The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-29
: FINANCIAL NEWS.
Western Roads 10 Fight Canadian
Pacific.
Interest Still Centers on the COalers-
Decrease Of Railroad Earnings-Lon-
don FractionalIy Higher.
SDecial 10 The Neics.

NEW YORK, Oct. 90 = The stock
market opened weak and moderately
active. The coalers were again re-
garded as vulnerable points OF at
tack by the bears and New Jersey
Central Cent was sold udSvnn dSwn y TO to To-
123 and ID. l.. & w. which opened u
higher at 1853, declined to 1866. The de-
preston was also manifest among the
other active shares. Pullman lost per
cent, Sugar %, Northwest, Lead and
e Cake G. Shore St. Louis, s0OaSSo Sc. Paul ns
Omaha, Wheeling & Lake Erie, Msnhat-
tan and General Electric II. The coalers
are now in better request. ID. j. q w. Is
back to 1871, New Jersey Central 97h
and Delaware & Hudson TO 124.
But everything today depends on the
coaers. IL the raid on them Is over the
market should rally, as London is higher
and the short interests are large. Outside
of this there are no special features.
NEW YORK, Oct 29.-Cotton futures
opened steady; sales, 5000 bales.
For the last nine months Jersey Central
shows a net decrease OF g, ,302, ,965.
The net decrease in the earnings OF
Chicago, Burlington a. Quincy for the
month OF Sepiemt Or was s325, 900.
The decrease for Omaha for the same
period was 1929.
For September the Norfolk & Westerns
making steady gains and tue stock Is
worth watching.
The traders have concluded that the
bears have temporarily the upper hand
and are prepared for demonstrations in all
directions.
dends of Chicago Il Northwestern is ire
| sponsible and has no official recognition.
The weak Stoke of the immediate specu-
| lation are North Western, Croton Oil and
| Telegraph. General Electric, Gas and
| Sugar are all good for a buy OH a'scale.
The same doubt of last week as to
whether gold will be shipped within the
next Iive days or not still prevails.
London is better.
The agricultural department at Wash
| ington has issued q statement that the
! price of bread and size OF the loaf is prac-
tically the same as when flour cost twice
| as much.
The tendency on next years corn is
bullish on weak spots.
| There Ia a rumor in the provision
market of one and one-half millions in
crease of the visible supplies.
Refined sugar was reduced is cent on
the pound Saturday.
fight the Canadian Pacific in its immi-
grant business tand the Eastern lines are
expected to follow suit this week.
hctiVW Va Shdhhcss
London prices came in lower, perhaps
on the resignation Of Chancellor Caprivi,
and our market opened shade
lower In sympathy with no
| especial activity however int -arbi-
trage shares. The interest of the specu-
lation was centered chiefly in TIE coalers,
Manhattan, General Electric and North
west, and the bears hammered vigorously
in the case of all these stocks, perhaps
hay fnhr "A M nck inn
the market.
The Wheeler party were especially ac-
tive in Manhattan and the coalers; A.. j.
We'll sold General Electric and there was
commission selling of Northwest aided
at times by offerings from various
members of the bear party. The selling
OF the coalers was accompanied by ru-
mors OF reduced dividends for both Jersey
Central and Delaware A. Hudson, but the
liquidation was thought more likely to be
based on prospects of a coal war, as in the
later dealings, ID. l.. d w. became the
weakest point and was offered down freely
on small transactions.
The bank statement showed that the
banks have gained 81 100000 in surplus
reserve and now hold $63, 500 600 in excess
of legal requirements. Towards the second
hour there was a slight rally from
the lowest based on covering by
shorts, but in the later deal
and there was some concession in prices
for the Granger group, but the IDdustrials
held surprisingly firm, The closing was
not quite at the lowest Of the day, but
some mater lal declines were, nevert heless,
recorded as follows: ID. l.. q W., per
cent; jersey Central, 3-S per cent. II. &
H., 1-2 per cent; and Northwest, IA
per cent and for the balance of the list
IA TO "a per cent.
The interest of the speculation shifted
entirely to the coal shares and further
developments i'm these properties will be
watched with interest as indications are
that long stock has been coming upon the
market the bear brokers having been
perhaps employed TO sell.
Providence Clearing House.
The clearing house statement today is
S732, 800.
New York Stock Quotations
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