The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-27
IN THE
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s* financial World.

The market has d ono very little today
except to seesaw within narrow range
of prices. Although the market opened
up it Immediately started to run OF, and
lis subsequent rally was followed by an
other slight decline. Neither course was
suffici emily strong, however, to inspire
much speculation. In London the feel
ing was bLllish on easy money and an
unchanged bank rate. There was some
buying of St. Paul and Louisville d
Nashville, but the range OF prices was
narrow, as speculation on that side Is
now depending almost entirely upon
New York.
The bulls today are basing their argu-
ments on the fac Z that they have recsiv-
ej, as they claim, inside information that
Cleveland has decided TO do not hing in
regard To the Cuban question duriug his
term OF once, and their anticipations OF
another beautiful bank statement TO-
morrow, which they believe will show
heavy gain In cash loans and deposits.
The railroad reports OF earnings fer the
third week OF Novem Der are also rather
more encouraging. IL Is true that Mis-
souri, Pact fic shows a decrease OF S2l.-
000 and nj. * st. l.. decrease of $1,000,
but Ontario IL Western increases 5000;
Louisville, $3.50, and &. Il o., 5000. As
last weeks reports showed a decrease all
along the line, this 10 somewhat better.
Ii Is stated today that the l.. * N.
directors are very much encouraged by
their recent examipation into the condi-
tion OF the property, and they believe
that they will soon DO able to resume the
payment OF dividends
In spite Of the general bearish feeling
among the traders Bache a. Go. and
Joseph still remain bullish. Joseph be-
lieves that the rally Is not far of, and
Bache says TO-DAY: fhe big operators
seem to be arranging to take concerted
action on he long side. There is quite
fsir general outstanding snort interest.
Inc Morgan following are again prepnr'
e TO go abroad, not only with Northern
Pacitc issues, nut with Souhern Railway
preferred and Erie.
Ibe fact that the new Consolidated Gas
deal has struck q snsg has developed
more of a bearish feeling In regard TO gas
securitie', but the bulls are quite conh-
dent that everything Will come to settle
ment in the near future.
Despite oil the bullish gossip In regard
TO Reading the stock broke this morning.
For two weeks ii has rename firm at
30 but TODAY IL went TO 2sli In the first
hour. While this may be break by the
manipulatofs for the purpose OF gather.
ing In the stock of timid traders the
general opinio Is that II now shows
weakness that makes IL undesirable as
purchase. Dick Brothers & Co., OF
fhiladelubis, sdyise their customers TO
purchase 1t ana predict big rise.
II is also stated that the drop in
leather securities was entirely due TO dis
appointment in regard TO the dividend
and that the stock is all right but traders
sill seem TO be doubtful about IL. .--
Americans closed neavy in London, and
this WAS felt on this sioe. There is
tendency to hesitate among the traders,
owing 10 the Presidents attitude towar1
Cuba. There has been g certain amount
nf 4 a m a
Is dull.
The noon letter TO Weeden, Kendall &
Co., was chiefly to the effect that the
market nt that time was in such condi-
tion that any intelligent attempt NJ MAX
ing forecast was impossible. All day II
had been governed by professionalism
and Londons' trading on both sides OF
the account had bad effect. The chief
feature of the market was the break in
Reading, which followed heavy selling.
The Changers bnve been heavy in expecia-
lion OF poor monthly statement for
October, and Sugar has been quiet but
firm. southern Railway 's decline was
due 10 fears that rate cutting in that
section was 10 be renewed.
MONEY! on call IL New York was easy
at 2(d2io per cent. Pfime mercantile
paper 46pj per cent. Sterling exchange
firm with actual business in bankers bits
at 4s6i2S@ for demend and 4sala ala
Commercial bills 1852. Silver certihcstes,
sales $4,000 at 65I,. Bar silver G5 is. Mexi-
can dollars 80 5-s; Government bonds
strong.
Clearings, sI33, So, ,O31 balances, ss,l2s.-
2SS; suh-trtasury debit bRiance today,
S577. .267; gold balance, Si2S &7l, 5S3.
Cotton futures opened quiet and firm.
Sales 5000 bales. Jeu., 7.69, Feb, 7.66;
March. 7.73; May. 7.s2; June, ZS6; July,
7.s7 bi q; Aug. 7.7l; Dec, 7.51.
The market closed somewhat inactive
bnt inclined to higher prices. Omaha,
on several longer buying orders advanced
from "a to asa and retained its strength
TO the close. This was the feature Of
the last hours.
HOW PRICES RANGED IN NEW YORK.
NRw YORK, 1910 a. m-The renewal of
trading in the stock exchange after the
holiday was marked by an easier tone in
stocks, but the concessions were trivial.
lbe selling movement became quite
pronounced after 1l:l5, with the special
Hes i4e-eAief f>eitfts of nttHck. fne urT=-
favora ble London prices encouraging bear
aggression. The commission houses