The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-23
FINANCIAL NEWS.
Largest Gold Shipments Yet Are
Expected This Week.
General Electric Statement-Presi-
dents Message To Cabinet-Gossi

NEW YORK, Jan. 23.--The bears have
got another will-o-the-wisp that they
are chasing and one upon which they are
laying great deal OF stress.
Two OF the most aggressive members OF
the bear party said yesterday evening
that they were willing TO wager that gold
will be at premium this year and prob
ably soon after the adjournment of the
Fifty-Third Congress particularly II no
! more progress is made on the currency
bill than that which for the moment has
been reported.
They rely on Secretary Carlisle to make
further blunders, and they recall with a
great deal OF unction the announcement
credited to the Secretary of the Treasury
nearly two years ago when he questioned
his ability to redeem the Sherman notes
in anything but silver.
Those who know Cleveland best are sim
cere in their belief that il matters little or
nothing what is done during the next 80
days at Washington, as be will not under
any circumstances, permit any further
blundering.
Advices from Washington state expiic-
lily that preparations are progressing for
the calling together of tho Fifty fourth
Congress and that the session will be held
An uouDle-qulck time.
While the feeling on the bull stocks is
not bullish. and il is believed that an
operator, that for years was most promi-
nentiy identified with Missouri Pacific
aud Western Union, has sold every share
| OF stock that be once possessed, even the
bears are under the impression that
these properties have run the gauntlet
of depression, and that they are not likely
/ 80 fa~ f.x.t
months than they have during the past.
! A loan for six months was made on
Manhattan yesterday by a prominent
trust company on a 3la per cent. basis.
! This simply goes to show that when one
has the collateral it is easy enough to get
funds at very low rate of interest.
II is more than likely that arr sngements
will be completed today for the shipment
OF round lot of gold TO Europe on Satur-
day. Some prominent foreign houses in
cline TO he belief that the exports on that
day will exceed s5,0O0010 and in all proba-
bilty will foot up & 900 900. Under these
circumstances 1t can readily be seen why
| traders do not feel enthusiastically bull
| lish and as dealings are restricted almost
entirely to within the four walls OF .he
New York stock exchange, it would not
be surprising il temporarily, at least, a
lower marked should prevail.
General Financial Notes.
Liverpool Cotton sufes, 1a,636; spots
1-32 down; easy futures, Is down.
The cotton market is heavy in New
York. There seems to be some long cot
ton hanging over the market.
| Joseph says, The clouds are beginning
| to lift. The sup will come out in full
force presently and by the time the apple
trees blossom Wall street may be in much
more pleasant frame of miud than it is
for the moment"
The Chicago. st. Paul. Minnear oils q
Oma ba railroad has declared their regular
semi-annual dividend of 31s per cent. on
the preferred stock OF the company, pay
able Feb. 20. Books close on Jan. 81, and
reopened Feb. 21.
Exports of merchandise from the port
| of New York. for the week ending yester-
day, were valued at t9, ,7SS, ,isl, against
s7,6i6, 723 for the preceding week and S.
! O79,0s6 for the corresponding week last
year.
The Old Colony Trust Company elected
the old officers and directors yesterday.
! The earnings of the Boston Il Albany
Railroad Company for the first week in
January were S701 ahead of last year. IL
! is expected that the month will make a
| good showing.
| G. b. a. @. people in Boston have no
knowledge of heavy suits against The
company for damages on account OF lum-
ber fires.
The Britannia yesterday took tway
10000 in gold. The rest of yesterdays
Withdrawals will probably go Saturday.
New York bears had begun selling yes
terday morning and the action of the
| pooling bill made them work harder in
depressing prices. The sentiment OF the
street is with them, although the short
interest has increased. Affairs in Brook
lyn are no better.
London is firm without much OF any
change.
A full cabinet meeting Is TO be held at
Washington Fric ay. Two members are
known 10 lie OF ! ose ! 10 any message. but
it is rumored tina. the President has de-
cided TO go ahead nevert heless. There Is
also same talk of attaching provision to
some appropriation DILL TO provide an
issue of 3 per cent. bonds.
General Electric directors have issued a
statement declaring that the compsny
has no floating Gebt and since the last
annual report has purchased s1.127 900 of
its debepture bonds, IN payment OF which
several assets have been liquidated.
There will be- meeting OF Aichison Sc
curity owners in London to-day and final
action is expected on plan OF reorganiza-
| tion.
Arbucklo Brothers withdrew S1,0D0,0OO
yesterday for South America, To GO via
London.
Adviccs from Chicago state that Wheat
opened weak: sales sparingiy at 5jh and
sold quickly to 5iT again under more
outside liquidation. The corn market
shows decided stHenath aud would fa4lS
sharply IL Wheat should turn.
A large amount OF Chesapeake & Ohio
Southern bonds have come over from Am
sterdam lately; amount estimated at from
three to four millions. Illinois Central is
buying them, and this increases gold
shipments.
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