The Providence news. (Providence [R.I.]) 1891-1906, 1896-06-08
The Stock Market Opened
Easier This Morning.
End of the Present StagnatiOn
in Stocks Is at Hand.
.0nd0n Prices Are Just at Our
Parity With Little Doing.

NEW YORK, June S.--A recent report
Pf the United States Consul at Mate-
norss, Mexico, states that Beet Sugar is
bow being shipped from France and Ger
many TO that place and solo at lower
prices than American sugar. The Consul
thought the Sugar refiners of tho United
States should control the market In
Mexico, but sugar men here state that In
view of the fact that European sugar is
now imported here in competition with
cur own market II was hardly to be ex-
pected that we could undersell the foreign
article in outside markets.
Councilman IL Day report OF the Chi
cago market: Cudahy led in the buying
Saturday. The commission houses sold
long wheat largely and covered short
wheat later in the day. All the old time
bulls are back in the market again. The
country trade is beginning to revive. On
n basis Of 60 for conditions in Kansas, the
yield would be IA bushels per acre, or a
crop of $4,000, 900 bushels on an esti-
mated acreage of 3lo millions The
Michigan crop report will be out today. "
The New York Journal says Mr.. Rookie
feiler expects TO put up the largest blast
furnace and Bessemer steel works in the
world.
Dispatches from Austria and Huugaria
state that the amount paid in sugar
bounties may be increased from five to
nine million forms per annum, and il is
proposed to increase the internal sugar
tax from IL TO IL forms per hundred
Kilograms.
The report of the Liverpool Cotton
market for today is as follows: 1890
+. III. Sales, 10000 bales; Middlings, a;
Futures quiet; near months lower, ana
distant months 3i2 lower.
Joseph says: ''The end of the pres
ent stagnation is i'm sight and few days
OF real activity seems almost assured.
Congress will adjourn this week. The st.
Louis convention VIII take place mex.
week and Improvement in general bust
ness must follow. Sugar, it is said, Will
sell at 130 within ten days"
London prices are just at our parity
with little doing. Consols are off rs.
On Monday last sugar opened at at 113
b-S and dealings for>he week footed up
mad full share of q. per bag in raws,
which necessitated here three reductions
In refined sugars. Everybody was ad-
vised to sell Sugar willis Keene, Conpor
and Well were bearish, but the stock
was seemingly supported. Had the tai
ent been builish and the Havemeyers
bearish nothing under existing circum-
stances could LsSe prevented Sugar fall
ling as it used to i'm times past. The in
fuence is plain, the Havemeyers are not
yet ready for any prominent bear cam
paign in their stock.
Thomas'ssJ report saws the returns to
date indicate = further deterioration In
the condition of winter wheat. The
present average for the whole breadth is
7i5 against So. or decline of nearly
six per cent. for the month. On June
last year the condition was 1872 per
cent. The prospective total winter wheat
harvest based upon returns in bushels
per acre indicated yield Of 2s3, 600, 600 as
contrssted with 30s, 600, 900 on May /, and
go. 900, 600 IN 1876.
Inman looks for quiet cotton market,
but he is not bearish. He favors buying
on the theory that summer months are
oversold.
PRovIDENcE CLEARING HOUSE.
The clearings of the Providence banks
today amounted TO s7s3, POO.