1896, TO make
a strong appeal to the people, they can
only do SO by showing their appreciation
of existing conditions.
The decrease in St. Paul OF S37,971 was
very much better than had been looked
for and the returns certainly indicate that
q change for the better has come.
Some OF the very best informed Insiders
on sugar were advising their friends yester-
day to buy the stock for another up tufn,
II the reaction should extend to 30 or
thereabou,s. They say that Sugar will be
a good stock to trade in and its huctua-
tions will scarcely be as wild during the
next few weeks. Ii Sugar is temporarily
weak il will be a purchase, is the judg
ment of those whose predictions have
been uniformly correct.
Manhattan should have a little advance,
especially as the directors will ho.d their
meeting this morning, and declare the
regular ~ per cent. The business of he
Z evated is keeping up favorabiy, and
there is no reason TO suppose. or even sug-
gest, that the earnings will fail below
level that Will prevent the company max
ing at the rate oi71g or s per cent.
The prospects for Erie are not fiattering.
Ii is certain that of all the Eastern trunk
lines il is in the very worst condition. It's
equipment is none of the best and con-
siderable money will have to
be spent on the road. Moth
ing short of drastic treatment
and liberal use of the pruning knife, the
scaling down of interest and an assess
ment on Erie common and perhaps the
preferred, will ever put that unfortunate
company in even a comparatively fair
earning capacity.
There is great deal of good feeling in
the Western railroad stocks and even the
suggestion that adverse leg gislation OF the
past can be remodeled is likely TO exercise
a very wholesome influence since it shows
that the day for doing justice TO the rail-
roads has about arrived.
The earnings OF 81. Paul that will come
out today may not make a most favorable
showing, but 1t is understood that
change for the better has arrived, and
that from this on the ST. Paul, like the X.
l. and c., Is. & O., will make statements
that will complre most favorably with
those of the previous years.
General Financial Notes.
Liverpool Is now up one point from the
close. The strength displayed by Liver
pool has made our market better, but it
would not be surprising if the situation
was ripe to sell a little cotton now.
Refined sugar was unchanged this morn
ing, ard there was an active business.
Raw is dull, entirely nominal and un-
changed.
The opening OF the stock market was
quiet but firm, st. Paul advancing
sharply on the reports of its earnings for
tho first week of December and Erie rally
ing on the Drexei- Morgan circular and
the absence of the proposed assessment.
Liverpool already shows sight OF weak
ness and 1t is thought it was put up 10 get
people 10 buy cotton here. Silver is lower
which affects the price of cotton unfavor-
ably. Look TO see gold exports on Satur-
dsv.
Eastbound shipments at Chicago last
week were i5,433 tons against 81, ,266 for he
same week last year. Michigan
Central carried 2344 tons; WGblsh,
4li5; Lake Shore, 5921; Fort Wayne, 706i;
Pan Handle, 6i5S; B. & o., 3ii1; Grand
Trunk, AIS; Nickel Plate, 4S77; Chicago
& Erie. 5502: Big Four, 1853
An assessment OF 10 per cent. is feared
on Reading.
Advices from Chicago think that on
any further decline today May pork, lard
an RIBS viii be q good purchase for
small turn.
The Morris suit against ID. G. f., is said
to be merely bluff 10 help Morris and
Greenhut covor their short contracts.
Wooiner OF Peoria says Morris and Green
hut party, who were long OF ID. &. f., at
30, are now shore over 100 40 snarcs and
are trying TO get long stock out so they
can recover their stock.
Wheat is very slow but firm. Outsiders
sold some small lots early, which scalpers
bought, bu. are now peddling out again.
"A number Of patches OF municipal bopas
are being placed on the Providence mar
ket now and purchasers find them alb
solutely secure, as cities do not 90 into
receivers' hands and the interest is paid
regularly while the principal II assured
at ma, urity.
Appointment wcybesset street arm has
been given batch of the City OF Nelson
Vile, Ohio, bonds, refunding 6's, OF $1,000
denomination, due in 1904 Interest -
payable semi-annually at the Chemical
National Bank OF New York. The value OF
the taxable property Is si,0O0000, with a
net debt for school purposes of $4,000.
Cotton futures opeued firm; sales, 5000