The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-24
FINANCIAL NEWS.
A Big Canadian Loan Of $3.50, 900
Pounds.
The Exchange Market Is FirmANo
Gold shipments Made-The Railroad
Earnings.
special to The Ne,os.

NEW YORK, Oct. Z4.-lhe stock market
opened firm. The early sales resulted in
no material changes recorded except that
Tennessee Coal was weak and dropped 2
per ceut. TO IA with q subsequent recovery
to 10. Bay State Gas eased of IA to 2lA
and is now quoted at 2lA.
The Bank OF Montreal today issued
Dominion of Canada loan OF c., ,25O, 900 in
3per cent. inscribed stock, repayable In
1888. The minimum price was So. The
money is 10 be used for paying the floating
maturing debt, and for enlarging the
canal system.
Cotton, futures opened steady. Sale
$500 bales. Nov. 5.5S; Dec. 5.64; Jan. $40;
Feb. 5.74; Mar. 5.79; April 5.s4 bid; May
5.9l; June 5.96 bid; july of'd 6.02.
The New York News Bureau says that
the Union Trust Company will pay the
coupons due July /, 1894, OF the Union
Pacific Railroad Company's collateral
trust o per cent. bonds.
The bears say they are not yet through
with Manhattan.
The decrease in the earnings OF Atchi-
son, all lines, for the second week in Octo-
ber was s176,9ls.
London is unchanged, although st. Paul
earnings are much larger than were ex-
pected. The gross decrease for the month
will be $4,000. The decrease for third
week OF October is s247,6
The Sugar litigation relative to Trusts
requisition of the various Philadelphiasre
fineries came up in the U. S. Supreme
Court today.
The Reading reorginezation scheme of
the Oicott- Earle committee has been APP
proved by the master and the court is ex-
pected TO confirm mis- decision. The plan
will probably be put in operation topior-
row.
There are evidences of inside buying of
Sugar. One faction is still bearish, but
il looks as il the Havermeyer people had
been picking up considerable Of the
stock.
Corn opens higher on the buying of
May crop by comm ission houses.
Provisions are weak and lower on heavy
run OF hogs and q home market at the
yards.
The exchange market is good and the
bal kers say that they will get through
the week without gold shipments if pos
siDle.
A drop is predicted for Chicago &
Northwestern.
Review OF Yesterday I'm Brief
London prices came in shade lower
and our market opened irregular with
dealings unusually limited even for these
quiet times. The most important
feature of the early trading was
quite an extensive covering
movement in Manhattan which car
ried the price from 1919 to 1861, and
there was also considerable buying of SUI
gar which appeared To be mninly cover
ing by shorts, although points were
industricusly circuiaed about the
street that insiders were again taxing
hold of the stock. Northern Pacific
preferred was decidedly heavy in tone
from the failure TO place the s5,000,000 re-
ceivers' certificates, and elsewhere the
tendency was rather toward lower
range in spite OF momentsry strength in
ST. Paul.
Posted rates for exchange were ad-
vanced indicating the probability Of gold
shipments on Saturday, but aside from
this there was almost nothing in the
shape of news or rumor to influence
the market in either direction.
In tho early afternoon trading came
ahhOob W SeciuhtDt. tuc OHlJ lutcttSb
being in Sugar, which lost all the early
advance, and in few OF the leading spec
ulstives, notably Northern Pacific pre-
ferred, where W. ID. Wheeler was an active
seller. The closing showed no significant
changes aside from an advance OF Ia in
Manhattan ana tiecline OF ~ in
Northern Pacific preferred. Elsewhere
variations were fractional and generally
below the opening futures.
The speculation urifted into ex-
treme duInoss and there was nothing
20 afford clue as to future
turns aside from the exchange market
and the general sentiment existing as to
the outcome of the Novem ber elections.
Sugar continues to be the leading specu-
lative feature, and turns in this are not
unlikely to give direction to the general
market for some days 10 come.
Providence Clearing House.
! he clearings OF the banks OF Provi-
dence to-day amounted 60 sS3s 900.