The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-10
FINANCIAL NEWS.
Encouraging Reports Both in General
Commerce and Stock Business.
Reasons for Strength-No Currency
Legislaticn-Londo Lower.
Special to The News.

NEW YORK, Jan. 10.--One of the most
encouraging features in the situation is
the continued good reports one hears from
people engaged in legitimate business en-
terprises. There is no doubt but that the
wheels of commerce are beginning TO move
in a fashion that promises more rapid
revolution in the near future. Collections
from all parts of the country are compara-
lively good and the volume of business
daily grows perceptibly larger and COR
respondingly better than it has been in
many months.
The effect of this unmistakable i'm
provement in general commerce must be
reflected at no distant date in the stock
market. There is q decidedly
better feeling all around. Brokers
while admitting that they are not busy,
nevert theless say that there is q good in
quiry for bonds and old time Wall street
customers will soon be found ia the mar
ket. All they need Is to see their way
clear and be satisfied that there will be no
adverse legislative action at Washington.
As soon as they are convinced that the
SD congress will succumb peacefully and
without indulging in the kicks of dying
mule, they will come into the market as
buyers have done in the past.
The market appears to strengthen on
defeat of the currency bill. This was re-
garded as an absurdity, except in SO far
as it was argued that the defeat of the
Carlisle bill might open the way for q
better. bill, either in this Congress or In
extra session.
Aside from this, strength was promoted
by an advance in the Coalers and Sugar.
The rise in Sugar was attributed to pool
operations, and in the Coalers to the j. {.
and ID. q III. dividends.
The conditions brought out by the Le-
high Valley report were overlooked.
The advance in Gas was called ma nipu-
lation by the bull interest against shorts.
The loaning rate was materially easier.
London was small seller at close.
General Financial Notes.
st. Paul earnings for the first week in
January decreased s55,33i. The compsra-
tive loss of s55,234, under the circum-
stances, about up 10 the estimate, 1t is
unlikely, however, tnat st. Paul will sell
of very much, as it is understood that the
conditions under which it is suffering are
general.
The bull talk is quite pronounced on
Chicago Gas, and those that are in the
know " feel confident that the stock
will sell appreciably above these figures.
IL Mr.. Robert Lincoln becomes conspicu-
ously identified with the Chicago Gas, the
prestige that will be given by the son of
the martyred President will invite the
greatest confidence.
Liverpool cotton sales were 1900.
Futures steady at to1h per cent. decline.
Lower prices are looked for.
Receipts at Galveston last year 100
bales; this year, 5000.
Price Current says: "Wheat crop con-
dition unchanged; regular visible 80 10 90
millions smaller than year ago. Corn is
not freely offered, nor In urgent demand.
There are improving signs in the flour
trade. Total packing To date, 4,3i5,0)0
hogs; 2,7Oo0o0 a year ago."
There is n great difference OF opinion as
TO the situation Mt Washington, although
there Is little doubt that there will be 10
financial legislation this session.
London is down Z to x on account OF
the defeat OF the currency bill in the
house.
The stock MARKET opened lower this
m )rning
Cotton features opened siendy at the
decline; sales, 1900 bales. Jan, 5.57;
Feb, 5.55; March, 5.62; April, 5.GG; May,
$40; Juue, 5.75; July, 5.79; Aug, 5.S4;
Sept, $50; Oct, b.sl; Nov, 5.9i; Dec,
597.
The Wool Market.
The volume OF transactions i'm medium
and low medium domestic fieeces since
last writing amounts TO over a million
pounds, which shows that manufactur-
ers usiua fl,oe1 xxs..s.la- -ssl<,-,-~~-r-rxfnnsa "a
orders, have been In the merkeb this
week. Then there has been, altogether,
a considerable amount of pulled wool
sold. which some say Is the cheapest OF
anything In the market, taking account
OF the low prices all around. Australian
/. wool continues to be in good request for