The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-13
FINANCIAL Ne WS.
This Weeks Market Likely to
Appear Feverish.
London Starts With An Important
Reaction This Week.
Special 10 The News.

NEW 1ORh, MAY ios-it iShiiy OcBAho W
look as IL the work of tho various reor-
ganization committees will be made COM
paratively light for the reason that
Nature, il the reports from all crop grow
ing districts can be relied on, will have
great deal TO do with the rehabilitation
OF bankrupt properties. In other words,
the harvests promise TO be SO pro-
life that farmers will be in comparative
clover, and their prosperity will perforce
be reflected in heavier business for the
railroads, better rates will be obtained
and comparatively good times will rule.
| All this must necessarily lead to better
times for the common trans
portation carriers and those
holders of junior securities
that have been looking forward to the
payment of heavy assessments in order
that their property may be put upon
solvent basis, may yet find much source
! for congratulation in the knowledge that
| the properties themselves will permit of
recuperation without the aid OF consid-
erable outlay of money.
There il every reason to believe that
| Atchison will sell very much higher. 1t
| is certain that once resurrected the prop
erty will very quickly recover much of its
| prestige. The buying of Atchison is very
| confident. The stock is specrlatlvely one
| OF the very cheapest on the list and pur-
chases involve comparatively few, il any
| risks.
The advance in Sugar was unexpected.
Shrewd traders believed that the long
stock lately sold would result in sag
ging market, IL not in decided break.
Refners said the reports of falling OFF in
trade were exaggerated. Business was
good enough to keep the refners going at
their full capacity, and men who had not
been called upon to do night work for
five years were obliged to stay on duty
nights last week in order 10 keep up with
| the business.
The buying in Western Union was more
of an investment character than hereto
fore. Several good selling orders given By
recent buyers kept the stock from al
vancing much, but little below current
| quotations were a block OF orders some Of
which were given by people who wanted
the stock.
Europe is confident that higher prices
will prevail for all our shares and the
buying for the continent shows no sign
OF immediate exhaustion. There is a
great deal to be said in favor OF these
purchases. Since May of last year
prominent operators In Paris,
Berlin and London have made
immense fortunes trading in
in West Australian, South African and
South American properties. When they
took hold OF these they recognized that it
was gamble, pure and simple, but their
purchases turned out even better than
they bad any idea of. Now they have
turned their eyes to the American mar
ket.
Cotton.
Liverpool spot sales, 5000 bales; futures
~ points decline and easy.
NEW YORK, May 13-Cotton futures
opened steady; sales 3 200 bales; JAM, 6sS
Feb, 6.93; March, 6.99; May, 6.62; June
Csc; July, 6.62; Aug, 6.6S; Sept, 67O
Oct, 6.76; Nov., 6.7s; Dec, 6.S3.
Today's stock Board.
WALL STREET, May 13.--The stock mar.
ket opened weak and active. Stocks con.
tinued to decline until about 1880. TIL,
more prominent losses we're: Evans
willie & Terre Haute, ~ pei
cent; Union Pacific, *; Chicago
Gas 1k, and Denver, Rio Grande preferred
and Lackawanna per cent. Nicke
Plate common and do. second preforre'
were notably strong. and improved 2 pc
cent. each. The downward movement wa
checked about 1O:SO and Michigan
Central advanced Ia per cent, and Balti
more & Ohio, Chicago Gas and Illinoi
Central per cent. Over $4,000 worth o
silver certificates brought 67%. Th
dealings have been unusually animated.
General Financial Notes.
1t is reported that the frost in the Yves
il not serious, but the important featur
this morning was the first reaction Of n ot
In London. Atchison, l.. &. NJ, st. Pau
Union Pacific, Northern Pacific preferre,
and Wabash were all down from u to !
per cent.
Joseph says: "Thero promises to b
important upward strides this week 1
four specialties-Sugar, ID. G. f., North
, ern Pacific common, and Coal, Fuel an
Iron.
"Powerful interests are, or rather vii
look after them. There will be som
profit taking in Atohison, but the stoc
! will sell very high eventually"
Attorney General Moloney is expecte
TO bring up the Chicago Gas litigatio
this week.
{. Franklin Nugent brings rosy rs