The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-25
FINANCIAL NEWS.
Yesterdays Market Peculiar Today's
Opened Bearish on Changers.
Remarkable Gold WithdrawaIs-Al
Eyes ON Washing gton-Gos

NEW YORK, Jan. 25.-St. Paul net
earnings for December are due any time
within week. They compare with
$3.50, ,440 in 1898, s1,331,is9 In 1892 and
81 ,424,057 in 1891.
Neither interest in the market was en-
tirely satisfied with the outlook yester-
day. Bears did not come out very freely
in view OF the geld engagements and the
weakness Wednesday. Bulls felt some
what disappointed Because the rally was
not greater and because in cases where
stock was covered, as in North West, it
seemed TO be obtained without trouble.
The break in Lead was regarded as on sales
from long account and there was talk of
pool selling. The strength Of Sugar occa-
stoned surprise and led to the covering of
some short stock.
Bankers thought the magnitude OF the
gold engagements would lead 10 bond Of
ferings very soon; perhaps next week.
Doubt was expressed az to whether the
treasury would be able to sell another
block of bonds without considerable con-
cession in prices.
The loan market showed little easier
rates as the result OF covering in c. b. 81
O., N. W., and few other stocks.
Even the leading bear traders seem
satisfied to take verw moderate profit
for the time being on their ventures.
They do not believe there will big money
in depressing stocks, as conditions are
likely to change'in favor OF the bulls and
these will temporarily lift prices.
There is no doubt bat that both the
c. b. & @. and II. /. have run to the end
OF the lane OF low prices and for few
months at least, because of the very light
traffic receipts with which they will ccm-
pare. for the corresponding period last
year they cannot fail to show some i'm
provement. The reduction in operating
expenscs'wiil naturally cause the exhibit
from month to month in net returns To be
relatively Improving.
Those who are best informed at Wash
ington say that they have positively no
doubt that the Patterson Pooling bill will
pass the Senate practically without
amendment. The result must be to cause
a sentimental rise inthe general market,
and while the bankrupted properties are
without future and the longer holders
cling to their discredited shares the
greater their loss will ultimately be,
nevertheless those in common with the
gilt edge and questionable dividend-pay-
ing Changers will have squirt of from
one to three points as soon as it is GER
tain that the measure for which the rail-
roads have been so assiduously fighting
will become a law.
General Financial Notes.
Walt street wus never mors professional
than it is today.
The New York News Bureau says "The
dividend on Chicago Gas has been paid
this morning by check OF the Central
Trust Company"
The earnings OF the Chesapeake & Ohio,
for he third week OF January, increased
S7701; Ontario q Western increased S4660.
The Treasury reserve is down to about
100000 900 above the amount when the
last bond issue was made.
Offerings OF spot cotton from the South
were very heavy this morning at reduced
figures. They seem to think New York is
the only place to sell it.
Liverpool wheat quiet and u lower.
Total gold for export tomorrow, as re-
ported IL a. M, is se,650,0o0. The "yellow
boys" are being Withdrawn at an uprece-
dented rate.
rhe Mollenhauer Sugar Refinery sold
all sugar stored and manufactured and Is
now getting fair profit on their product.
Grain rates to the seaboard from Chicago
have dropped as low as 1914 cents, Just
half the tariff.
Washington special says, "rhe report
OF the Senate Pacific railroads committee
as to the condition OF bond-sided Pacific
railways and their branches out, and their
ability to pay Government liens, ETC., bA
ready, but Chairman Brice says that he
is waiting for the House commit
tee to report its amended bill"
1t is also stated that Chairman Butler
says no agreement has yet been made as to
the vote on the Pooling bill. He believes
that 1t will pass. Aldrich says any bill
that has opposition al this late day is In
danger.
The total Withdrawals of gold for the
week up to today were as follows: Mon
day, $3.50, ,000; Tuesday, $1,000, 900; We'd
nesday, sl.650,0o0; Thursday, s2,7S0,000;
total. s6,2S0,00O. Among those who
will ship by Saturdays steamer
are Lazard Frcres, Heidelbach, Ickelhei-
mer q Co., Ladenberg. Thallman d Co.,
l.. Won Hoffman & Co., Barring, Magoun
& Co., and Knauth, Nachod and kuhne.
All OF the gold Withdrawn will not be
shipped.
Cotton features opened steady; sales,
6l00 bales. Feb, 5.f3; March, $40; April,
5.52; May, sos; June, $50; July, 5.6i;
Aug, 5.7O; Sept, 5.7i; Oct. $50; Nov,
$50; Dec, 5.SS.
Providence Clearing House.
The clcarings of the Providence banks
today amounted to s757,6