The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-30
FINANCIAL NEWS
The Stock Market Opened
Firm This Morning.
$3.50 900 Gold Shipment TO New York
From London on Majestic.
special to The News.

ing in the action of yesterdays market
to weaken bull condolences. The supply
Of stocks was at no time materially In ex-
cess of the demand and those who sold
had enough difficulty in buying back 10
make them unwilling to press sales very
far. The temper OF the room early in the
day was favorable to a reaction. The fact
that none came strengthened confidence
In the persistence of the advance. 1t has
often been noticed " hen prices have had a
decline similar to that occurring in De-
cember there has come within two or
three months a slow but steady rise due
to the fact hat stocks ordinarily met on
an advance were not for sale because they
had been shaken out during the depres-
sion.
Some of the operators who are bulling
the market lay stress on this fact and say
that they ere willing to advance quota
tions several points further, believing that
IL stocks are not taken Immediately they
will te bought later.
A director OF one of the Chicago Gas
CO mpanies says that very little more will
be done toward consolidation until the
papers have been filed. II is about agreed
that the consolidated companies shall
take the name of the Peoples Company.
Members of the reorganization committee
gay 1t makes no difference That Moloney
says or does in regard to the Gas consoli-
dation.
Mr.. Moloney's opinion and that of the
attorney Of the reorganization commit
tee will be presented to the Supreme
Court Of the State of Illinois, which can
give an opinion early in March. The
reorganization committee mas no doubt
that the position will be fully sustained
by the Supreme Court and the consolida-
ton be declared legal under the laws of
Illinois.
The Liverpool Cotton Market today is
as follows: 1880 p. m. Demand fair
with prices steady and unchanged. Es-
timats mum Der of bales sold, 10, 900. Fu-
lures opened quiet with moderate de-
mand, unchanged, and now fair.
12:45 E. m. Spot grades, 1872 advance.
9 p. m. Cotton steady, futures steady
1-64 advance. Sales, II, 600. Port receipts,
IA, 900 bales as compared with 50, 000 a
year ago.
j. S. Bache & &C. say; "Consols are
107 1916 Americans are strong in Lon
don with an advance of Il per cent. The
Majestic, which sailed for New York yes
terday, carried s2, 500, 900 of gold for this
port.
The stock market opsned fairly active
and generally fair. Pacific Mail was in
good demand and rose / per cent, to
2Ss,, chiefly on the excellent trafiic state
ment Of the company. The market is
now heavy in tone, with Sugar off l pr
cent. and the Changers important frac-
tions.
The Vanderbilts prom Use to loom into
prominence. There Is an outstanding
short interest in New York Central
which will be compelled to cover. The
have the word Of the president OF the
Delaware & Hudson and of the Delaware
L~ackawanna & Western that a settlement
will tie fixed.
London copper market report is as fol-
lows:
Spot, d3; Futures, 43 3-s, market steady.
The Cincinnati Price Current says:
"There has been a continuance OF mild
weather in the winter wheat States and
the position OF the plant is not changed
materially although there is a lack OF
snow protection and In some localities
freezing and thawing is telling quite seri-
ously on the growth"
The market continues strong. Sterling
is easier, London has stopped selling.
The traders are pm the bull side. The
larger interests. however, are waiting the
outcome of the bond deal and will not
buy till that is settled
Sugar is again a leader and it is now
known hat the recent advance was in
spired by insiders.
RIPPLE CREEK AND COLORADO STOCKS.
The following are the closing bid prices
of the listed stocks on the Colorado Min
ing Stock Exchange, Denver, Jan. 20, as
reported by Il. &. Davis & Co., 244
Washington Street, Boston: