The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-06
FINANCIAL Ne VS..
Little Reason to Expect Any
Material Reaction.
Ills a Waiting Market With a Tired
leek.
Special 10 The News.

NEW YORK, Aug. 6.-The people who
have been the heaviest buyers OF ROCK
Island, and who have been deyotlng con-
siderable Of their time to Sugar, particu-
larry the preferred, and who have also
been absorbing Chicago Gas, freely say:
"While business continues as good as IL
Is at present, with every prospect fiatter-
ing, there is little, II any, reason to look
for, much less anticipate, any material re-
action in the market. Each day establishes
the financial situation upon more solid
basis, and il no injury should occur to
corn, and with wheat harvested, there
will come further squirt in prices that
will carry not only the dividend-payers,
but likewise the low-priced stocks to
higher level than any that have been at
tained in years.
Sugar, as has been the case for some
DAYS, promises to be erratic. There were
some unexpected selling orders left at the
close of the day, which it was expected
would be replaced this morning. III Sugar
yields one point or so it will bear a pur-
chase again. In the course OF 30 days, so
the insiders say, 1t will sell very much
higher.
A large operator, who has been very
bearish on Gas, has changed his position
OH the stock and Ii 10 his buying which Is
said to have caused the recent advance.
He has not only covered up large short
line. but is said TO have gone long. There
\ has been buying from some sources lden-
titled with the management, but not on a
large scale. Their buying has been infiu-
enced solely by the earnings, which are
satisfactory.
Bradstreet' Is announcement yesterday OF
over 200. 900 decrease in the visible wheat,
and nearly 3, 900, 900 decrease as compared
with a year ago, was discounted in the
forenoon, and on public announcement
Influenced prices very little. The higher
opening and early advance were also due
in n measure to more encouraging export
business and bad weather on the Conti-
nent There was some short covering on
the advance. The reports of perfect
weather and conditions in the corn belt
occasioned liquidation and short selling
of Corn. The fair cash demand for Corn
helped to steady the price, which rallied
feebly and closed one-eighth above the
lowest. The present premium for Wheat
In New York is almost enough to make
Chicago on shipping basis to seaobard.
IL Is a waiting market with tired look.
Commission houses are complaining OF no
business. The factors OF special import
ance now are the Exchange market and
the crops. Further gold shipments are
feared and professional operators are
making use OF their fear to create appre-
hension There is some long stock COM
ing out i'm the Changers, which hesitate
most because there is the largest bull
account in them. Trading outside OF the
! Grnngers is running into specialties,
where special influence prevails, which
accounts for the advance in stocks like
Manhattan and Consolidated Gas, and the
decline in Erie.
EMAIL STREET, 2 p. IN. Lead preferred
and Tobacco displayed strength and rose
| i and 10 per cent respectively; the latter
subsequently lost 3, of the gain. TIL.
general list has been lower, Pullman and
Leather preferred reacting per cent, ano