The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-15
FINANCIAL NEWS.
Sugar Expected to Rally, and Then
a Sale.
CIeyeIand Denies That Carlisle 10 "a
Leave the Cabinet-LondonF Fraction
ally MISREPRESENTATION Dull.
snecIal 10 Tho News.

Special 10 The News.
NEW YORK, Nov. 15.-Speculation on
the stock exchange IL dull this morning
and there have been very few changes OF
e and fell Of q, Manhattan rose and
receded ~. Alton & Terre Haute sold up
! per cent. and Tobacco declined u per
cent. Market quiet but firm.
London is frsctionally higher:
The most important piece OF news on
Wall street is President Clevelapd's de-
nial that Secretary of the Treasury Car
Isle will leave the cabinet.
The bears are trying to create the I'M
preston that the next dividend on sugar
Will be on q basis OF 3 per cent, and they
are covering this morning under cover OF
these rumors. There is too much com
pany on the bear side and . rally is ex-
pectsd as the logical result.
The short interest is increased and
traders says that there will be an advance
in prices as soon as the break in Sugar Is
over.
The Chicago packers continue~t to buy
January pork. There il very little stun
tosell.
Cotton futures opened steady; sales,
1900 bales. December 5.44, January 5.49,
February 5.55, March 5.56, April 5.67, May
5.74, June $50, July $50, August SOL.
The Wool Market.
The sales this week indicate moro ac-
tivity in domestic wools. A better feel.
manufacturers, as the considerably-in-
creased inquiry shows. There 10
more wool selling, and while there
Is no quotable change in rates,
there is less disposition to shade prices in
order TO effect sales the market appears
TO US to be firmer than a week ago-this
we think may safely be accepted
in ranarH n k1nAa nf dntnRa-
tic wool. Some users OF stock who
a fortnight ago evinced no esgerness to
accept offers Of wool at the ruling rates,
have this week quietly closed bargains for
the same or equivalent lots. A fair busi-
ness has been done in Australian, as the
record indicates; other kinds OF foreign
wool have been very slow.
The sales of the week amount to 2, ,103, 900
pounds domestic and 667 500 pounds for
eign, making a total of 2,770,500 pounds
against total of 2,367, 500 for the previous
week, and total OF 3,l63,50o for the cor
responding week last year.
The sales since Jan. !, 1894, amount to
127, $50 pounds against 104, ,295,OO0
pounds year ago.
The sales in New York amount to 21S, 800
pounds, and in Philadelphia 723, 800
pounds.
Yesterdays Market Reviewed.
Government bond issue fell fiat in London,
the prices there showing fractional de-
clines for all the sar bitrage shares,
and tour market opened lower in SYM
pathy with the business, however,
centering chiefly in Sugar and
tho Granger shares. Tho Cammack-
Mheeler party were reported to have been
very active at various points throug the
list and s. V. White was also be-
lieved to have been q large seller of
Sugar on rumors which were
credited in some quarters that the next
dividend will be at the rate OF per cent.
The bears continued to hammer the mar
ket during the early dealings, Sugar and
the Grangers showing the greatest loss,
but Western Union also lost yesterdays s
advance and in the early afternoon Man
haitian was taken in hand and offered
down partially on tue statement and par
TALLY on the news that Mr.. j. r. Morgan
had resigned from the directory. Mr..
Morgan was quoted as saying that this
action was taken some time ago, but as it
was not known to the street, the effect
on the stock was decidedly unfa-
vorabe. In the last hour Sugar
rallied about 1b from the lowest
point, but before the close became very
weak again under the concentrated sell
ing and closed heavy al net loss OF 31s
Material declines were-also recorded in
the Changers, Coalers and Gould shares,
the selling OF the last named, however,
having been ascribcd to shorts.
The speculation was undoubtedly a dis
appointment to the bulls who expected
that he combined effects of the election
and q Government bond issue would
stimulate purchases, but aside from
moderate buying in London, there was
no perceptible increase in public interest.
Providence Clearing House.
The clearings of the banks of Provi.
dence today amounted to SStS, 300.