The Providence news. (Providence [R.I.]) 1891-1906, 1896-05-11
The Stock Market Opened
Weak This Morning.
$6, ZOO, ,0O0ExpectedtOLeav
New York During Week.
Coal Companies Make IS Cents Per
Ton More Than Last Year.


New YORK, May II. 1t is conceded
that there are two sides to the market
and that for the time being fluctuations
will range between one and two per cent,
as Mr.. Addison Commack epigrammati-
cally remarks "This is q traders mar
ket in which quick profits may be found,
but those who are not satisfied to grasp
point on either side had better keep their
bands off," Temporarily, traders are at
taching a great deal OF Importance to
gold shipments and they expect that the
outflow this week viii amount to fully
as much il not more than the exports OF
last week. In other words, upward of
SO, ,0OO, 900 are expected TO leave New York
for London, Paris and Berlin during the
next six days. 1t is computed that tour
lists will spend not less, than So0, OOO, 900
in the aggregate and that this money fail
ing the export OF cereals and the chang
ing of position on the part OF England to-
ward our securities VIII have TO be sup
piled in gold. There is no particular bear
argument in this and only these who
wish to take the most distressing view of
the situation can find any comfort in
these periodical emissions OF the precious
yellow metal.
The report of the Liverpool cotton mar
ket for today Is RS follows:
1880, demand fair, prices easier; sales
estimate 10, 00D bales; middlings ZIG;
futures opened steady; demand moderate
at 2-6i decline.
12:45, spot grades 1-32 lower.
1t is ACKNOWLEDGEMENTS that the coal
companies are making So cents per ton
more for their coal this year than they
made last.
The Chicago, Burlington & Quincy
road has sold to Leo Higginson q Co. an
other block OF pei. cent. bonds on 4l2
per cent. basis.
Joseph says: SIN a traders market any
excuse is seized upon TO make quotations,
probability, OF war with Spain unless
the "Competitor's' men are sacrificed
will pave the way for more activity and
probably little lower range of prices.
"Sugar should re the best sale, but
only for a short. sharp turn. There is no
Likelihood of any rsouctiop in dividends.
Hold Chicago Gas and buy ST. Paul, Chi
cago, Burlington & Quincy on any quick
dip. Don't bull Western Union"
LONDON at 80 reports very weak
market. st. Paul and Louisville ~ Nash
Vile off 81, tho rest 3-S lower. Consois
are down 1-l6.
The weakness in London Is brought
about by the Gu ban trouble, and our
market viii also be lower and feverish.
The st. Paul officials are gratitied by
the crop conditions. They say another
good year will bring surprising earnings.
The visible supply OF wheat in this
country and Canada sfloet and in Europe
is 23, SOC, 600 less than year ago.
ToDAY's STOCK BOARD.
WALL STREET, 1915 a. m.-The stock
market opened weak and lower with
sharp recessions in the leading shares.
The market as adversely influenced by
expectations OF renewed heavy gold ex-
ports and the consicuous declines in the
prices of Americans abroad accompanied
by sales TOR that account. Southern pre-
ferred recedsd 3-S per cent. Chicago
Gas and l.. IL N. III, Sugar 1-S, Leather
preferred and Missouri Pacific l and st.
Paul, Burlington, Rock Island and Ten
nessee Coal, rs per cent.
WILL SHIP ONE MILLION IN COL.
NEW YORK, May ll.--Heidel bach, Jckel-
heimer n Company will ship 81, 600, 000 in
gold on the steamer Lachn, sailing for
Germany tomorrow; IL q. m.-The market
stiffened slightly after i0:15, but the i'm
provements were of brief duration, n gen.
eral reaction ensuing on the announce
ment OF an engagement of II, ,000,C00 gold
for export tomorrow, and on liberal offer
ings by the traders on the assumption
that the Cuban difficulties were assum-
ing prominence.