The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-30
FINANCIAL NEWS.
There is Great Excitement in Today's
Sugar.
The American Sugar Refining Com
pany To Receive Another Slap I'm the
Face-Generai Market News.
Special TO The News.

Special 10 The News.
NEW YORK, Nov. 3O.-The stock mar
ket opened heavy, and q brisk sell
ing movement was started III Sugar,
the first report on the ticker being
5000 shares from 50 TO S4 and a
further brake TO S3h was made being a
break of 3% per cent. from Wednesdays
closing prices. The weakness of the stock
was OF course, due To the temporary
shutting down of the trust relneries
and the very bearish talk of President
Havemeyer. Djstilling sold at the OPEN
ing at SK to So for 1000 and receded * ad-
ditionai, making loss of "A per cent.
The sale of Sugar during first 10 minutes
were $1,000 shares, and OF Distilling 500
shares.
The general market declined. Burling-
ton, Northwest and Chicago Gas gave way
Y; Sugar, preferred, 2h; Tobacco, 2lb;
ana Lead, AZ. Bay State Gas rose 81;
Distil!ing, 81 Chicago Gas, AZ; Burling-
ton, 90; Rock Island, COY; st. Paul, 5S;
Northwest. 95A.
Sugar acted as if, with the meeting of
Congress on Tuesday next, another slap
In the face to the American Sugar Refinery
Company will be given.
The dividend on Sugar will be sure TO
be reduced at the meeting next Tuesday.
The meeting of Congress will not help
the stock market, although London Is
firm at an advance of from x to u.
The Chicago Gas Company owns pne-
third OF the interest in the Natural Gas
Company of Chicago and the output of
Natural Gas for the year VIII net 81 600, 900.
All local securities, whether OF New
York or other cities, are likely to fare
better during the next few months
than are the railroad shares. In
time, OF course, when railroad
earned, ana the future looks brighter,
there will be more inducement TO take a
speculative Interest on the bull side of the
Changers.
]. 5. Wormser, Hollins & Co., and
Marquand 81 Skehan were prominent se.-
lers OF Sugar and there were numerous
slop orders and pressure to sell by board
room traders. j. ;. Bache a Co., and l..
Skepp Il Co., scattering buyers.
There was also heavy liquidation in
ID. {. +. norumors of an assessment on
the stock.
Hall & Stighitz sold Sugar and are
principal buyers of ID. &. 4.
The October statement of b. @. shows a
gross decrease of 759,5s6, net, after Chi
cago's decrease of S227, ,l1S.
Advices from Chicago state that the
long drought has been broken in Illinois,
Indiana, Ohio and Missouri and relieved
10 some extent in Kansas.
Sterling exchange closed very strong
and gold is likely TO go before the end OF
year.
AtchiseH, fer HE third weak in -Nevem-
Der, decreased S74,375, and for the whole
system SS1, ,474
The new plan OF reorganizing the ID. c.
+. Co., which is to give for 100 shares of
the present stock 20 in the new company,
then TO have the stockholders pay
$40 assessment, for which preferred
stock will be issued, is sure TO meet with
violent and determined opposition, and it
is not thought that the plan will go
through in its present shape. 1t is prob
ably feeler but it will shake out stock.
Liverpool is one point below yesterdays
close and two TO three points below Wed
nesday's close. Spot demand is poor,
with easy tone. Cotton futures opened
steady: sales $4,000 bales. Dec, 5.55 bid
JAM, 5.64; Feb, $50; March, 5.73; April,
5.7S; May 5.S2; June, $50; July 5.96;
Aug, q.
The Wool Market.
No large single transactions are effected
in these days. Manufacturers are not
buying in quantity, but they are using
an immense amount, so that frequent
small movements make a mickle In a
month. Perhaps this week has been some
what quieter than last, If one judges by
the sales (although the aggregate,
set down Tor the week, TO our knowledge,
does not include all the lots of wool that
have changed hands in the period),
yet Oh its surface the market has APP
peared no less active than It has ordin-
arily presented itself for a month past.
The fact Is, all recent business has
been done in quiet way; when the
largest volume has been transacted, there
has been no demonstrative evidence be-
yond the market report. This season OF
1894 is unique period in this respect as
we'll as on the score OF low prices.
The sales of the week amount to D.
100000 pounds domestic, and 1900
pounds foreign, making total of 2,91g.-
900 pounds against total of 2,760, 500
for the previous week, and total of s.
100000 for the corresponding week last
year. The sales since Jan. 1, 1891, amount
to 100, $50 pounds against 100, 1856, 600
pounds year ago.
The sales in Philadelphia have amounted
TO SS3,SO0 pounds.
Providence Clearing House.
The clearings Of the Providence Banks
today amounted TO So3i, 800.