The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-03
FINANCIAL NE VS..
Large Holder Of tobacco Sold
Out Yesterday.
Evidence That Gold Shipments Are
Over Tones Market.
Special 10 The News.


NEW YORK, Oct. ga holder OF about
800 shares OF A. Nj. L. sold out yesterday
upon getting some inside intimations
that bad news was in store for the COM
pany in few days, II certain develop
ments took place which were expected.
Just what the nature OF Il news 10 Is
not stated. Those who ought to know,
however, say there is inside swing OF A.
NJ. Il because OF the uncertainty OF the
situation.
There was inside buying of Gas all day
and there were ntimations from the
right quarters that the stock would sell
above 75 this week. The plan OF reorga-
nization is understood TO be perfected
and will probably be formally passed
upon today and issued, perhaps tonight.
Nothing definite as TO details is yet ready
for publication, except the main idea
that all the companies will be consoli-
dated into one and that com pany placed
in a firm and legal position under the
laws of Illinois. What methods Will be
taken to accomplish this are still with
held. The suit against the Fidelity Trust
Company may and may not be a factor
in the matter, decision against the FL
deity Company being, perhaps, help
in carrying out the plan. IL ~ also
known that two of the oldest companies
have the right TO lease the other COM
panies under their original charters and
have carefully studied every point in the
plan and stated yesterday that they were
satisfied that ii wgs without a flaw and
was certain to be a complete and speedy
success.
The evidence that there would be no
gold shipments at present gave tone TO the
market. Interests which have been hold
ing of to see whether gold would be
taken, took hold of their stocks and
there was covering by the room and, 10
more pronounced extent, in G. u. q. The
special movements In T. G. l., Sugar,
Illinois and some other specialties were
regarded as the direct result of the gold
situation. The only drawback to the i'm
proved tendency was the lack OF commits
sion buying.
The bears have not left Manhattan
alone and It is estimated that IL will re-
quire at least 5000 ana probably more TO
make good outstanding contracts. Man
haitian will sell at 100 this winter.
GENERAL FINANCIAL NOTES.
st. Paul earnings for the fourth week
| OF September increased si01, 900.
IL is reported that Sugar net earnings
are 10 PER cent. greater than last. Bulls
| think Sugar will advance TO 10 points
and would go higher but for the meet ing
| OF Congress.
The L. q n. report is very good, espec-
| lhllN ClehtlHB up olu ACCOUNTS.
| The earnings on stock were % per cent.
Joseph says: 1.-THE earnings for 81.
| Paul for the fourth week are better than
| the most liberal estimates ~
Dow, Jones x Company state that John
1nman says: "We shall advance price
OF iron at least $3.50 per ton before tho
! end of this year. All of our long time,
| low priced contracts have run out and we
are making dividends on the common
| stock OF 4. &. |. -
j. =. Bache a Company say: General
| Electric and Kansas 4 Texas preferred
are worth watching. The stocks will do
| better II the market broadens out, as IL
has a very good prospect OF doing"
The London market is fractionally un-
changed.
A Cincinnati special says that W. T..
Hutton OF the reorganization committee
| yesterday purchased the last Distillers
bond in public hands for the company
! at ~