The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-23
FINANCIAL NEWS
Market Opened Moderately
Active This Morning.
II Is Rumored That London Will Buy
$4,000, 900 Of the New Bonds.
-recial to The News.

pie say that there 10 nothing new In the
situation " est and the matter OF CONSOLE
dation was wholly in the hands OF the
lawyers. They did not change their
opinion OF the ultimate outcome and were
satisfied that the delay In perfecting con-
solidstiou would be much shorter than
some people expected. They were con-
circulating on the fact that they bad not
permitted the stock to rise in the 7O's
where 1t would have been a mark for at
tack. AS it is, 60 to GA "a a low price for
a stock earning the money Chicago Gas
properties are, and it is cheap in the COS,
particularly as the money is being accu-
ally be distributed among the holders Of
the stock.
There continues to be very small busi-
ness in both sole N upper leather. In
sole the greatest demand is for union
tanned because the price is lower COM
paratively speaking than the hemlock
brand. Shoemakers are unwilling to
make up shoes, fearing that leather will
be cheapr. Tight money is restricting
the boot and shoe trade materially, INT
until money for commercial purposes is
plentiful there is not likely TO be any I'M
proyement in the leather trade. The U.
5. Leather Company is not expected to
reopen its tanneries until the present
stock of manufactured goods has been
materially reduced.
Thn advance that haa IoIaIu faEnn
place in all kinds of grain and provisions
Is making some Of the bull talk that is
now beginning to be heard in the street.
In Chicago, the presence of q large
number Of country spectators has at
tracted attention to the public buying of
grain and a good many people who re-
mem bered that this was a characteristic
feature in last years speculation in the
grain market, ere beginning to think
that possibly the rise in produce and
provisions may be the forerunner of
another general speculation this spring.
There has been some fear that the sd-
vance In Wheat might check the export
movement and thus renct u~nfavorably on
exchange, but 3 fan 1t does not seem to
have done so. The expert demand for
Wheat continues good at the rate of
something like 500, 600 bushels a day, in
GLIDING -four.
A house which has taken an interest
In the tobacco election says: "We do not
expect any contest for control and 1t Is
doubtful whether tho stock which has
bean nurchacad "a t,cod ot har than ~ cop-
vince the management that requests and
recommendations which may he made
Represent an influential interest"
The London market opend very strong.
but has fallen off again, prices about Is
better than our close. Consols Is higher
which indicates that the feeling abroad
10 more confident.
The Fuerst Bismarck from southampton
brought $3.50, 600 worth Of gold.
The Liverpool Cotton market for today
is as follows: IL: 80 p. m, good demand,
prices unchanged, Middlings, 4 9-16. Es-
timated number OF bales 1900. Futures
opened steady. Demand moderate, con-
ditions unchanged and market steady.
2:S0 p. M, Cotton - point higher.
The port receipts amount TO Ia, O0) against
10, 600 a year ago.
There is a rumor that $40, 00l 900 of
gold is coming from London to pay for
q part of the new bonds. This is not con-
tirmed, but shows some change in senti-
ment.
The stock market opened moderately
active and irregular with the changes
mainly trivial. sugar, Manhattan and
N. Y. C., were well supported and i'm
proved about q per cent. each. The
market is now easing of with the
Changers and General Electric leading.
Genreal Electric bore the brunt OF the
selling pressure after 10:i5- yielding to
20 S-s. a drop of 1 Is per cent. Sugar
displayed exceptional strength, rising to
Il against 102 5-s, the initial price.
The general market is now quiet and
steady with quotations slightly below
yesterdays closing.
Speculation in stocks came almost to q
~stsndstill during the past hour. The
traders are inclined TO hold of pending
further Developments as to the effect of
the bond issue on the money market.
The result OF the meeting OF the anthra-
cite coal pi <,idents today is also awaited
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