The Providence news. (Providence [R.I.]) 1891-1906, 1896-05-07
The Stock Market Opened
Weak This Morning.
Sugar Sold on Reported Re-
ductiOn in Foreign Sugar.
Gold Shipment for Week Will Prob
ably Aggregate $7.0o0.Oo0.
spe eial 70 The Newa

NEW YORK, May 7.-All the leading
bankers of foreign exchange believe that
the exports that take place today will
temporarily fill existing orders and that
unless further instructions are received
from abroad no additional immediate
shipments Of the precious metal need be
expected. The free gold in the u. >.
Treasury stands at something over sl19,-
000. 600 AMI under ordinary circumstances
this would tend to reassure the most
nervous. Latest advices from Washing
ton indicate that Congress will be out OF
the way in about three weeks. There is
no doubt when a definite date Is an
nounced for the adjournment or the legis-
lative bodies there will come sharp and
we'll sustained rally in the market. Under
these circumstances there is no reason
why holders OF stock should become at
oil despondent or even tired.
IL seems uncertain whether ex-President
Banigan of the. United States Rubber Com
pany will build new plant as proposed.
Rubber after its serious decline of the
past few days 10 entitled TO rally and
good judges of the market believe that it
should be bought for term.
knowledge that considerable gold
would probably be shipped on Saturday
making the export for the week 1000. 600
or more, was the dominant factor in the
early trading, and when this failed to
produce ceiling, the story was circulated
that the president was about TO issue a
warlike message on Cuba and that two
prominent interests had private informa-
ton of Ii ard were selling stocks. Both
of these prominent interests denied that
they had any such information or that
they were sellers OF stocks TO any extent
The best informed Washington corre-
spondents said there was no danger OF a
special message and certainly none has
been prepared. 1t was possible that
there might be something new about Gu
ba the last day of Congress, or before the
Democratic convention, but there certainly
would be nothing until General Fitzhus b
Lee makes ihs report Of the condition OF
affairs in the island 10 President .Cleve-
land.
The Cincinnati Price Current says,
"The past week was very generally favor
able. Growth advancing rapidly under
warm moisture. An early harvest is 'indi-
Gated for Central Wheat states. The
chinch bug talk Is increasing. Corn and
Oats shaping favorab,y.
There is some increase in farmers Offer
ings of Wheat
Joseph says: "When the bears say let
go, you inst hold cn. There Is no reason
professional but its character will change
for better. IL q dividend is made IN Chi
cago Gas improve the opportunity OF buy
ing come. Buy Louisville a. Nashville.
st. Paul and Chicago, Burlington d
Quincey on any further dips of lo to 2,
Get little u. s. Rubber. common, IL only
for a turn. Watch Sugar. IL 1t crosses
1891, buy some as quite big stop order
will be reached at these figures.
The Liverpool Cotton report for today
Is as follows:
80 .. m.-Good business was done
thus far. Middlings, 1882 Estimate
number of bales sold, 120o0. Futures
opened steady demand moderate at 1-64
advance. Market steady.
12:45 Q. Estimate sales 15,0c0 Spot
grades unchanged.
lao p. m.--Distant months y point de-
cline.
ToDAy's STOCK BOARD.
WALL STREET, 1915 a. m.-The stock
market opened weak with trading in
moderate volume. Sugar was pressed for
sale or reported reductions in foreign
sugars, and yielded 7-S per cent. Import
ant fractional loSses also occurred in Bur-
lington, Chicago Gas and Manhattan.
Bay State Gas was an exception TO the
general trend of prices, rising Is per
cent, 10 32le.
pRovIDErscE CLEARING HOUSE.
The cleerings OF the Providence banks
today amounted TO S761, 500