The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-15
FINANCIAL NEWS
Reading Plan to Start With
Foreclosure
1t Will Stop Just Short of II, How
ever---Market Notes.
apecial to The News.

NEW YORK, Nov. 16.-The break in
Reading was on sales by Ames, Minis,
Grissell and Ssvin. Stop orders were
reached and a rumor that Stockholders
would get nothing for $40 a share assess
ment was in circulation. The plan was
declared to have been Issued, but people
who know the facts said there was nofh-
ing to add TO what had already been
said. The subcommittee had prepared
a plan which called for assessments by
the income ~bondholders and stockhold-
ers. II might, however, be modified and
II was not worth while 10 give any de-
tails until they could be given with res-
sonable confidence that they would not
be changed. 1t seems TO be believed that
the plan will start with steps toward fore
closure; that these steps viii be taken so
definitely rs to create a conviction that
foreclosure is certain, but finally there
will be none.
There was a belief in Sugar that a
prominent operator had an order TO buy
5000 shares, if the price touched 102:
People who asked the operator referred
to what he thought about the rumor
were told that Wall Street must have q
poor opinion of his sagacity If they
thought he would place 5000 shares OF
Sugar. In a position where any room
trader could reach IL by a few orders.
The purchase of 1000 by st. John Hayes
was about the only buying that attracted
much attention. The transactions were
largely by traders who called the weak
stock.
Some support that will manat from
excellent sources will be found in Manhat-
tan and the stock Is "a purchase at the
prices TO keep. There is no denying the
fact that the franchise OF the company
is worth infinitely more than what is rep
resented in the capitalization and under
onv state nf the nona and nnnNpdinO
that it would only be a 4 per cent. divi-
dend payer, it would still be relatively
as safe as a West Shore bond and on that
basis should be selling on higher prices
than it is now quoted at. For invest
ment purposes there is nothing on the
list better than Manhattan and for specu-
lative purposes those who buy IL today
win not have TO wait for a substantial
profit.
GENERAL FINANCIAL NOTES.
The New York News says: Lazard
Freres will ship Il, $50, 600 gold by tomor-
rows steamer.
Joseph says: "London is Improving
and the feeling on the continent is more
hopeful; Consols firm. Here at home a
gold export scare is not likely TO work
much damage. The pool in c. b. @. Is
very confident and 80 ~ predicted for 1t
within go days. Cable Of Rock Island
thinks the November gross will be $780,
900 greater than 1891. The old pool in
Sugar has been cleaned up and both Tir-
rell and Keene are still bearish on it. A
big short interest in Gas.
London is a little lower on gold ship
ments; l.. q. N, unchanged; the rest
is to "A lower.
The earnings OF Atchison proper for the
first week of November increased $1,000;
all lines increased $4,000. G.. Z. 9. & 81.
Louis earnings for the first week Increased
5000.
Treasury gold this morning, sol, 654, 17y
The grain movement in the northwest is
beginning TO show signs of falling of.
Receiver McNulta has beg un paying of
old rebate Whiskey vouchers. There are
about 200, 600 which are a fair obligation
OF the company. The remainder have lost
their value through noncompliance with
the conditions unde which they were
issued.
COTTON.
Liverpool Cotton business good, prices
easier; sales II, 900 bales; middlings, 4
clio. Futures firm at a decline OF "a
from last nights close. Port receipts es-
timated at 60, 600, against 57,s9SS a year
ago; for the week, 260, 900 against 36i, 952
a year ago.
NEW YORK Toc QUOTATIONS.