The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-03
FINANCIAL NEWS.
Do Not Take Lugubrious View Of
Coal Trade.
Trouble i'm Chicago-Sugar Stocks
Again-General Notes.
Special 20 u. Selos.

SptCiut !" Iif actDs
NEW YORK, Jan. 3-Whlle the feeling
in the most prominent bearish quarters
continues quite pronounced against the
coal stocks and all the old-time,
II not honored, arguments arc ad-
vanced to show why Lackawanna
should have q decided break, that Jersey
Central should sSll in the neigh hborhood
of 60, that ID. & II. is not worth
more than par and that Read
ing Is hopelessly bankrupt and
will be wiped, under foreclosure pro-
cecdings, from the face OF the earth,
those that know most about the anthracite
trade do not take the lugubrious view
that others do who are said to be high in
authority. ~
There were indications in Sugar yester-
day that an interest which bullied the
stock about the middle of December de-
cided to throw over its holdings.
This selling was helped by
traders and there appeared to
be some short stock sold. Brokers in
the crowd said that below IS the
buying was fully as good as
the selling. Sugar will probably work
somewhat lower, but the Havemeyers
intend, it is said, to issue supporting or
ders on a scale of z per cent. and II the
stock should recede TO the neigh borhood
OF s5 it will be taken in liberal amounts.
The average price of 2l active stocks
closed last night II below the lowest last
year.
The figures for the long week were
$4,000, about the very worst the st.
Paul Company has ever reported.
The estimate made in London, which
was considered beyond the pale of possi-
bility, that there would be loss OF $780,
600, fell 5000 short of the actual mark.
General Financial Notes.
st. Paul earnings for the fourth week Of
December deceased s1s2 ,625; for the month,
s33O, $3.50.
Wheeling & Lake Erie, for the fourth
week of December, decreased 1901.
Rock Island for the month of December
decreased $4,000.
Tho Cincinnati Price Current says: "a
large portion of the winter wheat area has
been favored with snow, giving protec-
tion and beneficial moisture. The general
outlook is assuring; offerings of wheat
generally light
Owing to the treasury situation and the
doubt about the Pooling bill the septi.
ment is bearish. But unless moro liquida-
ticn is forced the market will soon be
oversold.
London il X lower for the general list,
but beginning to buy bonds.
l.. & M. is * lower. The stock has been
inactive and the short interest in it Is
small. IL attacked today il ought to yield
easily.
Sterling sold Jersey Central down.
Adyfcaa from, Cbioooo gov xpb boot ,,,no.d
dull, but steady.
Cotton futures opened steady; sales
5000 bales. jan, $40; Feb, 5.4S; March.
5.5O; April, 5.55; May, 5.6l; June, 565;
July. 500; Aug, 5.75; Sept, 5.77 bid; Oct,
20 bid.
The New York stock market opened
weak this morning.
Chicago Elevated Troubles.
CHICAGO, Jan. 3. The Lake Street al"
Company hns announced sn additional is-
sue of s202,00 OF first mortgage bonds
bringing tho total issue TO 1921 600. The
company also defaultod on tho
interest due January 1 on It's issue
of first mortgage bonds, in
spite OF the public announcement made
last week from the rostrum OF tho exchange
that tho interest would be paid by the
company Notwithstanding the statement
made by the trustees OF the American
Trust & Savings Bank that he
money had been deposited by the
railroad company TO pay the cou-
pons. The issue OF the new bonds
Is said to be made on account OF the
Wabash avenue terminal OF the elevated
road. The default is qualified one, in a
measure, beeaess HE f4feHes' -i--reaap- fer
the coupon holders providing they are
willing to sign an agreement which per-
rnits the coupons 20 be received by a third
party and held without being Cancelled.
. The Wool Market.
The market for fine domestic fleeces.
which are la light sale, IL very quiet;