The Providence news. (Providence [R.I.]) 1891-1906, 1894-05-21
THE FINANCIAL NEWS.
The Situation Still Appears to Be
Very Bearish.
Gold Shipments Have Begun Early
and Start I'm Heavy-rhe storms
Add to Bear Gossip.


NEW YORK, May 21.-The situation con-
tinues bearish, due 10 the strikes, gold
shipments and now the severe storms.
The bears are aggressive, the
bulls discouraged. On the other
hand money is easy and the short
interest much increased. Some industries
even show better returns. London is up
about one hall on an average and rally
in the active Hist is due OH tho shorts IL
for no other reason.
Ladenburgh, Thalman q Co. will ship
$500, 900 gold tomorrow.
The earnings of Northwestern for March
decreased 1881, ,2O3.
The situation and outlook are not such
ss to justify the buying OF stocks except
on weak days fortunes. Any rallies
which may come will be welcomed
by anxious end dissatisfied holders. The
latter should not fail To take advantage Of
such opportunities TO sell, il having been
demonstrated that the Improvement in
conditions which all bad hoped for ard
which 80 many had expected to be
visible now, has not materialized.
In fact general conditions are
less encouraging than a week ago.
ShrinlSage in the value of farm products
is the great obstacle with which
the railroads are contending.
Freight rates became demoralized largely
because OF this shrinkage. Lon
don's attitude in the market for
American railway shares is interest
ing. The significant feature the past
week among international stocks
was. local liquidotions in Louis
Vile for foreign account. Imports
OF dry goods and general merchandise de-
creased 81 100000 aud We're s3,o00,0O0 less
than year ago. Exchange ruled at the
gold exporting level all the week.
Dissatisfied New York d New England
Stock holders have held several confer
Ia H..
take place this week TO discuss some step
by which the prospects OF the stock
holders may be improved.
London prices Saturday morning
showed advances of about u per cent.
This, together with the belief
that the market was largely oversold,
gave firm opening for most OF the active
stocks.
The chief movement in the market and
the one which overshadowed everything
else was in Sugar. This opened at about
Friday nights closing, was steady for the
first half hour and then rapidly
declined to $50. AT this. point
a number of shorts covered, but as the
price only rallied to 96% traders began to
sell again and after a little the stock
broke to "a, closing at 9iS.. The reason
for this decline is of course well
known, being the investigation start
eu III NbsnlHBlOn ana consequently
liquidation by the Washington pool. The
feeling on it at the close is very mixed
and it Is impossible to say which way ii
will turn the early part of the week, but it
is ripe for break unless the insiders are
prepared 10 come To its support
The week has seen a marked change in
sentiment regarding the stock market.
Cor at the opening there was a feeling of
hope based upon the idea of an early
settlement ofthe tariff question. This now
threatens TO continue for a long time, and
as gold has gone out with an increasing
rush holders of stock have become some
what anxious and liquidation in
many securities has appeared
in the last two days. The
chief argument OF the bulls still is easy
money, but at the moment this is opposed
by strong unsettling conditions and
should anything occur To stiffen the
money rates it is felt that considerable
liquidation must ensue.
However, the short interest has in
creased, stocks are harder to borrow and
anything definite from Washington would
make quick rally probable. AS already
noted, the chief interest is centered in
Sugar, and much activity is expected in it
this week.