The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-16
FINANCIAL NE VS..
Northwest Buying Attracting
Considerable Attention.
New Whiskey Stock Prices Indicate
An improving Market
Special TO The News.


Quincy said yesterday afternoon that
earnings so far In October had shown
very considerabl Improvement over last
year, and 1t encouraged them very much,
as 1t had been feared there would be 20
material increase until corn began 10
move next year. Increases had oeen run
ming from "a to $40, 600 per day and the
larger increases had come within q few
days, which was additionally encourag-
ing. Some of the friends OF Rock Island
said il looked In the board as though
the monetary trust had been buying that
stock. They also said II 1t proved to be
true, the monetary trust had not made
q bad selection ard some time next year
ought to get a substantial profit from
any investment in Rock Island at current
prices.
Estimates of the amount OF Northwest
bought by j. w. Davis & Company In the
last two weeks vary considerably, but the
smallest 10 considerable. 1t 10 supposed
that quite large order was given in the
stock some weeks ago and that 1t has
been executed through various brokers.
This buying, of course, created q rumor
that the vanderbilts were absorbing the
stock and also drew attention to the pos
sibility of advantage TO the Northwest,
resulting from the Union Pacific scheme.
As nobody supposes that this scheme
can be carried through quickly. Union
Pacific was probably not much OF fac
| tor in the Northwest rise. In seeking
reason for buying Northwest 1t 10 hardly
necessary to go much beyond the great
increase in earnings and the probable
| effect of such an increase upon further
dividends.
| While only 200 shares OF the new ID. c.
F. stock were traded IN yesterday in the
unlisted department subject to the issue
| of stock, the price that ruled foreshadow
an improving market for ell the securities
Of the (new) American Spirits Manufac-
turing Company. There is some curiosity
rs to the values OF the new issues sor
which the present Cd. G. +. trust shares
are to be exchanged. 1t may be noted
that at Is for the common shares, 30 for
the new preferred and 80 for the bonds,
the present stock would be worth rs 6-S.
There is no doubt but that highe prices
will prevail for quite a number OF securi-
ties.
The Changers from this on will show
phenomenal earnings. Rock Island being
persistently bought and developments
Of the highest order are pending. Central
ization OF force is to be the objective
point and this will be secured.
GENERAL FINANCIAL NOTES.
The general expectations yesterday after
noon were that London would be a big
buyer this morning This seems not to
be the case, as at 1880 p. M, prices
showed decline OF is for ST. Paul and
Atchison, Lou sville & Nashville being
unchanged.
A large numb of roads are complain
ing on account OF a lack OF cars to move
freight.
Trunk lines are talking OF increasing the
rate on Grain from Chicago to New York
from &c cents to 25 cents, but are undecid
cd on account Of the low prices of &C.
reals.
The Chicago and Minneapolis confer
sncs on passenger business failed yester
Jay to reach an agreement, but will try
again Monday.
/ The Cuban insurrection Is said to b.
, likely to cause . market advance in tn,
prices of Sugar and Tobacco.
The Illinois railroad commissioner
decided yesterday that charges for hand
ling freight in stock yards are illegal
This is quite blow to Chicago roads.
4 d.,
Cleveland is considering the wisdom o
recommending an additional tax of 81
barrel on beer, and a revival of the tn,
on bank checks.
The excess expenditures of the govern
ment 80 far this month, 50, 4S4,667
, At the Stock Exchange meeting thi
.. m, the Central Trust receipts for Ga
will probably be listed.
An important deal is being consum
mated by which the Rock Island will 81
. cure, or practically. control, the low
Central
Joseph says: "The Morgan factors ~
doing all they can to bring about r,
? stored confidence, based upon none
: earning principles.
-" COTTON.
Liverpool Cotton prices steady, busine'
. rood; middlings, 4 1919; sales, l5,0t
bales. Futures quiet bat steady, at abor
IL decline, opening 1i2 up.
t. THE OPENING.
NEW YORK, Oct. 16.-The stock ma
Ket opened higher. Atchison, q Is; 81
c gar, 100 3-s; Distilling, "a 3-s; Gensr
!. Electric, 3s 3-s; Chicago Gas, SO 81
4 Burl nQton, 81 Is; Rock Island, IS ~