The Providence news. (Providence [R.I.]) 1891-1906, 1894-09-29
FINANCIAL NEWS.
An Assessment to Be Levied on
Whiskey.
Sugar Receivers Little - Wheat
Strong London Higher - Chicago
Gas Declares Dividend.
Bv The Associated Press.

NEW YORK, Sept. 29.--The bearish feel
ing in the industrials has affected the
whole list, but late yesterday the bears
found the short interest excessive and be-
gan covering. The rally in these Is likely
to go further, but they must be consid-
cred as distinct from the balance of the
list.
1t is rumored that ID. c. F. is 20 be as
sessed $40 per share.
The report that six millions had been
raised in New York for the backing OF the
Universal Gas Company of Chicago Is not
true. The stockholders will advance
half million and no more. The company
has not yet received its permit from the
city to construct mains.
Wheat is strong and higher. The local
crowd has IL for sale at 53H against calls.
London Is X better.
The Sugar Trust has suspended half the
employees in one of the Williamsburg re-
fineries, and il Is supposed that the have
meyer and Elder and the Brooklyn plants
will close down next week. The usual
output has been reduced 20 per cent.
The declaring of regular dividend on
Gas trade speaks we'll for the retail busi-
ness.
A friend of Senator German has offered
to bet $1,000 that sugar will be on the free
list by March 1.
Cotton futures opened weak; sales 94OO
bales. October, SOS; November, 6.0l;
December, 6.06; January, Gil; February
6.17; March, 6.23; April, $40; May, 6.33;
June, $40.
In payment of the interest due October
1, 1894, on United States registered per
cent. consols of 1907, the Treasury will to-
day mail 26, ,S32 checks, aggregating S4O,-
S45.059.
Review of Yesterday I'm Brief.
London prices came in slightly firmer
and our market opened irregular with
little interest in the trading except In the
case of the Industrial shares. The first
sales Of Sugar were watched with the ut
most interest, the stock selling freely
at 80 and then recovering, prob
ably on stop orders and purchases
to cover sborts. Shortly after, n owever,
the bears made another tremendous drive
carrying the price down to Ssla before
support was encountered. After consider
able variation between SO and 80 there was
rally late in the day and the final price
showed a gain of "A per cent. from yester-
days closing.
For the balance of the list Chicago Gas
was noticeably heavy in the early deal
ings, and G. b. * q. was pressed for sale
Notwithstanding the increased earnings
for August. In the early afternoon st.
Paul and General Electric were made
special points of attack by the bears and
during the last hour on the recovery ID
from the lowest and there was some
improvement in the tone of the market,
based on Chicago estimates of Q larger
corn crop than have been generally ex-
pected. The closing was very irregular,
with losses in G. y. d q. and the other
Changers, General Electric and Western
Union, and slight gains for Sugar and ID.
C.F.
The outlook appears very irregular, al
though at the moment 1t Is not unlikely
that covering by shorts may rally prices
further. 1t was stated by the news agen-
cies that Drexel, Morgan Il Co. are likely
to oppose the Reading plan, although no
authoritative ststament was made by the
firm in question.
Providence Clearing House.
The clearings of the Providence banks
today amounted to S635, ,3ls.34.