The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-16
FINANCIAL Ne VS..
Attempt Made to Combine
Traders Against IndustriaIs
Bears Are Going for Whiskey in Lively
Fashion.
Special to The News.

NEW YORK, July 16.-The campaign
against the Industrials made progress,
but the sympathetic effect upon
the Railroad list was slight In
quite a number of cases stock was
taken In some quantity by strong buy.
ers. The short interest In the Railroad
list did not decrease; for that matter did
not appear TO increase perceptibly. Brokers
who represent the bear interest worked
against Tobacco, Sugar, ID. {. f., Leather
and Gas. There is reason for believing
that an attempt has been made TO COM
bine some of the largest traders for work,
particularly against the Industrials.
sented figures showing the probst ility OF
success in considerable number OF
stocks. The strength of the Coalars un-
der unfavorable conditions creates be-
lief In favorable Developments.
The market has now two distinct sides
and the bear factors believe that the op-
portunity for making money In the
course of the next few weeks will be
rather more plentiful than has been the
case In some months past.
Between this and the publication of the
next government crop report on the Tenth
of August speculation Is likely TO move
within comparatively narrower limits,
bear operator says: 1.-The man who
is not too stubborn. nor too closely we'd
ded TO his own opinions will be the one
who will make the biggest money during
the next go days. Ii does not matter
whether his instincts are bullish or bear
ish, IL he will only go with the swim and
not take fixed position on what he
deems TO be facts he will find the OPP
portunities of the next eight weeks golden
ones. When we are assured that the Corn
crop Is made and that the railroads will
work together in harmony, then 1t will
be time enough to switch over to the
long side Of the market and play the bull
side for every dollar one has. Tempo
rarily, the grain market should be
watched
There was a renewal OF the pressure
against Leather preferred after IL o'clock
and the stock broke 1l2 per cent. to S1l2.
The other Industrials and a few other
railway groups receded fractions About
half-past IL O'Clock, supporting orders
were received for Leather preferred which
caused rally Of ia per cent The rest
OF the market also made gains but merely
OF fractional amount. Except Chicago
Gas and Rubber, which continued under
pressure and sold down 1l2 and / per
cent. respectively, speculation generally
Is dull but steady. Sales to noon, 81, 600
shares, including 66, 600 listed and 30, 400
unlisted.
NEW YORK, July 16. Wheat, receipts
22, 100 bushels; sales ], 500, ,000
NEW YORK, July 16. Owing to the
strength of sterling exchange, II is possible
that a bullion house will export a small
amount OF gold during the week. No
large shipments are expected.
FOR THE SAKE OF REORGANIZATION.
NASHVILLE, Tenn, July i6.-A decree
of foreclosure has been entered in the u.
s. Circuit Court In the case OF the Central
Trust Company of New York, against the
Central Iron Company and the Southern
Iron Company. This step is preliminary
to the sale and reorganization of the
property. There are first mortgage bonds
to the amount OF $500, 0O0 The holders
under the reorganization are to get 12lo
per cent. OF their holdings In new bonds
and 1884 per cent. in new stocks. When
the properties are bought in by the bond
holders, as they will be, the company
will be reorganized under the name of
the Buffalo Iron Company. They expect
to be selling iron inside of 60 days.
GENERAL FINANCIAL NOTES.
London Is firm with fractional gains.
The Bank Dd Peuple of Montreal has
suspended payment.
The short interest in ID. G. +. increased
about 400 shares yesterday.
The Rubber statement shows net profits
for the year ending April 1, OF p, 716,370
surplus after dividends, $500, $50.
Receiver Sand of the Ohio Southern has
announced his intention to apply to the
courts at Lima for permission to extend
the road to Columbus and Cincinnati.
Another rumor IL that Brice is after
the road.
Joseph says: "The Industrials will be
feverish. Whiskey is being manipulated
down, and temporarily, but the insiders
are confident that the tactics will result
only In an appreciable increase OF the
short INTEREST,"
j.. p. Morgan expects to make a change
for Me better In the Foreign Exchange
market within ten days.
A fresh buying movement is being ar
ranged in Telegraph, l.. q. n. and Kansas
Texas preferred.
The bear fraction against Whiskey gave
ten brokers, orders TO sell 200 shares each
today. Nsks
Atchisoh earnings proper for the first
week OF July increased 1912, 2S9; whole
systepl increased S420, 554
New York clearings, sl10, $780, 93S; bal
anQes, sS,220116.
Thomas Gorfnley, who lives at IL Dan
forth street, was'at work this morning on
the new wall that is being built on Wey-
bosset street, near Snow, when a large
rock fell upon him. The Rhode Island
ambulance was called and he was taken
to that institution where IL was found
that his left leg had been broken.
rEw YORK STOCK QUOTATIONS..
nKrorrsD sy MILLER q vAuaHAr