The Providence news. (Providence [R.I.]) 1891-1906, 1894-03-01
THE FINANCIAL NEWS.
The Decrease In Atchison Earnings
Is Very Disappointing.
The Covering by Bears Still Continues.
A BullIsh Feeling ON Railrosd
Stocks-Gossip of the Market.

DVtCtut W tftt 4ftbos
NEW YORK, March 1.-The modifica-
tons OF the Richmond Terminal plan Will
be published I'm few days. 1t contem-
plates an assessment OF $40, for which 70
per cent. in bonds and 70 per cent. in pre-
The guarantee syndicate will
OF active and strong members. The con-
tinued decrease in Atchison earnings Is
disappointing as the question OF earnings
is an all important one in the readlust-
ment plan. Insiders in chicago Gas
predict an advance. The New York Cen
trail advanced on shorts and report that
the company Is economizing more vigor-
ously than ever. London prices are about
the same as the close here. continuation
OF the short covering OF yesterday is
looked for today and consequent higher
prices. The covering Of outstanding con-
tracts by the bears which com,
menced on Tuesday was continued
yesterday and this morning. This witt
the more bullish feeling on railr BAD stocks
both here and abroad brought about a
further advance in prices ana closed the
market yesterday at higher range than
on the previous close.
Gossip of the Market.
London is selling Louisville a Nash
NAiits ohOhso SONtAhSs 'N@N . -
sold 1000 sugar.
Lederburg and Wormser large sellers of
Louisville * Nashville and London also
large sellers.
The exchange market is too narrow to
predict any large movement OF specie
abroad and IL Is dou btful whether any en-
gagements will be made by this weeks
steamers.
The bulls are very much encouraged by
| the prevailing scarcity OF stock.
The belief Is entertained that the next
decline in the market will be led by Chi
cago Gas and Whisky. Both act as
though they were only awaiting an excuse
! to tuLible.
| The market is becoming broader. There
is not only an absence OF liquidation but
| some disposition TO advance specialties.
| While no great or extended activity Is to
be expected until Washington legislation
| is clearer, yet the outlook is steadily i'm
| proving.
The New York News Bureau says: "The
committee appointed by the floating debt
holders and the emergency debt holders
OF the Richmond * Danville road, have
made the following settlement with the
| Richmond Il West Point Terminal
Company committee. The floating debt
Srnooa w pc and ntere, sa Gp n u sna tSs
emergency loan will be purchased or ex-
| changed, principal and interest, for the
new bonds to be issued under the amend
| ed plan. Dow Jones says: "The Reading
railroad deficit for January was $303, 1853, a
decrease of S151 200; coal and iron deficit
1884, ,191, a decrease of s64,795.
Yesterdays Market.
London prices came i'm firm yesterday
morning and the local market opened
frsctionally higher with no special change
in the volume Of business, but transact ions
L~tx a t..k I'D 80 4, he ~ Tl.a
news in sugar appeared to be favorable in
character, but the bulls were disap-
pointed in the movement of the stock, the
tendency being rather toward lower
range, although in the course OF the day
there was very little change from Tues
days closing. For the other Industrials
| Whisky and Chicago Gas were only barely
steady, but General Electric was
exceptionally strong at steady improve
ment, brokers in the crowd attributing
| the purchases to Drexel- Morgan interests
For the other active shares Western Union
was perhaps the principal feature on buy
ing, credited to $. V. White; &. Il. x q
moved up on advices from Chicago that
January net earnings are likely to show
an increase, and there was sharp demand
for New York Central proceeding proba-
bly, from shorts.
In the afternoon trading marked fea-
ture was the inquiry for Richmond Term
inal securities of all classes on the ex-
pectation that the reorganization plan
will shortly be declared operative
Considerable importance was attached tC
this movement, not only because ol
the magnitude Of interests, but because
the street assumed that it must be re-
garded as an indication of improvement
i'm general conditions. The closing fol
the general Inst was firm with considerab bls
gains for General Electric, the Gould
shares, Vanderbilts and Changers, but
wheat was weak with final prices the low
est of the day.
While much of the advance i'm stocks Ii
attributed to shorts there appears to be q
better feeling, both here and In London
with more disposition to make purchases
on the reactions. Adyices from Wash.
ington, however, are still conflicting, and
the tariff continues to be an unknown
factor in market calculations.
Brook, Strong q Co., and Haligarter
bought General Electric. Barnes, gooc
buyer, and Henry Bros. bought Western
Mimi.
A LIVERPOOL Failure.