The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-04
Stock Market Opened Ir-
regular Today.
London Purchases Reported as
Being Very Small.
Steamer La Champagne Will Bring
About $l,5OO,00O in Gold.


vile Is the only stock In the London
market OF which there still seems to be
some floating supply. Other stocks are
offered down but quickly rally on tie re-
ceipt of better prices from this end. The
arbitrage houses, however. are always able
TO procure Louisville Il Nashville at a
low figure.
1t seems as though London had sold
about everything else before selling its
Louisville & Nashville. People connected
with L. & n. property are entirely satis-
fed with its operations and conditions.
They say that by and by people W find
that silent revolution has been accom-
plished on the property and that it is in
better shape financially and physically
now that it ever has been.
Yesterdays rumor that the leather
directors had passed the January oivi-
dend has been denied. 1t is possible that
no action will be taken on the dividend
this month, the question being deferred
pending developments. 1t is also possible
that the dividend will! be formally passed.
The company has sold comparatively
small amount OF leather in the last three
months and although it hss plenty OF ma
terial on hand, which 1t hopes TO sell at
good prices this spring, 1t can not we'll
afford 10 distribute III million0 for the
per cent. dividend this month.
The December statement OF st. Paul
with the gross increase Of 1851, 13l indi-
Gates that the net earnings for December
will increase about $500, ,000. IL this proves
correct st. Paul will have earned in the
first six months Of the fiscal year in ex-
Joseph says: ''it seems as IL lower
prices will temporarily rule. The Euro
pean markets are buoyant. The Trans
vaal troubles are ended. London is buy
ing Louisville & Nashville and st. Paul"
The income OF the Canadian Pacific FOR
the fourth week in December amounts to
st55, 600, aud during the same period On
tario & Western earnings aggregate
s22, ,575.
Raw Sugar is very quiet and to an equs
degree firm, refined Sugar is steady, while
the future is conditioned upon the move
ment in saws.
The Liverpool statement of cotton for
the day is as follows: At 1890 o'clock p.
m, demand fair: prices are easier and
Gales estimated 10, 600 bales. Middlings,
4 1892
Futures opened easy, demand moderate,
1i2 points decline, now steady. One
O'Clock y. m. Futures closed quiet but
steady, 1ia decline rom last nights close.
A calle from LONDON avs that the ead.
vance In Americans is largely due to the
covering of local shorts brought about
by rally in general lists.
Ifa popular loan is to be floated il will
be big bear argument; it Is but natural
that good many will withdraw gold
from .the treasury in oraer to obtain
some cheap bonds and ini' will do the
treasury no good at all, besiae the rates
or money will be very high, as it means
contraction.
ID. III. Austen d Co. OF New York metal
brokers, say: "The European visible
amount of copper has not been so small
since 1888, and the stock OF copper out
side Of Chilli bars held in English
and French warehouses at this date is
only sufficient for about half months
ordinary requirements. From Jan. 1 un-
til the middle OF December 1896, the stock
OF American copper in those coun-
tries was reduced from 1872
tons to 100. The statistical state
ment of Copper is in "A very satisfactory
condition ana such ss to warrant much
bstter prices"
The steamer la Champagne, now on
her way here, has s',5Oo,0Oo amount OF
gold CONSIGNED to Zimmerman & Fo shay.
The stock market opned irrog ular, but
is now ruling of under the leadership OF
the Industrisls. Tobacco broke 3-li per
cent. to sili; Sugar, and Leatbe per-
ferred, liz; and Chicago Gas, st. Paul
and l.. q n. per cent.
rRovIDEgoE CLEARING HOUSE.
Tho c,earings of tho Providence
banks for today amounted To Ss7i, 200;
and for the week aggregated, s6,675, ZOO
>o.x, No.,r ss,cl n.,t.fi,ua