The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-23
FINANCIAL NE WS.
Louisville & Nashville Stock
at Small Premiums.
Crop Damage Not as Great as at
First Supposed.
Special 20 The News.

NEW YORK, May 23.-The loan crowd |
in Louisville d Nashville does not indicate
the presence of any large short interest,
but it 10 said that outside of the board q
block of the stock Is being borrowed and
some days at asmall premium. III ihlS
stock we're borrowed IN the Stock Tx
Change il is said the rate would be con-
siderably higher. Those who ought to
knows good deal about l.. q n. say
that they have no information OF
such block being borrowed, although
they say London houses may be borrow
ing a good deal Of the stock.
The news fromlthe crop.growing regions
is more encouraging, and 1t Is believed
that the damage OF the past Few weeks
will soon DC repaired. 1t is source Oh
infinite congratuiation that the cold
spell came when it did. Corn had scarcely
been planted in many important sections,
ana consequently no very great injury
was done, except to cause re-planting.
The Cincinnati Price Current says:
! "Winter wheat was not greatly injured
by the frosts. The average condition,
however, has been further Lowered de-
cidedly by insufficient moisture and pests
in large areas Of the central and western
regions"
The grain markets were booming yes
terday on country buying.
London is all strong today on the con-
clusion of their settlement.
1t is considered that 1t would probably
be well to await further sdvices from the
West about crops before buying largely.
Vice President Bond says there was no
crop damage along his road.
The president of the ID. c. +. Company
wires that the condition of the company
is excellent and it will make lots OF
money in the next three months.
Joseph says: "Better keep q sharp eye
on Gas. This will be the next index to
the market, and, like Mrs. Tootle's door
plate, 1t will be good thing to nave In
the house. There is more than an even
chance that Western Union will be listed
on the London exchange. IL this
is done Telegraph will sell at 105 over
there. There is no risk in buying Sugar
preferred; 1t is worth 110. Industrisls
are liable to be somewhat errstic. Average
C., b. & @. There were 81, 900 shares OF ID.
G. f. sold, and the stock broke 1h
points-'nuff said.'"
COTTON.
Liverpool spot sales, 1900 bales; fu-
lures steady IL points advance. Later
cable says: advance lost"
New York Cotton futures opened steady
at the decline; sales 5000 bales. jan,
1856; Feb, 7.40; March, 7.45: June, 7.O5;
July, 40; Aug, 7.16; Sept, 722; Oct,
7.27; Nov, 7.30; Dec, 1888.
Cotton Spot closed dull; middling
uplands, Z 5-16; midland gulf, Gle.
ToDAY's STOCK BOARD.
WALL STREET, May 23.-The stock mar
ket opened quiet, but with slight i'm
provoment in many shares. Mobile q
Ohio displayed considerable strength and
advanced ~ and Louisville q Nashville
Leather, and Reading Is per cent.
THE WOOL MARKET.
The market IS dawdline along mos
: monotonously; some kinds of stock have
been sold this week at exactly the prices
at which parts of the same lots were
sold two weeks ago. There is compare
lively little old or now wool selling; o
the latter the sales are especially small
Advices from the early shearing section
indicate that somo of the initial opera
tors have withdrawn; representatives o
! wool houses are on the ground waiting
for an opportunity TO do some business
opening prices being too high for safety
In the recent past, purchases in the Wes
have been made on a higher basis thar
is warranted in this market. III thes
woods are held, a possible effect may b
| to further divert the attention OF manu-
facturers to foreign wool; this In turl
would tend to render the latter firmer
On the other hand, there arc many user
. OF stock whose manufacturing circum
stances compel them lin their judgment
at least,) to about exclusively use tn
domestic product. In the mesnw hile tn
general demand, as observation OF Bosto
3 market conditions shows, Is far from In
d spiring. Rhode Island mills appear {
~, have been well stocked, and they have
strike on their bands Of indefinite dura
q ton; furthermore, the unseasonabl
weather has been squarely against salts
y factory trade.
The sales OF the week amount TO 1899
900 pounds domestic and $4,000 pound
foreign, making q total OF, ,29s 800 agsin'
a total OF 2,s33, 800 for the previous weel
and a total OF 1871, 900 pounds for the col
= responding week last year.
The sales since Jan. I, 1896, amount
o 81, 459, $50 pounds against 49,97e,ooo pount
year ago.