The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-14
FINANCIAL NEWS.
Changers Reasonably Cheap and the
Reason Why They Are.
Nelson Morris Makes Some DenIals
Gold Shipments Saturday-Sotes.
Special to The News.

NEW York, Dec. a. - The Granger
shares are, all things considered, reason
ably cheap. The Rock Island people
should sell measurably above their present
quotations. They, as the records show,
have been OF decidedly pessimistic turn
OF mind, but are inclined to take
a more healthy view OF the general situ-
alton. Rock Island sold in the past as
high as 1s0H; this was only in 1887. 1t Is
true that the company paid three times as
much in dividends 1t is now yielding, but
Ii Is equally true that at that time it had
the seven years OF repression ahead of IL,
instead OF as now having The seven years
OF hard times and famine behind ii.
G. b. q. in Jan. 1883, was 1855, or more
than 80 points above its present price. b.
@. will recover the first promise OF busi-
ness. The road, as is we'll known, is TO
the northwestern section OF the country
whal the N. Y. &. is TO the State of New
York.
The friends OF st. Paul ver for one
moment lost faith in their property.
They believe that the dividends will be
maintained and one of the insiders says;
"In my judgment st. Paul will be paying
8 per cent. before the stockholders are
asked to accept anything less than has
been paid during the last two years"
The buying of st. Paul has been par
ticularly confident, and it could be
readily put to 60, IL not higher.
Sugar has had very substantial rise
and is now selling equal to 97,
or O gain of 10 per cent in less
than week. 1t would not
be surprising IT, and in fact some of the
insiders will encourage moderate reac-
tion In the stock. Sugar, however, is all
right, and on any quick secesssions
should be pure hase because il Is destined
10 sell very much above 100 in the very
near future.
Attention may reasonably be called
again TO the continued Improvement of
l.. N, and in quarters where information
Ia not given unless people are very sure OF
the ground il is said that it will do to
buy TN even fractional recession from
these prices.
General Financial Notes.
President Greenhut says nothing, but
routine business was transacted at yester-
days meeting OF ID. c. Z.
Bears are ham mering the cotton mar
ket bere, but are selling very little. They
are in hopes OF getting some long Cotton
10 cover.
Advices from Chicago say that Nelson
Morris denies that his suit against ID. e.
u. for $3.50, COO damages for breach OF con-
tract is bluff. He SAYS he means
business. He denied positively
that he is personally intercyted-
any fight against the Sugar Trust,
having ior its object a reduction of duty
on German sugar in order 10 raise the en-
barge against American cattle and hogs.
Chicago dispatch says there Is no truth
in the repor. that tirst-c!ass eastbound
passenger rates out OF Chicago are becom-
ing demoral!zed.
The stock market opened firm without
any changes Of importance. For the frat
time In many moons, Sugar opened
as it closed the day previous,
the stock then receding 4 and advanced
z TO 9ih, Canada Pacific sold up 2h TO
60h, Oregon Improvement, l, Denver and
Rio Grande ss, and the general list a
smaller fraction.
About 1915 Chicago Gas evinced weak
ness and declined y. Sugar 10 { similar
fraction and Distilling x, but the general
list was held steadily at this hour.
London is Il better.
The directors of II. c. & /. voted to sus-
pend future sale, OF Iron a present prices.
There was good buying OF stock yester-
day.
An advance in distilled spirits is ex-
pected.
The Secretary of the Treasury has in
structed District Attorney McFarsne 10
brings suit against the Lead Trust for the
recovery OF $500 said to have been un-
lawfully obtained in drawbacks upon i'm
ports OF pig lead which were found 10
have never been really imported.
The market promises TO continue
strong and work higher, but on very
strong spots taking profits is advised.
Liverpool was one point of, but sec
ond cable states that that point and an
other half were regained. Market steady.
Wheat opens barely steady at put prices
and there is some long Wheat coming out.
While The market shows considerable
weakness any further decline will bring
good buying against weekly puts.
There IL a possibility of another fight
against the New Haven II. r.. before the
incoming Legislature. Business men of
New York nre still very bitter against the
Consolidated and It's arbitrary acts and
actions.
The plans Of the New York extension
OF the New England road have not been
abandoned. and as soon as tho road IL out
of the receivers hands action may De
taken TO gain q foohoid in New York
city.
They have been feeding Sugar out all the
forenoon.
Three and ope-half millions OF gold so
far for export. The decrease in the gold
balance Is making considerable talk and
the tendencyis to shake out stock. Ad-
vantage ought to be taken on rallies to
sell stocks.
A Boston special says Kidder, Peabody
q Co. will ship 100000 by Saturdays
steamer.
The New York News Bureau says Laden
burg, FhalfasaH a. Ce--wilL ship $500. 900
Saturday.
Review Of Yesterday I'm Brief.
London Prizes came in fr1ctionGlly
lower and our market opened somewhat
Irregular, tut socn sticag; hened under
the lead Of Sugar, Chicago Gas, the