The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-09
FINANCIAL NE VS..
Bulls on Changers Expect
Sharp Upward Squirt.
Has Bond Syndicate Deposited Gold
With Sub Treasury?
Special to The News.


New YORK, Aug. 9.-The bulls on the
Changers look for sharp upward squirt in
these unoer the lead of Missouri Pacific,
Rock Island and st. Paul. The govern
ment crop report will come out after the
close OF business tomorrow and IL il re-
fleets the actual condition OF affairs il
will make the best showing of any crop
report, as far as Corn is concerned. There
is no doubt that in the absence of un-
toward conditions there will come a
sharp, even IL not a well-sustained rally
In prices, and those who buy the Western
group are likely to realize quick profit,
particularly as the excellent showing to
be made by the Government has not,
from Wall street point OF view, been dis
counted.
Sugar, IL the program be carried out,
will be less erratic than for some days
past and there will be the regular weekly
advance in the price of this stock. Insid-
ers, who have been largely responsible
for the recent manipulation, say Sugar is
safe to buy around I'd, as ii will certainly
sell up 10 per cent. before it reacts 2 per
cent. The condition OF the Sugar trade is
hourly improving and the company is
making great deal OF net money.
There are bull points current on Gen
eral Electric and 1t Is still insisted that
working arrangement will be entered
into between the two great electrical COM
panies.
There is very little Western Union for
sale around these prices and the stock
could be readily be put around 80.
Nothing was expected of the market
today OF Importance, unless the orders for
gold for export should exceed present an
ticipations. The best houses and the ma
lority OF the Traders continue to be bear
ish and anything like frost in the Corn
belt will make them aggressive bears.
Good Judges OF Chicago Gas think the
stock has reached the point where there
is conflict OF opinion as TO the immedi-
ate future and consequently short sales
are met by some fairly good buying or
ders. Neither side, however, il particu-
larly aggressive, as the bull position is
that II the stock should decline to near
62 on any action by the Attorney General
IL would be good purchase to hold
pending reorganization. They are, how
ever, willing to buy some stock on a scale
down to 55 in a belief that discount of
reorganization would quickly overcome
heavy sales on receivership.
London market weak and prices 3s
lower.
The Morning Jounal says the syndicate
yesterday deposited second 1000, 600
gold in the Sub-Treasury, in exchange for
legal tenders.
Atchison proper earnings for the
fourth week of July increased S12, 341;
A large amount Of Government bonds
will be shipped from London tomorrow.
Morgan will bring out the Erie plan
before the Reading plan.
Illinois Central will show about per
cent. earned for the year ending June g.
The talk is s12 on Erie common and 80
on preferred. Nothing but thanks is to
be returned for the assessments.
In raw sugar there is a stronger
tone, due to a better demand. Refined
is rather duh.
Joseph says: "The weather in the states
OF Kansas and Nebraska is hot and fore
ing, the thermometer stands above 80;
corn is thriving splendidly. Better buy
some st. Paul, Missouri Pacitic and Rock
Island, so as to discount the showing
that the report will make"
Dow, Jones & Company say that T. G.
x. l. officials in Nashville announce that
The strike among the operators at Ensley
Mines, Ala, is settled and the men have
returned to work at the wages paid be-
fore the strike.
Many officials say they have no knowl-
edge of deposit OF $4,000 gold, nor
has any been made up To the close last
night and they do not know OF any likeli- |
hood OF its being made.
ToDAY's STOCK BOARD.
WALL STREET, Aug. 9.-The initial
prices were generally fractionally below |
he final sales of yesterday, but the re-
sessions were trivial, except for General |
Electric, which opned q off, and made a |
urther decline OF Il per cent. Manhat- |
an, however, was strong and gained IL,