The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-23
FINANCIAL NE VS..
Reasons for Understanding
Between Anthracite Dealers
Prominent Stocks Oiscussed-London
Market-GeneraI Notes.
Special 10 The News.

NEW YORK, March 23.--Those who are
looking after the bull interests in the
market insist that they are right, hence
they have no hesitancy In forging ahead
and advising their friends not to play for
temporary reactions, but TO maintain
their position on the right side of the
market, because the big money OF the
near future will be found by following
this course.
The Importance OF an understanding
between the anthracite companies may
well be imagined when the facts that
governed during the past six months are
taken INTO consideration. Because OF the
"dog eat dog" policy, the Lack
awanna made but fraction over
six per cent. last year, whereas 1t
might have made fully 10 per cent. had
conservatism prevailed in the business
management. The Delaware & Hudson
likewise lost q great deal of money which
was literally thrown away, while Jersey
Central succeeded in pulling out with
per cent. dividends. At last it would
seem that these managers are coming 10
their senses.
The apprehension that prices may be
put up quickly is fast gaining ground and
a number OF large consumers, who have
been holding off from making con-
tracts, are now evincing considerable
anxiety. The Coal stocks should do
better. II is by no means certain that
there will be heavy assessment on Read
ing and IL can be authoritatively an
nounced that the plan of reorganization
that contemplates the exchange OF In
come bonds for preferred stocks Will
never be carried into effect.
The market will broaden next week and
1t Is not at all unlikely that London, in
the course of few hours, will pull on its
bull boots and take hold of stocks with
great deal of enthusiasm.
The agreement entered into between the
General Electric and Westinghouse COM
panies naturally puts new phase on the
condition of these affairs. The short in
terest in General Electric has been very
largely eliminated.
Sugar, in all probability will sell at 105
before it reacts even moderately from
these prices. All reports to the contrary,
the insiders b We been distributing thcir
holdings. Tie condition of the Sugar
trade is better than it has been in
months.
There has been some realizing in ID. G.
F., but no material further decline is
looked for. 1t is claimed by
those who watch the market very
closely that the short interest
is as large in the new certificates rs ii was
not improbable before the last of the four
assessments is paid Wbiskey will be sell
ing in the neig hborhood of %.
The are a number of outstanding con-
tracts in Manhattan and Western Union.
The bull point on Western Union is not
the company's business, nor that test
Office receipts begin to show some in
crease, as much as the fact that the best
part of the 100000 600 capital stock is
distributed in the hands of small
investors that hold anywhere from 10 TO
30 shares each and who regard 1t as a
fairly safe 8 per cent. investment, and
consequently will not sell.
Today's Stock Board.
WALLSTREET, noon.-The stock market
opened active and generally lower. The
pressure to sell was most pro-
nounced in Northwest, a loss of 1-2
per cent. being established. General
exceptions and advanced y to respec-
lively. Subsequently, however, General
Electric lost the gain and Chicago Gas
went off Is.
General Financial Notes.
A London special to weeden, Kendall
& Co. this noon says: American stocks
closed quiet and steady compared with
Yesterdays New York closing prices
st. Paul, Erie, Atchison and o. * W., X
lower; l.. s., l.. a. N, n. p. preferred and
Reading, unchanged; U. p. and n. Y. e.,
u higher.
There is not much to be said of the local
market this week. 1t has been very quiet
although a better feeling predominates.
Investors want 5 to 5h per cent net on
safe bonds. The bank stocks are fiat.
The plan for reorganization OF the Kent
q Stanley Company, as published exclu-
sively in last Saturdays News, has been
accepted by the stockholders, as pre-
dicted.
Cotton.
New York cotton futures opened steady
at the decline; sales 10000 bales. jan,
6.33; March, $3.50; April, sos; May, sos;
June, 6.07; July, 6.09; Aug, 6.12; Sept,
GIG; Oct, 6.19; Nov, 6.24; Dec, 6.29.
Liverpool cotton opened points lower.
Sales 5000; market barely steady. Spot
cotton closed easy at 3hd. decline.
Futures closed easy at net decline OF
3-64d.
Wheat.
Liverpool Wheat is quiet; demand poor;
holders offer moderately.
Providence Clearing House.
The clearings of the Providence banks
today amounted to s3,Sgo,9O0.
New York Stock Quotations.
REPORTED BY MILLER a vAUoHs.