The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-26
FINANCIAL NEWS
The Market is Somewhat
Steadier Today.
Arrangements Of New Bond Issue
Will Be Known Next Week.


New York, Dec 26.-There is less scare felt
over the possible gold exports. and people are
again returning to their senses. The commits
sion houses believe that business will improve
measurably. and that between this and the
end of the month further substantial advances
throughout the general list will be recorded.
Tomorrow the directors of Delaware Lacka-
wanna a. Western will meet and declare their
regular dividend OF Ia per cent. Speaking OF
Lackawsnna stock, there is less of il floating
than ever, and the buying on the recent de-
preston was not only by small investors, but
likewise by some prominent capitalists that
never lose an opportunity to acquire all Of
this particular stock that they can lay hold Of.
The fact that Lackawanna advPnces per
cent. on 800 shares OF fnll stock must be ro-
garded as irrefutable evidence that there
Is comparatively little long stock pressing.
Tho same arguments advanced for Lacka-
wanna may, TO n certain extent, be applicable
to Manhattan. as it is a recognized fact that
there are less than 80 900 shares or floating
stock which could be taken at almost ANY
moment. The short interest in Manhattan is
large. but the bears have not made much
money out OF their venture
There Will be no London, Liverpool nor
Manchester markets today, as 1t is Boxing
Day"
Foreign houses that have discretionary
orders will, IL the general tendency of specu-
lation strengthens. buy some stocks before
the close OF the day for arbitrsge accounts,
especially as the financial atmosphere is
clearing.
The talk is more hopeful than IL has been in
many days, and the most eminent fnarciers
believe that tho new issue of bonds now being
arranged. will be placed TO a considerable ex.
tent on the other side.
1t is rumored that Russia stands ready 10
lend the United States S400. OOO. coo Of gold,
taking our bond in exchange. but this is not
considered seriously.
The earnings Of st. Paul for three weeks of
December, showing an income OF Sl59, 54s was
an agreeable surprise. since. in view of the
fact that spring wheat along the line of st.
Paul has all been moved, IL indicates that
general merchandise is moving at a normal
rate.
The probability is that the tariff and bond
bill will pass the House promptly. This ought
to have a sustaining effect on prices. The
real danger is with the Senate and IL they
delay action. the latest rumor is that another
issue OF per cent. bonds has already been
arranged.
A Washington special says: President Cleve-
land is said to be in receipt Of kilograms from
every section Of the country protesting
against his policy in regard to the retire
ment of green back circulation. Senator Haven
says there is more probability OF Congress re-
pesling the act which authorizes the sale of
bonds than there is Of the passage of bill
authorizing further issues. Senator Teller
says the two bills tariff and bond will be
combined in one bill when II reaches the Sen
ate, and will fail. as II out of % Senators ex-
pressed their opinion that there was no proba.
bility of anything being done.
Joseph says: "The arrangements for a new
bond issue are completing. but is unlikely
that the treasury officials will make public
announcement until next week"
ToDAY's STOCK BOARD.
There was a renewal of the heavy buying
for short account at the outset this morning
which resulted in material appreciation in
values. Current quotations record a gain in
Louisville g. Nashville of 21+ per cent, North.
west, 2; c., c.. c. s. st. Louis. 1s.: Sugar.
s-s. Rock Island. Tenn Coal and Canada
Southern. Ia. and Lake Shore. per cent.
LOCAL STOCK QUOTATIONS.
gRoM MILLER VAUGHAN