The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-29
FINANCIAL NEWS.
Gould Stocks Have Not Ad-
vanced But Should.
Manhattan Earnings Are Increasing
AppreciabIy Over Last Year.
Special to The News.

Special TO The News
NEW YORK, Aug. 29.-While reactions
are always in order, and the stock mar
ket has had long and substantial ad-
vance, most OF the active and lnactive
stocks selling at almost top notch, the
shrewd judges of values still believe that
the big money of the near future Will be
found on the long side. Commission
houses are almost unanimous In their ex-
pressions of confidence IN the future, and
the majority of these brokers have large
buying orders in all specialitles within
to 2 per cent of these prices.
The Gould stocks have not had any
advance to speak of and, considering the
vast improvement that il likely 10 take
place in business this fall, there is every
reason why recognized dividend paying
shares should sell on a basis more COM
mensurate with their value.
The earnings of Manhattan, all reports
TO the contrary, notwithstanding, are In
creasing appreciably over the returns for
the corresponding period last year. The
showing Is all the more remarkable,
when one considers that there are zoo, 600
people out of this city at the various sum
mer resorts who, II they We're here,
would patronize the elevated system pro-
portionately.
There is some talk OF a bull pool in
Wabash preferred, but there is no reason,
outside OF sentiment, why this stock
should have any material advance. 1t Is
true that the Wabash is in the heart OF
the corn belt, but there is another all-im-
portant fact TO be considered. Wnen the
company was reorganized few years ago,
some 500 miles of road were looped OFF
without the capitalization of the Wabash
being reduced even to the extent OF
dollar a share.
Lead common, insiders say, will become
djvidend-rayer in the course of couple
of months. 1t is claimed that the direc-
tors will declare per cent. on the quar-
ter in about four weeks.
The earnings for the Atchison system
for the third week of August decreased
sS3, 1856; from July to Augut 81, increase,
S535, 399.
The London market is lower; st. Paul
and the others from If to l2.
The Southern Railway exhibit of earn
ings is excellent.
Joseph says: "Better buy some New
York Central. This is certain TO sell at
120 before 1t reacts TO par. The company
is doing good business, and an increase
in the dividend is almost certain.''
ToDAY's STOCK BOARD.
WALL STREET. Aug. 80 The stock
market opened with a degree of activity,
and values generally shaded. Tobacco
receded ga per cent, but the recessions
i'm the general list were but trivial. The
Industrials have been eagerly sought, and
material gains noted in some instances
after 1918.
GOOD GOLD GOING.
New YORK. Aug. 2S. ---Messrs. Cross
man Il Brother will ship y, 900, 600 in
gold on Saturday. The Government bond
syndicate has deposited II, 700, 900 in the
sub-treasury, taken there for legal tender.
The Wool Trade.
The American Wool and Cotton Report
er says: "The wool markets of Boston,
New York, Philadelphia and elsewhere,
superficially viewed, are as quiet as last
week, but there IS a strong undertone.
Prices for good staple wool are strong.
accomplished has been noted, as has also
the limited available supply of desirable
domestic woods. The latter feature has
not undergone much change.
although from some quarters come reports
that agents are little more desirous of
selling than they were a week ago.
Bu. factor that will assist in the pre-
vention of any weakening is that the
wool is largely held in strong hands
dealers who have bought and paid good
prices for IL, and who are likely TO show
q great persistency In holding out for full
prices.
The sales of the week in the three mar
York, Boston and Philadelphia
aggregate 1858, 200 pounds against
6, 675, 900 year ago. The specific sales are
New York, lbs, 800; Boston, 3, ,793, 600
and Philadelphia, l, 331, 700 pounds.
BOSTON
The market in Boston is slightly more
active than week earlier, there being
increased demand for territories, domestic
and foreign secured and Australian.
There has, likewise, been considerable
carpet stock moved.
NEW YORK.
The market situation has been modified
but little since week ago. With the
market as Ii is buyers are taking hold
in an Indifferent manner. But stock is
held i'm strong ha nds. There is a belief
hat the manufacturer who has been hold
ing off must soon come TO the market.
PHILADELPHIA.
The market here has been unusually
1uiet the past week. While some copces-
sion in prices has been noted, there is a
disposition on the part of holders
10 remain firm.
CHICAGO.
The sales will aggregate COO, 900 pounds,
which SHOWS a slight increase over last
week. The general tone o. the market IL
luiet, but the prices remain firm for good
n xools.
ST. LOUIS
Trade has been fair this week. Stocks
ire liberal and grades to meet any de-