The Providence news. (Providence [R.I.]) 1891-1906, 1896-06-26
The Stock Market Opened
Higher Today.
100000 Worth of Gold Will
be Exported tomorrow.
Sugar Will Probably 60 Lower Be-
fore InSider Mark is up.

NEW YoRg, June 26.-Connor has sold
his Western Union and 3. V. White
frankly admits that he let 60 his line be-
cause the stagnation in general business
has seriously affected the earning capacity
OF the Western Union Company.
Keene il bulling the coalers and says
Delaware and Hudson will sell above l35.
The Reading statement is not tiattering
one. The May report is $40, $40 behind.
while tho deficit for the currency year 10
date is IL, 100, ,467, an increase loss OF
s499, ,632 over corresponding period year
ago. The future, however, owing TO bet
ter trade traditions, IS comparatively
bright. Traders Will sell Reading IL they
get any encouragement from the for
eigners.
director Of Tobacco is authority for
the statement that cash dividend Will
be paid, and will be declared next week.
1t is believed the stock will do 10 buy
around these figures. The short interest
In the market is much larger, and there
is a good smand for stocks generally.
The Democratic State Conventions are
ali held and show majority OF 26o for
for tree silver.
The cables from London are better, the
market is stronger and the prize is ABOUT
l. better on ST. Paul and Louisville &
Nashville u TO 5-S higher.
Our market for railroad stocks will be
better.
Sugar is all right They will probably
put Ii lower. Ihe bears say Ii will go to
100. 1t should be bought, however, on
big reactions. 1t is already down 10
points in a week for no reason, and 1t
will go up just as fast when the insiders
get ready to make IT. The market Is a
waiting one, and the big traders are dis
inclined to take position until after the
Chicago convention. Ii Is understood
that Mr.. Havemeyer Is preparing state
ment which will do much TO reassure the
holders OF Sugar stocks. The corrected
report of Western Union shows the net
returns for the second quarter will fall
short of the dividend requirements by
Sl50, 900 at least.
Councilman and Day report the Chicago
wheat market as follows: "TheIe ~
nothing received from the winter wheat
sections except that farmers are slow in
liquidation, and the volume of trade
light. Some sections of the Northwest
complain of damage from RED rust.
The report of the Liverpool cotton
market today Is as follows:
1890 p. m.-Demand fair and marke
steady; sales estimated, 200 bales, Mid
dlngs. rs; Futures opened quiet un-
der a moderate demand, u point ad-
vance on near months and late months
unchanged to one point advance. Mar
ket quiet. Sales OF the week, 6c.0O0 bales.
12:i5 p. m.-Spot grades, 3 1-32 higher.
2p. m.-Middlings, 3 1892; sales, TO-.
COO bales. Near months, 1-2 up from
yesterday. Late months, point up.
Market quiet.
Joseph says: "Tbe liquidation In
Sugar is over for the time being, but 1t
will be feverish ana is puy only on
quick recessious. Theodore Havemeyer
and John Fearles have not parted with
any stock. Perhaps il would have been
better IL they had sold, then they would
be able to give considerable support to the
market.
"A drive is threatened against Later
preferred, stop orders at 5S are to be
guuned for. Buy Jersey Central on
point dip. Sell Louisville & Nashville on
rallies just for q point turn"
Eeidelbach, Eckclermier IL Co., will
ship S200, 600 gold tomorrow.
Receiver Cowen of the Baltimore &
Ohio announces that the company
will default on the first preferred divi-
dend on July ]. Holders will ask the
courts TO compsl the payment.