The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-21
FINANCIAL NEWS.
Big Suit to Be Brought Against the
C. 3. & Q. Railroad.
Important Developments Expected.
Talk About Bonds-E inancial Gossip.
Special to The News.

question of paramount Importance, OF
course, is the taking up OF the Patterson
pooling bill.
Sugar was sold ostensiby on the report
of q new refinery TO be started at Camden.
Sugar people said the decline was due TO q
much more important cause, namely, that
there was no profit in the business for
either new refinery or those in opera
tion. Until profits were greater it was
safe to say that nobody able to carry on
refinery would engage in she refining bu-
siness.
The decline Saturday was regarded by
some as a reaction and by others as the
yielding of prices to unfavorable con-
ditions.
Stop orders were supposed to have
caused the bulk of the declins in Gas.
For the coming week there bids fair to
be continued large shipments OF gold, but
there Is a possibility of a report on the
pooling bill which will help the railroad
shares. 1t is possible that some prelimi-
nary steps with reference to new bond
issue may come this week. This matter
attracts a good deal of attention
because l. is held that the syn lcate which
took bonds before has not been sufficient
ly successful in disposing of them at a
profit to tempt the formation of another
syndicate which in turn might have to be
followed by q third at very short inter-
val.
The price at which British Consols are
now selling should be evidence sufficient
that Europe would buy a round amount
Of United States governments. The talk
about the inability on the part OF Wash
ington officials to place bonds again in
this city, because OF the bad faith of Sec
retary Carlisle with tho combine that
took the last emmisson of $50, 900, 900, is all
moonshine.
Concerning the report that the Lake
Shore officials are seriously considering
the advisability of using stock in order To
take up the maturing bonos, all that can
be said is, to quote the officials OF the Lake
Shore q MICHIGAN Southern Midway Conn.,
pany: This is nothing more nor less than
Wall street talk that must be regarded as
idle. In the first place the suggestion to
refund maturing obligations has not been
formally considered. 1t can be stated,
however, that tho company will not re-
tire its bonds by issuing stocks"
General Financial Notes.
LIVERPOOL Cotton demand fair; declined
one per cent; sales, 1900.
Those who are Professionally bearish
attach considerable importance TO the
strikes in Brooklyn and the calling out
OF The National Guards, and insist that
the result must have sympathetic influ-
ence on the general iist.
Among the current reports in circles
that claim TO have excellent Washington
information is one TO The effect that the
Patterson pooling bill will DO delayed
and not leave the committee tomorrow
to go to the Senate, as generally pre-
dicted.
Cotton receipts are very heavy today
and there seems to be heavy feeling In
the market. A little drop of. from TO
per cent. would not be considered sur
prisipg.
In event of a decision against the Gen.
eral Electric Company, a formidable drive
against that stock NAV be looked for.
The action of tho express companies in
advancing the rate Tor transportation OF
currency between Boston and New York
to 10 cents per $1,000, has resulted in the
banks forwarding currency and coupons
by registered mail, insuripg through Lon
don companies ut a rate of only 20 cents
per 5000.
A syndicate OF capitalists has been
formed in Western Massachusetts to build
an s100, ,000 electric road at Greenfield, the
capital TO be equally divided between
stocks and bonds.
Advices from Chicago state that tho
Chicago Gas meeting at IL a. m. could
hardly do more than adjourn as no steps
had been taken 20 dissolve the attorney
generals injunction.
Chicago Wheat opened weak. May 57i%,
sellers and sold TO q on selling by scalpers,
who seemed TO have been long over Sun
day over a prospect of liberal visible
decrease.
Louisville & Nashville for the second
week OF January decreased SzS.5I5.
j. Arthur Joseph says OF Chicago Gas:
"lho property is all right and Benedict as
a trustee has infinite good qualities, but as
Wall street gambler, well, his word is
no better than the average copper. When
Sleek and Paunchy Benedict Is relcgated
10 those anks TO which no rightfuly be-
longs, Gas Will stand out moro conspicu-
ously In prominence and become a more
desirable investment"
The opening OF the New York stock
market was fairly animated today at
generally lower prices. l.. q ~. was
weaaer on the influence OF its unfavorable
report. u. p. decliued y tnder renewed
pressure, but then became dull. Sugar
opened rtecdy, but soon became easier.
Gas sold at 72E, but recovered a little.
jersey Cen raj vas weak feature on
moderate trading.
London prices are fract!onally lower;
ST. Paul y, and T.. & ~, g.
Todny's Liverpool Cotton sales, 1900
bales; futures quiet, but steady at i-Gi
advance.
Earnings Of Z. G. G. 4 ST. Louis, for the
second week of January, increased s6s3S.
A suit IA likely 10 be broug ht against he
C., ID. a. q. road Tor over sl,000,0)0 by i'm
surance companies, they claiming that
the great fires OF Aueust last we're caused
by sparks from G., =. . .. engines.
A fall In temperature OF 40 degrees IL
indicated for Chicago during the next -