The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-16
FINANCIAL NEWS

weather has stimulated the sale OF season.
able merchandise throughout the coun-
try with the exception OF Nebraska, Kan
sas and Minnesots, where 1t has Doen
somewat retarded by the mild weather.
This applies particularly to the retail
trade and Is greatly caused by the holl-
day specialties. But among the whole
salers the tendency is toward dullness as
most firms prefer to reduce their stock as
much as possible toward The end OF the
year 10 make ready for the annual lnven-
tory.
In the Industrial lines the majority OF
manufacturers, though running on tull
time in order to complete orders Tor I'M
mediate delivery, regard the SITUATION
conservatively.
Among the staple articles prices contln-
| ue downward. Leather and hides are still
weak after their recent drop, in spite OF
Saturdays activity, and the same condl-
tIon may be applied TO iron and steel
with the outlook of no material improve
ment for the next 80 days. Of lumber,
sugar, rice, wheat-four, oats ana print
cloths 1t can be said that they remain
steady with no particular activity. But
for petroleum, cotton and coffee the quo
tations record an advance.
Relative TO cotton II may be said that
at the southern points, except New Or
leans, the receipts have been unusually
small.
speaking OF new pfleaus tntTS IL HOl
another city in the South where business
men are looking forward with as much
confidence and satisfaction 10 the proba-
bilties OF agriculture and commerce as
there. This outlook Is encouraged by
the annual report OF the New Orleans
Cotton Exchange. which shows that de-
spite the labor trouble on the levees tho
amount of cotton handled in the presses
is fully 100, 600 bales more than last year.
The Christmas trade, outside OF the
Christmas goods, is satisfactory and
far below expectations. Reports from
Galveston, Seattle, Kansas City, Omaha,
Minneapolis, San Francisco ana Portland
corroborate this statement
The export of wheat and flour from
both coasts during the past week aggre-
gate 2, ,45S, 00O bushels 68S, 600 bushels
less than the week before. 6i Indian corn
the foreign sh ipment OF 2,39l, 600 bushels
compares favorably with 1857, coo bushels
of the preceding week.
The gross earnings OF 121 railroads, con-
sisting of 9S, 5S7 miles OF main line, for
November amount TO S47, 237, 1859. The
Granger roads coa!ers, trunk lines, and
Pacific roads di1 relatively more than in
October, while in the southern and CEN
tral western the gain was sligh smaller.
The only actual loss occurred in the
southwest, and was caused by the decrese
In cotton tonnage.
After great irregularity the prices in
the New York Stock Exchange shows a
tendency 10 harden bur at inactivity.
There are TO be heavy assessments OF
stocks and juniors and it is thought that
this will lead 10 a lasting agreement in
the coal trade.
for demand sterling. hut $1,000, 600 OF
gold was shipped to Germany last We'd
nesday and more Is expected TO go this
week which may be partially due to the
rumor that Russia is paying a premium
for gold.
Tue bank clesrings throughout the
United States for the past week aggregate
81, 129, 000, 900 showing increase OF 10 per
cent. over the corresponding week OF last
year and 23 per cent. for '93. But though
this indicates on Increase of business over
the two preceding years. yet the business
failures Tor the past week, amounting to
313, DO not compare as favorahly.
NEW YORK, Dec. 16.-- is estimated
that over 20 per cent. of the northwestern
wheat crop has been marketed, including
the seed requirements and with eight
months 10 pass before the next crop.
Millers there cannot allow many more
large shipments to the Chicago market.
TIE local bear sentiment il abating as
the leading bears are willing to cover and
wait.
million and a half OF gold will be ex-
ported tomorrow by Hiedebech, Ickel-
heimer q Co. 500, 900 by Muller, Schall
Co., $3.50, 900 by Ladenberg, Holmann *
CO., making total shipment OF 81
$50. 900.
Rurnors ore rife that Congress will
authorize a hundred million 3 per cent.
gold bonds issue. OF these would be
placed on the London market at par and
interest at n moments notice.
There is no danger OF silver nor is there
a likelihood of the gold reserve falling TO
the danger point and il is in recognition
of these facts that he bulls will probably
rally their forces at any moment.
all conditions being equal 1t is proba bic
that the United States Leather preferred
will experience another substantial gain
this week. The buying is confident and
the January dividends OF per cent.
should place the st )ck at So
Rumors are being circulated affecting
the Baltimore & Ohio stocks, one OF
which is to the effect that tho company
has money enough TO meet its January
interest, which amounts TO 1886, 900.
The Liverpool Cotton market is steady
with a slight adavnce Of 1-32.
Trade returns show decrease because
OF the end of the year. Money IS trifie
steadier.
Railroad esrning continue favorable
and the best judges expect the best re-
turns for some time.
hENlfN OF EAlAhbAA ~ oAiA+ts
London prices came in rather irregular
on Saturday and the market opened
strong with the interest OF the specula-
tion centering almost wholly in the In
dustriaI shares. The movement started
in Leather preferred ON Friday was con
tinued this morning. although not on so
large n scale, the buying ha wing been at
triUuted TO Mr. Keene aud his following,
and IL was again said that the advance
was due to an Investigation OF the prop
erty which revealed n much better con-
dition OF affairs than had been generally
Supposed In tho street. The movement IN
the Leather stocks spread TO the other
lndustrisls and although there was some
realizing In the first named groups the
demand for tobacco, Sugar and Chicsgo
Gas carried all these stocks to n much
higher level. which was well maintained
until the close Tho hank statement
showed that the banks have lost about
two miTIiOns III UUFpTus reserve and now
hold about siG. 100. 900 in excess of legal
requirements.
Final prices showed material advances
for the Industrial shares aud was gener