The Providence news. (Providence [R.I.]) 1891-1906, 1894-08-08
THE FINANCIAL NEWS.
Belief Gaining Ground That There
viii Be no Tariff Bill.
Sugar People Relieve That Their In
terests Are F"iiy Gossip
OF the Markets.



NEW York, Aug. 3. - Traders ham,
mering Z. b. a. q. on report OF no rain
from corn region. Boston tried to sell &.
b. Il O., but there was little market
there. sheldon d Livingstone bought
some, Benedict sold 1900 Sugar, 70 has
been bid for 1900 &. b. a. q. Boston sold
G. b. d q. for II.
Lead Is good 80. Both Sugar and st.
Paul are being bought, will probably sell
of moderately but no very formid-
able declines looked for. Looks rs
IL there would be no bill
this year, so all Industrials should do
better. Hold Louisville & Nashville and
Gas. Don't attempt TO catch turns on
Corn or you will lose the stock. IT is on
the road to par. No rain In the corn
belt.
Active business prices unchanged. Sales
East 1900 bales. Futures steady; de-
mand moderate; about u decline. Sugar
should be sold on all rallies.
London prices came In irregular yester-
day with slight declines for St. Paul and
L. Il N, and the market opened generally
lower in sympathy with the bearish
feeling generally prevailing in view
| of the uncertainty at Washington
and the gloomy talk from
| Chicago in relation to the crops. In the
| first dealings the bears made q further
| demonstration In C., b. & O., carrying the
| price down to 20 on comparatively large
| transactions, and there was also q selling
movement of some Importance in ID.
| &. Il f., based on rumors that the
conflict In the conference commit
| tee would result in no tariff bill
at the present session. At other points,
however, the market exhibited surpris-
ing degree of firmness with Covering by
shorts, important features being Chicago
Gas, l.. a. N. and TO some extent the
Changers, but there was no special activity
until the last hour when Sugar
took characteristic squirt to
above 107, and the general
list moved up easily in sympathy. There
was directly no news from Washington to
account for the rise in Sugar aside from a
vague rumor that the conferrees in caucus
would decide to support the Senate bill,
but this was not confirmed and appeared
to be regarded with suspicion
by the traders in the stock.
Sugar closed at an advance
of / * per cent and considerable gains We're
also recorded for Chicago Gas, Lead, the
Gould shares, the Changers and some OF
the specialties. The corn markets were
very strong and excited during the day
the principal feature being an advance in
the price of corn which carried it higher
than wheat for the September option.
Late advices from Washington yester-
day indicated degree of intense excite
ment concerning the House caucus and
tariff matters generally, but there was lit
tie in the character of the dispatches
H - n. A<. otr
left in the dark as to the outcome. To-
days developments will be watched with
interest, especially as the shorts show
signs Of covering rapidly on receipt Of any
news apparently favorable to the bull
side.
Gossip of the Market.
Randolph, Kitchen, Hodges and J. w.
Davis sold Sugar. Potter & Hick Bros.
bought. j. Mamory bought Northern
Pacific preferred; thought to be covering.
Henry Allen and Kitchen sold Sugar at
opening, Potters and Scattering buyers.
w. &. Sheldon bought Western Union.
Weakness inexchange and general feeling
that tariff matters will result in the SEN
ate bill or nothing forced shorts
to covering late yesterday. The
Iowa and government crops d#e-iH
day or 80 are awaited with interest
London strong at gains ranging from X
10 * and bulls are predicting further
rally, at least for early dealings.
Sugar Opened Weak.
Bu The Associated Press
WALL STREET, Aug. S.-10:15 A. NJ
Sugar has been the feature OF speculation
this morning, opening * lower and max
ing further decline Of q TO 1904 on every
heavy sales. Burlington & Quincy was
also depressed and receded q the rest oi
the active shares sagging off h TO q pei
cent. The weakness was, however, oI
brief duration end general advance took
place, Sugar recovering *; Cotton Oh
pfd., selling mp per cent; Louisville q
Nashville and Erie & Western Union J.
aud the market generally a smaller frac-
tion. Speculation is now firm except IL
Burlington d Quincy, which Is still weal
aud moving downward.
Market Openings.
Bv The ASsocid,e.i Press
NEW YORK, Aug. s.-Thc stock marke
opened irregular with Sugar at 1861
Distilling, 1881 Chicago Gas, 75; Burling
ton, IL; Rock Island, 63s4; st. Paul, 59h
Northwest, l04; Louisville, 40; w. u, S6h
Cotton Market.
BIZ Tic Associated Prcs&
NEW YORK, Aug. s.-Cotton future
opened steady at the advance; sales $50
bales.
Sept, SOL; Oct, 6.7l; Nov, $50; Dec
6.S6; jan, 6.93: Feb, ZOO; March, 7.06
April, I'll; Nay, 7.l6 bid; June, 7.2l bid