The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-20
FINANCIAL NEWS
The Stock Market Opened
Irregular Today.
All Stringencies In the Money Market Will
Be Avoided by the Treasury.
rpecial to The News

NEW YORK, Jan. 20 0--Lately the bDsi-
ness of the Leather Trust has not been
good, but the year as whole has been
excellent as regards to profits. A gentle
MAJ claims to have been told by an OFF,
Ger of the company that the net profits
for the yea amounted to 1000, 900 anu
that In ordinary years there would be no
difficulty in earning the s per cent. divi-
dend upon tine preferred stock. Ee also
said that the Leather Trust controls prac-
tically all the back lands OF Pennsylvania
and West Virginia, which are the big
tanning districts OF the country and that
this fact alone secures TO IL the key OF the
sole leather tanning business for a long
time to come. This has changed the men
in the trade from a b arish to a bullisb
base on the strength that the stock is
worth very much more than 1t is selling
for.
Information is received to the effect
that the attempt to sell the Jersey Cen
tral stock has been suspended. Ii Is not
apparent whether the lot on the market
has been sold out or whether the order
has neen cancelled on account of i'm
provements in conditions. Jersey Central
is obviously doing better than II was a
while ago and in case better prices are OBJ
tanned for coal 1t will probably be able
to maintain its present rate ol dividend.
The Treasury is assuring tankers that
ii will not make money stringent, yet
there is reagon for believing that the
Treasury relies upon reasonable active
money as q means of retaining the
nVnnn9ae
TO retain green backs in the Treasury as
far as can consistently be done, but wit
all this the market is duh. Nothing in
the Exchange market seems to reflect the
bond issue. No one is willing TO sell for
ward or draw against credit, ana more
are unable to do either one, or the other. 1t
Is practically certain that considerable
short interest still exists.
The increase in the earnings of the L. C..
c. & st. Louis Railroad for the second
week in January amounts TO s23, 900
The London stock exchange is reported
irregular and unsettled on account OF the
prevailing political doubts with Consols
slightly higher In support OF cheap
money, but Americans dull
The Liverpool Cotton market for today
Is as follows: 1890, Midtilipgs, Alp
sales estimated, 5000 bales. Futures
opened steady, demands fair, price un-
changed.
2 p. m. Futures unchanged TO about
ia point advance. Port receipts amount 10
%, 600 bales against AZ, 600, year ago.
The total import 9f gold TO New York
last week was "a, 72S, 56l against s2 425,
612 export. W.
Thus for this year the import aggregates
81, g06, ,376. against IS, 037, ,537 export.
Trading was moderately active at the
opening with prices irreg ulsr, Sugar and
Southern preferred were well SUPPORTED,
gaining 3, and 5-S PER cent, respectively.
The market now is running of, with the
Changers leading.
Stock speculation was almost siagnant
after II. and but n few changes of con-
seque nee were noted in values. The exc
cution of realizing orders In Tobacco re-
suited In recession of ia per cent, with
a subsequent recovery of about half OF
the decline. Manhattan. on small pur-
chases, scored an improvement Of is
per cent. Metropolitan Traction, which
sustained an early recession Of 2lo per
cent. rallied to Saturdays close. Sales
to noon. $4,000, including $500 listed
and Il, 200 unlisted.