The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-04
FINANCIAL NEWS.
Foreign News Will Affect American
Markets.
Bank OF England's Reserve Reduced
Atchison Reports Shows "a Decrease
In Earnings-BuIiish Feeling.


Spscidl to The Nelos
NEW York. Oct. 4.--The stock opened
irregular. Cotton futures opened steady;
sales $500 bales. Oct. g. 81 Nov. 5.95, Dec.
60l, Jan. sos, Feb. 6.10, March 6.1s, April
6.22, May $50, June $50.
The foreign news today Is watched with
interest, as this factor, together with the
future movement OF SUGARS likely TO con-
troll the current speculation. London Is
- lower, narrow and quite firm. The
traders are working for rally in sugar.
The Atchison report for August shows
a decrease of 1896, l32 In gross earnings
and s377, III in net as against the month
of August, 1893.
Bear talk expects Chicago Gas is pro-
nounced. Bulish feeling all round.
Light receipts and war talk in the papers.
Schepps is the largest seller OF sugar.
President Sturges OF the Cordage Trust
says in regard TO the Deering Company's
withdrawal: "It Is ancient history. III
took place about the time the w. >. Co.
made the' deal with the Pearson Co. in
Boston.
Money.
Money on call easy at per cent. Prime
mercantile paper to 5b. Sterling ex-
change nrm with actual business in bank
ers bills at s4S6b to 1867 for demand
and at s4.S5h to 4.3oA for sixty days
posted rates Si.s6h to 4.S7h; commercial
bills S4s4b to 4.S4A. Silver certificates
62b; no sales. Bar silver SO. Mexican
dollars 51A.
Government bonds firm.
Bank of England.
BY The Associated Press.
LONDON. Oct. 4.-The weekly statement
of the Bank of England issued today
shows that the total reserve has decreased
e. ,11O. 900: circulations decreased ES54,
900; bullion decreased el, l,256,00O; other
securities decreased f19S, 600 The pro-
portion of the Bank of England's reserve
! to liability. which last week was 7O.6t
per cent. is now 6s.1o per cent.
Japanese Loan Proposed.
By The Associated Press.
YOKOHAMA, Oct. 4.-The Japanese Gov
ernment has decided upon raising
| foreign loan, the amount of which is moi
| yet known.
Review of Yesterday in Brief
In consequence of the reports of a hastily
summoned cabinet meeting in Londor
and rumors of difficulties involving Eng
land and France, the arbitrage shares
showed fractional declinesIaDd our market
| opened lower in sympathy especially To-
st. Paul, l.. * n. and other OF the active
! shares. London was reported TO have
been a seller of arbitrage specialties dur
|
amount OF their sales having been esti
mated in some quarters as high as 1900
shares, but the interest of the specula
tion shifted very quickly from these group
TO Sugar which again became the principa
feature of the speculation and continued
SO throughout the day. The first move
ments in sugar indicated further raid
but much TO the surprise OF traders ther
was a sharp turn on the shorts, based OF
buying by inside brokers and the pric
was rushed up rapidly to very near tn
opening figures of the day before. Thi
having been the first turn of importanc
since Sugar began to break, the stock wa
easily absorbed by the traders and ther
was perhaps some absorption for lon
account, but in the last hour the bear
took hold again and offered prices dow
TO with "a per cent. of Tuesdays clos
ing.
The balance OF the list generally fol
lowed the movements in Sugar, althoug
Chicago Gas after an early break recoN
cred good portion of the loss an
the Changers held very steady afte
the first morning rush. The clos
ing showed surprisingly small change
the only variations being fractional gal
in Sugar and fractional losses in Chicag
Gas, Rock Island Western Union. III
grain markets advan ced early in the da
but reacted later on sales TO realize.