The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-08
FINANCIAL NEWS.
Distinctly Better Feeling in Certain
important Quarters.
Still Bear.sh on Sugar-Jerscy Central
kally-Notcs.

NEW YORK, Jan. S.-There Is O dis
tinctly better feeling, so far as the stock
market is concerned, in those quarters
which may become important factors In
the speculation at almost any time.
People who are in touch with Washing
ton, and know the ropes very thoroughly,
are under the impression that distinct
progress will be made in the course OF the
10 days, both on the currency question
and on The pooling bill.
1t is conceded by the most expert
bankers that the proposition OF MIR.
Coombs of New York 10 let the Govern
ment issue 2h per cent. bonds, redeem
able at the pleasure OF the Government,
not later than 20 years from date OF their
issue for the redemption of the legal
tender notes, is an excellent proposition.
Traders continue TO be bearish on
Sugar and ignore the fact that the Have
meyers are likely to continue the divi-
dends on a II per cent. basis, as heretofore.
One fact not to be overlooked is that
three days after thi, Congress adiourns,
the directors of the Sugar company will
meet to take action on thu dividend ques-
tion.
The ease with which Jersey Central
rallied on the attempt of the shorts 10
cover their outstanding contracts showed
that Legitimate holdings were not for sale
andit is not unlikely that Jersey Central
will sell very much higher before the last
of the short contracts are recovered.
The point Is made by numbers of tho
First National Bank people that the out
look for the coal stocks is about as healthy
now as it was unsettled couple OF
months ago.
General Financia. Notes.
Chicago Gas loaned yesterday as high as
Is per cent.
The weak ness in Missouri Pacific was
caused By the liquidation of line held
by q prominent operator, who concluded
that the Gouds were indifferent to the
market for their properties.
Cotton receipts at Savannah were 10l3,
against 1910 last week. Galveston, 1852,
against 2S,570 last year and Houston,
II, 600 bales, against 5000 last year.
The time OF speculation has been more
hopeful and shorts have covered moder-
ateiy.
Government bonds are not pressing for
sale as much as last week.
In Liverpool the demand for cotton was
fair at full prices; sales estimated at 10000
bales. Futures opened ] up. easy. De-
mand moderate.
London was z higher for Louisville g.
Nashville and 4 lower for st. Paul.
Opening transactions wero generally
fraciiopally above the final figures OF yes
terday and Inc subsequent trading resulted
in Bay State Gas moving up Is, Chicago
Gas 1, New Jersey Central "a
and Sugar q. The dealings thus
far have been rather light and at this hour
". j. {. and Chicago Gas are quoted q
lower and Sugar has lost the earlier gain.
A renewal OF the selling pressure against
Mo. Pacific has caused a loss of q TO 22h,
and the main tendency is downward.
Cotton--Futures opened firm; sales 800
bales. Jan, $50; keb., 5.5l; March, b56;
April, 5.6i; May, 5.G6; June, $40; July
5.76 Aug, 5.Sl; Sept, 5.Si; Oct, 5.S7;
Dec, 5.07.
Providence Clearing House.
The clenrings OF the Providence banks
today amounted TO 81 ,3G7, 400.