The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-12
FINANCIAL NEWS.
An Important Fact Which Will Sway
Wall Street Some.
Chicago Gas and Sugar-Delaware
a. Hudson Outlook-Notes.
Special 10 The News.

NEW YORK, Jan. 12-There is one very
inportant fact that will probably hold
more or less sway in Wall street during
the next few days, particularly il Congress
should fail to indicate speedy action on
currency matters. Banks which
will have a number Of loans maturing on
Monday have already signified their in
tention not to renew the same on loug
time basis, but to let them remain undis-
turbed on call at particularly low rate
Of interest.
Money is remarkably cheap, and Wall
street, that is not loaded up with stocks
to any considerable extent, has little or
no use for longtime loans. The sugges-
tion, however, that some little corner IL
sprung is worthy of more than passing
attention.
Concerning the stock market, it may be
said that distinctly better feeling pre-
walls. There is no doubt but that in the
course of the next two months, provided
that there should be no disturbing infin-
ence in the shape of money OF other
scares, prices will be infinitely better than
at present.
There is no doubt but that those who
sell Chicago Gas at these prices will lose
money unless they are satisfied To take a
quick profit brought about by depression
caused by short sales by more risky
parties.
There has been good buying
of Sugar, and the coming week
promises TO see another old time whirl in
this property. A prominent operator who
frequently writes privileges was asked
yesterday to sell 60-day paper on Sugar
at 105, for which per cent. was bid. He
declined with thanks"
Delcware & Hudson, so the Vanderbilts
say, will sell at 40 before it reacts APP
preciably from these prices.
There Is every reason TO believe that In
the course OF few days the announce
ment will be made that new combina-
tion has been entered into by the
leading anthracite producers and that
percentages will practically be upon the
same basis as those OF nearly year age.
Under these circumstances both Jersey
Central and Delaware 4 Hudson ought TO
60 up.
The feeling on Western Union is not
bullish, compared with other stocks, and
1t is intimated that a drive may be made
against this particular stock.
There will probably be further sus-
tanned advance In Chicago Gas.
General Financial Notes.
Considerable gas was seen to be leaking
this morning.
London closes steady, except for Erie.
Rumors of reorganization, calling for as
sessments, depressed Erie.
Liverpool cotton y per cent. lower.
II has come in sight; 201 900 bales against
13S, 900 last year.
y AS was prophesied yesterday afternoon,
IL anything broke in the market 1t was
to be gold shipments. Only S2,100,000 TO
go out today.
The squirt yesterday afternoon shows
the extent of the short interest and re-
fleets more hopeful feeling on the part
of the traders.
Bonds are i'm better demand again and
sterling is strong.
Reading is very weak in London. The
statement is bad and shows deficit for
railroad company of s9j1 400; coal COM
pany, 81, ,025,60l, making total or Il $685.
007 This shows n deficit of s14S, ,399
OH general charges ahead of general
mortgage interest.
The Gas meeting takes place Monday
and everybody expects new board to be
elected, but there is no confirmation yet
that the old board will go out.
Following is an excerpt from the weekly
market letter Of G. Franklin Nugent and
Company:
Since our letter Of a week ago the stock
market as whole has shown quite little
Improvement. A few OF the "mongrels"
whose feet have not been trained
TO keep step with the music have
been little slow in starting but
~ these are Of vicious nature, anyway,
and never do what IL expected OF them,
then actions will not seriously affect the
onward marc h of such veterans as North
west, st. Paul, {. B. g. a., Rock Island and
Delaware Il Hudson.
BY "mongrels" we mean such stocks ss
Whisky, Cordage, Bay State Gas, Rub
Der Common and the like, where the lash