The Providence news. (Providence [R.I.]) 1891-1906, 1895-06-04
FINANCIAL NEWS.
Distributing and Cattle Feed
ing Co. Making Money.
General Electric Reaches an Harmo
Tious Point al Last.
special 10 The News.

NEW YORK, June 4.-Judge Showalter's de-
eision against the Central Trust Company's
application for a separate receiver for ID. q.
r., as well as a decided Improvement in the
trade, were regarded as bull points on that
stock II is no secret that the company has
been losing money for two or three months,
but 1t has now reached the period where its
sales are made without loss, although the
profits are very limited. An independent
operator said today that sales at Sl8 in this
market showed "a profit Of about 80 cents a
barrel. He looks for an advancing market
from now on, owing TO the rather limited
stocks, and a removal Of pressure TO sell
through a suspension Of distilling operations.
An operator who was active in g.. E., on
which about 1900 shares were done yester-
day. said last night: General Electric is one
of the few stocks which have not been as high
recently as they sold early in the year. The
movement, which carried the price above %
a while ago, did not have the support of the
right people. 1t consequently had to be tenn
porarily abandoned, and quite a number Of
moves were necessary before the business re-
lations Of the company and the speculative
interests of certain people could bo brought
into harmony. That position has now been
reached, and General Electric ought to have
IA reasonable advance"
London was expected 10 be factor today,
traders believing that If London took hold
there would probably be two or three strong
days. If it did not, the rally was likely to be.
short lived.
The market was firm yesterday on reports
Of rains at the West. The Cordage troubles
had no effect. and some Of tho specialties were
strong.
ToDAY's STOCK BOARD.
WALL STREET. June 4.-The stock market
opened active and fractionally higher. Cen
eral Eeotric advanced q per cent, Manhattan
and Sugar reacted "a per cent. each, but the
latter rallied y per cent.
The activity subsidized after l0:l5. but values
were generally maintained at the opening
figures, except for Rubber, which advanced q
and receded i per cent.
The market became heavy after II, owing
TO realizing sales which caused general re-
action. Losses, however, did not exceed a
fraction except in the case of Cordage pre-
ferred. which declined per cent. American
Cable rose pa per cent.
Sales TO noon, $500 shares, including 1000
listed and p, 500 unlisted.
GENERAL FINANCIAL NOTES.
Prices in London are generally Is to Il above
our closing.
St. Paul earnings for the fourth week Of
May decreased s3a565; for the month, Sll5,
GO. This result is worse than expected.
Some-people looked for a slight gain. In COM
parison with 1883, the week shows loss Of
$4,000.
Canadian Pacific earnings for the fourth
week Of May decreased $500; Wabash in
creased S39,676.
VicePresident Chappoll Of Chicago s. Alton
says that Missouri and Illinois are not likely
10 get more than half a crop OF Wheat.
the gross earnings Of Rock Island for tho
month Of May decreased S209 j6l.
The Supreme Court of the United States has
decided that the new tariff law went into
effect August "a not August l.
Joseph says: "Buy Louisville, New Albany
& Chicago. You will make a couple OF points
sure. Canadian Southern is going to 90. Don't
fool away Sugar and hold q. T., and ID. G. +.
Sell more Erie on any further bulge and don't
be afraid to short Northwest"
Now York bank clearngs, Sl22, i39, s63; bal
ances, IS, AL, ,Sl3