The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-16
FINANCIAL NEWS.
New York Central Wants
Money and Wants 1t Bad.
Oil is SmoOth-War in the East.
Gossip.
Special TO The News.

NEW YORK, April l6.-A gentleman or
dinarily well informed on New York Gen.
tral said last night: "The advance in the
Vanderbilt stocks, / think, is due to an
organized effort to put New York Central
to par. The company wants money, as
Is well known. An easy way to get 1t
would be by selling the treasury stock,
but this cannot be sold at less than 100.
believe, however, the company is entitled
to pay a commission if necessary, which
would enable it to sell stock at less than
par net to the buyer. When it was selling
stock some time ago the market price
was constantly below par and in fact
only went above par occasionally. 1t
looks to me as IL something OF the kind
were being attempted now. IL the COM
pany could sell this stock it would not be
obliged to make an issue of collateral
trust bonds or borrow on its notes.
Money, however, it must have and soon IL
dividends are to be maintained"
There were no specially confident
points last night, but a general feeling
that anything could be bought on slight
reactions.
Oil sold in Pittsburg yesterday, accord
ing to the late dispatches, at $3.50 per
barrel. The point was widely distributed
Oil for s3 per barrel.
Naturally the Improvement that has
been SO pronounced in all products has a
tendency to create a more hopeful feeling
in almost every direction, and while 1t Is
possible that moderate profit-taking will
be in order today, anything OF marked
decline is scarcely to be apprehended.
IL the settlement Of the Japanese and
Chinese war is to have any effect, materi
ally higher prices may be looked for from
Europe in the almost immediate future.
Official advices concerning the condition
of affairs in the East are to the effect that
Ii Hung Changes son-in-law telegraphs
that the treaty of peace was signed in
Shimonoseki today.
The feeling on Sugar continues bullish
and it is predicted that the certificates
will certainly sell considerably above 120
in the course of a few weeks. Tenn
porarily there may be little recession
because those that got in last week and
see profit of 3 or per cent. are not likely
to let the golden opportunity pass them
by.
General Financial Notes.
Atchison proper earnings for the first
week of April increased s16,762; all lines
increased S32, ,e42.
London is buoyant. The market for
Americans is very strong. The settle
ment OF the Chinese ia panese war was
given fresh flip to the market. The
advance shows gains ranging from II to
q. A further advance is likely to at
tract realizing, but the tendency should
be toward improvement for long pull.
Gossip indicates that the Morgan Bel
mont syndicate is active in the market
and this theory is strengthened by the
advance in London this morning
The Liverpool markets will not open
until tomorrow morning.
Wheat.
CHICAGO, April 16.-Wheat opens easier
on warm, moist weather, and the local
market lacks the support OF shorts, who
covered yesterday. Al the same time tho
undertono is still firm on very light re-
ceipts at Minneapolis aud Duluth and
higher cables.
LATER-the commission houses have gen.
orally bought Wheat. Tho spectators who
counted on the outside public support be-
cause Oil had a boom yesterday are dis
appointed at the fiat tone OF the market
today.
Providence Clearing House.
The clearings OF the Providence banks
today amounted to q, ,054,7O
New York Stock Quotations.
REPORTED ny MILLER vAueHAN