The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-29
FINANCIAL NE EWS.
Most Interesting Description
of Present Market.
London Must Give Renewed Evidence
-o OF Better Times.
Special TO The News.

NEW YORK, July 29. 1.-The market for a
moment Is largely professional one. Its
character is not likely to change immedi-
ately. 'Tell me what you and your
neighbors are doing and can tell you
how the world fares with me-" says an
old German proverb. Commission houses
as general thing are in the position OF
Micaw waiting for something to
turn up" Money Is abundant and those
institutions that few weeks ago were
inclined TO raise their rates, both on time
aud call loans, are now in the market
offering funus at nearly as low rate OF
interest as at any time during the past
year. Brokers are not borrowing any
considerable amount for the reason that
tney are not carrying lines of stock. The
absorption that has been the mainstay of
the market still goes on to moderate
extent The reports that come from the
various transfer offices encourage the be-
lief that investors have taken the advan-
tage of the raids and low prices to pick
mp bargains here and there. The great
hope of the street is that renewed ac-
tivity and buoyancy will take the place of
lethargy. An heroic effort will be made
to start the European markets and ii Is
from London that renewed evidence of
better times will come
The bull points on Sugar, Gas and Cen
eral Electric are getting quite thick.
Mr.. 5. V. White says: "Sugar will sell
at 130, think, before the September divi-
dend is paid" In specialties both L. a.
n. and Reading are likely to render
most excellent account. There Is no doubt
whatever OF the rapid progress that Is
being made toward a settlement OF the
Coal strike. The earnings of the L. & n.
will soon begin to show up remarkably
well.
The papers are reviving the old rumor
OF the Pennsylvania and G. b. q q. com
bination.
London is firm at Is to 1-2 higher.
The st. Paul Pioneer Press says the
Northwestern farmers will require II, 900
men and over GO, 600 cars before the harv-
est is over.
The ST. Paul meeting for the dividend
is likely to take place the second week in
September.
The Southern Railway will probably
show surplus for the year of about
s46S, 900, equal TO "a OF j per cent. on the
preferred stock.
The Pennsylvania Railroad has placed
aother order for the box cars for August
and September delivery.
ToDAY's STOCK BOARD.
WALL STREET. July 29.-The stock
market opened strong and active with the
Changers displaying the most strength
against Chicago Gas directly after 1915
a. M, and a loss of i per cent. ensued.
The heaviness of the stock was commu-
nicated to the general list, and losses
werv recorded ranging up TO per cent,
in which Colorado Fuel was most promi-
nent. The downward trend of values
was soon checked by liberal purchases
all through the list. Cotton Oil moved
up 1sl per cent, and the other shares 1-S
to rs.
Joseph says: "Betier bull Atchison.
The success of the Crganization is as
sured and Atchison is good for a 10 point
rise
The bears attacked Industr'als after IL
o'clock, breaking Distilling IA, Chicago
Gas and other shares of the group a frac-
tion. The railway list was also depressed,
but the losses were slight. Sales at noon
173, 200 shares, including 159, 900 listed and
13, 800 unlisted.
The bulls rallied to the support of the
market soon after midday, and marked
Nickel Plate second preferred up 13, per
cent, ST. Paul preferred 1l2 and Louisville
4 Nashville and Oregon Short Line, per
cent. Trading is rather quiet, but prices
are maintained at close to the best of the
day.
Wheat receipts, 2a,eOo bushels. Sales,
1,400, 600.
NEW YORK STOCK QUOTATIONS..