The Providence news. (Providence [R.I.]) 1891-1906, 1894-04-24
THE FINANCIAL NEWS.
The Labor Troubles Continue to
Cause Uneasiness.
Sugar Drops on Suspicion That the
Trust Has Been Unable to Obtain
Added Concessions i'm Senate Bill.
Special 10 The Ncrs.


NEW YORK, April 24.-London market
comes a to q higher than the close here.
The labor troubles are causing some
anxiety and is the most important factor
in the market at present. There was
commission house realizing apparently
yesterday and much less new borrowing
than was anticipated. Sugar was weak on
a suspicion that the company had failed
to obtain better terms in the Senste bill.
The ID. * G. +. made 1-cent con-
cession in the price to Western dis
tributors. 1t was reported from
Chicago that Attorney General Maloney
would give out his decision today.
stock exchange has prohibited
arbitrage business between cities. The
short interest has no doubt considerably
increased and the market is likely to have
a substantial rally.
The scarcity of stocks in commission
ject of interesting gossip in the
street. This scarcity, which all along
has been admitted, is now said
to result from the fact that rich men not
heing willing to pay brokers per cent.
for carrying their loans, and trust COM
panies being satisfied to carry them for
much less than per cent, large blocks OF
securities are in the hands of the latter
institutions pending the return
OF higher rates for money. it Is argued,
however, that while the offices are bare OF
stocks, the latter are nevertheless
still in the street, but for all that, are not
available for loaning purposes and there
fore of no benefit to the bears.
Bar silver down d. to 29h d. Europe
is doing nothing around their prices.
Secretary Mccullough, of the National
Linseed Oil Company, makes general de-
nial Of the allegations contained in the
Coquard suit for receiver. Coquard
II. lcN H. txxtf
the small holders.
The selling of General Electric yester-
day Is believed to be in liquidation for
the account of the pool which engineered
the recent advance.
The fortnightly settlements in the Lon
don market begin today.
London prices came in heavy yesterday
morning, the speculation there having
been disturbed by the coal strike and
labor troubl here, and the market opene d
weak with declines ranging from "a to
q per cent. Sugar and General Electric
were selected as special points Of
attack the first % named breaking ., 81 ns
and General Electric selling down to 80 on
advance rumors in connection with the
suggestions of a reduction OF capital.
For the other industrials Chicago Gas
was very feverish and the Lead stocks
weak, while in the Granger group business
lower range, especially in the case of st.
Paul. Atchison was further affected by
rumors of an assement on the stock
and N. Y. & N. T.. fiuctuated rapidly, but
finally settled down in the neighborhood
/ of 3 where it remained for the balance Of
the dealings.
I'm the later trading prices rallied moder-
ately from the lowest, especially in the
case of Sugar and General Electric, but
during the last hour the market became
heavy again and in many in
stances final pricee were about the lowest
OF he day with considerable losses for the
Industrials, st. Paul, Louisville x Nash
Vile, Missouri Pacific preferred, Atchison
and Erie. The coal shares were
somewhat affected by apprehension
OF an extension of the strike, and in Phila-
delphia there was material decline in
Lehigh Valley and Traction stocks. Fa-
vorable factors in the situation have been
the large over subscription to the Paris
loan and the demand for City OF Provi-
dence bonds awarded today, but
the labor situation is regarded
as threatening and Washington advices
are not encouraging in character, conse-
quently the outlook rather favors further
reaction. The grain markets were re-
ported active and lower on further Iiqui-
datioD.