The Providence news. (Providence [R.I.]) 1891-1906, 1895-06-18
FINANCIAL NEWS.
Prominent Banker Talks of
Conditions Out West.
Insurgents Raising Cain With Sugar
Industry in Cuba.
Special 10 the News.

NEW YORK. June ls-A Broad street banker
OF large acquaintance with railway men re-
turned yesterday from Western trip. He
said last night: ~ found Chicago sentiment
bullish. There was a more hopeful feeling
among men engaged in large business enter
prises, although some Of them thought the
advance in stocks had fully discounted i'm
proyement in conditions. Among railway
men opinions all began with an if. IL the
crops are up TO even present indications, the
result for the roads will be better and GER
tainly not worse for holders OF securities
But the Improvement is not pronounced
enough yet 20 make railroad managers san
guine. They like to see the actual returns
The great Industrial managers say there Is
more business, but they are meeting one com
plicaton which is a source of embarrassment
That is the labor question. Employees read
about the Improvement in prices and bust
ness. They find that the concerns they work
for have taken large contracts and they de-
mand increased wages. The companies cannot
refuse business just when IL is starting up.
Thsey cannot default their contracts and they
are consequently compelled to pay advances
in wages beyond what is justified by the i'm
provement in businesses. ] am afraid this Is
going TO make trouble, unless some wav can
bo found of securing greater stability in
wages"
Although considerable effort is being made
TO bring about a reaction in Sugar, IL Is un-
likely that anything of formidable decline
viii be rucorurd- fort the -reaseff-tAst st-rery
strong buying orders within one point of the
market are known to be in the stock. The
position of the Sugar company is almost inn
pregnable. The raw products Of 1885 have all
been bought up and the Havemeyers are GER
tainly masters of the situation. The insur-
rection in Cuba is "A bull argument of no mean
proportions as far as Sugar is concerned and
just what the uprising there means may be
gathered from the following extract from an
editorial which appears in today's Herald:
"From a financial source Of high authority we
hear news about Cuba which may prove of
Importance. For the first time, according to
our informant, who has close relations with
the island. the business classes are becoming
concerned about the spread of the insurrec-
tion against Spanish authority. Heretofore
they have believed that the government could
crush the movement whenever it chose. They
now think that the strength Of the insurgents
is increasing and that vigorous measures are
likely to be required. Nearly all the crops
have been taken off, there will soon bo little
work for laborers, and the laborers are there
fore streaming off to join the rebel forces
II is noticeable that this intelligence comes
simultaneously from Havana, from Matanzas
and from Santiago, the three chief places in
the island, and. in each case, from merchants
of high standing, naturally ayerse TO disorders
which injure business"
Chicago Gas is likely to reach higher level
of prices. The advices from Springfield, III,
all point TO the one conclusion that the legis-
lation favorable TO the Chicago Gas Company
will meet with the approval Of the executive
Those who have not read and digested the bin
have no idea Of the benefits that the Chicago
Gas Company will derive from this measure.
IL practically will stop all competition and
the gas company, which is now a monopoly,
so to speak. will continue to DO in an unap-
poachable condition.