The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-06
FINANCIAL NE WS.
Better Prices This Week Than
Ever Before.
Reading, Chicago Gas and Rock
Island Are Booming.
Special 10 the News.

Special 10 the News
New YORK, May 6.-The stock market
ought to be more active and better prices
should prevail this week than any yet re-
corded, even at top notch. Some import
ant facts that will dominate the spscula-
tion for the good are likely to come to the
surface in the course OF the next few days.
1t will not be surprising il there
should be further marked
spurt in the Coal properties and for rea-
sons that will be appreciated Reading
stands in better position TO improve
than any OF the Anthracite specialtes.
The Reading is practically master of the
situation. With new agreements entered
into there is no reason why
the reorganization should not be
pushed through to successful
issue on lines that will be less severe on
the junior security holders and stock
holders alike. One of the leading bear
operators who is seldom found on the
long side of anything is consistent in his
belief that of all the cheap stocks Read
ing carries the palm and that it will in
the course of two years be selling near 80.
The general sentiment is bullish and
there is a belief that the market will gain
strength by resting.
Some OF the Sugar refineries which did
not know what to do with their stocks
two weeks ago now have barrel on hand.
The Philadelphia branch Of the b. * o.,
is now operated at profit.
The friends of Rock Island believe that
ia nf ha Of 4 ha
Granger shares and that the company's
earnings this year, if crop conditions turn
out as they now give promise OF dong,
will be equal to fully five per cent. upon
the stock and a return to a per cent.
basis is more than probable before mid
summer.
General Financial Notes.
The New York News says there was an
advance in all grades OF refined sugars
this morning, ranging from lie to Il
cents per pound.
There is some talk to the effect that the
recent break in industrials indicates that
the street is full of stocks, but otherwise
the sentiment is bullish with outside bus
iness increasing, London taking our secu-
rites freely. Prices there are strong at II
to u advance and market active.
Big Four earnings for the fourth week
of April increased So, ,209; for the month,
s1oO,797
There is no confirmation of the report
OF the veto of the Gas frontage bill. The
stock will be active this week and rumors
will play an important part.
Ohio coal miners and operatives ad-
iourned without an agreement upon a
wage scale.
Receiver McNulta announces that
spirits have been advanced two cents q
gallon, owing to the scarcity of corn.
Joseph says: "The market will be fever
ish and temporarily lower within range
Of II point. II. l. is buy on any small
decline"
Cover Jersey Central on any further dip.
Gas is not going down; buy it and hold it
for its upward turn.
Cotton.
Liverpool spot sales, 10000 bales. Flu
lures 3R points down from Saturdays
close.
New York Cotton futures opened
steady at the decline; sales 1880 bales.
January, $50; FEBRUARY, 6.Ss, March, COZ;
May, 65S; June, 6.51; July, 6:55; August,
$50; September, 6.62; October, 6.67;
November, $40; December, 6.76
Today's stock Board.
WALL STREET, May 6.-The stock mar
ket opened strong and active. Canadian
Pacific advanced Is per cent. to 50Z
Nc xican Central 1-S TO -; Sugar to
ia Distilling 4 and st. Paul, Southern
preferred and Leather preferred u per
cent.
Speculation continued strong on
dimished volume of trading the dealings,
however, we'll distributed. New England
advanced Ia per cent, Leather 1, Chicago
Gas, Northwest and Rock Island 5-S and
numerous other shares smaller fraction.
Chicago and Eastern Illinois preferred
jumped Ia to 97h; the speculation is
eaiser, Sugar, Reading and Leather
leading with 5-S per cent. recession.
Providence Clearing House.
The olearings of the Providence banks
today amounted to 81, ,0l6,s0O.