The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-27
FINANCIAL NEWS
The London Market Is Again
Reported Weak.
Tomorrow's Foreign Gold Shipment Ru-
mored to Be About $4,o0O,O00.
Special 10 The News

are bargains innumerable upon the Wall
street counters and between this and the
second week In January there cannot fail
TO be further rise OF from 2 10 10 per
cent. There is unmistakably better
feeling upon all of the Changers and II ad-
vantage be taken OF recessions, however
slight, large profits are designed to be
made between this and early spring.
The net earnings of st. Paul are almost
rs phenomenal as are the gains that are
being recorded week by week. The
Standard Oil people have been steady
buyers bot il can be stated upon unques-
toned authority that the Vanderbilts
themselves own more st. Paul stock than
has ever been held In their history.
From this on Rock Island will render
an excellent account OF itself, and the
earnings for the fiscal year, based upon
low calculations, will show an increase
equal 10 3 per cent. at least, upon the
stock. The directors believe that by next
March, when st. Paul shall have enter
ed the per cent. dividend paying
ranks, the Rock Island will be ready to
return a like amount to its stockholders.
For two years past enormous sums OF
money have been spent upon the ROAD
bed and the equipment is in sufficiently
good shspe TO handle the increased busi-
ness now offering and which promises
TO overshadow everything in the previous
history OF the road.
A special from London states that the
market for Americans is laboring under
the influence OF weak declines 10 the ex-
tent OF Ia below our closiesg prices led by
st. Paul and Louisville & Nashville. The
further agitation and the passing OF the
tariff bill through the House by such an
overwhelming majority has caused the
rush to sell.
Joseph says the market today will
probably be feverish and unsettled. He
also states that the Gould people are bull
ing Western Union and Man nhattan stocks.
The Industrial shares rule strong and
the Havemeyers have been steady buyers
of Sugar on.a limited scale. There will be
no adverse tariff legislation at Washing
ton and the Sugar company has nothing
TO fear in this respect as there is q strong
interest OF no inconsideratl size in Sugar.
Prominent arbitrage brokers believe
that quite an extensive shCrt interest ex-
lists in London in American securities
and II would be practically easy TO cause
stampede among the bears in every
thing from lllInios Central to Reading.
The Venezuela war scare together with
the report that the United States was
about to go on silver basis caused a re-
markable revulsion OF feeling lin Europe,
which was signaled by a tremendous
rush TO sell American securities, while
jobbers and operators ignored the fact
that they did not have these for delivery.
With the close of the Christmas holi-
days, a more hopeful view Is likely to
prevail abroad especially as the war scare
IL dying away and is icing regarded as q
political move.
Though the tariff bill has gone through
the House 1t Is rumored that the Senate
will not act favorably upon IL, hence the
talk Is still for an early bond issue and
the varying details OF this negotiation
has a tendency 10 give the market
feverish turn. The Saturday shipment
of gold is rumored al bout four millions but
this cannot be ratified as some OF the
firms are as yet unable to state their in
tentions. l.. Van Hoffman & Company
Will shin hplf million.
The Commercial Bulletin says: Private
ca bles were received here yesterday stat
ing that the German Federal Council has
prepared for the Reichstag a proposition
to increase the bounty on German Sugar
to double the present rate. This is bear
ish on sugar and the market Will un-
douhtediy=he- #Rd-sabjeot so
sharp fluctuations.
From London at p. m. comes the fol-
lowing: The market is no better and
the weakness in Americans is in the pass
age of the new revenue bill which has
excited upfavorable comment. Fears are
expressed that il will hurt trade. Money
Is moderately firm, and discounts at Ia.
.i,, na., "ou, ,"P a. ,sa. %ero
M bnt the Americans ore yery veal
Ara N, m. Iondon news is to the effect
that business in Americans is suspended
pending an issue in bonds and If this Is
made large buying oroers VIII be put In.
.xx,.r wooI. REVIEW
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