The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-26
FINANCIAL NEWS.
The Attack on the Coalers Continued.
London Market Unchanged - No
Gold Shipments--Gossip

NEW YORK, Oct. 27.- Except for the in
creased bearish feeling against the coalers
because Of the failure to maintain re-
stricted production, the market Is dull
and speculation hinges on the question
whether there will or will not be gold
shipments this week. The bankers say
that there will not be.
The United States Cordage Company
has resumed operation at its Chicago
plant.
General Electric is buy on any decline
asd 80 Is Chicago Gas.
The effort to break the coalers will
probably be made again tomorrow but
no long stocks are coming out.
The advance ordered by the coal agents
Is of no consequence rs the production ~
not restricted and the prices are now 80
to So cents per ton lower than they were
last year.
The increase of Lake Erie & Western for
the third week in 0ctocer was 1916, and
for the Southern railroad $3i 800.
London is unchanged.
Il. X. Cheney has been appointed chair
man Of the Atchison board Of directors.
He is one OF the largest stockholders.
A committee of fourteen for arbitration
has been appointed by the Central Traffic
Association, and all disputes will be re-
ferred to it. The association also adopted
n resolution to abolish all free passes on
account OF traffic.
Corn opens a shade firmer with the
trade light. Wheat opens steady with a
moderate demand. Provisions easier.
The pork packers are selling.
Cotton-Futures steady; sales 900.
Nov, SD; Dec, $50; JAM, 6.6I; Feb.
5.69; March, GA; April, 5.79 bid; May,
$50; June, 5.92; July, 5.g7 bid.
Review of Yesterday.
London prices showed scarcely any
change and our market opened fraction
ally lower, but with welcome change
ing yesterday. The interest of
the speculation shifted to great degree
from the IndNstrials 10 the coal shares,
although during the early dealings there
was some activity in sugar and Chicago
Gas, the last named developing weak
ness on sales thought to be by the
regular bear party. In the case
OF he coal stocks an unexpected degree
of weak ness was developed, the theory on
t Exchange being that an attempt had
been made for some days to liquidate
long holdings, and that today the bears
had obtained knowledge OF this fact
and had been instrumental in Offer
ing the prices down. There is a wide
range of differences i'm the fluctuations in
Del. * Hud., ID, l.. g. W., and New Jersey
Central, and although later in the day
there was some recovery based on the
action of the coal agents In advancing
prices, the selling movement in Jersey
Central was resumed during the latter
trading and the stock closed at not far
from the lowest OF the day. The agents
also decided to abandon restrictions.
For the balance OF the list there we're
momentary rallies In General Electric and
Manhattan, followed by slight declines.
and in the case OF the Changers the
principal features were some weak
ness in Northwest, and buying
movement later in the day in st.
Paul and Rock Island. which in some
quarters was credited TO Mr.. Keene. The
exchange market was reported as being
easier and some talk was heard that there
was no immediate chance OF gold engage
ments tomorrow, bat the matter was still
very much ia doubt at the close
of business. Final prices were extremely
Irregular with losses ranging from to
3la per cent. in the coal shares; fractional
declines In the Vanderbilts, Manhattan
and General Electric, and slight gains for
Rock Island, st. Paul and Western Union.
The selling movement in the Vanderbilt
shares was thought TO have been manipu
lated by bear houses to facilitate sales Of
the coaiers.
The condition of the coal trade gave
rise to considerable discussion and is
likely to prove factor of some moment,
but otherwise the situation Is
unchanged and gold engagements
continues to be the principal topic of
discussion. An irregular market is there
fore likely with fluctuations depending
principally on 1 he current news.
Providence Clearing House.
The Providence bank clearings for the
day are 1927 100.