The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-31
FINANCIAL NEWS.
Sugar Better Than II looks-London
Materially Higher.
Bear Movements ON the Wane-Uncer-
tainty as to Gold Gossip
of the Market.
special 10 Theye,ps.

WALL STREET, Oct. 3l.-The general
stock market opened dull and firm. New
Jersey Central was in request aud
advanced 1h to o. and Delaware
Sugar quiet and developed weakness and
touched S3A, loss of l per cent. and
Lake Shore lost similar amount. The
pressure against Sugar has not as yet af-
fecsed the geferai market and prices are
Well maintained.
Cotton futures opened steady at the de-
cline; sales 5i00 bales. Nov. 5.4s bid,
Dec. 5.6z, Jan. 5.57, Feb. 5.62, March 5.67,
April 672 bid, May 5.7S, June $50 July
5.SS, Aug. $50 bid.
Sugar is supposed to be better than 1t
looks and the insiders are not afraid of
buying 1t in quiet way in spite of the
fact that the apparent tendency is
for it TO fall off. The Havemeyers
are supposed to be picking up the
stock again and the statements made be-
fore the Senate investigating committee,
that in three years the Sugar Trust had
made, net profit, S30,000,000, has not
been forgotten. just as much
significance Is attached to that
$ atement concerning the finances and to
the fact that the Havemeyers are buying
as there is to the talk about the shutting
down OF refineries and lack of business.
The London market is better with St.
Paul * higher and the rest of the list
from X TO q higher.
The report OF st. Paul's earnings is ex-
pected today and good showing Is looked
for
Chicago Gas is good for par.
The large transactions In Jersey Central
and Delaware Il Hudson yesterday
strengthens the belief that the raid in
them is over. They should be purchase
especially after little working off.
The general list is awaiting develop
ments as TO gold shipments, and there is
nothing in the way of excitement in the
the market.
The traders are bearish again on Sugar
for turn.
Review OF Yesterdays Market.
London prices came in practically un-
changed and our market opened very
feverish and irregular with considerable
first dealings the raid on the
coal shares was continued with the
result of establishing the lowest
prices OF the present movement for Jersey
Central, and Delaware ~ Hudson and the
bears were also active in New York Gen.
tral, the dealings In that stock having
been unusually animated. The Gould
shares, however, were firm in tone and
after the first furry there appeared
20 be better support for the coal shares,
es ciaily for Jersey Central in the neigh
borhood OF 81 and Delaware d Hudson
around 120. There was considerable COW
ering also in the Grangers and Chicago Gas
and the tone OF the market showed de-
cided improvement, but as the day ad-
vanced there was less activity in the trad
ing and during the early afternoon huc-
tuations were narrow and mainly the
result of professional operations.
In the early afternoon there appeared
to be n demand from the shorts for Gen
eral Electric and the coalers continued
firm, but in the last hour a tremendous
attack was made on Sugar which carried
the price down to below So at tue
close. Rumors have been current
for a day or SO OF liquidation by pool ia
Sugar, which had accumulated stock be-
tween so and So, and the course Of the
market today appeared TO indicate that
the realizing had been accomplished and
that the operators were prepared for
lower range of prices. The clos
ing was very irregular and at
but with advances for the coalers, Man
haitian, Chicago Gas, General Electric,
Western Union and the Changers, and
losses for Sugar and some OF the Wander
bilt shares. The common and preferred
stock of the C., c. Z. d ST. l.. was lower
on the passage OF the dividend on the
preferred stock.
The speculation developed some opposi-
tion to the downward movement in the
coal shares, buying orders having been
sent in apparently for both accounts, but
the late decline ia sugar disturbed
the market and at the close
there was feeling of con-
siderable uncertainty. The current gos-
sip indicated moderate exports of gold on
Saturday, although exchange was not
sufficiently settled 10 give q clear indica-
tion of the future. The grain markets
were reported higher both for wheat and
corn principally on covering by shorts.
Providence Clearing House.
The clearings of the banks of Provi-
dence today are SSi2 900.