The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-15
FINANCIAL Ne Tvs.
Spring Wheat Has Not SUI
fered Serious Damage.
Bulls Mainly instrumental in Bringing
About the 0ecliner
apeciah TO The NewG.

NEW YORK, July 40. Inc susnBsn 81
the Changers last week was surprising IN
view OF sales OF long stock. 1t is supposed
that at least 15, 000 shares OF st. Paul have
been marketed around these hugres:
There has been as much Z. Is. 6 u ana
Rock Island. Sellers in some cases have
used considerable effort TO get lower quo.
tation and express surprise that they
have not come. One Of the large houses
said that 1t could have loaned 5000 shares
of Granger stocks without difficulty.
ST. Paul earnings, as indicating the
earnings Of the Granger group, Will prop
ably show a substantial increase again
this week.
Results of careful inquiry don't confirm
reports of any extensive damage TO spring
Wheat. A Wall Street house, which has
facilities for getting information, wired
last week for the facts In regard TO spring
Wheat damage and received replies show
ing that the damage was in scattered To-
calities and not large in the aggregate.
Under ordinary circumstances decline
would be certain In the stock market. IL
must be remembered, however, that those
who are working for lower prices are bulls
In the main and only expect a smal oe,
cline compared with the advance since
March.
''Distillers' was suppressed by bear
selling and the publication OF statement
that receiver McNulta had been notified
by the former owners of the Monarch,
City distilleries that they would claim
their distilleries under judgment OF
custer. These distilleries were leased by
Messrs. Greenhut, Woolner, and Ross, the
latter a brother-in-law of Greenhut. IL is
noticeable that all parties TO this notice
are being sued by the receiver Tor the
misappropriation of funds of the company.
They are the only persons who are en-
deavoring TO secure the return OF dis
tilleries. All the other owners or lessees
have given the reorganization committee
their hearty support.
ToDAY's STOCK BOARD.
WALL STREET, July 5.-The stock mar
ket opened dull with practically no
| change in the initial sales, compared with
Sat urday's closing. The bears made
drive against Sugar, Leather and Tennessee
Coal and soon established lower range
| OF values all round. Coal broke 3l2 per
cent, Leather preferred, 3li, and Sugar
| per cent. The shorts covered freely IN the
more depressed shares.
After 1915 O'Clock Leather preferred
sold up Ii per cent, Tennessee Coal, lis
| and Sugar, per cent Chicago Gas evil
| denced a tendency TO lower figures, and
| went off 81 per cent. In the speclalties,
ST. Paul a Duluth receded per cent,
Iowa Central preferred 1l2, and Delaware
Il Hudson, per cent.
Speculation was very dull after II
| stagnant. Chicago Gas receded an ed-
| ditional quarter per cent, out rallied 7-S.
Distilling declined So and recovered as. To-
bacco rose per cent. but fell of Iii per
| cent Sugar gave way rs per cent. Sales
| to noon, u.s. 900 shares, including rs, 800
| listed and 80. 100 unlisted.
GENERAL FINANCIAL NEWS
Gold shipment is not taken seriously
1t is said that produce bills are begin
ming to come into the market.
| London Is firm with fractional gains.
Tennessee Coal and Iron Company
advanced to the men 10 per cent.
Charles Pillsbury says he would not be
surprised II the wheat yield of Minnesota
| and the two Dakotas were not more than
115, 900, 600 bushels.
1t l. said that the funding Of the Mis-
souri, Pacific floating debt is TO come of
| as soon as Gould returns.
| @. c. Q. & 50. Louis earnings for the
| first week Of July increased s115, 65S;
freight increased Se3, 253; passenger in
creased s22, 1884,
Joseph says: "What with the sensational
spreadhead reports in the newspapers,
all denunciatory OF the trusts, but more
particularly Sugar, Leather, Rubber and
Tobacco, and the current tips to sell these
short for a short fall, il is little wonder
that these specialties show a halting, not
| to say weakening tendency. 1t Will be
surprising il Erie and II. c. & /. do not
sell lower-much lower. Buy L. & n. and
ST. Paul on ia point decline"
New York bank clearings, $50, 733, 764;
balances, 80, 1876, 745.
New York heat receipts, 400; sales,
2,625, 900 bushels.