The Providence news. (Providence [R.I.]) 1891-1906, 1896-03-27
Stock Market OpenedWeak
and Lower.
Speculation UnfavOrably In
fluenced by London Cables.
Price of Leather During Past Three
Months Has Not Changed Much.
rrscial 70 Tho NswI

NEW YORK, March 27.-The feeling
upon the general market is more one OF
hopefulness than one of confidence.
Traders take no fixed position, because
they recognize that in the present state of
feverishness 1T is an easy matter to put
up as well as to mark down specialties.
Pressing necessities are forcing jobbers
in the market for shoes. Despite the de.
mand manufacturers are offering every in
ducement to effect sales. Many exor-
titantly low figures are recorded. The ma
jority of factories are not oupplied ahead
with orders, hence their refusal to book
contracts. Prices are low compared with
what they have been. There is hesitancy
on the part of buyers and there Is q lack
of backbone throughout the trade. There
Is no material improvement In sight ow-
ing to the mortgaging OF the future.
The prices OF leather during the past two
or three months here not changed great
ly and there will probably be no appre-
citation until then Is marked dimfnu-
tion in the surplus. There were 4, 200, 600
less cattle in the United States ut the be-
ginning Of 1896 than at the beginning of
1892, and 2,600, 600 less than at the Begin
ming of 1895.
The ease with which Chicsgo Gas goes
up on the appearance Of any legitimate
buying orders must prove most crafty
ing to those who nave held on to the
stock, Notwithstanding the persistent and
other blackmaiiing stacks that have been
made upon 1t. The committee will meet
in the course of a few days and Will de-
eide to resume dividends upon a 3 per
cent basis. The effect should be to put
Chicago Gas to go ut which price it would
yield over per cent. on the investment
af1 1ors snrx fttftt ttau n,
the certsinty that in due course larger
dividends will be paid, 1t can only be a
question of months at most when Chicago
Gas will sell in the neighborhood of 100.
The Postal Telegraph has Is Clio Of the
wire mileage of the Western Union. Gross
earnings are about Il OF those OF Western
Union, and net IL $40. a.
The sent lime mt on Sugar IL little more
bearish. IL Is thought that the Standard
Oil party has been feeding our stock.
A London special says that the purchase
by England of Delagoa Fay for 5000, 900
pounds has very bad effect on the
Bourses.
The more that the condition of the
Sterling Exchange market IL considered
the more favorable II apears az compared
with other years at corresponding seasons.
Imports Of merchandise are falling OF
and with any further advance of 10 per
cent. or so In foreign exchange there will
come comr raratively free Offering of
bulls unless there should be revival OF
war scares or other complications
The receivers of Baltimore & Ohio are
complaining that they have not sufficient
rolling stock 10 handle their business and
that 5000 cars and 20 locomotives are 10
be ordered as soon as possible. These
conditions OF affairs will encourage stock
holders and will have tendency TO drive
out whatever short interest exists in Bal
timore * Ohio.
The manipulators OF Tobacco contem-
plate lifting the price above S5 before the
close tomori ow. Chicago, Burlington d
Quincy is making active preparations for
prospective incrCssei business, and all
Western roads contemplate an increase Of
equipment. These are signs Of better
earnings.
The re port OF the Liverpool Cotton mar
ket today is as follows: Estimate num-
ber OF bales sold, 500. Futures opened
steadv. demand poor, 1-6i 10 2-63 advance
Middlings 3S. The market Is quiet
with prices steadier.
ToDAY's STOCK BOARD.
WALL STREET. lo:ib q. m.-The stock
market opened weak and lower on mod
crate dealings. The speculation was un-
favorably influenced by the receipt OF low
er London cables and come selling OF the
leading international shares for that ac-
count. sugar was sold freely and gsvo
way per cent. Louisville a Nashville is
down rs ana OTTER prominent shares less
important fractions.
Mining stock.
The following are the closing bid prices
of the listed stocks on the Colorado Min
ing stock Exchange, Denver. Mafca %, as
reported by r. L. Davis * .OmIany, IA
Warrington ttreet. koston-
BID ASKED Did Asked