The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-05
FINANCIAL NE WS.
Market Inclined to Be Some.
what Bearish Today.
Every Evidence, However, that this
Year is Bright.
Snecial TO The Newa.

NEW YORK. Aug. 5.-The bears on stocks are
banking again on the possibilities OF a fresh
silver scare. They believe, or, rather, they
profess TO believe. that free coinage is still
among the possibilities. the very near future
and that it il certain that the next Congress
VIII take mp this matter and push bill
through the House and Senate by such an
overwhelming majority that the country
VIII have 10 take cognZance OF the situation
Those who are by no means pessimistic upon
the SITUATION or even alarmists IN the slght
est degree, say that the silver craze Is just
as dead as all other monetary fads that have
originated in the brains of wild men.
The bulls on the market are by no means
despondent. On the contrary they sec much
In the situation to give them the greatest
amount OF announcement. Commission peo-
pie advise their clients not TO wait for too
pronounced reactions, but 20 take advantage
OF even moderate recessons 10 pick up the
recognized active stocks. They say that the
next upward wave will carry prices 10 TO 10
per cent above the present level.
The outlook for Northwest, st. Paul. Rock
Island and Q. B. & .. Is excellent and must
not be gagged by the opinions of the profess
slonal spectators in stocks and grain. When
these self-made farmers realize the state of
anairs they Will be sorry they devoted so
much OF their time in direction they know
nothing Of This year. with no damage 10
the corn corp, viii go into history as one OF
the brightest business years the country ever
beheld. Press advices could not possibly be
more favorable than they are. The best
authorities reiterate that so favorable have the
reports become of an eDoroms crop that the
managers OF the various railroads that ira
Verse the valleys of the Mississippi and Mis-
souri, rivers are increasing their forces of
workmen and all rolling stock is being re-
paired and made available.
Ii may be just as well TO advise your readers,
again, that today is bank holiday abroad
A sharp cut in the selling price of Sugar
has been made by large grocers in Illinois,
Georgia and south Carolina, and in spite Of
the sugar Trust rebate of 3-l6 cut per pound,
which insured the handlers of trust goods "a
good profit IL they lived up TO their agree
mont, this trouble is extending and general
decentralization will take place if something
Is not done.
A San Francisco special says that the Ha-
waiian sugar planters have undertaken 10
form "a sugar trust to break down the Ameri-
can trust and establish free market for
sugar million dollars has been subscribed
far.
Inquiry was made at the subtreasury Sat
urday for Sl5O,0O gold. shipments are look
ed for this week.
Tho United States bonds sold abroad by the
bond syndicate will be delivered sometime
this week; large proportion will be shipped
to this side.
Some Improvement in Cordage trade is an
nounced.
Canadian Pacific earnings for the fourth
week in July increased 1000; month in
crease, $4,000; Jan. TO July 81. decrease,
$453 0O0.
Joseph says. "The market will probably be
somewhat feverish sut big money will be
MADE IN the course of the next few weeks on
the long side of Western Union ST. Paul,
Atchison, Chicago Gas and in Wheeling a.
Lake Erie common and preferred.
Iowa Central earnings for the fourth week
OF July increased -l9Sl. month increase, S2SS7.
ToDAY's STOCK BOARD.
WALL STREET. Aug 5.-AThe stock market
opened quiet and irregular. The list general
ly ruled higher. Chicago Gas in the van with
gain OF rs per cent.
NEW YORK STOCK QUOTATIONS.