The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-13
FINANCIAL NE VS..
Fortnightly Settlements in
London Attract Attention.
Several Very Good Reasons why
Prices Should Improve.
Special 10 Tho News.

, NEW YORK, Aug. 13. The fortnightly
settlements in LONDON attract more than
ordinary attention at this time. III ID
thought that the latent bull feellng
abroad will break out amidst blaze OF
glory, and in the course OF the next lew
days foreign houses are confident that
higher prices VIII prevail for the active
international issues, but more particularly
those which show prospects OF increasing
their dividends. Ii is true that good
many thousand shares of l.. x n. have
recently been returned from London, but
these shares were shipped aboard last May
when the price of the stock was nearly
per cent. lower than the present hgures.
Ii is not unlikely that Europeans Will
rake back their lines as soon as they dis
cover an absence of long stock pressing
upon this market.
The main reason for looking for sub
stantial advances in the department for
American securities is during the past 10
months prominent operators IN Paris,
Berlin and London have made immense
fortunes trading in West Australians,
South Africans and South American prop
critics. When they took hold OF these
they recognized that it was gamble,
pure and simple, but their purchases
turned out even better than they had any
idea they would. Now they have cast
their eyes toward the American market.
They see in the department more than
actions. They base their dealings in this
| instance largely upon merit. They recog-
| niZe that after the period OF depression
| experienced since 1893 there must come
great reaction. In taking hold OF the
! Vanderbilt properties, they recognize that
| i'm l. s. and n. Y. Z. they have golden
| chances, so to speak. Money in London
! Is perfect drug. There is so much OF IT
| that il can be loaned at any rate.
While traders are generally bearish and
are harplng upon the fact that gold Is
! going out and that the bond syndicate Is
| presumably willing that there shall be
! considers BILE outflow between this ana
| October 1, by which time their option ON
another government issue of bonds will
expire, sight should not be lost OF the fact
| that the arguments in favor of higher
! prices outweigh 20 TO those that are ad-
vanced by traders who are working for a
| very marked reaction. Since March last
there has been an appreciation in the
| actual wealth of this country OF fully
/ S1, 600, 000, 600. Business is improving to
| a very considerable extent in all parts OF
! this country; wages have been advanced
so that pay rolls today are fully sl,5OO, 600
| greater than they were at this time last
year. 1t is admitted that the corn crop,
the great staple of this country, will be
| fully 1000, 000, 900 bushels more than last
| year. The value of the increased corn
harvest will more than offset the alleged
deficit in wheat and the loss in other prod
ucts. Another important consideration
is, many stocks are selling today on a
basis that a few years ago would have
been considered panic prices
| Because OF the enormous crop In MIS-
souri,, the Missouri Pacific will make as
much money this year as il has done al
any time since 1887. Ii is only eight years
ago that M. o. Z. was a regular dividend
| payer at the rate of per cent. per anDun
A 10 quoted
Some of the papers have scare dispatches
| from Washington in regard to the gold
| situation, but say that the syndicate vii
turn gold into the treasury TO make gooc
recent Withdrawals.
London is heavy at fractional decline
Judge Woods of the United States Court
will render his decision today in the ID
| &. l.. case.
The Chicago Elevated Railroad hal
broughta suit against Atchison receivers
and others. The effect will be to della,
reorganization.
Ontario g. Western earnings for the frs
week OF August decreased SS573.
The Philadelphia Press says that anthra
cite coal was sold i'm New York yesterda!
at S2. 90 per ton for egg and chestnut
These are not the lowest figures, as chest
nut has solid at g. but considering
everything, they are about bottom. -.
Raw Sugar Is shade hrmer, despit
the limited demand.
Government excess OF expenses so ia
this month is s5,S9l SIS; since July
S16, $40, 254.
Joseph says: "Don't get too bearish
Let il be conceded that we shall ship so,
900, 600 or $40, 000 600 gold; we have don
similar things on previous occasions whel
the outlook was not as bright as 1t
now"
ToDAY's STOCK BOARD.
WALL STREET, Aug. 13.-The stocl
market opened quiet and generally lower
Tobacco went of / per cent, but the re
cessions i'm the rest of the list were merel
fractional
Distilling was I'm request after 10 70 an