The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-03
FINANCIAL NEWS.
Sugar Stock Rallies on War Talk in
England and France.
London Lower Because OF the scare
The BSokers Betting ON Morton for
Governor--Lailroad Losses.
Special to The News.

Special 10 The News.
NEW YORK, Oct. 3.-The rally expected
yesterday as the natural sequence OF an
oversold market, did not come because of
the depressing effects of the continual
decline of sugar stock and the big sales OF
the large holders. The decline was from
S8A To S3k and when speculation
ceased yesterday afternoon there was no
telling at what point decline would stop.
But q special cabinet meeting was called
in England to discuss unpleasant rela-
tions with France. War rumors, un-
doubteily exaggerated, were the imme-
date result, and the effect to-day has
been q rally in the New York stock mar
ket of the general list and Sugar had gone
up to S55 before noon.
London is a lower today because OF the
special cabinet meeting.
Northern Pacific preferred will not war
rant bulling, one share OF Ontario AZ
Western is worth two of the Northern
Pacific.
Bear talk on General Electric is pro-
nounced.
Morton for Governor is the favorite in
the betting on Change.
The Whisky Trust owes over - ,000, 900.
Liverpool cotton demand good with
prices steady. Estimated sales of 1900
bales. Futures are steady with good de-
mand at y up.
The decrease in Atchison earnings for
the third week of September was s1S2, ,354.
The decrease in st. Paul for the fourth
week in September was sl7I,000. The
stock is good purchase on any moderate
concession, because of the overselling of
the market.
Review of Yesterday in Brief
London prices came in fractionly hig her
and our market showed fractional inn
provement except for Sugar and General
Electric, business, except in the first
named and one or two of the Industrials,
being very restricted in volume. Chicago
Gas improved considerably after the
opening. probably on covering by shorts
and there was also better demand for
the Changers led by {. b. & O., and also
for Western Union. General Electric,
however, was very heavy on sales gene
rally credited to A. j. We'll, and in
the case of Sugar the selling movement
continued throughout the day ex-
cept for a slight rally, which was engin-
eered by the Wormser party. The move
ment in Sugar was so extensive and per-
sistent that there was little or no interest
in the balance OF the list, and the ten
dency towards improvement, which might
have been developed on the exist
Ing short interest, was held in check
by the steady outpour of stock
in sugar, which appeared 10 come from
very large inside interests. Ihe standard
Oil Company was quoted as having dis
posed of round lot, and various predic-
tions were heard in the Street from
parties who were supposed to be close to
the Sugar movement OF very much
lower prices in case Congress de-
termines to remove the X per cent. differ
ential on refined Sugar. Towards the last
hour the price rallied about per cent. as
already noted on purchases by the Worm
sers,s but before the close the selling
movement was resumed and the last price
was the lowest of the day showing a net
loss OF 39s per cent. Fer the
balance of the list G. b. * @.
was made point of attack which had
the effect of wiping out all the early inn
provement, but elsew here the dealings
we're on a small scale and final variations
were as a rule unimportant. Fractional
gains were recorded in Western Union,
Chicago Gas and Rock Island and losses
in General Electric and Lead. ID. &. Il.
and st. Paul were unchanged.
Providence Clearing House.
The clearipgs for the Providence banks
today amount to S09,36547.