The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-19
FINANCIAL Ne VS..
This Years Corn Crop larg-
est In History.
No Very Serious Apprehension
Caused BY Gold Exports.
Snacial 10 The News.

NEW YORK, Aug 19-The Agricul-
tural Bureau at Washington says: From
present appearances the corn crop OF 1870
will be the largest in the history OF the
country. Ii is estimated that the yield
will be near $500, 600, 600, which at the
present market prices of December corn
means that the farmers will receive s76S,
600, 900. This sum represents the value
OF corn alone, not including the great
value of the stalks used for fodder and
for other purposes. SThe fodder sells al
from y. so TO 80 per ton. Taking the
former figure, it would make the fodder
worth $3.50. 900, 600. This, added to the
value of the grain, makes the total
money value of the corn crop for the
year, q, 193 200, 900. +"
Colonel Grosvenor, in his "money and
business article today, speaking about
the exports of the precious metal, says:
''No serious apprehension has been
caused by exports of gold, for II is gener-
ally assumed that the syndicate has vari-
Gus railroad and coal projects in hand and
cannot afford to permit anything beyond
such outgo as may warrant another issue
of bonds.h
An effort will undoubtedly be made TO
put Tobacco lower and those who seem
to know, marketwise, what is transporting
predict that 1t will sell near 100 this week
and will probably reach 80 by the first OF
September. 1t is announced semi-officially
the cigarette business and will join the
antitrust forces
Friends of the st. Paul and Rock Island
promise that these stocks shall become
active and be the leaders in the bullish
speculation.
The market, in all probability, will
continue to be feverish and somewhat
erratic. The fact of the matter is, most
of the prominent traders are absent from
the street and those who are giving some
little attention TO business say 1t Is
good thing to let speculation rest. Peo-
pie do not care TO do very much during
these August dog-days, and nothing Will
be lost by waiting a week or two. III
conditions continue as good as they are
at present, so that no injury comes TO the
great corn crop, then on the next up
ward move c., b. c. will sell at 100, Rock
Island will cross 80, and ST. Paul Will
sell near so.
| There is no reason TO apprehend any
difficulty. On the contrary, there is much
| to encourage the hopes of the bulk. For
! the moment, IL advantage be taken OF
| recessions of IL to l per cent. 10 buy the
/ Western stocks, not only Will considerab b le
interest money be saved, but the pur-
! chaser of these particular securities that
are destined TO show very marked in
crease in value in the almost immediate
| future.
The best judges thought that gold ex
| ports would be the dominant factor this
week and the best information available
Saturday and yesterday was to the effect
that the gold exports would be small.
| Therefor, chances favored better mar
| ket from the middle to the close of the
| week. There were no very aggressive
bears, but they said that Gas, Leather
(some weeks ago), Tobacco and Manhat-
tan have shown that long stock can
come on the market easily, and IL there
were any unfavorable Developments the
break in the list would be severe.
GENERAL FINANCIAL NOTES.
Transactions in Sugar Saturday were
very small. because Mr.. White was away.
| There have been as many as loo, 600 trans
fers, ordinary go 600 to 40, 000, but Satur-
day less than 5000 changed hands.
The London market is is lower on
prospects of heavy gold shipments. 1t
looks now as il "A, 000000 or -, 0U0, 00O
would be shipped.
Canadian Pacific earnings tor the Sec
ond week of August increased s23, 900.
Treasury gold today, s102, 464, 34.
The first batch of Government bonds
from London arrived Saturday.
President Fisher OF the Tobacco Work
ers' National Union. announces that
every brand of tobacco produced by the
American company will be boycotted.
The Wholesale Grocers' Association OF
Indiana will also fight the trust.
Joseph says: "Bull Rock Island, St.
Paul and Missouri Pacific. Don't be
afraid of C.. b. q. The coalers will do
better. The Vanderbilts favor prompt
settlement of the coal trouble. Bull Jer-
sey Central. We'll is very bearish on To-
acco; he says it will sell at %. ~
Copper opens 3-s higher in London.