The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-09

oeen settled. Representative Caminetti
VI California has . bill which will be
lassed upon by the public lands COM
mission at its next meeting, to forfeit all
he land unpatened when the companies
default in payment OF their bonds, to
withhold action on all applications for
patent and TO supend proceedings on APP
plications for patent in the case of COM
panies that are bankrupt or in the hands
Of receivers.
Suit Against Union Pacific.
COUNCIL BLUFFS, Iowa, Feb. 9.--In the
United States Court, Attorney Burke has
!iled bill OF complaint in the S27, ,229, 900
first mortgage foreclosure suit against
the Union Pacific Railway Co.,
the United States OF America
and large number OF persons
who have, or claim To have, an interest in
the property of the Union Pacific In Iowa.
+. Gordon Dexter and Oliver Ames, as
trustees for the holders OF the mortgage
bonds, s,appear as plaintiffs. This is supple
mentary to the recent litigation At 81.
Louis.
Kent a. Stanley Meeting.
There was a meeting OF the stock
holders Of the Kent x Stanley Company
at 3 o'clock this afternoon, at which
propositions were considered to con-
tinue the business. General Manager
Il. G. Huxley presided and the
outlook is considered very favorable.
Ex- Treasurer Kent, who has somew hat
recovered from his recent sickness, was
present and aided the experts in setting
forth the condition OF affairs. 1t Is
hat ha I'll "A
Globe banks are largely interested In the
affairs OF the concern and are disposed TO
continue their interest on the basis pro-
posed.
New York Market.
NEW YORK, Feb. g. The New York
stock market opened quiet and In a ma
jority Of shares trades in higher prices
recorded. Sugar, Manhattan, General
Electric, Burlington and Chicago Gas are
up u and Laclede Gas, preferred,
down..
Cotton futures opened steady; sales
$500 bales: February, 535; March, 5.48;
April, $50; May, 555; June, $50; July,
561; August, SOS; September, 5.71; Octo-
Der, 5.79; November, 5.S3; December, -.
Nethiy Dduh statcmeut.
WALL STREET, Feb. 9.-The weekly
bank statement shows the following
changes: Reserve increase, &, ,985, ,275;
loans decrease, $5,75S, 500; specie increase,
SOS, 400; legal tender increase, S6,746, 800;
deposits decrease, 1920, 500; circulation
increase, S133, 400. The banks now hold
$33, 1856, ,225 in excess of the requirement.
OF the % per cent. rule.
Today's Market.
Theodore w. Myers q Company of New
York telegraphed the following to X. p.
Sheldon Il Company, at the close OF today 3
market;
The market opened easier and declined
with heavy short selling of Changers by
Chicogo houses and New York operatives
with bearish proclivities. The loaning
rate for Monday showed an increased
short interest. The bears base their posi-
tion on the lower price for Government
Bonds and the snow blockade in the
West.
We think both are pretty weak argu-
ments. The traffic will resume and i'm
crease very much as soon as Congress
adjourns, and the fact that a majority of
Congress does not wish to commit itself
to gold redemption OF bonds, should not
be considered reason of distrust against
well managed railroads.
We think more than likely next week
will bring US recovery.
Providence Clearing House.
The clearings OF the Providence banks
today amounted to s6O6,600; for the week,
81, 4S1, 800.
New York Stock Quotations,