The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-22
FINANCIAL NEWS.
Market Narrow and Profes-
sionaI Except Specialties.
Missouri Pacific Doing Relatively as
Well as Others.
Special To the News.

NEW YORK, July o. Except for special
ties like Sugar the market Is very mar
row and professional one. Traders are
generally bearisb. They stand not upon
the order of hammering stocks, they put
them down, believing implicitly IN their
ability to force out long holdings. In
the decline, however, they fail to dis
lodge stocks and then comes the rally on
the rebound. Smart recoveries make the
record of the day. Even TO an obtuse MIND
the operations of the past few days must
have been convincing that Ii Is compari-
lively easier TO raid anything on the list
and force fractional declines than II Is to
buy stocks for the reason that legitimate
holders are not in the market as sellers.
Ii is not unlikely that the Gould stocks
will render a better account OF themselves
The Missouri Pacific is doing relatively
as well as any other road in the country.
st. Louis is very large distributing
point and the business that has recently
been handled by the Missouri Pacific has
exceeded the expectations. The decrease
in earnings, while being somewhat OF
surprise as far as the gross results are con-
erned, has been more than made up by
the decrease in the operating expenses.
The company made during the first SIX
months of the year. which is always the
lean period, all Of its fixed charges and
put little something aside.
IL will be surprising II Sugar does not
the stock of the company is being made
! one of the worst foot tballs of the street, 1t
| will be satisfactory to legitimate holders
| to know that the property is being well
| and honestly administered, and that the
moneys legitimately belonging to the
| stockholders will be duly deposited IN
bank TO the credit of the constituent
| companies TO await legitimate dfstr1Du-
| tion.
ToDAY's STOCK BOARD.
| The stock market opened dull, with
| prices irregularly changed from Saturday $
| figures. There has been decided upward
| tendency to values under the leadership
| OF the Changers. This group improved
| Is to rs per cent, Rock Island in the
| van. Wheeling & Lake Erie preferred
| gained IA, and Colorado Fuel and Chi
cago Gas ] per cent Leather preferred
! was a notable exception, and reacted
] Ii. Reading went off 5-S per cent.
The market continued strong after III
| o'clock Lake Shore advancing 1l2 per.
cent; Leather preferred, /, and the gen.
| eral list a fraction. Toward noon realiZ-
| ing sales aroused slight reaction. Sales
to midday, 100, 400 shares, including 9S,
| 100 listed and 20 300 unlisted.
General Electric, Missouri racine
| yielded slightly, but the market generally
improves, while Lake Shore and Manhat-
tan gained per cent
MONEY.
Money on call easy at per cent. Prime
mercantile paper Bal per cent. Sterling
| exchange firm with actual business IN
bankers bills at 4S93l ai90 for demand
and at 1889, ,a4S9 for 60 days; posted rates
4Sqloa49O and i90loa491; Commercial Bills,
4SSa4SSia. Silver certificates, 66Aa67 1-si
no sales. Bar silver, 66 5-S. Mexican dol
lars 533i.
Government bonds firm.
| npN-Ip EINAN NOTES.
The gossip is still turning on gold ex
ports and prospects. 1t is said that an
other large coffee house may ship golo
this week.
The New York Times financial article II
bullish on Chicago Gas.
London is firm without special changes
The oil companies of ST. Paul, Mime
sofa and Superior have formed combina
ton TO regulate the price of coal.
Two Brooklyn distilleries contribute
S3, 600, 600 per annum to the internal reve
nue.. The new distillery to be built by the
Sugar company will pay about s3, 0o0, 600 ii
| excise.
Joseph says: CONFIDENTIAL: The bul
side of the market is the side The i'm
4 pertanee ef the argument reached =betweei
the b. & O. and the Wheeling * l.. E
roads cannot be too highly estimated
There will be sharp and well-sustainet
advancesin both Wheeling preferred an'
Wheeling common"
| kTw YORK STOCK QUOTATIONS