The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-19
FINANCIAL NEWS.
Great Hope Expressed That Better
Times Are on the Way.
The London Market-Thc Currency
Question Readable Gossip.
Special to The News.


NEW YORK, Jan. 19.-whie the public
cables from London indicate that there
has been no material change
abroad, particularly in the de-
partment for American securities, pri-
vate advices from responsible bankers
say that there is little or no doubt that IL
England in particular and Europe in
general were given any encourage
ment, there would opeedily be a re-
vived speculation IN all classes
OF our securities. There is more than
passing evidence that the wild hurrah
that has recently been the characteristic
OF the English market for South African
properties is rapidly drawing to close.
1t is conceded that the currency ques-
tion will be settled sooner or later and
that, as usual, the markets will start
ia due course TO discount. The
results of such favorable legisla-
tion. That the FifSy-third Congress will
die natural death without leaving a
record for anything but dilatoriness and
uncertainty is recognized by all who
watch the political horizon.
There is positively no doubt but that
the Standard Oil interests directly, and
G. M. Pullman and T.. ID. Armour in
directly, with Secretary X. Il. Lincoln,
who will hold an important executive
position, will soon be found in con-
troll of Chicago Gas affairs. The biggest
money will be lost in endeavoring TO
catch those turns OF or 2 per cent, that
invariably accompany a movement of
such magnitude as the one promised in
the almost immediate dealings in Chicago
Gas.
Sugar is likely to loom into considerable
activity, especially as the Supreme Court
is expected on Monday TO hand down a
decision that will be eminently favorable
TO the sugar con- gany.
The coalers continue to moLopolize
great deal OF attention and their persis :
ent strength is regarded as fores hadowiDg
much hig her prices.
In London, Americans closed fiat at
fractional declines. The deplorable con-
dition OF the United States Treasury and
the fast dwindiing OF its gold was used as
an argument to dcpress Americans.
General Financial Notes.
Liverpool u down; sales, 10000; futures
steady.
The New York stock market opened at
general concessions due to the
usual closing up of contracts
over Sunday. AS the trading element has
been operating OF late on the long side,
the sales are to take profits and prices b
TO q under yesterdays close. Chicago
Gas reacted over per cent. alter hrmer
opening. Sugar developed weakness after
the first dealings.
In Chicago, wheat opened steady and
unchanged. There was little more dis
position by local shorts to buy on the
large weeks exports, but no increase in
outside orders. Northwest receipts, 1876
cars, against $50 year ago.
Corn Looked Weak.
The earnings ofthe Southern railway for
the second week OF January decreased
$500.
Bradstreet's shipments from Chicago,
$685., 200 wheat, 66l coo corn, against 81
5S7, 900 wheat and 1,067 900 corn the pre-
vious week.
The Boston News Bureau says: "a
director of the West End Railway Com
pany says, Il am fairy well satisfied that
there was pool formed in West End, al
though some of my friends declined 10
join, and that the price is now sufficiently
high.'"
the Atchison general reorganization
committee held meeting in New York
yesterday, but adjourned as the London
and Amsterdam committees have not yet
commu Dicated their views TO the joint
executive committee.
Although gold shipments at s4,400, 900
were very large, with the certainty OF
their continuance the coming week,
traders ignore them entirely. The fountain
OF hope is Washington. All count Oh the
passage Of the pooling bill and many on
success of the sherman measure To evolve
boom.
The following encouraging abstract
from the weekly market lctter of q.
franklin Nugent x Co., has the right
ring in 1t, SO the "street" says:
Our country Is marvellous IN the powers
of it's achievement. In our South we can
raise cotton enough tosuppiy the spindles
Of the world. In single state we can raise
grain sufficient to keep the entire hu-
man race from starvation. Our noun
ts!ns are fills d with mineral wealth await
ing only the drill aad the hammer 10
render tnem instruments for our advance
ment. Do you suppose for an instant that
the present ADVERSE conditions will
siwsy. prevsilg VIII gold shipments
continue until the yellow stream shall
have faded 10 white and silver alone hc
let US? certainly not. The ancient time
piece that shall tell the downiail OF de-
preston has alreaoy struck cone"
AS regards he stock market we believe
tho breaks from now ON will not cut deep,
aud should strongly suggest buying the
better class OF stocks on every little ie-
cession, for the day is not far distant when
the present quotations will look low in
deed.
Providence Clearing House.
The clearings Of the frovidence banks
to-day amounted to sSi350 Tor the week,
u, III r2no--
New York Stock Quotations