The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-15
FINANCIAL NE VS..
London Sold st. Paul For
Several Days Past.
The Stock Has Not Yielded Much At
That.
Special to The News.

NEW YORK, Aug. 15 5-London has been
disposed Tor several days to sell st. Paul
| in small lots whenever IL showed special
strength, but the stock does not yield
much, owing TO the large buying OF Rock
Island by representative traders. These
traders are especially bullish on Rock
Island, and in bulling that stock q de-
cline in st. Paul would be much against
their interests, hence they rather refrain
from selling St Paul for the present.
Commission people, as general thing,
are hopeful and they are looking forward
to period of increased activity. Already
mum Der of prominent capitalists, who
have been "doing Europe" for the past
few months, are making preparations TO
return to their homes and on their ar
rival they will unquestionably take a
more active interest in the general specu-
the high prices at which most bonds are
selling, will undoubtedly give their at
tention to those dividend-paying shares
that maintained their record during the
years OF depression, and which. with the
superior outlook for the next few months,
are certain to render still better account
of themselves
The short interest in Manhattan has
been largely reduced, but the transfer
books show that there has likewise been q
considerable increase among small inves-
tors. Some stock that was carried in
brokers' names, and has been floating
around Wall street for months, mas
within the past week or two been alb
sorbed by the right kind OF people Con-
sequently, the supply OF speculative
shares has been reuuced accordingly.
There Is no doubt but that the earnings
OF Manhattan will improve very consld-
eraDly during the next few months. The
great point in favor of this stock is the
extraordinary reduction that has taken
place in operating expenses. These re-
duced charges have, TO a considerable
extent, Offset the loss in traffic for which
the summer months are always respons-
ible.
Outside buying orders in ID. c. f. came
in freely before the opening, but insiders
supplied all demands and in very few
moments II was seen that the supply OF
stock exceeded the demand and decline !
came rapidly. The only explanation
given for the sudden realizing, in face of |
the judicial sale, was that some trouble |
might be made by Attorney General Mo- |
loney. The new distillers' company is |
very likely TO be Incorporated in the |
State OF New York, but the principal dis |
tilleries are in Mr.. Moloney's bailiwick, |
and he has developed an extraordinary |
capacity for mischief wherever corpora |
tions are concerned. There is no longer |
any fear OF legal proceedings on the part |
of the old trust.
GENERAL FINANCIAL NOTES.
The gossip Is that developments in the |
exchange market are likely within the |
next 10 days or two weeks and it is re-
ported that the gold movement may
culminate then, after, say, ten million
gold has been exported.
Cold weather is reported In the North
west but there is no confirmation yet of |
rumored damage by frost.
There are conflicting stories as to coal
and electric matters.
London shows small fractional de-
clines, except for Reading, which is
up 3-S.
Atchison proper earnings for the first
week Of August increased s25, 307; whole
system, increase, $4633.
The total gold exports since the move
ment began aggregate $40, 467, 900.
Sterling exchange was a trifie softer
yesterday afternoon; still gold is likely
to be shipped by Saturdays steamer.
Joseph says: "It is estimated that the
bond syndicate has close upon so, 0O0, 600
gold in reserve, with which TO replete the
drain on the United States treasury. BY
the time this is exhausted gold shipments
will probably cease.
Tobacco will work lower; the manipu-
lation is In this direction. Buy Sugar
on every dip. Under the lead OF Tele-
graph, st. Paul and Whiskey the market
will recover it's reactionary tendency"
The earnings of the Union Pacific for
the month Of June increased s34S, ,02S.
roDAY's STOCK BOARD.
WALL STREET, Aug. Is. The stock mar
ket opened dull and irregular. Tobacco
appeared to be the main point of attack
changes among the rest OF the shares were
very slight.
NEW YORK STOCK QUOTATIONS.