The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-11
FINANCIAL NEWS
The Stock Market Opened
Irregular This Morning.
$4,000, 900 of Gold Has Been Withdrawn
From Treasury 10 Pay for Bonds.
Special 70 The News.

NEW YORK, Feb. 1.-The advance In
Manhattan yesterday intensified the re-
ports regarding a lease by the Metropoli-
tan Traction people, but did not develop
any new facts. A director in Manhattan
| said last night: cit is notorious that a firm
of brokers has been making inquiries and
suggestions in regard to the purchase OF
a large block of Manhattan for some
time. her anything viii come OF the
matter remains to be seen. 1t Is certainly
not in shape for any immediate action
and its importance lies chiefly in the fact
that it shows an appreciation of the value
Of the property NY people who are not
identified with it.
Yesterdays reaction did particularly
shake bull confidence. 1t was due to the
very large settings of Moore x schley.
They were estimated to nave sold 80, 900
shares of various stocks, particularly
sugar, i'm about an hour and a half. This
selling, of course, brought other realizing.
TIL wonder Yves that the market did not
decline more, and the fact that there were
substantial rallies in a good many cases,
gave quite a confident feeling at the close.
There was large realizing in Leather.
The moves in Manhattan and Tobacco
were called covering, although they did
not seem to meet the whole case in Man
haitian. The advance brought lease ru.
mors into prominence. ct. Paul was
thought to have acted exceedingly well,
and there were bull points on the grang-
ers. London was a buyer at the close,
evidently anticipating higher prices
abroad.
The query in Sugar was whether the
three point slump was the result of realiz-
ing or was a scoop intended TO shake out
an unwieldy following. Both theories
found advocates.
III f.4. NEoN -. l.. -. Tee a -x~,oa-
ed on the announcement Of a bill in the
Senate &c repeal the Sugar diferential de-
veloped a theory of Washington selling,
but few people were found who attached
importance TO the resolution. IL was
thought much more likely to have been
introduced for a speculative purpose. The
advance in Sugar j~ustihes reaction, but II
there is al extra dividend next month,
the ordinary rule will be suspended on
its account 1t is certain that insiders,
in a number of cases, have aot sold their
Sugar and have asserted that the stock
was having one of its big moves and
would not be a sale for more than short
terms for 80 days.
J. S. Bache & Company say: "The
London market at 1:30 p. M, was heavy
with the stocks from 1-6 to IL a point
lower, st. Paul being the weakest.
The increase of s1U0, QUO in st. Paul for
the first week of February is up TO expec-
tat ons. The Withdrawals of gold yester-
day amounted to s2, 3Is, eco, wnicn brings
the Treasury reserve fund down to s42,-
COS, 600. not figuring the deposits made
since Jan. 5. The Withdrawals OF gold to
pay for bonds has amounted TO nearly
si3, eco, 001 This shows the way the wind
blows and INDICATES tbet the net gain TO
the treasury will make q poor showing
when all Payments have been made.
A decrease of $1,000 is reported In the
earnings OF The Texas tacihc for the brst
IN 10 EDnENy
The Liverpool Cotton report FOR to-
day Is IS follows:
1880 p. m. -Middlir gs, 4 Gle The esti-
mated number of bales sold amounted to
5000. Futures opened 'asy with a poor
demand and were quoted two points
The port receipts aggregate 1000 bales
against 4 200 a year ago.
The increase in the earnings of the
Wheeling and Lake Erie for the urst week
in February amounts TO $1,000.
The Canadian Pacific reports an in
creasc In its earRiDgs for the first week il
February of Si22. 600.
Denver d Rio Grsnde in the same period
reports a decrease Of 5000.
Apropos TO the Canadian Pacific a divi-
dend OF TWO per cent in its pref rred and
one and one half per cent. on the COM
MOI stock will be declared in April l.
The initial stock prices were irr gular,
but mainly lower on brisk trading. The
only important concessions, however,
were in sugar and Tobacco. which were
sold freely aud yielded J 3-s@l 1-2 per
cent, respectively. The market now ois-
plays. an improving tendency.
A NEW CORPORATION.
The Atlantic Ocean Power Propeller Co.
was organized in this city today with l..
A. Tillinghsst president; ". II. WorrGll,
treasurer, and Burton VI. Lowell, secrv-
tary.
CRIPPLE r N COLORADO srocKs.
The follow ing are the closing bid prices
Of the listed stocks on the Colorado Min
ing stock Exchange. Denver, Feb. s, as
reported by T.. e.. Davis 4 Company, 2ii
Washington street, Boston.
Alamo ........... -. dusuce............ os
Anaconda ......... 90 keystone. ........ e.
Aofa O3s. Lincoln Bov ogL