The Providence news. (Providence [R.I.]) 1891-1906, 1894-08-18
THE FINANCIAL NEWS.
Whisksy Trust Finding Hard Work to
Secure a Loan.
Crop Reports are Bad-London Mar
ket stronG-An Amsterdam Firm
Wants Sugar Agents In United States.


Special 10 the Neins
NEW YORK, Aug. 1S.-It was reported
this morning that ID. c. r. could not raise
money to take goods out OF bond. Bank
ers have been applied TO by a large num-
ber Of brokers, and two loans have been
made with the agreement that Nelson
Morris would indorse notes. This he
refused to do. Goldman Sacks a. Co.,
his brokers, advised him that IL would
ruin his credit, and that the amount was
too large. This big selling was i'm antici-
patton OF this news. There is a story of q
split bet tween Greenhut and Nelson Morris.
This report Is made to affect the stock.
The finances OF the company
ran all right. Several bankers have re-
fused to touch the collateral without
Nelson Morris guarantee.
This mornings crop reports we're very
bad. The crop is ruined in three fourtbs
of the State. The highways are lined
with the wagons of the movers.
London is very strong indeed, st. Paul
being equal to 64A.
An Amsterdam firm OF sugar refiners
has advertised for agents in all large
towns in the United states to handle
foreign brands of refined sugars. Thir-
teen thousand bags of foreign refined
sugars have been taken out of bond in
New York City.
The short interest is pretty well out OF
the market, and failing fresh commission
business to further stimulate trading, a
reaction of to per cent. seems abou. in
evitabIe.
A Chicago newspaper makes the state
ment that Isaac l.. Rice is slated as the
next president of Philadelphia & Read
ing.
The declaration OF dividend of AZ per
cent. at the meeting OF the directors OF
Burlington a. Quincy was general sur
prise. 1t now remains to be seen what
effect the declaration OF this dividend will
have on the Granger stocks.
There Is nothing new in the situation in
General Electric. The stock, ii is claimed,
Is being bought freely on the conviction
that the decline in the price more than
discounted the financial troubles the COM
pany went through, and recovery has
finally set in.
The Market Openings.
Bg The Associated Press
NEW YORK, Aug. 1S.-The stock market
opened higher; Atchison 65h; Sugar
10Sh Distilllng 49,; General Electric
42A Chicago Gas 75%; Burlington 76;
Rock Island 6SA; st. Paul 65h; North
west 1851; Louisville dh; Western
Union S9T.
The Early Movement.
BD The Associated Press.
New YORK, Aug Is, 10:15 a. m.--The
stock speculation opened in good tone,
and as a rule the first prices made were
fraction above the closing prices OF yes
terday. In the early trading further
advances were recorded, and at this writ
ing st. Paul & Omaha is up per cent,
Baltimore & Ohio and Denver& Rio Grapde
preferred "a; Union Pacific and G. &. G. q
st. Louis *; st. Paul, Sugar, Atchison.
Reading and Canada Southern y, and the
rest of the list smaller fraction.
Distilling was an exception, opening u
of, rally ing 1A and reacting 1Ih. The
market is still strong.
Cotton Market.
Bp T7icASoc;d:cf Press
New YORK, Aug. 1s-Cotton futures
closed dull; sales 900 bales. August, $500
bid; September, $3.50 bid; October, S6.72
bid; November, S6.79 bid; December, 1886;
S6.91; Febrary, S6.9S bid; March,
81 "a bid April, &7:11 hid May, S7.1z hid;
June, s7.21 bid.