The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-16
FINANCIAL NEWS.
Those DiiferentiaI Taxes on Raw and
Refined Sugar Discussed.
Attorney General Moloney and Chi
cago Gas-Gold to London.
Special to The News.


NEW YORK. Jan. 16.--Sugar stock sold
of about / per cent. yesterday on
the recommendation by the House
committee TO repeal the tenth
differentia. Support was given around
89A. 1t Is understood that the repeal OF
the tenth differential would not be con-
sidered by sugar people an unmixed
evil, provided that the reopening OF
the subject did not lead TO
taking of the eighth differential as
well. The fact that the tenth applies on
raw sugar from bounty countries
as well as on refined, and may be
found to apply to raw sugar from
Cuba also, makes the tenth differential of
very small advantage to the Sugar Com
pany. The Sugar Company, of course,
would like TO have the tenth taken off
from raw and retained on refined, but
taking it off from both is not so very
different in its results from leaving it on
both.
Attorney General Moloney OF Illinois
Is threatening all manner of illegal and
direful acts, and vows that he will give
the Fidelity Trust Company Of Philsdel-
phia hard fight on all Chicago Gas mat
ters and that he intends to enjoin the
payment of dividends. In order
that holders of Chicago Gas stock need
not become unnecessarily alarmed, and in
order that those who attach Importance
to the words of Attorney General
Moloney, ii is stated that the Union Trust
Company of this city will go on paying
the dividend on Chicago Gas az hereto
fore. There is no doubt but
that in due course MIR. Il. IT,
Lincoln VIII become prominently
identified with the Chicago Gas Company.
That Benedic. and Moloney have always
stood hand in glove and that the sundry
pus-up jobs on Chicago Gas have been
arranged with the full knowledge aud as
sent OF some OF the insiders, no ono who
recognizes the last attack can
doubt. Gas may 60 temporarily lower,
because holders may be scared al
what Moloney threatens, but it is certain
that those who Will hold their STOCK Will
come out all right in the long run.
The earnings Of st. Paul for the second
week Of this month will be cut
after the close of business
today. The weather has been very
severe in the West, and the statement
for the seven days due this evening is
expe ted TO amount in The neigbborhoOd
of $4,000. st. Paul will be signalicd for
attack, especially as those who covered
yesterday claimed they got their STOCK
without any effort aud that the sales on
the bulge were by people VINO were
hitherto friendly 10 the stock.
Cotton futures opened quiet and easy;
sales 1890 bales. jan, -; Feb, 5.s3;
March, 5.57; April, $50; May, 5.64; Jene,
5.69; July, 5.73; Aug, SIS; Sept, 5.Sl bid;
Oct, 5.87.
General Financial Notes.
The market opened off u to q. TIE
largest trading was in Gas, in which there
appeared to be BLOCK of stock for sale.
Selling in Sugar was called good. although
the points were TO buy. Reading was
pressed for sale, without finding much
market.
Business in London was very dull. The
market was fully up TO New York parity.
Liverpool cotton had fair demand;
saes, 1900. Futures opened easy with
moderate demand.
St. Paul earnings TO be given out to-
night will compare with S4Sl, ,i45 In 1894,
s602, ,391 an 1898, s577, ,553 in 1892 and si67,-
S3i in 1891.
Lazard Freres shipped ss50,0O0 gold to-
day on the Paris. 1t goes TO London aud
is the first shipment of the kind this
season.
The market opened at y decline, but
soon advanced y per cent.
A Washington special says that the
railway pooling bill will be favoaably re-
ported to the Senate next Tuesday.
The Standard Oil people as a company
are not identified with Chicago Gas, but
individuals connected with the oil com
pany have large interests in Gas.
GoldshIpments this week will be about
three or four millions.
Providence Clearing House
The clearings OF the Providence banks
today amounted 10 81 ,1S2 600.