The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-30
FINANCIAL NEWS.
Feeling Upon General Mar
ket Continues Hopeful.
Lake Shore and Tobacco Come in for
Attention.
Special to The News.

NEW YORK, Aug. 80 The feeling up
on the general market continues to be
quite hopeful. The reactionists admit
that while II 10 comparatively easy TO
knock of point or 80 in special direc-
tions, no stocks of moment are coming
out and II is many long day since
Wall Street has seen certificates delivered
without pinhole in them" The aver
age commission broker is confident that
not for months will investors show any
disposition to part with their securities.
The Vanderbilt shares that have not
participated to any considerable extent
in the recent advances will come well
to the front again and will render an
excellent account of themselves.
Lake Shore is gradually getting on TO a
prohibitive basis, but when one considers
that the future holds an infinite amount
of good for the stockholders OF the Lake
Shore Company, there is every plausible
argument against people who hold the
stock selling IL.
ty will belong to the stockholders almost
exclusively, the reduction in fixed charges
will pave the way for dividends on a ten
per cent. basis and the stock will then
be quoted above 20.
There is wide margin of profit still to
be found in Michigan Central and Cana
da Southern. The latter is cheap and
stock on the list. 1t will find a resting
place around 65, while New York Central
will probably reach lis and will become
established permanently on the higher
basis.
Some of the papers are going for the
American Tobacco Company today. The
New York Times is particularly vigorous
and denunciatory in its financial columns
claiming that "the tobacco company has
refused TO sell its goods to wholesale
grocers because the latter decline TO agree
not to make purchases OF cigarettes from
other manufacturers. The company is
the most complete combination OF its
kin 1 In the country, controlling about
80 per cent. OF the output of the manu-
factured article and it is, therefore, vul-
nerable TO legal attack. Furthermore, on
Wednesday next, the principal manufac-
turers OF plug tobacco are 10 meet in this
city to plan opposition TO the trust in the
cigarette field in retaliation for the inva-
sion of the plug tobacco field by the
trust. There has been some talk of a
compromise in the latter, but the plug
tobacco men say such thing has be-
come impossible. -
The fact must not be overlooked, how
ever, that the American Tobacco Com
pany is. according TO the insiders, max
ng n1ss money o ts tressrS ana has quite sur
Next Monday, Labor Day. will be
holiday and there will be no stock market.
Joseph says: IAN effort will be made
to depress the general market under fur
ther concerted attacks on Tobacco, Sugar
and the Changers Don't be afraid to buy
a little Atchsion on any other moderate
set back. Hold on to Western Union;
this stock will sell around par presently.
Watch Baltimore & Ohio and on any ac-
tivity buy little.
ToDAY's STOCK BOARD.
WALL STREET Aug. 80 The initial
prices We're generally at slight conces-
sions from last nights final sales To-
bacco made an exceptional decline of
3-S per cent, TO 92. Later Tobacco rail-
lied 1l2 per cent. and all inquiry for Ten
nessee Coal improved the price III per
cent. Chicago Gas sold up 1 SIS; Sugar
paid, l is per cent Tobacco jumped 2li
per cent. to 95si and reacted TO VA Is.
The railway list was steady.
The coal shares came into better demand
after II o'clock, New Jersey Central sell
ling up / Is and Reading 5-S per cent.
The Changers, and in fact the list gem
orally made fractional gains, while Con
Gas and Laclede Gas rose per
cent. each. AT noon New Jersey Central
reacted 7-S per cent. and Sugar lo, but
he market was in the main firm and dull
Sales to midday, 1876, 800, including
lib, 500 listed and p, ,515 unlisted.
MONEY
WALL STREET. Aug 30-Money on cal
easy at / per cent prime mercantile paper
81, G1i3, per cent; sterling exchange firm,
with actual business in bankers bills at
1898, (d490 for demand, and at 4Ss3l (d4s9 |
for sixty days, posted rates, .4S9(di90 and |
1870 (1491; commercial bills 4Sslt; Silver |
cert ficates 67 1-Sa67 3-S no sales Bar sill |
YER SO 7-S; Mexican dollars 53l4 govern |
ment bonds strong
NEW YORK BANK cEARINGs.
NEW YORK, Aug 30-Bank clearings |
1913, 10, 6244 Balances 60,077, 29O
GOLD SHIPMENTS.
New YORK, Aug. 80. Hand and Har-
nan will ship S100, 900, and Steinender & |
5toffregren, sl500O0 gold tomorrow.
Nesslage * Fuller have increased ESQ, 900 |
heir gold engagements made earlier i'm 1