The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-26
FINANCIAL NEWS.
Sugar and Manhattan EIe-
waited Destined to Go Up.
Some important Inside Facts on the
Anthracite Coal Situation.
Special TO The News.

NEW YORK, April 26.-Moore & Schley
discontinued their sales of Gas yesterday
long enough TO execute liberal riders on
the long side of Sugar. Kirkner, Potter
a. Company, Wormser & Keene, brokers,
were early buyers. Later Moore q Schley
carried the price up and in the
opinion Of traders there was no
selling on balance during the day.
Ii was assumed that Sugar stock has
lately been accumulated and that an ad-
vance 10 about 40 will be necessary to
turn. Better profits for the company are
expected to bring outside buying when
the advance is announced.
There was considerable indecision last
night as to whether the reaction Wednes-
day afternoon was all that need be
expected, or whether the improvement
yesterday was a rally from that reaction
to be followed by further declines.
A large holder Nof c., b. & O.,
and a director, makes the point
that the decrease in expenses
on the system will continue to be an inn
portaut- factor long after business i'm
proves, and as the result of it net earn
ings will be much greater, relatively,
than heretofore.
The tendency of the general market
under the circumstances will be higher.
1t is true that the Coal shares do not par
ticipate because there is so much con-
fusion concerning the actual condi-
tion ~ tho anthracito aituation ua,a
are the absolute facts of what happened
at yesterdays meeting Of tho coal agents.
That they aid not come to any definite
agreement was caused by the inability of
many of those present to take a position.
They attended the conferences, as three OF
the gentlemen remarked, with
out instructions to cooperate in any ad-
vance in prices" The committee, there
fore, could not possibly do anything ex-
cept take IN adjournment until Tuesday,
with a distinct understanding that the
representatives at that time shall come TO
the adjourned meeting with positive in
structions regarding the restriction of
output and an advance in rates.
General Financial Notes.
The action of Germany in adopting a
duty of 10 marks on refined and raw cot
ton seed oil, is called by j. S. Bache & Co..
a bear argument on Cotton Oil which will
affect the earnings.
Joseph says: 81 am still bullish. The
market is like an incoming tide. 1t can't
be diverted because 1t must run it's
course. Manhattan Elevated will
cross 100 and sell at 125.
Chicago Gas is enough to tire ones bull
lish patience, but it is a good stock to
bull. Don't get short of c. b. &. O., and
buy Reading. Missouri Pacific is good
for a turn"
Silver is up lie in Liverpool.
II is reported of the Sugar trade abroad
that the primary raw market prices are
above the parity Of those ruling here. The
talk of an advance did not stimulate ex-
orders for refined.
1t is talked that the annual report OF
Mail will show 3 per cent. earned
stock.
President ELEPHANT OF the Delaware Il
Hudson was in favor of rejecting the
Reading demand.
Cotton.
Liverpool Cotton futures opened 3
points advance; spot sales, 1900.
New York Cotton futures opened steady,
sales, $500 bales. jan, 700; Feb, 7.02;
April, SOS; May, els; June, 6.72: July,
6.77; Aug, 6.s1; Sept, $50; Oct, 6.S7;
sol: Dec, 6.96.
Here are some pat tips" on the Cotton
market received over c.. Franklin Nu-
gent & Company's private wire:
Liverpool Cotton this morning
an advance OF 2 per cent, but
our markets did not sympathize to any
extent. The rains in Texss has frightened
some intending buyers, and they are now
aloof, waiting for further de-
velopments- AS in the recent past, when
hey do buy tho will probably be obliged
20 pay from 8 TO 10 per cent. above ruling
We are In receipt OF advice from
sections saying rains are still
needed and the fall is totally inadequate
o place cotton Ia proper shsp,. Spot
dealings have fallen off, but prices ore we'll
held.
Providence Clearing House.
The clearings of the Providence banks
-o6uy amounted to s73z, 200. "
Railroad Earnings.
Mex. Cen.-3d Apr, s176,5s9; Inc.
'15, 775.
NJ. P.-3d Apr, s3so,ooo; inc, $4,000.
G. P.-3d Apr, s2s2,0Oo; dec, 1000.
l.. T.. n w.-3d Apr, se6,i 0i; inc, s9s19.
n. ", o. & W.-3d Apr, SOC, 7si; inc,
1I72-