The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-04
FINANCIAL NEWS
The Stock Market Opened
Dull and Lower.
COnsOls Are Reported at the Highest
Quotation on Record.

rDeCioi w '"Ws
NEW YORK, Feb. 4.-Most of the &C.
| tive operators are bullish on the Granger
stocks and though some of them have
realized a profit Of from -four to five points
during the past week on, st. Paul they
have bought most of it back on the reac-
tion from top prices.
The advance OF three cents In corn is
expected to stimulate the movement OF
the staple and il wheat continues its up
ward course corn Is almost certain to fol-
low. Then the farmers would sell. Some
of the cribbed corn along the railroad
lines is understood to be owned by capital
lists who took advantage OF the low farm
prices in a belief that corn would have
to sell up some this spring.
TIL Leather trade Is still waiting upon
| Wall street. The only change for the week
has been a slight diminution in the de-
mand. Prices are as firm as ever, and
while tanners are ready to book all con
tracts offered for spot and near delivery
at current figures they do not talk conces-
sion. They recognize that the demand Is
accommodating and they do not desire To
secure obligations to be discharged when
it becomes heavy. Most OF the tanneries
started up last week were those operating
upon special grades of leather in which
Twill llO btok hio u INV
and of which there is the smallest supply.
The tanner has to figure six months
ahead on his supply n this involves
the carrying of q fair-sized stock OF the
various grades.
The announcement yesterday that the
distillers combined and agreed to hole
back one quarter of the February product
was a favorable rather than an unfavor
able development. The product of the dis
t~illeries is expected To be made in eight
months of the year. AS sales continue II
months ii Is necessary to make more
goods during the winter and spring thar
are sold. The distillers have intended tC
hold back from 80 to SO per cent. of the
output. Sales, however, have been larger
than was expected, SO hat representatives
of the distillers decided that they could
sell fully rs per cent Of the February
output leaving only Is per cent. instead
of 80 per cent. for the future.
held back had g good effect in stimula
ting orders. The decline in ID. c. Il. ap
peared to be on general realizing by
tired holders.
A London special says: Wheat and corr
of the coast are doing nothing. On pas
sage wheat is rather trmer than corn,
Liverpool wheat and corn firm. Wheat
futures steady and quoted at I'D. higher
:. s. cache q Company say Consol'
1881, the highest quotation on re
cord. These pay 2ia per cent. interest a,
rar while are bonds will probably be Is
sued en- a 3l2 per cent. basis. American
are from Is to la lower despite the splen
did showing made by ST. Paul in Its earn
ings for the last week OF January, show
ing a net increase of s16S, $50.
Raw Sugars are from fine to strong des
pite the o~ffishness of rehners and reduc
tion in refined. Refined was dropped
lie to affect raws.
The Denver q Rio Grande's net in
crease in its fourth week of January earn
ings amounts to 81, 200.
The present selling Of Missouri Pacific
indicates that the long stock Is being
marketed at every opportunity. There /.
no definite news, but the annual report
will maxi its appearance In a few day.
and II one Is to Judge by the showing
Rock Island. Then Missouri Pacific hai
had a very hard row TO travel although
its future seems relatively brighter.
The Liverpool Cotton report for today
is as follow: 1890 p. m. Demand mod
crate; conditions unchanged; middling,
4 1892; estimate number OF bales sole
5000; futures opened easy, demand moder
ate 1 to liz lower. market quiet anC
steady.
2 p. M. One point decline from yester
day; market steady.
The decrease i'm the earnings OF tn,
Wheeling Il lake Erie Railroad for thu
fourth week I'm January amounts to $4,000,
though the net increase for the month ag
gregates $4,000.
A great deal of interest still centers In
the bond question about the success oil
which there are the most conflicting ru
mors. Stocks should be handled light,
until the result Is known, although thu
weakness OF Steling Is a favorable element
The stock rHarket opened dull anc
lower, being adversely influenced by TIT
receipt OF lower quotations, from Lon
don. The recessions were unimportant
The market Is now steady In tone.
The refusal Of the House to concur II
the Senate resolution on free silver wa
reflected i'm a moderate Improvement In
share values through the fists. Leather
preferred was exceptionally strong, ris
ing to 81 rs against 623. yesterdays fina
sale, on fattering reports of trade con
ditions.
Missouri Paoidc continued active ant
moved ~irregularly, but is now up I,
70 3-S.
CRIPPLE CREEK AND COLORADO STOCKS
The following are the closing bid price,
Of the listed stocks on the Colorado hin
ing Stock Exchange, Denver, Feb. 3, n
reported by Il. T.. Davis n Company, "a
Washington street, Boston.
49,. asK Iusfic. mai