The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-10
FINANCIAL NEWS.
insiders Give Sugar a Tremendous
'Spurt and Buying is Persistent.
London Prices FractlOnally Higher -
Cotton Futures Steady = Further
Improvement Predicted.



NEW YORK, Nov. 1O.-London prices
came in fractionally higher this morning
and our market opened at slight con-
cession from last mig hts closing, but with
an increase in point OF activity and de-
cided interest In the speculation through
out the list. The tendency towards realiz-
ing which was manifested at the opening
was checked almost Immediately, however
by tremendous spurt in Sugar which
was largely bought by Potter a. 20 and
by other brokers thought 20 be identi-
fled with inside interests In the stock.
The upward movement was undoubtedly
hastened by covering by anxious shorts,
but the buying was persistent through hout
the greater part OF the day, and the ad-
vance undoubtedly stimulated an unusual
demand at other points through the
list. TIE spurt In Sugar was ascribed
TO various causes, the principal one
among them being theory that the result
OF the recent elections will prevent any
tariff action whatever at the next session
OF Congress. This, OF course, would be
favorable to Sugar II such .
supposition is correct, and would re-
move the fear Of hasty action which
has been hanging over the stock for some
time past. Ii was also said that one OF
the Trust refineries had started up and
that others might be expected to follow
before long. For the balance Of the
and some purchases for long account
were the features in the Grangers, Chicago
gas, Gould shares, and indeed all OF the
active speculatives and the close was very
strong at not far from the best OF the day.
While much of the advance thus far re-
corded has been due to shorts covering 1T
II undoubtedly fact that the feeling Is
much more hopeful and In many quarters
further improvement Is predicted, espec-
tally If London follows the buying here.
Cotton-Futures opened steady; sales
1900 bales. Nov, 5.32 bid; Dec, 5.3s;
Jan, 5.39; Feb, 5.45; March, $50; April,
5.55; May, Dol; June, 5.65; July, 57l;
Aug, $40.
The general stock market opened firm.
New Jersey Central was in favor
and advanced 92h, Hooking Valley Coal
gained / to z; Chicago Gas, Rubber
and Sugar u. The latter security soon
became heavy and ran of u. Chicago
Gas lost the advance and New Jersey
Centyal fell back v. The dealings have
the general list 10 firm.
Favorable Cotton Report.
By me Associated Pres,. Z.
WASHINGTON, Nov. 10.-The cotton re-
tnrns of the Department of Agriculture
provement of the prospects IS COM
pared with the returns of last month.
This Is due to better weather and is es :
pecially noticeable in the States of Ala
bama, Mississippi, Louisiana and Texas.
The increase OF the average field per acre
for the entire cotton belt is 1917 pounds,
distributed by states as ,ollows:
North Carolina, 210; South Carolina,
les; Georgia, 1855; Florida, ITO; Alabama
100; Mississippi, 1g5; tuuisinna,- 230,
Texas, 235; Arkansas, 203; Tennessee,
167; and other states and territories, 200.
Providence Clearing House.
The clearings of the banks of Provi-
dence for today are $4,000. The total for
this week is S5,146,000.