The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-20
FINANCIAL NEWS
Sugar is Puzzling Very Many
Investors at This Time.
Cotton Way Up Jersey Central Coed.
General Notes.
Special 10 The News

Special TO The News
NEW YORK, March 20.-The action OF
Sugar was considered evidence OF stock
being sold on the strength of the other
market. At least two of the interests
identified with the advance are under
stood to have closed their line and one at
least thought yesterday that Sugar would
60 back TO the neig h hborhood of 80. The
break OF 96h was on GALES by Wheeler d
Co. (3000), Kennett a. Hopkins Q0O0),
Stowe (lO00), and traders. A house inter-
ested in Sugar commented last night:
"lnsiders have made their turn and are
waiting the action of Germany on the
bounty. Ii is entirely possible that this
action will have no real effect upon sugar
refining in this country, but it has been
discussed until IL is likely to
have a sentimental influence and
there are people understood TO be ready
to depress Sugar il the German bounty is
increased, because they think it will en-
able them to acquire cheap stock" Some
of the people who were bullish on Sugar
around 80, and who proved 70 be right,
say Sugar will sell higher within 30 days
than it has yet sold, but they say it is not
time to buy.
ing the forenoon and 1000 more at the
close. Mr.. Worden was the other princi-
pal buyer. Amory a. Worden had, about
o'clock, an order to buy N. W., st. p.
and c. b. g. @. This buying attracted at
tention and led to various guesses as to
its source. The effect on St. Paul was TO
bring in some other purchasers.
There is no doubt of the fact that the
unwillingness of the holders of st. Paul
to sell on the reduction of the dividend
led the interest which has been accumu-
lating stock on scale to advance the
price on belief that there was little or
no long stock in the market.
The little pool in N. w. advanced that
stock, and was helped somewhat by vari-
Gus bull rumors from Chicago in regard TO
the prospects for better business. What
ever the prospects may be, Mr.. Hewett
tells personal friends that the present
tonnage is far from being satisfactory.
Boston helped the rise in o., b. q q.
Insiders accumulated some stock while
ago and are understood to be quite will
ing to help a moderate line along.
A director of Jersey Central says: "The
buying of Jersey Central is in part
by those who sold what they
did not have, and partly by
those who knew all about the property
and believe in its future. The sooner
people learn that he present me nagers are
themselves the owners OF the property,
the sooner they will recognize the i'm
portance of not selling the securities
short. Jersey Central's position in the
coal trade is a satisfactory one and will
suffer no injury Of any consequence from
any management which may be made on
Thursday.
General Financial Notes.
London prices show fractional declines,
except st. Faul, which is up u.
The Telephone bill in the New York
Legislature was killed yesterday.
The New York newspapers say suits
have been commenced against Greenhut
and Morris for several million dollars said
to have been diverted from the treasury
by contracts, etc.
The Long Island Traction Company has
issued a circular for the contribution of
= per share.
1T is said that the Rockefeller interest
in Sugar was sold last week.
The Denver d Rio Grande ia affected
most of any road by the rise in silver. A
lasting rise in the metal would put the
preferred stock on the dividend paying
list.
President Clark of the n. Y, y. ii. &
II. road Is quoted as saying that he sees
very substantial evidence Of Improvement
in general business throughout New En-
gland. Factories along the New Haven
. road are doing a better business and rail-
road men South aud West are also more
hopeful.
Missouri Pacific earnings for the second
week of March decreased $1,000.
Corn holds firm with the local crowd
bullish.
Lake Erie & Western net earnings for
January increased s26, 1876, and the surplus
after charges increased s23, ,48.
Cotton.
Liverpool cotton market at 2:15 p. m.
showed u point advance.
The New York cotton market opened 7
to II points higher. There is a good deal
OF cotton for sale and tisis is standing in
| the way Of further advances.
Cotton sales, $500 bales. March, 6.25;
April, 6.2i; May, $50; June, 6.29; July,
g. 80; September, 6.35; October, 6.36; Mo-
vember, 642; December, 6.i6.
Wheat.
CHICAGO, March 20.-The local crowd
started bulling wheat on lighter receipts
i'm the northwest, and showing in st.
Louis, but New York is selling. and some
scalpers are letting 60 what shows profit
over night. Wheat opens strong, with
| light trade. The strength is due to some
buying by shorts.
Paris Wheat: April, lower; Flour,
5 to 10 higher; Berlin, unchanged.
Northwesterns' receipts, 2sl cars; last
year, 306.
Scalpers, who bought Wheat on the
early bulge, afterward sold on firm spot
occasioned by Liverpool cables.
Today's stock Board.
| WALL STREET, l0:15 o. m.-1he stock