The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-13
FINANCIAL NE WS.
Two Parties in the Market
Fighting Hard.
Bears Making Strong Efforts to De.
feat the Bulls.
Special TO The News.

NEW YORK, Sept. 13 arrangements
were made yesterday evening for the snip
ment of a million and half of gold by
tomorrow's steamers, and IL was thought
that this amount would be further swelled
TO the extent OF e, 00o, 900, or perhaps
W, 500, 600. The bears on stocks are con-
tinually harping on this drain on reserves
but treasury officials evince not the
slightest alarm.
1t is intimated that a drive may be
made at Sugar, with view OF forcing the
price Of that stock down or 2 per cent,
in order to facilitate coverings IN other
directions. There is no reason why Sugar
should, yield, except that it is subject to
manipulation, and in the absence OF some
prominent operators, who are known 10
be particularly friendly TO the company,
those who wish TO monopolize the market
for trading purpose are not likely TO
meet with any very serious obstacle.
The bulls were disappointed over the
failure OF the market to rally in the first
hour, and We're astonished at the amount
OF stock which was pressing In all direc-
tions from the opening until after IL
O'Clock. There was further disappoint-
ment at the dulness from IL until o. o'clock,
and the rally in the last two hours was
not satisfactory, because the list was irreg-
ular, and no group OF stock showed bull
snap.
The bears claim that the Exchange situ-
alton, the low prices OF grain and the
long advance without reaction are certain
to produce lower range OF prices within
a short time. rhe bulls say that the syn
dicate will take care Of the gold reserve,
business will improve, and stocks have
not discounted the fall and winter busi-
ness. There are distinctly two parties in
the market, and there is likely TO be a
lively contest for supremacy, as the short
interest is larger than II has been at any
TO- of nf
stock is still held by comparatively weak
holders.
ToDAY's STOCK BOARD.
WALL STREET, Sept. l3. THE market
opened weak and moderately active The
tendency of prices continued downward
and current quotations showed declines
of III in Tennessee Coal, Kansas & Texas
preferred l, and Cotton Oil preferred, /.
ENGAGEMENTS of geld for export on TO. ;.
effect on the share speculation and cur
rent quotations were ls TO per cent. De-
low the final transactions of yesterday.
All of the leading shares participated In
the retrogressive movement.
GENERAL FINANCIAL NOTES.
The London market today is about
steady, St. Paul, however, being u down.
Coal prices are advancing. evidently
with concerted action, which is regarded
as very lmporlant sign.
The selling of ID. G. +. yesterday was
principally by shorts, and by tired bull
holders. They have held on thinking
that the company woulo make big profits
all at once. The distilling season does
not beigr until October.
Joseph says 81 took occasion Monday
TO say vord about Minnesota Iron,
which has.siDce sold up points, and IN
a bear marEe. Now mark his predlc-
tion: MiuUesoie Iron, now ~, VIII sell
st 100 before 1t sells al Sd. Hold Pacific
Mail. Western Union aud Electric. Buy
Rock Island on y per cent. dip, and aver
age st. Pau, and Atchison. "
Hoskler, Wood Co., will ship $500, 900
gold on the Lucania. This moderate
shipment, they state, is made under some
what peculiar circumstances, and may
not be followed by further shipments.
Nessiage Fuller & Co., will ship si00, coo
gold tomorrow. Up to IL O'Clock, 50, 500, :
600 had been ordered for shipment.