The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-16
FINANCIAL NE WS.
Traders Efforts to Recover
Stocks Force Prices.
trustworthy Reported That Gold
Shipments Will Be Light.
Special to The News.

Il
pers OF leading commission house in
| south William street, In discussing the
narrowness OF the market, said: 81 had
an order late yestedray afternoon to buy
iOoO shares Of stock, but only succeeded
| In getting 800 because found that in
order to execute the commission i would
be compelled to pay fully / per cent.
more than the price at which previous
sales had been made. The fact of the
matter IS: there are no stocks Offering.
Traders are generally bearish, and they
mark prices down from time to time, but
when they endeavor TO get back their
snort contracts they find no one willing
to sell them stock, and in their anxiety
10 even up they only succeed in forcing
prices back TO higher level than any
previously recorded.
The experience that was seen in New
England will doubtless be repeated in
many other directions The bulge was
undou btedly caused by an effort to cover
lew hundred shares of stock for the ac-
count OF prominent Bostonian, VINO also
has offices in New York, not thousand
miles from the Mills building. Ii was
a case Of "heads, lose. -
1t is not unlikely that Tobacco will be
more active in the immediate future and
that higher prices will prevail There has
Deen fairly good buying of the stock on
the decline and the manipulation has
been OF character that would suggest
the absorption of quite block that has
been hanging over the market for some
considerable time.
The earnings of ST. Paul that will come
out after the close today, are not expected
TO show any increase, because the returns
for the second week of August 1894, were
fairly good. The fact must not be over
looked, however, that the st. Paul is
making more net money this year than il
did last and that the policy that went
N f1... L.. -
resulted in marked reductions in operating
expenses, is still being rigidly enforced.
The Daily Stakeholder remarks this
forenoon: sit is encouraging TO know
that some of the leading export grain
houses here are inclined to the belief that
the foreign demand for wheat and corn
VIII show gratifying increase in the not
far distant future. 1t is unnecessary to go
at length into market influences. -
Exchange was little easier, owing TO
the appearance OF some security bills and
II was trustworthily reported that Ar
buckle Brothers would not ship large
amounts of gold tomorrow, although
they were expected to send out a round
lot. Hence, shipments for the week will
foot up about s4,000,000.
ToDAY's STOCK BOARD.
WALL STREET, Aug. 10 The stock
maket opened dull and generally firm
Tobacco was sold and went off ga per
cent. Late trading was almost stagnant,
but prices ruled higher all around. The
gain was quite pronounced in Chicago
Gas, this speciality scoring an improvement
OF / Ia per cent.
GOLD SHIPMENTS.
NEW YORK, Aug. 10. HANDY & Har-
man will export 800, 200 gold, and Ness
lage & Fuller 300, 900 gold tomorrow.
GENERAL FINANCIAL NOTES.
Sterling is expected In weaken within
two weeks by shipments of Cotton.
London shows slight advance for the
active stocks.
Raw Sugar quiet and steady; only a
limited demand for refined.
A Cincinnati special says there is no
longer doubt that the corn condition has
lowered since August !, and that the
yield will be short OF 234, 200, 900 bushels,
as the government report indicates. The
wheat crop is likely TO exceed 394, 000, 600
as generally figured.
The syndicate is buying gold direct
from smelters Some gold Is likely to
go tomorrow, probably 5000, 600.
Ii is feared by some that MoIoney will
be going for Whiskey. The Chicago
for the committee does not share
this opinion.
A Cincinnati special SAYS that the drain
upon Cincinnati banks for currency was
very severe this week and money will
soon be drawn from New York
Joseph says 'lt will not be surpris-
ing il n. Y. IL n. T.. should sell at rs.
Charles Head is personally heavily short
and the guaranteed story is vouched
for. This time it is the Boston d AL |
bany GO. Buy r. l., 81. p. and L. & n. |
ON every little dip OF q per cent. or So"
Nav YORK STOCK eUorArIos4