The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-06
FINANCIAL NEWS
Sentiment on Sugar Growing
More BulliSh.
Somebody Evidently Got Corner
on Gas.

J hlttulhllO IONS W IeButu 10 the movements
| and positions OF prominent operator.
The fact that Mr.. Blair gave the buying
order in Sugar was considered evidence
! that Mr.. We'll was the principal. lie was
| supposed 10 have covered stock early in
| the day and 10 have sold, perhaps, 1000
shares in the afternoon, The room thinks
| that when Mr.. Wen is a large buyer he IS
usually found a considera bic seller shortly
| afterward, and there is often trading on
| this speculation. Sentiment among in
| tuential people last night was bulllsh on
! Sugar, principally on the ground that Mr.
! ii. o. Havemeyer was almost unmistak-
| ably operating on the long side. In the
| opinion of those who thought themselves
informed, the Havemeyer interest could
not accomplish the object of the present
| turn without advancing the stock more.
The insiders have had no opportunities
TO pick up lines of speculative stock;
| there has been no "early information. -
no chance for anybody to play upon the
possible action of the court. Under these
circumstances. long holdings cannot pos
sibly be sold, because they average so
many points higher than last mig t's clos
ing prices. 1t seems as II t5e people who
bought Gas at the opening would have
put" at whatever price they paid for the
stock. 1t is destined 10 sell very much
higher and should take precedence, as II
undoubtedly will, in activity and strength.
The rumors particularly affecting To-
bacco stock now are about the coming
dividend. Some people think the dlvi-
dend the latter part of this month will be
either passed or materially reduced. The
company Is said 10 he finding competition
IN ore severe than had been expected and
tue inroads upon its cash surplus amount
10 much more in the aggregate than some
of the directors consider safe without re-
ducing the dividend at once. The selling
of the stock continues TO come from sour
css which indicate inside liquidation, al
though the loaning rate keeps high and
impresses some people as indicating
large short interest.
GENERAL FINANCIAL NOTES.
On the outside this a. m, before the
opening of the Market Z was bid for Gas.
At the opening 5000 shares were bought
at from 67l2 to 69l2.
London Copper; Spot, 10; futures, 43
5-S; steady and unchanged.
Joseph says: "The Sugar PEOPLE will
be gratified by the decision in Gas, and
through it the Hunt suit will get
knockout blow. Traders are likely TO
pay but little attention to gold ship
ments, as the trust stocks promises 10
afford speculative opportunities which
| Will offset temporary trade settlements.
| London Is trifle better.
The treasury yesterday received sl05, 900
! gold in New York and $4,000 in Chi
/ cago.
The American Wool and Cotton Re.
| porter says today OF the wool trade:
Notwithstanding the occurrence of the
| annual Thanksg holiday, which Is
usually equivalent to two days Interrupt
| tion o: the course of such trade as might
! otherwise be available in such period, the
sales in the three principal markets have
amounted, in toto, TO 8, 1853, 100 pounds,
! of which ,, 2,5Sl, 500 pounds was domestic
| wool, including n fair proportion of
medium and pulled. Fridays and Mon
days cables indicate that the prices in
/ London are very firm. II the finer
! grades OF Australian combing and cloth
| ing were in supply here, they could not
be sold at profit at present quotations.
| The position of the domestic wool
market Ia, from most points of view,
reasonably strong. The situation i'm the
| goods market presents no new feature,
and nothing more definite can be pre-
dicted concerning the outlook for the
season, whose ADVENT We are waiting,
| than was possible a week ago.
NEW YORK.
| The sales tor the week aggregate 2, VS.
| 900 pounds. of which SO, 600 were domes-
| tic, and 1885. 600 were foreign wool, maxi
| ing a total since January of 90, i63, 100
pounds; for lie corresponding period of
! 1894, the aggregate was 81, 122. 800 pounds.
! The goods market Is not fairly opened. and
no large number of orders has been
| taken except overcoatings. The manu-
! facturer is buving from hand TO mouth,
and is rayipg full prices for his wool
| when he comes into the market.
BOSTON.
! The "cables" last week on the whole.
! occasioned an agreeable diappointment
to at least one-third OF the trade here,
! and on Friday the foundation was laid
! for considerable more trade tLan had
| appeared possible for fortnight anterior
! 10 the opening of the Novem bor- Decem-
! bcr London series. The sales Of the week
! have amounted TO 2,37l, 900 pounds, OF
| when 1,293, coo pounds were domestic
and LOIS, 600 pounds foreign WOO.
The sales since January. 1888 have
amounted 10 1S9, 701, 600 pounds against
1877, 89S $50 year ago.
PHILADELPHIA
The aggregate sales for the past week
were 1,19S, GOO rouuds domestic and 49,
200 pounds foreign, making total for
! the week of ,66l, 100 pounds. Sales since
January /, 1895. have amounted to Sc. $50
2l5 pounds. Local mills for the past two
week have been the largest buyers in this
market, and thoy are quietly taking up
desirable lots OF territory and medium
heeces. Some OF our largest houses are
preparing TO open all the territory wool In
sto X. Quarter-tlUod wool is receiving
more attention OF late, and both dealers
and commission m erchantS are hopeful
Of larger demand for ibis grade after
the tun OF the year
CHICAGO
The shipments OF wool for the weel;
ending November - were al 600 hounds
against 25l. .6ig for the same period last
year. The sales for the week have been
extremely small aggregating about 30O
600 pounds which includes small line
OF secured wool-pullcd, bright, un.
washed and territory
ST. LOUIS
There has been very title done this
week. and sales would foot up hardly
100 COO pounds total. Sales include 3.S
ombing, low pulled and fined secured
pulled, also some loose and broken stock.
tot Late Financial .eNs zee Tase 8,