The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-15
FINANCIAL NE WS.
President CIeveIand's Reply
an interesting Development.
Louisville & NashvilIe's Support.
Whiskey Reaction.
Special 10 the News.

Il
esting, II not the most important, develop
ment today is President Cleveland's reply
| to and declination of the invitation ex-
tended TO him by 100 prominent business
men OF Chicago who will meet in conven-
| tion for the purpose OF perpetuating
sound money policy. The executive, in
characteristic and most forcible letter,
writes among other truisms:
"The situation we are confronting
demands that those who appreciate the
| importance of this subject, and they
ought to be the first TO see the impending
danger, should no longer remain indiffer-
| ent or overconfident. liz the sound money
| entiment abroad in the land is to saves
| us from mischief aud disaster il must be
crystallized and com mbined and made inn
| mediately active. What Is now needed
more than ANYTHING else is plain and
| simple presentation of the argument in
| favor OF sound money. In other words, 1t
| is time for the American people to reason
| together as members of a great nation
| which cdn promise them a continuance OF
protection and safety only so long as its
| solvenoy Is unexpected, Its honor unsul-
| lied and the soundness OF its money un-
| questioned"
Louisville & Nashville will receive some
tangible support, especially as pro-
nounced movement is looked for to
| emanate from London with the resdmp-
tion of business tomorrow.
The impression, founded on recent OBJ.
| servation, Is that the insiders of Whiskey
| are by no means opposed TO a moderate
| reaction. This does not mean that DEF.
certificates will have a marked decline,
| but recession OF point or SO will prob
| ably be in order.
| Work in the Havemeyer sugar refineries
| in Williamsburg was resumed last even
| ing by 1000 hands, and the rest OF the
employees will resume work today.
Saturdays market derived its interest
| from the advance in the Wander
| bilts. Various constructions were put
upon this movement. One was that
| there was going to be melon
| in Lake Shore, another that the Wander
bilts were strengthened either by the
| bond syndicate or some other interest for
effect on sentiment. The latter view was
|
| the preliminary move of Saturday would
| be followed by efforts on the long side
| this week.
There are rumors of favorable develop
] ments TO come out in the Lake Shore an
nual report.
The coal presidents may meet today.
Joseph says: missouri, Kansas x
| Texas preferred is good to buy and hold.
! There are still 10 points profit on the
longside of M, X. q T.. seconds. Don't
be afraid to hold Sugar; it is o. X. Get
a little l.. d n. and keep it until tomor-
row; London will support it,"
Receiver Turnbull OF the Union Pacific,
| Denver q Gulf, has sold to Denver capi-
| talists 100000 receivers certificates so as
to build a new line paralelling ID. II. G..
The Seaboard Air Line has made anot ther
| cut. This affects the Southern Railway.
Spirits are selling 123 to 12i, which is 2
to 8 cents below cost. This fight is SO Sc
we're that it can not last long. The annual
meeting of ID. c. f. takes place next
| Wednesday at Peoria.
Members of the Reading reorganization
committee still very positively state that
| they will require u per cent. or not play.
Northern Pacific net earnings for Feb
ruary increased SiO2.75; the Big Four for
the first week of April increased s24,279.
Cotton.
| New York cotton futures opened
strong; sales $1,000 bales. April, Gas bid;
May 6.57; June, 6.5i; July, 6.56; August,
6.59; September, 6.e3; October, $685.
November, 6.7i; December, 677.
Railroad Earnings.
L. Mist Apr, s3l0, ,999; dec, sSS95.
southern-1st Apr, 1923, 1885, inc. sl9i9.
N.P.-1st Apr, sS27, $3.50; inc, s69,55i.
Ft. w. & II. G.-1st Apr, 5000; inc,
s2s12.
&. & G. With Mas, sss,OsS; dec,
s1i,227.
T., A. A. & N. Mist April, s1s,5l5;
dec, S2312.
L. L-March, 1851 ,7i9; dec, 1855.
NJ. ~ C.-Mar., s93, ,776; dec, si5,95i.
st. L., a. d 4. H.--Mar., sl0s ,126; dec,
sS3s5.
Today's stock Board.
WALL STREET, April Is. - Stocks
opened strong and inactive. There was
wide distribution OF the trading and
appreciations have been made; the more
prominent Tobacco and Leather Pre-
ferred, per cent; Northwest, q; and
Sugar, Leather, Louisville a. Nashville, g.
C. c. & ST. Louis, Lake Shore, Southern
Preferred, Kansas q Texas Preferred and
Wheeling & Lake Erie Preferred, u per
cent.
After 10:15 o'clock speculation was in
active and strong with good inquiry for