The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-01
FINANCIAL NEWS
Market Starts With a Whoop,
But Reaction Expected.
March's Good Record I'm Sugar Holds
the Fort-Gleanings.
Special 10 The Now.

NEW YORK, April 1.-The weakness in
ID. g. +. in the face OF a strong market
was considered rather adverse to the long
side. Bache & Co., were again large sell
lers and there was talk about selling by
interests which bought considera bic few
days ago. People whose information OH
the stock has been good said there would
be no advance just yet, as the rise had
been considerable and stock lately sold
by insiders would have to be digested be-
fore another material rise would be
reasonably expected.
A large operator says: Sentiment is
playing a very important part in the
present market. Facts are considered OF
course, but those who operate only on the
facts which develop will get left. They
will buy when prices are all up. The
facts are bearish still when the present
level of prices is considered, but senti-
ment is the lively factor now and that
means the creation OF facts
later on to warrant higher
level of prices than we have yet
seen. When business men feel good
and are full of hope and energy they put
their shoulders to the wheel OF industry
and give it a turn, so to speak, which re-
suits in money making and the creation
of additional activity in the business
world. At the present time business men
are feeling better. They feel that they
are coming out of hard times into
better ones. Hope grows stronger
in men just now as the sap in the trees
creeps higher. One of Mr.. Comstock's
notices is, I" Don't sell stocks when the
sap Is creeping up in trees and the grass
Is growing green"
The Boston Beacon says: "B. Q. is
Offering to give Iowa division As in ex-
change for per cent. bonds coming due
next June. The latter issue is small, only
1880 900 bonds now outstanding.
"Most investors assumed that the Iowa
as were all issued years ago. The limit to
the issue is that they shall not exceed
sl6, 900 per mile of single track and Sl4, 900
additional for double track. They obvi-
ously have not been issued up to their full
limit"
The fact that the Sugar Company has
demonstrated its ability TO control the
home market in spite of German competi-
tion is proving an additional ground for
confidence in the stock. The company
has been getting profit OF at least z cent
per pound on refining now for over a month
and on that basis money is made pretty
rapidly.
The earnings of ST. Paul for the fourth
week of March will come out after the
close tomorrow. They are expected to
make relatively as good showing as
was recorded for the corresponding
period last year. The business of
st. Paul it Is understood, Is
equal to $50, 900 per day, so that the figures
should, IL they come up TO expectations,
have tendency to further advance the
prices of the stock, in which there is still
outstanding a short interest estimated at
from 1900 to 1000 shares.
General Financial Notes.
Pawtucket has borrowed of II. L. Day
& Company of Boston 5000 for 1-2
months at about lis per cent. discount
and 500, 600 for months at about 4 is per
cent. discount.
The Massachusetts railroad commission
ers have authorized the Old Colony rail-
road company to issue 1000 shares OF
stock.
The important news this morning was
Of rains in Kansas and the winter wheat
belt.
London is strong with Reading up *,
l.. & N, II and st. Paul, *.
Application has been made at Will
mington to show cause on April 25 why
n receiver should not be appointed for
Bay State Gas.
Pending a settlement of the differences
between the presidents OF the coal com
panies, 1t was given out officially in
Pottsville, Pa, that the mines OF the
Reading company would work all OF the
first week in April. Lehigh Valley will
do the same.
The board Of director OF Jersey Central
will consider the next quarterly divi-
dend at the meeting on April s. Some
traders expect the regular dividend will
be declared, but ii will depend IL the
Coal combination is formed.
The Gas dividend will be acted upon
this week.
Bar Silver is up y pence today.
Providence Clearing House.
The clearings OF the Providence banks
today amounted TO ss0s, 100.