The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-19
FINANCIAL NE WS.
Chicago Gas Is Booming in
Excellent Shape.
A Foreign House Offers to Lend Us
Gold.
Special to The News.

opoCinl w no NO"'-
NEW YoRH, Sept. 10. Bulls were more
than satisfied with the course OF prices
yesterday. They hesitated when the
rumors that the Crossmans would ship
&, 900, 900 gold knocked the market nearly
a point off about ii O'Clock, but the ac-
tion of Chicsgo Gas and developments In
the money situation soon brought back
their courage and the result was the
noon advance on some short covering, but
a good deal more of what seemed 10 be
good buying.
The two features yesterday were the
official statements that nearly ", Oc0, OOO
in money had already gone south ana
West this week, with the demand lncreas-
ing, which makes IL absolutely certain
that higher rates for money are coming
in the immediate future and the other
was the information that foreign house
offers S5, 000 900 on four months time at
2l2 per cent, thus saving the export OF
so much gold. In consequence Of these
two facts, syndicate houses will ship no
gold this week. 1t is probable that the
Crossmans will ship e, 600, 600 gold Sat-
urday and there may be other shipments,
but the money situation proves that the
end OF this falls gold exports IS in sight.
BY the removal OF one bugbear (gold
shipments) there is little In the way OF
the renewal of the advance in the market.
Important developments in Chicago Gas
and ID. 9. +. are believed TO be ending
and strength in these two stocks Is ex-
pected TO develop nerve among other OPP
orators aud the public is perfectly willing
to come in again IL there is some en-
couragement. The bears are confident
that when the Crossman gold is taken
the market will have another reaction,
claiming that the rally yesterday was
brought about by belief that the Cross
mans will not ship.
The best opinion last night was that
Chicago Gas would lead the market again
today, and that there would be good
deal Of short covering in the list. There
was a disposition 10 buy 81. Paul on all
reactions. The next bull card in the stock
will be the earnings for the third week
of Septemb Der, and they are likely TO show
even better than for the second week,
earnings for the third week last year be-
ing only f64, 2s9. This Will be followed
in a day or two by the August statement
OF the company which will show a mod
est increase in net
The feeling on &. b. @. continues bear
ish. The August statement is not ex-
pected to be good one
WALL STREET, Sept. 19.--The stock
market opened quiet but firm. Chicago
! Gas, In good demand, advanced I per
cent.
GENERAL FINANCIAL NOTES.
The London market at :03 D. IN. was
little of, st. Paul x Atchison is TO Ia
lower; l.. w. d. NJ, 3-S and Reading,
steady.
Receiver Walker thinks the corn crop
will not affect Atchison earnings before
Decem Der. The last Atchison assessment
Is payable today.
Rates In Texas have been restored.
Gold in the treasury, sos, 556, 954.
Detroit banks have offered the treasury
$500, 600 gold.
All trunk line roads have promised to
withdraw cut rates.
The war In plug tobacco in Chicago is
quite severe. Some brands which sold at
8 cents were sold yesterday at Is.
At 2:p. IN. London was 3-S higher for
Reading.
A Chicago special states that the first
reaction in the iron and steel market took
place yesterday. A slump of 80 cents a
ton on Bessemer steel and % to 80 cents
on billets took place. Further decline is
expected unless the coke suspension be-
comes general.
Joseph says: "Better take position
on the long side of the market and don't
try to catch every Is and Ia on the
promised reaction"
The coal stocks are going very much
higher. Buyers OF Chicago Gas are talk
ing 75 within 60 days. Don't bottle
your brains about the prospective assess
mnt; just bull Reading stock and in
comes"
NEW YORK STOCK QUOTATIONS.