The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-11
FINANCIAL Ne WIS.
Something About Sudden 'm-
pr0vements in St. Paul.
Speculation in Sugar VIII Depend
on Trade Conditions.
Special 70 The Nows.

SptNAai W Inv ANSNr.
NEW YORK, Sept 1.-The sudden inn
proyement in st. pauls earnings, which
began to show itself first a month ago. is
undoubtedly due 10 the fact that the
company is getting n long haul business
this year, which il did not get at all last
year. The South Dakota end of St. Paul
last year did very badly. There was a
comparatively small movement OF grain
East, and practically no westbound move
nent to speak OF. This year the farmers
IN that section have good crop assured
them, and are buying merchandise,
which retailers are very glad TO supply
on credit, because everybody knows that
when the cropis marketed the farmers
viii have money. There - likely To be
this year good westbound tonnage into
Iowa and South Dakota, where there
were very little last year. This kind of
tonnage Is very profitable TO the roads.
There was an attack on st. Paul yester-
day 10 test the strength of the bull inter
est, but there was support beyond the
expectations of the sellers and The stock
s)ld was recovered as soon as the resist
aace became pronounced Somebody Is
willing TO boy ST. Paul at these figures,
and the stock seems to be taken UP.
Some operators in sugar say that the
stock will sci, EX. A 3 per cent. dividend
ON Friday at about present prices, II pres
ent calculations go through. good
deal will depend on the conditione OF the
sugar trade, which changed rs character
last week. The buying IN the stock ex-
change, il is said, gives M clew Gs TO any
important movement either way. The
selling which was SO pronounced few
weeks ago cuts no fgGrc now, although
the sellers at that time continue beGrlSb.
It IL believed that there Is stlll Il large
outstanding short interest, aud that the
predictions Of the movement between this
and Friday are based Oh an idea that this
short interest Will cover.
The number of believers that the big
reaction Ia the market had begun was IN
creased by yesterdays Developments, and
naturally There was more short selling
tnan on Monday, and apparently less
realizing. Mr.. CammRck was credited
with considerable sales for short eccouEt,
and q number Of large operators who sold
their long stocks week oF two AGO, also
nut out snort lines. In every case the
treasury position was put forward IS the
principal bear Argument. The fact that
the syndicate did nothing during the day
added TO the rcrynua feeling. and -con-
.irmed he bears in their ideas. There
certainly has been big advance, and re-
action wOuld be the most natural thing
in the world. On the bull side was he
big corn crop, which Will make tounage
for all the roads. and il is safely secured.
ToDAY's STOCK BOARD.
WALL STREET, Sept. Il r. The initial sales
the final prices Of yesterday with the NEST
important recessions IN the Granger group.
Before noon continued strength was eN-
hibued i'm Sugar, which sympalhetically
affected the General list, and a rally on
sued which carried prices up from is to
| Is per cent The Changers, Chicago
Gas ana Missouri Pacific were conspicu-
Gus in the advance. Sales TO noon 1884,
700 shares, of which ia, 600 Were listed
tAld 20, 9JJ shares were unlisted.
Speculation continued weak in tone
after 1915. The Changers were the main
point of attack and current quotations
record the declines of 7-S 70 il per cent,
the latter in ST. Paul Sugar was accord
ed excellent support and rallied 7-o per
cent.
NEW YORK CLEARINcs.
NEW YORK, Sept. 1l.--Clearings S99
166 21l; balances S6, 365, 6l9.
GENERAL FINANCIAL NOTES.
The Panama Railroad interests are said
10 be bulling Pacific Mall. There IS said
to be more money bulling the stock than
continuing the rate war.
Texas Pacific earnings for the first week
of September decreased -2i, l76; January
10 September Z. increase. 1890.
ST. Paul earnings for the first week OF
Septem Der, S13, $40; July to September
z, increase, S6S3 $40.
London opened weak, about 1-s TO 3-S
lower than our parity.
Higher money rates Will help the de-
cline in Exchange.
a Syracuse special says that Attorney
General Hancock, at tho request Of the
American Tobacco Company, adjourned
the hearing OF the Whelan suit 10 prevent
the company doing business in this State
until September %. The company's at
torncy wanted more time 10 prepare an
answer.
Joseph says: "A drive is 90 be made
at G. b. & q. The ostensible reason for
the attack is the poor showing made by
the corn report.
Nesslage q Fuller will ship sl00, 0O0 gold
by tomorrow's steamer.
Crossman & Brother have engaged
n, 900, 5000 at the sub-treasury for ship
ment tomorrow.
-, yopv srocv avov.r,o~s