The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-02
FINANCIAL NE WS.
Mining Speculation Prevents
British Buying ofAmericans.
Tsday's Market Opened Strong and
Will Improve More.
Special TO The News.


NEW YORK, Oct. 2-Speaking OF the
apparent apathetic feeling on the part OF
British investors, one OF the shrewdest
operators In this market said yesterday:
"Can the attitude OF London be won
dered at when one takes into considera-
tion the enormous activity abroad In
South African Ksffirs and West Austral-
Ian mines? You must remem Der that this
peculation that has now assumed glgan-
tic proportions is not limited to London
alone, but is as much OF craze in Paris,
Frankfort and Berlin. Talk about Monte
Carlo why, It is as nothing compared
with the dealings that are now taking
place in mining shares in the principal
capitals OF Europe. The fever is at It's
height, but there is no saying how long
IL will continue; but until such time that
II does break, and heavy losses follow,
attention will not be diverted to the
American markets. Does II stand to rea-
son that people VINO SO such golden OPP
portunities to gamble in these particular
mining properties will divert their atten-
tion for the time being TO our securities,
in which the fluctuations 40 not vary on
an average 3. per cent. a dayy"
The market in all proba bility will i'm
prove more. There is an unmistakable bull
ish feeling, and commission houses have
quite a number of orders 10 take the nc
tive issues on any little recessions from
these prices.
st. PSul earnings will come out after
the close today, and II any one can judge
by the car movement the increase for the
week will be $50, 600 to S100, 600. When
one considers the fact that there were two
Sundays In the last week of September,
the showing that st. Paul will make for
the period in question will be exception
ally favorable. st. Paul, in all proba-
bility, will cross the so mark this week.
c. Il. & @, Is a purchase on any recess
sion. One thing is certain, and that Is,
the earnings, both gross and net, In {. Is.
h O., will pick up considerably from this
on. The figures during the next six
months will have a tendency. to make
even the bears themselves bullish on g.
Il. & @, and there Is more than an even
chance that dividends will be resumed
before next summer on per cent.
basis.
The Industrisls, Sugar, Gas and ID. c.
f., will render a good account OF them
selves, ana either may be bought and
held for quite substantial profits. There
is no doubt that all litigation, as far as
the gas company is concerned, Will be
amicsbly adjusted and definitely settled.
The Withdrawals OF the suits in the ID. Z.
f., on the terms already announced,
means that the old ID. q. +. trust will go
ahead and make money. Sugar, because
of the trade conditions and the knowledge
that the company is making more money
than IL has made in many years, bids fair
to sell considerably above 1lb.
There Is little in the position OF Pacific
Mail for the moment to bull that stock,
but as IL 10 now generally conceded that
all negotiations between the Panama and
Pacific Mail are Of under ordinary circum-
stances il should cause the selling OF
those speculative holdings that were taken
from 20 on the theory that Mr.. Hunting
ton and Mr.. Simmons, representing the
two interests, would bury the hatchet.
ToDAY's STOCK BOARD.
WALL STREET, Oct. 2..-The market
opened quiet and irregular, with the
changes more in the nature Of advances.
Manhattan showed gain Of 1l2 per cent,
Canadian Pacific, III Sugar and Susque-
hanna & western preferred, lis, and Chi
cago Gas 7s per cent.
Numerous fractional gains have been
recorded during the past hour with su.
gar, Chicago Gas and the Changers most
prominent. The market at this hour
rules strong on an increased volume OF
business.
GENERAL FINANCIAL NOTES.
The lower market for Exchange and
continued rumors Of Coal deal are prin-
cipal factors in speculation.
We'll brokers are becoming active again
in trading.
trip may be connected with Northern Pa
cifc matters.
London Is firm at fractional advances.
Brooklyn Elevated earnings for the
week increased 1929.
Gold in the treasury this morning, s92,-
911,97
Bankers say that shipments OF gold are
not to be thought OF, as the Exchange
market Is very weak, and money is more
active.
The earnings of four roads for the third
week OF September show an increase OF
1852 per cent.
London spot copper, 46 rs; futures, AZ
IA; market firm at Il advance.
NEW YORK STOCK QUOTATIONS.