The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-02
FINANCIAL NEWS.
Brokers at Home and Abroad Feeling
Much Better.
whiskcy to Improve-Sugar Going Up.
General Gossip.
Special to The News.


NEW YORK, Feb. 2.--There is a decidedly
better feeling among bankers, both abroad
and at home, SO far as the currency ques-
tion is concerned. The impression seems
to be growing generally that the country
will very speedily recover the lost ground
OF the past few months. Those staid old
commission houses that were advising
their clients not to do anything for the
time being are now gradually switching
over to the bull side and they think that,
following its usual custom, Wall street
will shortly start in to discount some of
the bright times they earnestly think will
soon be in evidence.
With the suggestion of bond
issue and the prediction that
the precious metal would be
coming from the other side, rates imme-
diately fell back TO where they were a
month ago. Nobody OF intelligence
seriously looks for gold to go to premium
and those people who have been boarding
gold bars and have been buying gold GER
tificates will let them come into circula-
tion again in double quick order.
Those who generally take flyer in the
street will not be slow to grasp opportuni-
ties as they arise and they begin to see
that, as compared with other speculations,
the market for the moment offers decided
advantages. Sugar Is being well bought
and those who know most of
the company's affairs are con-
fident in their predictions that
Sugar will sell at 125 before it has any
material reaction from these prices.
Chicago Gas, for reasons that are easily
suggested, should do better. Manhattan
is an excellent property and at 10 ii would
still return 8 per cent, or as much as New
York Central does.
Most of the traders are long
OF the general market and, fol-
lowing the Saturday custom,
many OF them will be inclined to even up.
This may temporarily lead TO a moderate
reaction, but il active issues do yield Y to
Y per cent. they may be bought for a
further upward turn during the coming
week.
There will be some favorable develop
ments in the course of few hours on
Whiskey. II there is any truth in the
aphorism that "rats desert sinking ship
then Greenhut and his party will soon be
inundated. 1t is computed that the
Whiskey tribe is short of from 10000 to
10000 shares of their stock.
General Financial Notes.
Liverpool cotton sales 1000, u to per
cent. up and very steady.
Belief now is that per cent. bonds will
be sold on 3h per cent. basis, and Wall
street sentiment has changed completely
in two days.
London is again higher for everything
but st. Paul, which is down y. Great in
terest is taken in the details OF the new
bond issue. There is ne effieial announce
ment yet, but one is expected Monday.
The author of the weekly market letter
OF {. franklin Nugent & Co., likens the
gold draining to the old fashioned sand
hour glass. He says:
AS it flows out OF the treasury, In
amounts varying from 100000 to s14,
100000 week, we have some loyal, sound,
financial men in the capital of our
country who are watching the "treas-
ury glass;" and as the gold flows oat,
they will be on hand with an issue
OF bonds and the glass will be reversed and
the gold will flow back again, and thus il
will go on and on, but instead of denoting
the time of day 1t will tell to the world at
large that this great country of ours is
able to meet all its obligations in gold.
Providence Clearing House.
The clearings of the Providence banks
today amounted to $50, 100; for the week,
si,356,0o0.