The Providence news. (Providence [R.I.]) 1891-1906, 1896-05-06
FINANCIAL NEWS


good deal Of talk OF how much ST. Paul
would be affected by the late seeding OF
spring wheat in the extreme Northwest.
st. Paul's milage in North Dakota is only
l1s miles, while 1t has llo1 miles in South
Dakota. Northern Pacific, Great North
ern and Canadian Pacific are the roads
most affected by the late seasons in the
northern wheat belt.
Traders sold stock on the gold ship
ments and as a rule did not take them
back thinking that the business In special
ties and the general dullness might lead
TO further decline.
There was only moderate offerings and
bulls thought an attempt to cover would
put the market up as much as the days
short selling carried 1T down. Buyings in
American Tobacco were considered about
equally good.
There was believed to be realizing in
st, Paul. Chicago, Burlington X Quincy
was helped by the large movement OF
corn. London was seller on balance,
Paul. Bay State Gas was sold on know
ledge that an agreement had been reached
between the conflicting interests. About
three quarters of the roads reporting earn
ings for the day showed increases.
The gold movement, while factor MS
TcIaIub bentllncnty IL HCt vi
portance on account OF the ample stock
of gold in the treasury. The bond mar
ket was very full, with Atchison issues
sha ce lower.
The Rock Island annual report will bo
reudy for delivery early next week The
fiscal year ends March 81 and during the
year the company earned not quite per
cent. on the stock and paid 2 per cent.
Ii added TO its surplus instead of draw
ing OH itsas in the preceding year. This
result was accomplished in year when
the winter wheat crop along the COM
pany's lines Jailed and there was very
little corn to haul from the poor crop OF
1894.
The 1895 crop has not yet begun 10
move in eny volume. Friends OF the COM
pany expect corn and wheat TO move to-
gerher next month, when earnings are
likely to be unprecedented. The kansss
wheat crop alone assures Rock lslapd an
enormous tonnage.
The. e.Liverpool Cotton report for today
is as follows: 1880 p. m. Fair business,
prices firm. Middlings 7-16. --sales esti-
mated at 12,00O bales. Futures opened
quiet. demand moderate. unchanged for
near months and 1-6i lower for. late
months.
12:45 p. m. Spot grades 1-s2 higher.
Joseph says: III London buys st.
Paul, Louisville X Nashville or Atchison
preferred do likewise. Hold Chicago Gas,
Sugar, or any little dip. Sell Western
Union on rallies Of one-h half per cent"
Senator Brice says that Pacific railroad
cannot be considered during this session.
Z. p. Huntington Is also said 20 have
given Ii up.
The sudden death of Colonel North. the
nitrate king, has exercised no effect upon
the market abroad.
Professionals are bearjsh and while the
market continufs Under their control
prices are not likely to move upward.
Trading under the circumstances for
quick profits OF l2 to "a would seem TO be
the proper thing.
The weekly crop report makes most
satisfactory showing. Wheat is doing
well. heavy rains have fallen at most
western points. Cotton is doing fairly
we'll in southeastern portions OF Texas,
but more rain is needed in the northwest-
ern section.
Providence is'to buv back the rubber
that was sold on Monday from 27 down.
The Rubber crowd Is ready to support the
stock around %,
i ToDAY's STOCK BOARD.
WALL STREET, 1913 n. m.--Tne stock
market opened dull and lower, with in
dustrials displaying the greatest compara-
tive weakness Rubber and Bay State Gas
reccded IL. per cent, and Sugar and To-
bacco lost sharp fractions. The railway
list was without special feature.
PROVIDENCE CLEARING HOUSE.
The clearings of the Providence banks
today amounted TO ssa2, 400.