The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-19
IN THE
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1
seem TO think that there was much be-
hind the higher range of rrices. In Lon.
oon trading vas very narrow, sIihough
at O'Clock IL sieadjed down and Ameri-
cans were IN some demand, although the
price kept within very close range.
The wheat market also showed a little
activity and tins general sentiment seemed
TO favor higher prices. 1t was believed
that the speculative element had been
practically cleaned out and that the grain
would now work higher on all fayora Die
! advices.
Quinlan's cables, which were received
by Sullivan, Riley & Co.. this morning
showed thst in Berlin wheat was firm,
with December III higher. At Liverpool
whcst was weak at 81 TO penny lower,
but continental traders IN general were
selling. Corn was dull al Il lower and
Argentine cabled that the outlook for
crops was worse tnan ever. The cables
from London and ST. Petersburg all con-
firm the rumors of damages to crops,
and it is believed that this, II nothing
else, ought TO aid the American bulls In
their hight for higher prices.
One of the most important bits OF in
formation was received by Richard son
* Clark today, and was TO the effect that
in spite Of all rumors to the contrary the
Bank OF Engand had decided to leave its
rate unchanged at per cent.
Some disappointment was felt today at
the fact tnat Pacific Mail, instead of
making quarterly dividend Of per
cent, had .cided TO declsre il semi
annually for tho present. II ia believed,
however, tnat the company is in a much
better condition than many OF the roads
end insiders claim thRt its stock will
shortly touch 80. In fact nearly all pre-
diCtions iu regard to the market are buI-
lish. Whisky is expected TO go TO 20
before long and another upward move in
Chicago Gas is ANTICIPATED. Bache d
Co. say that tine Flower interests feel con-
6dCn. that this stock will sell ct So this
winter, and other houses are advising
their customers to purchase 1t.
Bsche & 20. also look for better things
from Manhattan Elevated. They say "A
plsn will be considered today which will
result in some working arrans ement
between Manhattan Elevated and the
Brooklyn Elevated by means OF which
continuous travel Mill be ELECTED hatMean-
the two cities. Msnhattsn will probably
make a spurt TO 100."
Joseph is even more bullish than usual.
IN his opinions today he says: "There
are just few specialites that Will be good
to have in the house. Metropolitan Tract
ion. Manhattan Elevated and Consolidated
Gss. Inside Of few hours the-e will be
fav rable developments in Manhattan
Elevated. Buy Sugar, Pacific Mail should
have sharp rally. Western union is a
purchase. Il member one fact, this is
bull MARKET"
The railroad reports today continue to
be as unsatisfactory g. those that were
received yesterday, and earlier in the
week. The decrease in the G. q q. for
the second week of Novemb Der was ZIG, ,Oo0
nata-+s- d y Aestsss, ,-seaFease,- $500;
Southern Railway, decreRse. $4,000; ana
Missouri Pacific. decrease, s2s,000.
The LeaG directors met today and DO
clsred regular quarterly dividend of
isi per cent. Ali grades Of hard, refined
sugar were reduced is cent today. The
London closiugs Were: Aichinson, 10 3-s;
IGrie,1 6l2; Louisville & Nashville, 81 is;
It. Paul, 10 3-s; Reading, SOla; Union
Pacific, 10 5-S; Wabash preferred, 10l..
wcrtlsy's noon letter TO Weoden, Ken
iall & Co., was as follows;
The marker opened with a somewhs, |
no5e cheerful feeling prevalent than has |
been he case for the last four days, Close |
observers Of last nights loan market |
" ere oi the opinion thst the short inter |
'st vas stearily increasing, aud az liqui- |
'ation is less pronounced thhn it was last
week, tue bulls were encouraged TO buy |
moderately ali the active stocks. In
sugar the short interest is seid 10 be so
arge that one house borrowed 2UO0 shares /
'0srCT-i17 FT ~ PEI ICT;,7 WnTCn Is ono
,er cert fellow the money rate. There
vas t1ir amount of covering this morn
Eg, but i seq 10 evidence OF inside
uyinC, and do not anticipate any bull
'ovemt at IN a., g, lca.t for two or three
'eets. American s, iii,s is somewhat
1ss acti'e Tnan yesterday, the buying
outi1uiug goOa and tlo 40 Cciallsts slate
hat they zee no Cviconce CI any liquida-
ION by insiders. LONDON houses are de-
ng lilte or moth ing, BOT have probably
ought more than they have sold. There
re vague rumors that n powerful clique
! heing formed to bull tho market, Dut
have been unable 30 obtain Gny con-
rins,ion Of them and am very doub b,ful
3 10 their authenticity.
Tho Liverpool cotton market operei
own today; spots being l-32, and futures
lower. As the result cotton was heavy
) ell tho markets although there were
'rested efforts to rally It. To the specel
Jserver I'll looks as II further liqdids-
ons were imminent, although IL ia be-
eyed that reaction is duo sfter the
we're decline that has been experienced.
now PRICES RANGED IN NEW YORK.
NEw YORK. Nov. 1g.-The trading on