The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-15
FINANCIAL NEWS
Stock Market Opened Quiet
This Morning,
The London Market Is Buoyant at an
Advance
epeoial TO The Nsws.

NEW YORK, Jan. 15.-The Gould stocks
have not had any recovery to speak of,
and considering the vast Improvement that
is likely to take place in general business
this spring there is every reason why
recognized paying shares should sell on
a basis more commensurate thsn their
values.
The earnings OF Manhattan are increas-
ing most especially over the returns for
the corresponding period last year. The
company has something like 1900, 900
in its profit and loss account, which
represents tine actual cash paid out OF
the previous net earnings to damaged
property holders along the line OF it's
road. II will be a question of only a
short time when the sum will be cspi-
tslized and the stockholders derive the
benefit thereof.
The short interest in stock Is not only
being kept alive hut 1t is being profes-
siopaliy nursed-thRt Ia to say, the few
shrewd men that are in Wall street for
the moment reorganize that many opera
tors prefer bucking the short side to get
ting on the long. 1t is conceded by all
that know anything about the railroads
of the country, that, physically, st. PeD.
is In excellent condition and that at no
time during the panics did it suffer more
than the other roads. Ii did relatively
better than Rock island. 1t will thus be
seen that selling but 9 per cent. above the
panic prices, st. Paul is firmly establish
ed and is in condition to score a su bstan-
tial advance. The friends of Rock Island
have not parted with a share of their
speculative investment lines that were
taken on q few weeks back and they look
for their stock to reach so before the end
of March.
A London cable states that the market
is buoyant at an advance extending to 5S
per cent, Illinois Central leading. There
IS conticent buying IN the theory that
the monetary difficulty in the United
States will adjust itself.
The strength OF the Industrials, Sugar
and Tobacco particularly, causes belief
that these will reach higher range before
the close OF the week. The pressur that
has been put upon few stocks, such as
Manhattan, Western Union, Sugar and
United States Leather, has not met with
that responsive selling that was locked
for by the manipulators.
Current report has II that there Is but
little doubt but that the insiders Of
Leather have been picking up their stocks.
The action upon the dividend, or rather
the non-sction upon the dividend, is not
especially significant, because 1t is. known
that when the board meets in regular
course 1t will declare the two per cent.
dividend upon the preferred.
The decrease in the earnings of the e.
Z. {. 81. Louis railroad for the first week
In January amounts to $4,000.
The Liverpool Cotton report for today
is as follows: 2:30 p. m. Futures opened
steady; demand fair, unchanged prices,
has since lost from to ll2 points and is
now quiet at decline. The estimate sale
amounts to 10, 600 bales. middlings at
d 9-i6.
2p. IN. The market is dull with un-
changed conditions. The port receipts
amount to IL, 600 against 20, 600 year ago.
London at p. m. The market very
strong, st. Paul and Louisville q Nash
vile up l9 and the rest Il. Discount 1as;
Consols are buoyant, 1o74, the highest
ever reached.
The prominent trust companies that
have been maturing time loans express
their willingness to let these loans con-
tinue on call for few days longer, but
cannot renew for period OF time until
after Feb. Z. Thus it will be seen between
this and the result of the pond issue be-
ing known the market is likely to be
spssmodically active and unmistakably
feverish. Berlin money is quoted at
per cent. Paris discount at 1Ss.
Raw Sugar is dull. The market is
slightly easier, owing TO the persistent
refusal OF the refiners to buy. Refined
Sugars are also very dull and are prac;i-
eally featureless.
London Copper lie ss follows: spotsi1lt (;
Futures, il5s. r.
The market is active and conditions
are unchanged.
Market opened quiet and a small frac-
tion higher generally. Tennessee Coal
WAS in fair request and improved rs per
cent. The trading IL little more ami
mated and lower at this time.
New York stock Quotations.
sii.hslD sr MILLS . VAUGHAN
= 2 Z :