The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-14
Heavy Gold Shipments Are
Anticipated.
Unusual Activity in Leather
Market.
Coal Men Agree That There Should
Be Restrictions.

NEW YORK, Dec. 1.-The probsbili-
ties are that gold shipments next week
will be heavy. Four millions are To go
out Tuesday. 1he traders are likely 20
sell the market on announcement OF the
withdrawal of gold especially as the re-
serve is down TO 20 millions and there is
nothing on which to base the hope that
Congress VIII take action to solve the cur
rency problem.
The speculation pool that was formed a
month ago IN &. Is. q Q. has gone out OF
existence, the last of the stock being sold
yesterday and the strength OF It's stock,
under these circumstances, Is suggestive
OF better buying than has generally been
suspected.
Leather preferred Is apt TO sell above so,
IL the January dividend 10 declared.
Traders have been helping the movement
in Leath her and are likely 10 sell out to-
day. The Stockholder prints a two-column
bear article on Baltimore * Ohio and
claims that tor two years the COM
pany has made heavy reduction in money
spent upon maintenance and the capital
has increased from Sl9, 792, 500 III 1889 to
$50 600. 600 at the present time.
The Consols are up again, and no trouble
is reported from the continent, but Amer
leans are fat NTH ho business.
London Consols are up 1-16; the Ameri--
cans a trifie lower, but there is no business
abroad.
The general belief on Wall street is that
the Republicans proposed revenue legis-
lation before financial, and that they
will await the political effect OF another
issue of bonds.
The actual market conditions in the
coal trade have not changed and the
market is dull and prices still continue
weak. The most encouraging feature is
the admission on all sides that some
sort nf rest ipt ION is
A call for an assessment of 10 per cent.
on the ~, 800, 900 capital stock OF the Uni
veral Gas was made today.
Refined sugars are unchanged, but all
standard grades are oversold; raws are
quiet without feature, the campaign
against the Industrisls having ceased and
the shorts in them having decided to
cover the market has n better tone. This
feeling should run until next weeks de-
velopments, as 20 gold, are clear.
London sales have stopped and the prices
there are firm, although the market is
dull.
Cotton fuutres op.ucd steady at the
Feb. S.34 bid, March S41, April S. 46, May
8. 81, Nov. S.11 bid, Dec. S2S.
The initial periods were mainly above
the final sales of yesterday with the ap-
precautions quite marked in some shares
Tobacco aud Leather preferred are the
features Oh the sptCuldllOP, anu on HtdNN
purchases the former advanced 5-S per
cent.
REVIEW OF YESTERDAY.
Yesterdays review, as reported by Will
bour and Jackson: In spite of unfavor-
able rumors from Paris, the London mar.
ket showed decided Improvement for
American shares yesterday morning and
the speculation here opened firm, but
with business still limited i'm volume and
dealing largely professional in character
There was some irreguarily during the
first hour. the movement inaugurated the
day before the coal shares not having
materialized, but the lndustrials took on
a firm tone, and there were also linn tied
buying movements in Manhattan, Con-
gOtfuateaLGas- Pacific Mail, the last
on reports, which were apparently -et-+t-
firmed later, that the agreement with the
Panama Company had been signed and
would be ratified by the various boards
next week. The important movement Ct
the day, however, was developed IN the
leather stocks, the preferred showing a
final gain OF about per cent and the
common about = per cent from the pre-.
vious nights closing figures. There was
no adequate explanation Tor this remark
able gain, although rumors were current
that an investigation OF the property by
certain important interests had led to
large buying orders and there were also
vague hints of a dividend on the prefer
red stock, slthough in what amount
could not be ascertaned. There were nc
engagements OF gold for export, although
IL was said that large amounts may he
taken onMondaydestincof for Russis, Final
prices showed important gains for the
Leather stocks, Tobacco, II. c. d. l.,
Manhattan. and considerable improvement
for other Of the leading shares.
ACTIVITY CONCENTRATED.
A popularity of the speculation for the
past 10 days or two weeks has been that
all the activity has contered in one or ;wo
particular stocks. 4 few DAYS ago it was
Tobacco; then Sugar was taken in hand;