The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-10
FINANCIAL NEWS
The Market Opened Strong
and Higher This Morning.
$685. 900 of Gold from Europe Arrived on
the Steam Ship New York.
Special to The News


NEW YORK, Feb. 10.-Saturday's mar
ket was the natural development of the
bull campaign. Traders not in sympathy
with the advance said that the market
was artificial and they thought there was
manipulation with reference TO tempting
the public in today. The more general
view was that a better feeling throughout
the country had found expression in more
demand for stocks. Operators who had
sold and tried to get a reaction said the
market would not react, and as long as
his was the case traders would get profits
more easily by helping the advance along.
The names OF most of the large operators
were connected with one feature or an
other of Saturdays buyings. Sugar was
admitted to be the leader and the ru-
mors of an extra dividend, while not
vouched for by anybody, was looked
upon as combining possible truth. The
way in which the market has taken the
heavy realizing In ct Paul Is one OF the
best evidences in its Inherent strength.
The advances in Tennessee coal and Iron
is believed to he the outgrowth OF the
company's excellent ~businessNi in January.
The reduced award of bonds to tho Nor
gan syndicate was considered a had fac
Tor in that IL increased the liabilityof the
treasury Withdraw ais of gold and on this
hCCOuuI IL was ltdItN tudb lie BOlu NutS-
tion might become a factor In the situa-
tion again much sooner than is desired.
j.. S. Bache * Co. say: Consols are up
3-16 to los 7-16 and Americans are Il better
at 1880 p. m. The feeling over Sunday
was very bullish, but a few traders
thought, however, that the time had
come to take profit on strong spots.
The crop report will come out after bust.
ness hours today and il is likely that 1t
will oisappoint the bulls on wheat.
The earnings of the st. Paul road, which
are due this afternoon, will proahly make
a favorable and satisfactory showing.
1t is time that Rock Island has s3, 000,-
600 in its treasury hat came from the sale
OF Mini d st. Louis, but st. Paul, which
will increase its dividend to 4 per cent.
on the II of March, is loaning $4,000, 600 in
the street.
The Liverpool Cotton report for today is
as follows: At 1880 p. M, the estlmsted
number of bales sold amount to 5000.
Middlings are quoted at 4 9-16 n Flu
lures about l2 a point W and quiet.
The port receipts aggregate 100 bales,
aaginst 25, coo a year ago.
A special from j. s. Bache & Co. says
Sthat 800, 600 gold arrived on the steam
ship New York, probably for j. p. Nor
gan x Co..
The stock market opened strong and
higher under heavy purchases or the other
counts, in which foreign orders figured
to a fairly large extent. The cabled quo
tations from London were higher and
this fact lent additional stimulus TO the
local market. Sugar rose 1l2, CONSOLIDATE
ed Gas III, Tennessee Coal rs, Manhat-
tan x Northwest, "a, and other prominent
shares gained less important fractions.
Buying riders in considerable amounts
appeared in almost the entire active list
up TO moor. General Electric improved
L, ~Lackawanna 1io ard other prominent
shares gained important fractions. To-
bacco sold off Ia per cent. on denials of
the rumored impending truce between
the company and the opposition. Read
ing displayed weakness. yielding 5-S per
cent. Sales to noon goa, 100 shares, in
Guiding 1885, 200 listed and 46, 300 unlisted.
Manhattan has been the feature OF spec
ulation since midday and on compara-
ti.ely light trading has improved to 113
against l0Slo, Saturdays final sale. The
other shares are dull aud without especial
change i'm value aside from Leather Pre-
.erred, which sold dowp III per cent.
Zimmerman ~ FoTshay announce that
they will withdraw $500, 600 in gold from
the sub-treasury today. IL Is believed
that the coin is Withdrawn for the use of
successful pond subscribers.
CRIPPLE CREEK AND COLORADO STOCKS.
The following are the closing bid prices
Of the listed stocks on the Colorado Min
ing Stcck Exchange, Denver, Feb. s, as
reported by T.. {. Davis X Company, 24l
Washinpton street. Boston.