The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-04
FINANCIAL NEWS
Look for Sterling to Yield
Very Suddenly.
Then Watch Out for the Rally
to Follow.
srecial TO The News.

New YORK, Nov. 4.-As the Scotch
Judge said, before rendering his verdict
in case where the evidence was very con-
hicting: "There is gude deal to be sed
on both sides" The financial situation
is such that the arguments advanced by
both the bulls and their opponents are
worthy OF some consideration. Eventually
il Will be a case OF the Survival OF the
fittestn and railroad earnings, taken with
the fact that strict economies nave Deen
introduced and will be maintained so
that the interest of the stockholders OF
the various corporations will be better
protected than at any previous time IN
the history of American railroadism,
must tell. Temporarily, transitory con-
ditions will hold some sway. There ls no
Disgusting the fact thnt the present STU
alton is complicated, because OF the great
strength of Sterling Exchange, ana that
nothing go excites bearish feeling IN
Wall street as shipments of gold. IL Is
mooted question, however, whether gold
will go out at all this week. Certainly
none is likely to leave before Thursday,
IL then. 1t Is equally true that the supply
of Cotton bills up to this time has been
very limited, but the movement OF Cot
ton is three weeks later this year than
last and by the end of the week, so the
Cotton bills will be in the market, and
when Exchange once begins to yield 1t
will not stand on the order of reaching
those figures that may naturally be looked
for at this season, but the drop will come
in a sharp and decisive manner.
The results of tomorrow's elections are
awaited with a great deal OF interest. IL
seems to be the general belief that the
Repuhl party will be victorious in
this State. Whatever the result is, 1t IS
thought thst in the event of the market
not rallyiue today 1t will certainly have
a squirt on Wednesday and for this rea-
son some Of the most cautious commits
sion brokers suggest the advisability of
at least covering shorts.
ToDAY's STOCK BOARD.
WALL STREET, Nov. 4.-Sugar rallied J..
per cent. to 1io and the general list a
fraction. The gains, however, were not
caused recession in which some shares
touched the lowest figures of the morn
ing, particularly Louisville & Nashville
ana Atchison.
GENERAL FINANCIAL NOTES
London at 1 80 was lower for Ameri-
cans, IL for st. Paul and the rest, except
l. q N. J.. up. The Kaffir market is still
unsettled. Discount rate 3, per cent. A
Paris special says discount 10. Exchange
i'm London has declined and centimes.
This is probably continuation OF Paris
sales in the London market.
Despite the great earnings OF st. Paul,
which show an increase for the week OF
1913, ,562, the week consists of IL days.
For the month Of October the gross in
crease was $500, 970
Treasury golo. S92, 9i5, 20.
Joseph says: "It Is not at all unlikely
that Kusssll Sage will be directly respon-
sible for an attack on Western Union.
His remarkable and unmistakable bearish
utterances are certain 10 encourage drive
against the Gould pups. The impress
sion is that Sugar viii have a quick rally
of q couple of points. Cover shorts and
wait for the furry. Buy little ID. G. f..
and hold both r. G. i. and Gas and keep
long of st. Paul"
The boycotts against the American To-
bacco Company was resolved on Saturday
at st. Louis by tobacco workers, 5000
strong. The cause was that the COM
pany refused TO recognize the union.
The London market at p. m. was
weaker. st. Paul equal to "a 5-S,
which is IA lower that the | 80 cables.
Rock Island estimated gross for Octo-
ber increased S123, 64d.
London Copper, spot, 443i; futures, 40
is; steady and 3-S of.
COTTON.
Liverpool Cotton at 1890 p. m, good
demand, prices firm; middlings, 23-32
futures opened steady, demand fair at