The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-15
Special 10 The News.

Special TO The News.
NEW YORK, May 15.-The market was
described as a soda water bottle with the
cork out. London was credited during
the forenoon with sales on balance, but
before the day was over 1t became evident
that London had bought more than 1t
sold.
The selling came largely from the room,
and Moore & Schley were credited with
having sold q big line. The bears ap-
peared in the market for the nrst |
time OF late. Mr.. Wheeler and Cammack
were supposed to have sold some short |
stock for turn. Other selling was cred
tied to Mr.. Connor aud Mr.. Sage. Opin-
ion last night was that il London contin-
ued q buyer the market would improve,
but without London buying further de-
cline was TO be expected.
The idea that the market had reached
point where il had two sides
commended itself TO most operators
and there was feeling that the market
would probably be a sale on bulges ana
buy on slumps for short turns during the
next few weeks. On demonstration that
9S stocks had risen on an average OF 300
| in a little over two months attracted at-
| teption and comment.
The bond market decreased the volume
| of business, but prices were In the main
| firm.
The comparative strength OF Northwest
in q weak mNfket, as compared with It's
recent weakness in strong market, led
| TO belief that the company might have
| seen its way to the payment ofthe regular
| dividend next month. The rumor OF
bond issue helped this idea, notwith-
standing the latest report that the bonds
issued were to be used for track raising.
| Today's Stock Board.
WALL STREET, May 15.-The stock
market opened active and weak. Della
ware q Hudson declined Ia per cent;
Burlington Il Northern Pacific preferred,
z: Sugar, Cordage, Cordsge preferred,
81. Paul, Louisville g. Nashville and llli-
nois Central, q per cent.
Stocks continued TO recede for brief
time after 10:l5, and the more important
losses were New England IA, South
ern preferred, &. c. c. & St.
Louis ana Louisville, New Albany pre-
ferred, l.; Union Pacific, e, and
Erie and Wheeling Lake Erie
81 PER cent. Good buying then set
in, and Cordage guaranteed ad-
vsnces per cent, Sugar Is, Chicago Gas
ks
ern preferred "a, and the other shares
dealt in u *; $4,000 silver certificates
were traded in at 67h.
General Financial Notes.
London is somewhat lower today.
&C. G. & ST. l.. earnings for the week
increased s26,S9
The vote OF the frontage bill came M
today. Crawford of Chicago says the
necessary two-thirds will be secured 10
pass it over the. veto.
The New York Herald says the income
tax will be declared unconstitutional.
The Manhattan statement for the
, March quarter is expected to be unfavor-
, able.
} Joseph says: "This is q market Of
I specialties. The regular list Is likely tc
be reactionary, but there will b'
| lots of chances and money II
other directions. Erie Telephone II
now SO and is going higher, to 65 at least
Sugar is buy on a scale of II point, anC
lust as soon as General Electric gets
move on, it will do to buy for sO."
Cotton.
IS Liverpool Cotton futures IL points ad
vance; spot sales, 5000 bales.
New York Cotton futures opened firm
Sales $500 bales; JAM, $50; Feb, 500
May, 662; June, $50; July, 6.64; Aug.
s 6.6S; Sept, GIL; Oct, 6.77; Nov, 6S2
= Dec, $50.
NEW YORK, May 15.-Cottoh 500
! closed dull; middling upland, 1916
middling gulf lie; sales, 1853 bales.
Wheat.
~ NEW YORK, May 15.-W heat receipt
# 172, 400; sales 1,9l60O0; options, no 2 re
{. opened weaker under lower cables an
a rains West, but advanced sharply on fros
r. talk, tirmer late cables, and prospects {
be lighter Russian and Argentine shipment
;, May 6sA, q; July 653s, 69h; Sep
ID 69A, e; Dec. 7lh, Hs.
To- Local Stock Market.
~ The greatest surprise in the local maj
y ket il the unusual demand for ProvidenC
iS Telephone stock. IL is bid freely at q
=, and within q few days there have bee
~ many private sales reported at consider
" ably above that figure. There would ma
= urslly be no surprise at this, but for ii
many rumors sGoat concerning the con
pany and just how to accoui
- for the activity the brokers {
90 not know. It was stated recent
- ~ that the Providence Telephone Compar
4, was resting on it's oars, partly because
y" s.of now compeny coming in
rent telephones much cheaper. That r
II port, however, was fsllncious. as the loo
40 company controls the franchise, and
n will be long time before any oompetit
- can got in. Again, the fact that some
the proposed underground constructi'
work had not materialized was absurd
attributed TO lack OF funC
a. The NEWS explained the 9th
N day why these works have not be
Nv begun. II Is simply because the reno,
II. from Buffers Exchange to the now bull