The Providence news. (Providence [R.I.]) 1891-1906, 1896-05-14
Stock Market Opened Firm
This Morning.
Sugar Operators Lay Little
Stress on the Advance.
Wheat Showed a Fair Amount Of
Strength at T0day's Opening.

NEW YORK, May. 14--one Of the'largest
operators in Sugar said last night: "The
advance today was speculative turn OF
buying Tuesday on an impression that
the German bounty would be advanced to
refiners here. knowledge that sales OF
sugar had been very large was another
factor wcich induced buying. The buy
ers moved the price up and 4roba bly, sold
some stock. The main position In sugar
is unchanged. The big insiders hold
their stock. As long as they do, the extra
dividend Is an ever present possibility.
Nobody can say, however, that stock will
continue to be held and every time that
Sugar becomes active and declines, stock
Is thrown over on an impression that in
side stock may be coming out When tho
source OF the selling becomes known or
the price rallies this stock is bought back
again. This state OF mind has enabled
large traders to make several profitable
turns and there seems TO be nothing to
prevent several more"
1t was noticed on Tuesday that good
support Was forthcoming in Louisville &
Nashville apart from the London buying.
Yesterday Louisville a. Nashville was
about the strongest railroad stock in the
whole list and there was evidence OF
quite considerable buying from what
seemed to be inside sources. Chicago dis
patches, intimating that Louisville bet
terments which are being made now out
OF operating expenses were being made
petition from the Illinois Central.
were not credited by people well
informed on Louisville 4 Nashville affairs
and were denied by the compapy's
officials. 1t is understood that Louisville
people are in entire harmony with the
nfa fral QG rA hos IL a
Ohio and South Western matters and that
there Is no danger of an open rupture be-
tween the two systems resulting in un-
reasonable competition in business.
Wheat showed a fair amount of strength
at the opening in Chicago this morning
due to local scalping operators. The trade
seems to bs disposed to act conservatively
in wheat awaiting crop developments.
Though the sentiment is bearish II is not
aggressively so.
Joseph says: "3uying of United States
Leather preferred is good; comparatively
little stock pressing and the chances favor
dividend OF one per cent, within a
couple OF weeks: Watch Tobacco script.
Insiders are buying II and new deal In
Tobacco Is pending. Hold Chicago,
Burlington b. Quincy ann keep long OF
st. Paul, Missouri, Pacific and Chicago
Gas. whiskey Is good for turn OF
point or two.'
The London report at 1880 says Consols
are unchanged while Americans are very
strong Ia to 3-S higher. The April earn
ings OF Chicago, Burlington x Quincy
are reported 20 be little ahead OF last
year.
The Liverool Cotton report for today is
as follows: 1880 y. mr. Prices easier.
Estimate mum ber of bales sold 5000. Mid
dlings 1882. Futures opened easy, de-
mand poor and quiet at decline of 1ia
poi nts.
ToDAY's STOCK BOARD.
WALL STREET. r19.i5 q. m.-The stock
market opened firm with slight fractional
gains, the general rule. Buffalo, Ko-
chester & Pittsburg preferred attracted
attention by jump OF 3ia per cent. to
90. In the bond operations Atcbison ad-
justment as were feature rising IA
per cent.
The share speculation thus far is with
out notable feature some concessions
from the initial prices were made on real
izing orders but the losses were soon re-
gained, the traders being encouraged to
bid up prices by the improre London
quotations and some foreign buying A
reduction OF per cent.to As In the posted
figures for long sterlipg by a prominent
operator led to general frmDess.
PROVIDENCE CLEARING HOUSE.
The clesrings OF the Providence banks
today amounted to $3.50, 700.