The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-11
FINANCIAL NEWS
Clearing III Financial Sit
uatiOn Abroad Expected.
London Shows Distinct Change
for Better Since Saturday.
Special to The News

NEW YORK, Nov. lit is thought
that this week will see a clearing OF the
financial situation abroad and witb'a ces-
alton OF selling for European account
there will come a substantial rally
throughout the general list. Latest adj
vices from the other side are by no means
as respondent as ''private cables to
Wall strSet offices would have this part of
the world believe. Ii is true that there
has been over-speculation IN Kaffir mines,
but no serious trouble is looked for, grow
ing out Of this initiation in values OF
South African properties for the reason
that shares have been distributed and In
500 cases out OF every 1000 they have been
bought outsight, completely absorbed
and stow wed safely in fecesses from which
they are not likely 10 emerge. The peo-
pie who have bought these properties
have simply replaced the money that
was kept Tor years in hidden holes with
the south African mining shares and
while the investors will not get any re-
turn for the good, precious yellow met
al they have parted with the world, TO a
very great extent, will be none the poorer
for the simple reason that this money
would not have come out under other
conditions.
There has been a distinct change since
Saturday in the markets abroad and the
recovery in most issues has been so pro-
nounced as TO encourage the hope that
the worst is now over and the settle
ments this week on the principal houses
will be- carried through without material
effect. The prospective gold ship ments,
however, will preclude any boom in our
markets temporarily.
ToDAY's STOCK BoARD.
WALL STREET, Nov. 11.-A strong and
active market characterized the begin
ming OF the weeks operations in stocks.
l.. d N. advanced 1 5-S per cent. to 523;,
and other leading shsres a fraction, with
the expectations most marked in the
railway group.
The purchasing movement came to a
halt soon after f0:i5 a m. The bear ele-
ment singled out Chicago Gas as a .vul-
nerable point of attack and depressed II
2 per cent. TO 334. The weakness of this
speciality was communicated TO the other
Industrial properties aud Sugar gave
way / SIS, General Electric LIZ, Tobacco
III, leather preferred !, and Distiliipg 7-S
per cent. The railway shares also sagged,
but the losses were ~unimportant. The
Changers and other prominent stocks
were in demand this noon and ruled at
the best figures OF the morning.
PARIS BoUsEs OFFER CONTRIBUTIONS
PARIS, Nov. 1.-THE Rappel this
morning says that the great financial
houses have decided to place at the dis
posai of the market from so, 900, 900 to
100, GOO. 900 francs in order to facilitate
settlement. The speech OF the Marquis OF
Salisbury delivered IN London OF Sat-
urday last has had u good effect here.
Baron DE Ro%thschild will preside today
at a conference of inanciers, the object
OF the meeting being to take concerted
o.tin, kv a torn. suhacrfr4 ion ~ canffat
In order to meet the necessities OF the
situation.
Baron De Rothschild and the minister
OF finance, NJ. Doumer. had n conference
this morning, and subsequently, the latter
received the governor OF the "Bsnk of
France and the Syndicate Of Agents de
Change"
GENERAL FINANCIAL NOTES.
London at las: 81. Paul, 74li; L. &
N, 52la; Canadian Pacific, 90 Is; At
Gibson, 10 3-S. This shows an advance
from Il to ] 3-S from Saturdays close.
London Copper: Spot, 10 5-S; futures,
"A; market steady and is higher.
Joseph says: "Lord ~Salisbury's speech
at the lord mayors banquet was just as
pacific as was foreshadowed. There will
be no European war, but this does not
mean that Turkey will not get il In the
neck. Heaven be praised that gold ship
hltAt1 INV WV must htI
up some fresh cause for alarm. We have
played Ksffirs, war in Europe, bank fail
ures md gold shipments for more than
they are WORTH"
II is currently reported that n sharp
cut in East-bound provision rates Is be-
ing made at 81. Louis and Chica go. The
c uts are made by fast freight lines.
The report that LaZard Freres would
ship 81, 500, 900 OF Wednesday is positively
denied by that firm.
Wheeling q Lake Erie earnings for the
first week of November increased s44i;
from July ] to Nov. Z, increase, s15, b3i.
London Is quite a buyer of stocks.
Tomorrow 81, 600, 900 gold will go, but
none OF the leading bankers expect to
ship. III Exchange rules strong. Cross
man q Brothers may ship none at the
end Of the week.
In London, consols for money opened
at 105 5-s, an advance OF Is; consols for