The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-07
FINANCIAL NEWS
Some Bears Intimate a
Drive Against Gas.
Congress Is Blamed for the
Decline in Sugar.
Special 10 The News

Srecial TO The News
NEW YoRF, Nov TIT is intimated
that a drive will be made at Chicago Gas
and those people who first outlined the
program ia U. $. Leather, Sugar, Ameri-
can Tobacco and the other and present
very vulnerable trusts, say: "Chicago
Gas has stood like a Gibraltar, but II Will
have TO go, /" and they intimate that the
attack on this property will be as sggres-
sive as il will be concerted. There Is,
perhaps, less Chicago Gas held on mar
gin, or for speculative profits, than has
been the case since this property tirst
came into Wall street.
Notwithstanding the sanguine talk OF
President Ives of the Northern Pacific, II
is believed that a reorganization of the
company on drastic lines, as far as the
stockholders are concerned, must soon be
undertaken.
Congress is responsible for the decline
in Sugar and trade conditions are always
at this time OF the year uDfavorable.
GENERAL FINANCIAL NOTES.
Northern Pacific earnings for the
fourth week of October increased S96, 9733.
London shows little change, except for
st. Paul. which is Il lower. The rest OF
the list in unchanged.
The Erie road was sold 10 the reorga-
nization committee for S20, 900, 600.
Secretary Carlisle in his forthcoming
message, intends to make the banking re-
form issue paramount. He Will recon-
mend the retirement of greenbacks by
means OF a bond issue. This Is very inn
portant and may, when the market set
ties, prove TO be big factor in specula-
tion.
London copper: Spot, A Is; futures,
A 1-2; market easy and 3-S off.
J. T.. Morgan & Company say no gold
Will go out in a national way, although
some engagements are probable.
THE WOOL TRADE.
The American Wool and Cotton Re-
porter says of the wool trade: The market
is placid, steady, firm. The position
OF combing woolc has rarely been strong
er than at date. Certainly they have never
been more firmly held at the seaboard.
Phe same peculiar features OF trade
which we pointed out last week as char
scterizing this waiting period, are at the
moment Visible, and they promise to con-
tinue until something more definire
about the wants of the coming manufac-
turing season shall be known.
The course OF our market has run along
thus far through the year on its own
merits, and the couse has obviously been
determined by events hat have hau little
direct relation TO market conditions on
the other side. That worsted wools have
continued steady to date has been, in
our Judgment, because the local demand
for such stock has been sufficiently active
TO maintain the prevailing rates, and
with what the world knows about the
present supply of these wools there will
have to be a radical change in the charac-
ter of the general demand before there
can be any material depreciation of their
present values. A careful search has failed
TO discover weak spot in the market.
The aggregate OF sales OF all kinds in
Boston, New York and Philadelphia is
5,621, 300 pounds, of which $3.50, $50
pounds we're domestic, and 2991, ,O5O
pounds were foreign. The total sales i'm
the three markets last week amounted to
1854, 400 pounds.
NEW YORK.
The lack of interest in the market
which has been shown by manufacturers
during the past two weeks is even more
apparent today. The market is between
seasons. and there are few manufacturers
who have not sufficient supplies of wool
TO fill all the orders on their books. The
sales for the week amount to 96S, 900
pounds, of which 237, 900 pounds were do
nestle, and 731, 600 foreign.
BOSTON.
Buying, on the part of more moderate
users OF materials, has been, as noted last
week, an cspecia feature of this weeks
business. There has been, moreover, con-
sidera BILE sampling OF medium and below
woods, which promises later on to result
in some good sized transactions; this re-
mark applies as well to pulled wools as to
fieeces.
The sales of the week amount to /, ,4O3,-
$50 pounds domestic and S69 900 pounds
foreign, making a total of 2,272, $50
pounds. against n total of g. 3SS, 600 q week
ago, and n total OF 1867, 500 for the cor
responding week last year. The sales since
January 1, 1895, amount TO liz, 2l7, 470
pounds against 125, 0S5 pounds year
ago.
PHILADELPHIA.
Most OF the business this week has been
confined to local mills which have been
quite well represented. Prices remain
firm at former quotations.
The aggregate OF sales for the past week
has been 2, $50 600 pounds, OF which 9S9,
900 pounds have been domestic and I, 390,
700 pounds foreign.
The sales since January I, 1890, amount
to 81, 517, ,Sl5 pounds az compared with as
2ll, OFT pounds year ago.
CHICAGO.
The market is extremely quiet. Staple
woods OF both unwasbed and territories
are held firm nt former prices. Sales this
week will not amount 10 more than 300,-
900 pounds.
TT. LOUIS
Trade has been mJderate- not dull by
any means, but steady aud reasonably
good A large sale OF "A blood com bine
Missouri and Illinois is tue feature re-
ported to be going to Lawrence, Mass.
The sales foot up easily 10000 pounds
this week.
LOCAL sTocK QUOTATIONS
PROM suLER 4 vAveHAs
pASE4