The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-13
FINANCIAL NEWS
Stock Market Opened Strong
and Higher This Morning.
Russell Sage Talks on the Stability OF
Missouri Pacific.
spocial to The News.

NEW YORK, Feb. 13. Tuesdays market
gave bull confidence quite a shock.
The persistence of the realizing and es-
pecially the relapse in the last hour led
operators generally to think the advance
had received a blow from which it would
not Immediately recover. The amount OF
stock marketed by Moore d Schley on
Monday was a weight on Tuesday and
talk of Withdrawals of gold from the
treasury and of the Withdrawals OF the
Morgan interests in bull specuiations at
tracted considerable attention. Views
after the close were that there would be
mope reaction, although some of the
larger operators thought the stocks did
not come out very freely Tuesday n
that when the room began to buy back
its short stock there would be a quick
recovery.
The break in Manhattan brought a
rumor that tie lease proposition has
been rejected. Sugar was sold by people
who said that an extra dividend was out
of the question.
Russell Sage said on Tuesday, at Is
discouraging to deny reports that are put
in circulation regarding the Missouri
Pacific. There Is a new falsehood every
few days and denying that one results
merely in the creation of another. These
lnllRS lflRHItn DOlutT5 anu tuty WIlbt
letters asking If there is anything wrong
with the property. l say TO them as l
say to everyone who asks me, that
Missouri Pacific is a great property, one
in which / have confidence and n which
in my opinion, has a great future. III
did not relieve in the property and did
not know 1t to tie all right, i should not
be willing to hold tie large amount of its
securities which i have aud which i am
perfectly willing to keep.
Somebody wrote too me a while ago
asking IL Iron Mountain would default on
its interest. Iron Mountain has paid its
interest regularly for q good many more
besring Missouri Pacific have been in
business. Missouri Pacific as a stock is
subject TO fluctuations like other stocks,
but the property is sound."
j. s.. Bache X Company say: London
seems to have pulled on its seven league
bull boots today and to be spurred on by
the assurance that the Venezuelan mat
ter will be arbitrated."
are buoyant, Louisville x Nashville Is
equal to 40 ISIS aad st. Paul 76is bid.
We Colonel Ashley president sou OF 1.-THE the
of the annual report of the Missouri Paci-
.ic road and it will make a far better
showing than it did for the previous
fiscal year year."
The gold reserves are away above the
danger mark and stand S23, 000, COZ better
than a week ago. The treasury now holds
S65, 7S2, $40, exclusive of the large deposits
held blythe su b-tteasuries.
Money promises to be relatively cheaper
provided the market receives no blow
from unexpected quarters.
There is no re ason why the best classes
Of Changers should not be bought on
any further recessions Of from y 10 !
per cent.
The short interest Is increasing in
Sugar and the Havemeyers who have not
closed out their speculative llnes will pro-
baby give IL another upward spin.
Tobacco reports its net earnings as So
791, 81, out of which were raid s95S, 440
on preferred stock, leaving SO, 0l9,0Sl on
ommon Dividends for the year on COM
mon 81. GIL 900, leaving a surplus Of
81, 400, 0S1.
Bankers believe that the popular loan
will yield e, 800, COZ less gold to the treas
ury thar would nave been obtained under
the syndicate agreement.
The Liverpool cotton report for today
is as follows: 1880 p. M, Middlings 4la;
futures quiet and steady, ID to liza lower.
The estimated number OF bales sold
amounted TO 5000.
The port receipts fer two days amounted
to 26, 00j, against 81 ,C0o a year ago
The London Copper market reports snot
at 44A and futures at Al 5-s. The market
is steady with y point up,
For the FIRST week OF February the in
crease in the earnings OF the Louisville Il
Nashville read amount d to S42, 600; while
the earnings of Lake Erie ~ Western re-
core a decrease of $500 for the same period.
The stock market opened strong and
higher on mcderlte dealings. Buoyaucy
was noted in the Industrial shares. To-
bacco, on the favorable annual report,
rose 3 per cent, and Sugar, in connection
with a lvances In the prices of both foreign
and domestic grades of the staple, improv-
ed / 3-S per cent. General Electric gaine ed
l ga and Chicago Gas / is per cent.
Louisvil G & Nashville recorded the
greatest advance IN the railroads, : per
cent.