The Providence news. (Providence [R.I.]) 1891-1906, 1896-12-10
IN THE
k*&$*

The market today, except in one or two
instances, is the same dull affair that has
been i'm order ever since the break ON Mon
day. While prices have had an upward
tendency. the rang, has been 80 narrow that
the result is scarcely perceptible.
The special To sullivan, Riley a. Go. this
morning states that in London the market for
American securities was steady, with some
what stronger tendencies. Prices have been
fractionally above New York. but speculation
and investments are both restricted, the
disposition ON the other side is to wait for
New York To take the lead. The foreign
houses i'm New York havs bought little
Reading and St. Paul for London balance.
but otherwise the foreigners are dcing little
or nothing.
In writing OF the present market conditions
10 &. Franklin Nugont a. Go. today, Mason
says: General business is growing no better
and i'm many instances il Is worse. Unless
we have decided Improvement early in the
new year, we viii probably have a consider
ably lower market. In the meantime, how
ever and before the end Of this month, we
shall probably have a sentimental rise Of TO
> per cent. think all the indications point
to this"
The repc-ts OF railroad earnings received
today were not what could properly be called
encouraging. st. Paul shows q decrease OF
sll3,7 ,725: for the first week Of December, Iowa
Central decreases s5.946, and Northern Pacific
shows decrease for the fourth week OF No
vember of 80, S5. Reading was weak today
on rumors that the commonwealth of Pennsyl-
vania was about TO attack the new organiza-
tion plan.
The rise in Sugar yesterday and today Is
entirely due to the rumor OF an impe nding 3
Ter cent. extra divi end. The short interest
in this stock Is not far from 25, 0OO shares, and
the shorts are decidedly unwilling TO pay
such dividend for the privilege of holiing
their shares, there has been scamper to re-
tire from the field that may carry the stock
to 120.
TIC advance I'm General Electric il the re.
suit of brighter business prospects for con-
Germs engaged in The furnishing of electrical
equipm mt, owing, in part, TO the decision Of
several trolley companies to construct under
ground systems.
Price, in n spccia to We den, Kendall d.
Go this morning says
"T am more than ever convinced that there
is steady and active absorption of stocks
being made by the strongest financial inter
,sts In Wall street" He also states that ''the
suspension Of Kirschncr for his identity with
Cuthbert & Co ought 10 be reassuring to all
who try to do their business upon reputable
and legitimate busin, - basis "
Aoney on calf was easy at IL per cent.
Prime mercantile paper, 4a5 per cent. Sterl-
ing e change steady with actual business in
binkeis bills 4s4 for demand and 4.s3al9s4
for 60 days. Posted rates 4.sia11 and 4.Sa1z.
u A OIL iGcat
6514a1s; no sales. Bar silver 6514. Mexican
dollars 5ds4. Government bonds firm.
The narket sold off in spots in the last
hour. Big Four broke to %; Missouri Pacific
TO 2O94: Chicago Gas to 73, and Consolidated
Gas TO l53l2. The general opinion was that
the Cuban agitation in Congress was being
used as a pressure by the bears There was n
slight rally at the close.