The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-01
FINANCIAL NE WS.
Prominent Coal Official Says
Business is Improving.
Prices OF "Black Diamonds to Rise
Still Higher.
Special TO The News.

NEW YORK, Oct. lone OF the leading
officers OF the most prominent OF the coal
companies, in speaking last night of the
Improvement that has set in, said: SAT
last the people who have been sacrificing
some scores OF millions of dollars, be-
cause of that inexplicable folly in coal
matters seem TO be coming TO their senses
and from now on we shall, 1 think, be
able 10 retrieve part OF our enormous coal
losses The coal war is over, but why it
was ever begun is one OF those things
that no man can find out. There was
nothing 10 be gained by the obstinate
methods that were resorted to, and which
benefited nobody. However, IL is OF lit
tie use crying over spilled milk. What
we have TO do now Is TO buckle on our
harness and work with will. Prices are
already up 10 cents per ton on the aver
age, and look for further rise in the
next six weeks of at least 20 cents per ton.
The output for the next six months will,
should judge. be on a basis that will
mean 40, 600. 600 tons consumption OF hard
coal for the year. The revival in general
business has only just commenced, but
later on in the year it will be rushing"
The bear party lacks organization, and
many members of this com binstion have
been ''singed" during the past six
months.
The Exchange place people who have
been among the largest buyers OF ID. &. +.
think that this stock will sell in the for
ties in the coming spring. The most en-
thusiastic go as far as TO predict the re-
sumption of dividends in the course of a
year or lS months. In view of past expe-
rience, those roseate pictures OF future
promises had better be looked at through
smoked glass. Whskey will undoubtedly
continue TO be favorite speculative issue
but those who buy il on it's weak days
will certainly fair better than those who
jump in on the manipulative bulges.
The friends of Rock Island have not
parted with a share of the speculative or
investment lines that were taken on few
weeks back, and they look for their stock
to reach 80 before the end of October.
There Is good borrowing demand for
stocks, and the short interest has been
increased to no inconsiderable extent in
all the active issues.
The earnings OF st. Paul for the fourth
week of September, which will come out
after the close of business tomorrow, will
make most gratifying showing.
The directors of A. NJ It. should meet
tomorrow, and take action on the quar-
terlv dividend. There is no doubt what
ever that the regular 3 per cent. will be
paid. The action of Tobacco in the mar
ket Is very erratic, and while the stock
has undou btedly been depressed from
time TO time, those who have noticed de-
liverIes in certain offices say that the to-
bacco fight now in progress between the
Il.
Cigarette Company mas unquestionably
led TO liquidation of long stock Tor cer-
tain inside account.
GENERAL FINANCIAL NOTES.
Traders are held out of the market by
the strength of Wheat and Cotton, beca use
of their bearing on the exchange situa-
tion. The rates were easier yesterday,
however, and it is now said no gold Will
go before Saturday.
A syndicate has been formed in France
to corner the beet sugar market. They
are said TO have bought so far 400, 900
tons. The syndicate has been buying
largely in England so as to sell in France.
The latter country will be the only one
affected.
The ID. @. +. decision has been reached.
and is expected To go before the court !
today or tomorrow.
The Illinois suit against the tobacco |
company comes up at Chicago today.
London is "A better for Reading, Is |
better for Atchison and the rest OF the |
list unchanged.
j. $. Bache says the facts regarding |
gold being drawn by Russia are verified |
on good authority. The matter grows |
out of the new Chinese loan which is be-
ing. prepared for the market.
Treasury gold this morning, s92. s11, ,329.
NEW YORK STOCK QUOTATIONS.