The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-17
FINANCIAL NE WS.
Stated Yesterday That Con-
siderable Gold Will Go.
Stock Market In General Is Narrow
and Professional.
Special to The News.

| NEW YORK, Oct. IA prominent
house wired to Chicago yesterday that
VI, 500, 900 gold would probably he export
short selling in tie market.
Special stress is laid in the leather trade
on the shutting down of boot and shoe
manufacturers, who have evidently de-
| termined that they can do no business
| so long as the prices OF leather are so
| high. The fact that there can be no profit
| in sales of Union sole leather at 80 cents
Is making some holders of leather stock
convert II into cash.
OF the stock market in general il may
simply be said that it remains so narrow
and professional that fluctuations may
hardly be regarded as significant of any
large financial movements. The good feel
ing OF Tuesday was dissipated yesterday,
but at the same time prices declined slow
iy, while the day before they advanced
rapidly. There is no reason to believe
that handsome gains in earnings will
not be shown by the Northwest Septem-
Der gross statement, or the st. Paul and
the Quincy net statements. Ii is also
certain that the pending railroad reor-
ganization projects will have sustaining
influence in general. Unfortunately, how
ever, the financial question is again at
tracing attention, and it must be recog-
nized, when the present level of stock ex-
change values is regarded that specula-
tion has exhausted most OF the effect OF
good news, and has made little allowance
for possible incidents detrimental in their
nature.
ToDAY's STOCK BOARD.
WALL STREET, Oct. IL. 'rhe stock mar
ext opened dull and irregular. Share
values were shade higher all around
with the Grsngers most in demand. The
tendency upward was stemmed soon after
1918 and on free selling Sugar and
Leather preferred reacted 1is per cent.
Chicago Gas and Northwest rs per cent.
The raid was induced by an advance in
the posted rates OF exchange to 4ssla and
4S9la
GENERAL FINANCIAL NOTES.
Joseph says: eff earnings count for
anything, st. Paul should do very much
better The increase for the second week
OF October exceeds all expectations. The
gain of s199, 1OS is simply immense. In
The long run it will pay handsomely to
be long Of all the Changers. 1t is doubtful
whether gold Will go out this week.
Watch Cotton; exports OF gold are con-
tingent on this market. The bears will
probabl make another drive against Gas
just for q turn"
London 10 weak st. Paul Is lower, and
the rest of the list IA lower
Treasury gold this morning, 500, 100, 253.
The meeting of Tennessee Coal and
Iron takes place today, to act on the
question of paying accrued dividends on
preferred stock.
A Coluin bus, o., special says that ore
men and vessel men cannot agree on
prices. Cleveland ore men refuse to pay
81. % PR ton.
Bar silver is is lower.
Freight agents OF Western roads cannot
agree to advance rates on wire and nails
November ].
Excess expenditures Of the Government |
10 far this month, slo 167, 466; since July
I, $40, o52, 124.
The Stock Exchange listed 90, 765, 800 |
Central Trust Gas receipts. The commit |
tee controls s15, 256, 800 out of s25, 900, ,OOO |
Trust receipts
The dental by Depew that the Wander.
bilts will have anything to do with the |
ization OF the Union Pacific is
considered simply Q technical evasion.
The Wool Trade.
The American Wool and Cotton Reporter
.ays of the wool trade:
The market has strengt thened the past week,
Without, on the whole. showing signs Of much
Increase in activity. New York's principal
business has been In foreign WOOL while in
3oston there has been notable falling of in
sles of this class OF stock as compared with
he previous week.
The fenture OF the market which commands
most attention Is, of course. to be- found IN
no fact that the American market Is cousid. |
rably below the European. Sales in New
fork, Boston ana Philadelphia for the week
aggregate ao62, 500 pounds, G,03p5 800 being
omcstio and 3.93,OoO foreign Territory
yools have attracted good share OF attcn.
ion. Fleeces have also shared we'll in the
weeks business.
NEW YORK.
Foreign woods have sold well, but domestic
annot boast OF much activity, sales being
mall ana featureless. There has been n note.
worthy increase i'm the inquiry for fine and
Inc medium territories, and several large
OTIS are said To be under consideration with n
that sales will be contaminated
efore this report Is read. Territor; WOOL.