The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-07
FINANCIAL NEWS.
Special 10 The News.


NEW YORK, Aug THE believers in
lower prices were in large majority last
night, for most OF the traders were on
that side. The principal bear argument
was the possibility OF heavy gold exports
on Saturday. Many OF the leading bulls
said there might be reaction, but the
gold export bugb bear would not amount
10 much, even IL considerable gold was
sent out Saturday, as the syndicate would
either interfere or new bond issue
would be made The claim that too
much corn was a bad thing was non
sense, because too little corn and too
much corn would not break the railroads.
The corn crop. IL IL is secured, no matter
what the price is, will be OF immense
benefit to the section of the country
which has been the poorest and to the
railroads therein.
An officer of Missouri Pacific, who has
Just returned from a trip over the road
says that M. o. p. will have an exceed
ingly good year in 1896, because OF the
enormous corn crop along its lines The
people have been extremely poor there
but the big corn crop this year Will put
them on their feet and general business
will be the best for three or four years.
The quiet course of Tobacco of late is
attributed 10 the absence of prominent
interests from this city. Ii is stated that
they left behind introductions TO keep
the stock at about present quotations,
and that when they return in the fall
they will make another movement.
Sources usually well-informed have no
knowledge of any further Developments
| regarding the Lorillard purchase. The
American company has entered into pos
session of the Dominion works and, 1t is
said. finds the property fully up TO expec-
tations in point of earning capacity.
Rumors OF large gold exports produced
a decline OF 3-S in London, in st. Paul
Il L.. .ta lAr lat nra.lg
| will probably be about g, 600, ,000
Gold in the treasury, s104, 139, ,0S0.
The Judge reserved decision in the d..
| c. +. case.
Following are New York Central gross
earnings for a series of years: 1895,
s3,5l5, 1893; 1894, 50, 15S, 002; 1893, S3, s26,
23l; 1892, 50, 793, ,039; 1891, 70, 7l3, 43o.
Joseph says: "Buy r. 1. for keeps.
II Sugar or c. B. & O., recedes quickly,
buy either or both for another upward
| turn
The excess of expenditures by the Gov
ernment so far this month is s3, S35, 1851
since July /, sl3, 3l3, $50.
| Raw Sugar Is firm, and there Is better
demand for refined.
The share speculation In Wall Street is
listless, and in the main devoid OF
| features.
| WALL STREET, noon. 1.-The market has
been dull and generally steady during
the past hour, the only changes Of
moment being decline OF 1l2 in Pullman
and Cotton OIL preferred, and -, in Erie
| Telegraph. The speculation at this hour
continues quiet and steady. Sales to
noon, 10S, 800 shares, including $4,000
listed, and "a, 500 unlisted.
| ToDAY's STOCK BOARD.
WALL STREET, Aug. 7.-Speculation al
| the opening. was dull but steady. Slight
! sales of Sugar and Chicago Gas and
| Leather caused a recession of l2 per cent
each. General Electric was heavily pur
chased at the opening and improved lis
per cent. Values generally ranged lowe
| after 10:15, and current prices were * Il
| 13s per cent. lower than at the close last
night, Sugar leading the reaction.