The Providence news. (Providence [R.I.]) 1891-1906, 1896-07-02
FINANCIAL NEWS
The Stock Market Opened
Strong This Morning.
The Trading Opened Brisk
and in Large Volume.
Very Little Gold Will Be Shipped to
Europe Saturday.

NEW YORK, July 2.--lt Is certain that
q better demand exists in the loan crowd
for stocks than for some days past. Be-
tween now and tomorrow's close there is
likely to be sharp rally of from one to
three points.
Cammack, who LETT an order to cover
5000 shares OF Manhattan Elevated at 9s
down to 81 got the bulk OF it yesterday.
Sage admits that the preparations to
equip Manhattan Elevated with electricity
are almost completed. The stock is likely
TO recover to par.
Connor will try to rally Western Union,
but 1t Is good sale on all rallies to "a or
Ontario g. Western may net an increase
of $1,000.
TIE London market is strong, st. Paul
Is up 6-S, Louisville d. Nashville 1-2, and
the rest IA 10 3-S. Shorts will probably
be made to cover today; IL so the market
Is a sale on rallies.
Shorts in ST. Paul are in the worst posi-
tion, as $4,000 snsres are being carried
here for London, of which 20. 00O will be
shipped Saturday. A scarcity OF this
stock In the loan crowd could easily be
brought about.
Very little gold will be shipped Satrr-
day.
An interesting bit of gossip leaked out
last night and upon Investigation was
found TO be an imaginative yarn. A
confidential letter was cent to at least
dozen houses stating that Cornelius
Vanderbilt and Harry Havemeyer came
together from Newport ano discussed he
political situation. Both agreed that the
outlook Is so sombre and silver men are
making such progress thst -Havemeyer
and Vanderbilt expressed their inten-
| tions of reducing their Investment hold
ings. This fairy story was told TO Keene
who thought sufficiently well OF II to raid
Northwestern and Sugar. Secretary Il.
ID. Worcester, who is away for the sum-
mer, telegraphed the Vanderbilt holdings
OF their own stocks are larger than ever
before.
Joseph says: "This silver business is q
mad craze and 1t should not be permit ed
to work the ruin that it is working. The
bears will lose everything they have made
in the past "a hours If they do not even
| up their contracts. market is -ea-
TITLED to rally. Buy Louisville Il Nash
vile, st. Paul, Chicago, Burlington &
Quincy, General Electric, Chicago Gas,
Missouri Pacific and Western Union for
| couple OF points at least.n
| The report OF the Liverpool Cotton
market for today is as follows:
1890 p. m.-Demand fair with prices
steady. Middlings, 1910; sales estimat-
| ed, 10000 bales; Futures opened quiet
| demand moderate, near months 1-2 point
advance, late months Ia point lower.
| Market now quiet and steady.
j. b. Bach d Co., say: "Tbe selling Is
being largely overdone and we look for
sharp rally before the close"
ToDAY's STOCK BOARD.
NEW YoRK, July 2, Il a. m.-The
| 3tock market opened strong and hfg her
with trading in large volume. Suger was
in good demand and rose 1-2 per cent. !;
General Electric improved 3-S; Tennes-
see Coal, and the -Grangers and Louis
Vile q Nashville, sharp fractions. Cni-
cago Gas however, was notable excep-
tion reacting ! 5-S per cent, TO 5S "a.
The improving tendency in the general
| list was soon checked and reactionary
movement ensued in which the greater
part of the early gains were wiped out.
PROVIDENCE CLEARING HOUSE.
The clearings OF tns Providence banks
today amounted to sl,206, l0o..