The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-12
FINANCIAL NE VS..
Bears Are Attacking Sugar
Again Without Cause.
Lackawanna's President Properly
Settles Anthracite Coal Difficulties.
Special 10 the News.

NEW YoRK, July II. Mr.. We'll was con-
sidered the attacking interest in Sugar.
Orders were distributed through good
many brokers, but the sentiment OF those
who derived their inspiration from Mr..
We'll was distinctly bearish. The argn-
ment used is the same, which has been
given since sugar began TO go down,
namely, that trade conditions were un-
favorable and were not getting better.
The refiners were alleged TO be accumu-
lating stocks, despite assurances that
orders were received subject to delay, and
refineries were declared to be running on
short time on account of insufficient stor-
age room. German sugars were said TO
be finding their way into this market,
and canning was pronounced short OF
expectations. 1t is only fair TO say that
these assertions are not In the least con-
firmed by officers of the Sugar company,
who take rather q cheerful view OF the
situation.
The New York Times has quarter of
a column article in which II says that a
settlement of the Coal road differences lis
likely. The question of apportionment OF
the output has been practically arranged
to the satisfaction OF all parties and TO
Samuel Sloan. 1t is well known that the
Lackawanna has been vigorously opposed
to forming any agreement based upon
Readings demand of Il per cent. OF the
output. The president Of d., L. d W.,
however, has come to the conclusion that
IL is ruinous to carry on protracted and
costly rate war, and he has, therefore,
formulated plan-a sort OF pooling ar
rangement-which will be satisfactory TO
the Reading, and at the same time take
good care of all the smaller roads.
The basis of this settlement will be to
let the stockholders of with a compare
lively small assessment, and 1t Is quite
within the realms of possibility that the
junior security holders Will not be called
upon to make any sacrifices of magnitude.
ToDAY's STOCK BOARD.
WALL STREET, July r. The stock mar
ket opened quiet but irregular. The
Leather shares were sold heavily. New
England also displayed weakness and lost
2ls and Tobacco. "a per cent. An inquiry
prevailed for Chicago Gas and rise of 7s
followed. Sugar went off q and Chicago
Gas lost her earlier gains. Distilling
was prominent feature OF the specula-
ton, inasmuch as the stock scored an
appreciation in value, in contrast to the
heaviness of the general list. Current
quotations record a gain of os per cent.
Reading also received excellent support
and went up 12 per cent. The general
market ruled lower, the losses were but
fractional, except for New England,
which sold down to 2ss TO AZ, but rose
to 80.
There were slight gains In the leading
industrials after IL O'Clock. Sugar and
Leather preferred each rose 81, but SUBJ
sequently reacted 1ls and / per cent.
respectively. The railway list was gener-
ally dull and steady, but Canada Pacific
declined 1is and New England per cent, /,
the latter reaching 112 per cent. Toward
noon Leather preferred sold up Il per
cent.
Sales at noon, 100 100 shares, including
so, 600 listed and 80, 500 unlisted.
A slight advance was made in the gem
eral list, but toward ] O'Clock the market
weakened. Sugar and Chicago Gas, under
pressure, receded III and 3. per cent.
respectively Illinois Steel was %. and
the general list sagged. The market
closed dull.
GENERAL FINANCIAL NOTES
Lackawanna has cut passenger rates TO
Buffalo.
London at 80 p. m. was unchanged
Joseph says: "There are two items OF
news today which, under ordinary cir
cumstances. would have an important in
fiuence on the market. First, the British
crops are oil short; Wheat is fully 70 per
cent. smaller than 1t was even last year.
The London Times Is authority for the
statement. The other factor is the settle
ment OF the anthracite coal war;
The Pacific Mail Steamship Company
Is said to have no floating debt, and about
$3.50, 900 cash on hand.
Yesterday the Cambria Iron Company
increased its capital from s5,OOO,OOO TO
81, 900, 900.
The Kansas City stock yards total re-
ceipts last week were 90, 49l head, against
81, 314 last year.
You can buy a seat or Philadelphia
Stock Exchange for s25J,
New York bank clear.ngs today, g.,
$50, go; balances ~. i67, 156.
RAILROAD EARNINGS.
Cleveland, Canton & Southern: Fourth
week June, S20, ,0iS; increase, s277S.
New England Street: Six days July,
s75S6; increase, $50.
Mexican Central: First week July,
Sli6, 127; increase, 1902.
Norfolk a. Western: First week July,
S153, 253; decrease, s1S,055.
Missouri Pacific: First week July,
1912, ,bo0; increase, s97, 600.
Lake Erie q estern: First week July,
$50, 352; increase, s4773.
Canadian Pacific: First week July,
s349, 600; increase, 5000
Missouri, Kansas & Texas: First week
July, s165, S45; increase, sl6, 40.
New York, Ontario a Western: First
week July, S64, 10; decrease S99S5.
pittsburg * Western First week July,
s57, ,0es; increase, S14, 122.
international a Great Northern: First
week July, $50, 634; increase, sS16l.
Mexican National: First week July,
$72, 1877; increase, s557.
Toledo, st. Louis 4 Kansas City: First
week July, $50, 400; increase, si3,3O