The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-03
FINANCIAL NEWS
The Market Opened MOder-
ately Active Today.
Boston Galleries at Wilkesbarre Resume
Work After Three Months Idleness. Z
spccial 70 The News

NEW YORK, Feb. "a director in
Leather said: "The weaker tone in
Leather has a bearing on the dividend
vidend Of 2 per cent. on the preferred
this month, but the business is the first
thing to be considered. II we cannot pay
a dividend without sacrificing assets. We
believe the stockholders will heartily APP
prove a conservative policy. We are OPP
posed to borrowing money for dividend
purposes as long as there is any unoer-
tainty that goods on hand might not re
sold to advantage"
The changes contemplated by .Ianhat-
tan are in such a condition that no one
connected with the property cares 10 talk
about them. There Is excellent authority,
however, for saying that the manage
ment has taken a new stand with respect
to needed improvements and mas teen
trying experiments as fast as II could In
order to secure the best results before
them well and with which they are fami,-
lar. Wien the change Is made in one
direc tion it is calculated that other i'm
provements will rapidly grow out OF II.
That is why those who bad these in
timations jump To the conclusion that
inc uTcl CHhDbt ~ W ~ Ia sbobct IO"NA
and that with electricity put in there
better lights will naturally follow In the
cars.
TIE floor brokers OF large houses quite
naturally ADJ Use that the market ought
to react, although accompanying this
advice with recommendations TO buy on
two or three points decline. The more
bulli.h houses point out that the situa-
tion was better than in ter while
prices were from three to 10 points lower.
Denver money was regarded as probable
this week but was not expected to amount
to serious stringency or to last very long
loaning rates were higher and the chang
ing of loans offered further evidence OF
current opinion that affect the most
active bull, who Of late are well out Of
their long stock.
Surprise has been expressed on account
of the failure OF Missouri Pacific to adj
vance In sympathy with the market.
2 ne reason of this is that there has teen
steady pressure to sell the stock for
about two weeks. The orders are distri-
buted and the effort was apparently to
get as good selling prices as possible.
Opinions as to the source Of the supply
are conflicting, but 1t has the appearance
Of being inside stock.
Raw sugar Is gaining In strength. n
indications are that ~refipers will be forced
to. pay top prices.
Today's Liverpool Cotton report is as
follows:
1890 D. m. Prices steady; middlings
at 4 1912; sales estimate 5000 bales;
futures quite steady - point advance.
2 p. m. Futures quiet but steady. about
Lea advance from saturdays closing.
A srecial from Philadelphia says that
the Boston colleries at Wiikosbarre, after
teipg idle for three months, resame1
operations today emp Dying 1000 men.
j. s. Bache * Company sayi lit may
A.. A a. aaI1 akNala aAArt IN an hot
has teen dore on the Silver question,
especially as the following of J. y. Nor
gan ana Y. A. Steward of the u. 3 Trust
Company, to say nothing oil other poten-
tial interests, are determined, in fact have
pledges Themselves, so to sleak, to make
the bond issue a success.
A special cable reports that an attempt
will be made to bring the Sugar bounty
question before the Reichstag this week.
Wheat shows much easier tone than
on Saturday. The market Is not weak
but hes edged of for the moment.
Considera BILE outside buying Of Corn IL
recorded but tho market inclined to fol-
low wheat sellidg Today, induced ny The
heavy snow fall.
Contrary TO general expectation In view
of the Senate vote on the free silver coin
age amendment TO the House bond bill,
London prices for Americans did not
show losses over the New York parity OF
more than 1-Sa3-S per cent. This fact Is
probably due to the understanding In
foreign financial circles Of the practically
assured defeat OF the measure, either In
the House or by the veto of the executive.
Il he maket opened moderately active
and with a deprcsse1 tone. Considerable
heaviness was evident in the indnstrial
group. General Electric reccded Ia.
Tenn. Coal III and sugar and Lead ]
per cent. The weakness OF the latter
stock was ascrited to the announcement
of the death of w. +. Thompson, presi-
dent OF the company. The break In Sugar
was mainly a shading OF the prices OF
Changers and OF the product. In the rail-
way list. Missouri tactic was conspic-
uously weak, yielding III to 24L.
focal Stack Ouotntioua