The Providence news. (Providence [R.I.]) 1891-1906, 1896-03-25
FINANCIAL NEWS
Stock Market Opened IT.
regular This Morning.
Anthracite Coal Trade Re-
ported to Be Very Poor.
Half of the Active Stocks Had a
Normal Decline.


NEW YORK, March 25.-Yesterday's
market afforded a very fair opportunity
for trading. The Washington selling dur
ing the forenoon enabled Mr.. Cammack's
brokers to buy some cheap stock, later
Washington houses bought with some
freedom. Careful inquiry in Washing
ton as to the cause of the early selling
brought no explanation beyond suppo-
sition that certain Congressman were In
terested in a turn in the market. The
Csmmack covering was alleged to be prin-
cipally on the idea that the market was
narrow and 1T was we'll to take profts
while they were In sight. Ii was believed
that this stock would be sold again be-
fore long.
Traders sold in the afternoon, believing
that the rally would not 60 far. Advices
by commission houses last night leaned
TO the opinion that the market had not
turned and could be sold on rallies, but
that care should be exercised to avoid sell
ing on slumps.
About half of the active stocks have
had what may be called normal decline.
III the ordinary rules hold good, the aver
age Will work somew hat lower, but the
cream OF the down swing Is of and any
considerable fall from these prices will
make buying better than the selling. No
Sugar, Rock Island and Louisville ~
Nashville were thought TO have had sup
port and Tobacco exhibited a repletion of
the usual tactics. The rise in gas brought
a rumor that Mr.. Moloney's stay in New
York had led him to see his duty in a
new light.
Although Van Emburgh and Atterbury
were large sellers OF sugar yesterday 1t
was the selling by Moore and Schley
which attracted special attention because
IL was their recent buying which gave
the street an idea OF buying by Standard
Oil interests. This firm Is also supposed TO
have been the center of the bull pool.
The decline developed q rumor that the
pool has been dissolved and that Stand
ard Oil people were selling.
One large trader who has been very con-
fdent IN his position on the bull side,
because Of the inside buying, as he called
1t, sold his stock yesterday. One wing OF
the inside party contended last evening
that there was no change In the trade Sit
uation and therefore no good basis for an
advance in Sugar stock at this time. The Q
Is an intimation that Sugar may be IL
down by the Havemsyer people in ord' r
to keep 1t in an active trading elemeni. /.
The London Copper market is as TO :
lows: Spots As rs; futures 46a. Marks
earnings of Canadian Pacific for. the tn I'd
week of March amounted to S72, 900.
The anthracite coal trade is acknowledge d
to be in O very unsatisfactory share.
Holders of Northern Pacific preferred will
probably get together and form commit
tee to protect their interests and get bet
ter terms. They hold lot OF land that
they consider valuable. This stock will
do to buy around IL.
Joseph says: Traders are not bullish.
II dependency had not taken the place
of confidence then st. Paul's good earn
in gs would have the effect of rallying.
Hold st. Paul. Buy little Reading. II
Chicago Gas sells of even moderately get
some.n
The Liverpool Cotton report for today
is as follows: $3.50 p. m, futures lower;
sales 5000; middlihgs 3-S.
ToDAY's STOCK BOARD.
WALL STREET, 1910 a. m.-The stock
market opened dull and irregular with
the variations in prices trivial. Tobacco
developed heaviness and receded one per
cent. On the other hand, LOUISVILLE and
| Nashville was In favor and gained II per
cent. The market is now steady.
Local Stock Quotations.