The Providence news. (Providence [R.I.]) 1891-1906, 1895-06-26
FINANCIAL NEWS.
st Paul Liable to Go Either
Way Shortly.
Bulls Are Not Quite So Confident as
Heretofore.
Special TO The News.


NEW York, June pa trader In st. Paul
said yesterday "The fluctuations between 81
| and 60 represent an amount Of trading which
! overshadows quite an important move. There
is no way TO Judge whether it has been buy
ing selling, but somebody has kept 81.
| Paul within that range for time long enough
| to have permitted either tho sale or purchase
of a good deal of stock. The points are very
confident that the Standard Oil interest has
not sold. If they are true, st. Paul will move
into the 7O's before long. II $1,000 TO G0,OOO
shares have been marketed the price will go
| back 20 64. The smaller decrease in earnings
and the very excellent reports in regard to
crop conditions on the line would naturally
| suggest to a long interest tho advisability of
waiting"
The bulls were fairly well satisfied with
| yesterdays market. They admitted that it
was narrow and that the break in Chicago Gas
had some effect, but pointed out that London
| was again buying, that the attempt to break
| the market had failed and that stock did not
| come out any more freely than before The
| talk OF crop damage was not of "A character to
have much weight. Rains IN juno were not
| likely TO hurt Corn, and bullish sentiment
| prevailed on the arbitrage stocks, particularly
| st. Paul and l.. te N. also on the Southwest
| erns, d. G. +. and the Iron stocks. Gas was
expected to go down, but it was believed that
it would cut loose from the market.
Commission brokers advised taking profits
eIs- -balges, bat -they-aia- net think the rise
sufficient to justify selling. The weaker tone
| Of Exchange and the nows in regard TO tho
| bond syndicate were regarded AS rather favor
able The spurt in d. G. f. at the close was
regarded by close observers as Greenhut
covering.
Reports of rate cutting are coming in and
| London Is fractionally lower. This may give
| some reaction in prices here, especially of the
high-priced stocks.
| c., c., &. g. st. Louis net earnings for the
month Of May increased S66s9, operating ex-
penses having increased Sl54, 764; surplus in
crease, S375l; IL months surplus increase,
$500.
Ontario & Western earnings for the third
week of June decreased Sl6,966
Chairman Goddard says he sees no likelihood
| of the restoration of East.bond rates soon.
The difference between raw and refined
| Sugar is said TO be the largest which has pre-
vailed since the new tariff took effect.
Reading shows deficit in May for the rail-
road company of $40, 993. against SIPS, s4i last
| year: Coal and Iron deficit, Sl0l, 20, against
| S23, 4l5 last year.
The London market is from Il to Il lower.
There is some hitch about the acceptance of
Mr.. A. L. Hopkins as president of the Susque-
hanna. It seems that his acceptance was
conditional.
There is talk of a strike on tho Western New
York s. Pennsylvania Railroad.
A rumor is also current that the bullion
bankers are accommodating all the silver they
AZ fnr t,Naa
nifty.
J. 5. Bache says that the court has issued n
mandamus to compel the City Council to
make an appropriation for tho payment of
the judgments obtained by Chicago Gas
against tine city, aegregating Sl05O0O.
Joseph says. "The weekly crop report is
favorable. The short interest is out of tho
Grangors. unless London bulls st. Paul and
l.. 81 n. The active market will probably
rule duh with a moderate reactionary tond-
ency. The Industrials will be somewhat
feverish. Tho Morris Groenhut people aver
that they are not short of ID. g. f."
Jersey Central net earnings for the month
Of May increased $50, g3i; from Jan. to May
81, 39l, o25.
ToDAYs STOCK BOARD.
WALL STREET. June g6.-Trading was quite
DIlNh ~ Nlo biltulHSs bub tiA'io 40 iAo Na,NN''
tone TO tho market Values were changed
for the most part but fractionnlly, but there
were some shares which covered "a wider
range. particularly Sugar, which lost l9s per
cent.
Tho speculation was unsettled in tone for "A
brief time after 10 10 New England made
the widest fluctuations, declining = per cent.
Values thon took decided trend upward,
Sugar rallying per cent. 10 ll4ls; Chicago
Gas. -: Wheeling & Lake Erie "a Wheeling
81 Lake Erie preferred ~ 10 81. Tho Kan
sas S~gexas shares were largely traded in and
rose "a to - per cent, but the common stock
Lost the improvement. Tho second mortgage
bonds of the road are the feature Of the bond
speculation and are mp pa per cent. TO Ga.
Ten thousand dollar silver certificates
brought CO. 4.
Speculation was dull, without feature aside
from "a jump in Tobacco 10 ll3, a net gain OF
2 per cont aftor II a. M. Illinois steel brought
77sz on a regular transaction Up to noon the
market was dull and until within tho last
few minutes fluctuations have boon unim-
portant. metropolitan Traction has declined
-. Minnesota Iron A.. Can. Southern, 5s md
General Electric and Louisville a. Nashville
81. Reading advanced p and Illinois Steele on
each sale Of 100 sharos broke &s por cent.
Sales 10 noon 1890 shares, including "a, 100
listed, and 80. 800 unlisted.