The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-15
FINANCIAL NEWS
The Stock Market Opened
Lower This Morning.
An Increased Amount Of Activity Reported
In the Leather Market.
special 10 The News

NEW YORK, Feb. 15.-The Genera
Electric people have' been very hopeful
that their patents for the over head troll
ley would be sustained, but previous ex-
periences with patent litigation has been
such that there was doubt. The trolley
caes have, however, been decided over
whelmingly in favor Of General Electric
and today the first steps to enjoin rival
manufacturers of the trolley arm wire
will be taken in New Haven. The text
of the decisions OF the lower court of APP
peals have been received and both are
sweepingly in favor of General Electric.
IL practically gives to this company a
monopoly of the trolley system and Its
value cannot be easily estimated. One
effect OF the decision Is expected to be a
decided willingness on the part of GER
tain opposition interests TO go into a trade
agreement by which the profits on cleo
trical supplies can be made reasonably
large. General Electric people consider
this decision much more important that
even their ncandescent lamp victory and
anticipate very large profits from the
manufacturer of trolley apparatus.
A special from Boston states that there
is a continuation OF the Increased activity
In Leather. The only drawback appears
to bs the tightness of money, which
necessarily restricts speculations. The
10 cret of the activity in Leather is that
shoe manufacturers have been running
large orders for shoes and there appears
to be a general resumption of work at the
factories. Prices are being held firm, al
though 1t is reported that the u. $. is
making sales of Union at 250al2. The hide
market is destined to Cause a rapid adj
vance in prices.
When the market closed Thursday night
the sugar crowd seemed full of orders to
ell - aAA2l~ TO-. q r y A. 500 ~
terday morning all these orders were
withdrawn and very little stock was in
sight. People who ought to know say that
tho Havemeyer interests bought the stock
up to i O'Clock and then seemed to stop,
leaving the traders in control. They
sold on a report that senator White intro
duced a bill attacking the sugar company,
but it is pointed out that the tariff legis-
lation has apparently been blocked tor
this session and certainly nothing affect
ing individual interests stands any chance
of becoming a law in the present temper
of both houses.
A Chicago special says: The Rock
Island officials say there has been some
Improvement in earnings lately. although
the change is not as yet very pronounced.
They think, however, the tendency to-
ward improvement is likely to continue.
The early strength of the Industrials APP
Feared to be the continuation of Thurs
Wy = pOfAI, "iAth tiuOtlo tiJtd "
sell; however, the market was found mar
row and price went of easily.
Rumor in regard TO prices of Govern
men is has an influence, eltohugh they
were exaggerated, and there was probably
no time during the day when 1l5 rs could
not nave been obtained for ordinary lots.
1t was thought that the block of bonds
which has been on the market for a dav
or two would probably be placed during
afternoon and that advance in govern
menss would be followed by an advance in
stock.
The Liverpool Cotton report for today
is as follows: 12:30 p. m, Middlings at
4 1872; Futures, j to 1lo lower. Estimate
number OF bales sold amount to 1000.
The port receipts aggregate 16, 000
against 5000 a year ago.
Mining Stock.
The following are the closing bid prices
of the listed stocks on the Colorado Min
ing Stock Exchange. Denver, Feb. IA, as
reported by Il. L. Davis Il Company, 244
Washington street, Boston.