The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-02
FINANCIAL NEWS.
The General Market 0versoId and a
Rally Expected.
The Present Management Of the Whis-
key Trust to Rctire-Wheat Easier
London FractionalIy Higher.
Spfcinl % Tie Nclrs.

NEW YORK, Oct. 2.--The stock market
was irregular at the opening, the Changers
and other active railway shares being
fractionalIy higher and the industrials a
shade lower, except Chicago Gas, which is
unchanged. Sugar led in he transact ions
and was sold heavily, a decline of q per
cent. to SO being recorded therein. Gen
eral Electric receded x and Tobacco and
Lead y. After the early decline the mar
ket began to improve and is still on the
upward move; rallies having already been
made of q in Sugar and Chicago Gas, and
u in Burlington, Rock Island and General
Electric.
The market is getting heavily oversold,
all the active stocks are in demand, and
all the board traders are very bearish. A
rally should come and quickly.
Good stocks are now a buy en- breaks.
The Washington indictments are ex-
pected to put Sugar somewhat lower but
1t has had good decline from the highest.
London Is q better except on Reading.
The loan crowd shows q big short in
terest.
1t is advisable to corner Changers on all
weak spots.
The Sugar retiners are gradually closing
ana Sugar will probably sell lower but
shorts should be covered around SO. A
further drive Is to be made on this stock.
The stock in the Whiskey Trust is prac-
tically all held by Eastern operators, they
II, and now President Greenhut and his
brother trustees have been notified that
the control had passed into other hands.
Wheat opened a shade easier on easier
cables. II acts heavy.
Cotton future opened steady; sales
10000 bales. Oct. 5.7s bid, Nov. 5.sI, Dec.
5.ss, Jan. 5.9i, Feb. 6.02, March COS, April
els, May 6.23, June 6.25 bid.
Notes.
October interest and dividend dis burse-
ments in New York are estimated at Si0,-
100000 and in Boston at ~, 100000.
The general managers of the railroads
centerlng at st. Louis have agreed to con-
tinue the eastbound pooling agreement.
There are between 10000 and 1000
holders of Atchison stock, the average
holding being about 100 shares each.
Review of Monday In Brief.
London prices came in a shade firmer,
but our market opened generally lower
with the exception of Chicago Gas, which
showed fractional gain on the declara-
tion of the usual dividend. The specula-
tion in Sugar was watched with great
interest, the stock opening lower with
large sales and declining further during
the early dealings. For a greater part OF
the day there appeared to be rather a
better demand than has been the case
during the past week, but just before the
close the bears took the stock in hand
again and offered it down below 81, the
closing price being the lowest of the day.
For the balance of the list, raids were
made at various periods in ID.
{. F., Q. B. & O., st. Paul, and
later in Western Union which yielded
easily under repeated attacks by the Cam
mack brokers and some of the prominent
commission houses who have hitherto
been acting generally on the bull side
The principal feature of the market APP
pesred to be short selling, except in the
case of possibly Western Union and Sugar
rather than on sales OF long stock and at
the close the short interest showed a de-
cidedly increased demand for Changers,
Chicago Gas and other Of the active
shares. The closing was weak for the In
dustrials and Western Union, but at
slight recovery from the lowest for c., B.
* O., st. Paul and ID. &. +.
Providence Clearing House.
The Providence bank clearings today
amounted to u ,166, 7Sl.1S.