The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-17
FINANCIAL NE WS.
Tobacco Insiders Admit Sc
rious Aspect Of Opposition.
ST. Paul Earnings Are Very Much
Better Than Estimated.
Special to The News.

NEW YORK, Aug. 17.--American Tobacco
people are admitting privately that the pro,
posed opposition has "a rather serious aspect,o
II and IL Is not "a matter TO be gwen sheht
consideration only. These admissions arc
leading to more or less selling OF the STOCK.
and people well posted on the movements OF
insiders think they are inclined TO Iet tns
stock work lower without offering any speeia
support just at present some OF tne leau,ns
interests in Tobacco are out OF the CITY puo
the active members of the organization are
giving pretty close attention to the anairs Oh
the country.
good selling yesterday from houses which
had heretofore been quite bullish on the
stock. The selling WAS on the exhlbit OF sne
company's earnings. The feeling Is also ,ha.
the company's earnings will decrease steadlly'
rather than increase from the present com
petition, and that its savings must come
from the introduction OF some otner more
economical motive power, II possible. Ihls
causes people who have been actively Dullins
Manhattan TO hesitate and IN some cases TO
sell.
There was no change In the general tone or
the market 70 tho effect that there would De
nothing more than see-saw movements ex-
cept in specialties, for a week or two longer.
There was some comfort in the moderate pur-
chases of 81. Paul for London account. ana
the small exports of gold for today. Nothing
was expected OF today's market OF any I'M
portance.
The president OF one Of the anthracite coal
roads says that although there are no lnolca-
tions of a settlement OF coal difficulties NO
expects that an adjustment will be announced
over night, and that it will fall on the market
like a thunderbolt.
week were rather better than was estimated.
In that they show an increase Of Sl6,9l7 bring
ing the gross total up TO s62S,34l, as against
SSH 200 for the corresponding week last year.
This gross increase OF per cent. VIII be
considerably multiplied in the net.
TopAY's STOCK BOARD.
WALL STREET, Aug. 1.-THE initial prices
tina main sllglfly above the maj
hgures of last night Tobacco was down 21s
per cent. TO LOS. Manhattan was also weak
Tobacco and Manhattan made further
slight recessions, but the general list i'm
proved under the leadership OF Chicago Gas !;
this speciality rising per cent.
The general market has been quiet bat firm
on narrow changes during the past hour.
Oregon short line and Leather preferred each
gained IL, per cent, while Tobacco common
Tell of "a 10 l.04, and the preferred lost 1lz
The market closed firm. Sales TO noon,
CO. 400 shares. including $500 listed. and AGO
unlisted.
Money on call easy at l per cent. Prime
mercantile paper, 81 4a4h per cent. Sterling
exchange dull and easy. with actual business
and at SOFAS saps for 60 days; posted rates,
pOas el. Commercial bills, 4 SS14a12 bar
silver. 66sz Mexican dollars, 534 Govern.
mont bonds steady.
WEEKLY BANK STATEMENT.
New YORK. Aug r7.-The weekly statement
Of the associated banks show the following
changes:
Reserve increase. 50. 236, 100; loans, increase,
$500 loo; specie increase, SOS, 200; legal ten
ders, increase. s3,O03. 900; deposits, increase.
20, 546, 100; circulation, increase, Ssl, 800.
The banks now hold Sal, ,2Gd, sos in excess OF
the requirements of the 25 per cent rule.
GENERAL FINANCIAL NOTES
The sentiment regarding gold shipments is
distinctly l~tter, although rates for sterling
are unchanged.
London IL about u advance.
hio Grande Western earnings for the secont
week of August increased Sll,275.
The treasury gold balance is about Sl02,0O0
| 600.
Raw sugar is quiet and firm: refined quiet.
| A company has been formed TO construct
| railroad from Jamaica to Far Rockaway
| l.. l.
Joseph says: "The market is WAITING
one Traders are emphatically bearish
| Some support will be found in Manhattan
around il3. A dead set will be made t'
catch tobacco at lO6.
PROVIDENCE CLEARING HOUSE.
The clearing of the Providence banks toda,
| amounted To s7is 800; for the week. s4,S92, 100