The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-02
FINANCIAL.
Treasury Statement Of the
Public Debt.
Special to The News.

NEW YORK, Nov. 2.--Ths London market
has gone up about * per cent.
The Schenectady plant OF the General
Electric Company will send some w6fk to
the Thomson Houston works at Lynn,
Mass, SO as to relieve the pressure ut the
former place.
The treasury statement shows net in
crease in the public debt OF 1860, ,s53
during October. The treasury balance is
S107 $40, 146. This il the lowest In some
time, and after election bond issue will be
necessary until the receipts improve.
Free gold S61 1861 1886.
Trade news in sugar il all bad; still
stock remains strong.
The market will do better today and
discount the election.
Henry Brothers sold sugar down to So
and Content offered IL down to 85ss buy
ing scattering.
The market In oversold and the bears are
inclined to cover. The rnmor about the
reduction of the Northwest dividend Is
attributed to the bears, who formed some
long stock coming out.
Review of Yesterday in Brief.
The London market being closed no
quotations and very little trading came
from that quarter, and prices opened about
steady with considerable irregu-
larity in the trading. The stories
current as to the deliveries OF
Northwest in the name Of prominent
banking houses were contradicted and the
stock developed a better tone throughout
the day, while in the case of the coalers
there Vas considerable covering and In
spite of the number of bear raids at various
periods the tone of frmness was well
maintained.
9. 3. q q. and st. Paul were made DO ints
of attack by the bears, who appeared to
be anxious TO establish lower range Of
prices in order TO cover q portion of their
holdings, but Sugar developed unex-
pected strength and closed at the
top price after day Of active
trading. The movement in Sugar is gen.
orally ascriDed to shorts covering, which
was thought to have been based on the
idea that the next Congress will be Re
publican, and on this account insiders are
ings after election day.
The death OF the Cgar was made the
basis of bear attack with the expeote-
tion that London Will come in lower to-
morrow, but the movement was net alto
gether successful as the bears ex.
hibited considerable nervousness, and
as already indicated, appear to be
ready TO cover their shorts whenever op-
portunity offers. The exchange market
was quoted Arm, but there was still no
definite Indications as to whether further
gold would go out on Saturday or
not. The closing showed gains OF some
importance for Sugar, Northwest, Mau-
haitian, ID. l.. n W., and N. j. Central,
and fractional advances for the Grangers,
Chicago Gas and General Electric.
The speculation was influenced largely
by political considerations, certain para
graphs in Mr.. Harrison's speech being
interpreted as meaning that the Repub-
ffcaus witt strongly Oppose further
tariff legislation at the last session
of the present Congress. The speculation
is still a narrow one, however, and il is
doubtful II any important movement can
be insugurated until there Is visible i'm
provement in the general railroad and
business situation. Should the upward
movement come it is likely to be directed
against the short interest which a. the
moment is thought to be important in
most of the active shares.
Cotton futures opened steady; sale 9
7400 bales. Nov., $40 bid; Dec, $50; Jan.
5.54; Feb, 5.59; March, 5.65; April, $50
bid; May, 5.75; June, 5.S1; july. 5.s5;
Aug. offered at 5.91.
The coal shares recorded the greatest
advance, Delaware Il Hudson coming up
1-4to 125 and NJ. J.C.34. Most of the other
issues traded IN ranged higher, notably
Pacific Mail "a, Northwest q and West
ern Union, Manhattan, Louisville d
Nashville, Pittsburg q Western prefer red
and Susquehanna * Western preferred u.
Sugar has been an exception and broke /
market, except Jersey Central.
Providence Clearing House.
The clesrings of the Providence banks
to-day amounted TO s965, 500.