The Providence news. (Providence [R.I.]) 1891-1906, 1896-07-15
General Decline in TOday'S
Prices.
Attack On Lake Shore and
New York Central.
Persistent Efforts to Hammer Sugar
Down Meet With Success.

Fifth avenue in front of his residence is
strewn with tan bark to deaden the
noise OF passing vehicles. but at the
Stock Exchange brokers are tearing them
selves to pieces, to attack Vanderbilt
stocks and bring them down.
II is an impulsive effort made on the
first rumor from the sick room and with
out considering that in all probability
the stocks will stay in the family and
not go on the market. However, Lake
Shore and New York Central have gone
down together with everything else on
the board today and at today's opening
ell stocks were from i2 to 1l2 of.
Two days ago with Sugar between l07
l-2 and 10S 1t was pred dicted that ny noon
OF Wednesday IL would strike lOo and IL
came within 1-8 OF 1t.
Harry Havemeyer VIII return TO New
York on Monday. In the meantime
Sugar Is likely TO drop lower owing to
the continued demoraiized condition of
tho raw sugar trade. Unless advices are
moro reassurIng from the Beet Sugar
market Sugar viii work down to par.
The London market is dull and prices
are put on American parity. The fort
nightly settlements have been concluded
but there is no disposition shown to
take hold afresh OF our market.
The market outlook is for lower prices
unless the shorts start 10 covering.
The advance in sterliSg checks the
rally completely. Market is all very
weak again and there is some closing
out OF accounts on the board for lack
of margin.
The Von Hoffman q Go. will ship to-
morrow to Germany 1900, 900 in gold.
Cotton futures opened steady at the
decline. Sales, 5000 bales. jan, 6.32;
Feb, 6.36; March, $40; Aug, 6.s3;
Sept. 6.3i; Oct, 6.32; Now, $40; Dec,
$50.
HEAVY TRADING IN DOWNWARD MOVE
MINT.
The noon report from Wall street is that
the selling pressure was abated, 1O:15
and rapid recoyeries were made in many
cases. In the downward movement
heavy transactions occurred and net
losses were scored extending TO 2 1-2 per
cent, with Leather, sugar, and other
leaning industrials, and the Changers
most prominent. Toward this hour
many OF the active stocks recovered the
arly declines and Louisville Il Nashville
has risen 10 slightly above yesterdays
final sale. Susqueha ma and Western
preferred, was under pressure and yield
ed 2 per cent. with practically no raj
lying power exhibited. The stock at one
time was offered considerably below the
lowest actual sale. The market is now
relatively less active and is fairly
steady despite the announcement of a
withdrawal.of 1900, coo in gold from the
sub-treasury for shipment TO Germany
tomorrow.
Money on call easy at ] 1-2 per cent.
Prime mercantile paper 4d5l2 per cent.
Sterling Exchonge strong and higher
with actual business in bankers bills at
sS6 1-2M3-4 for demand and 49, 1-2@3-4
for 60 days. Posted races 4SS 12-(dl-2 and
sS9@l-2. Commercial bills iS7.' Silver cer-
tiftates 6S 3-4@69; no sales. Bar silver
6S 5-S. Mexican dollars 50 1-2 Govern
ment bonds weak for the new fours;
other steady; State bonds duii; railroad
bonds weak.
SUGAR GOES DOWN TO 105.
After 10 a. m. the speculation became
more active and a resumption of weak
ness IVES noticed. Sugar sold of an nd-
ditionel 1-2 TO los 81; Burlington "a,
TO 50; Western Union / is to 10 rs, and
l.. x n. 3-4 to 46 rs. The declines in
the other shares were fractional. The
downward movement was stimulated by
a strong and higher exchange market
and engagements of gold for export 10
Germany and France aggregating $500, 900.
Rumors of further exports were also cur
TENT. The special feature of the market
was comrarstivels active in n. j. &. and
v break in the prices of the stocks from
95 Us to 81, ex-divldend at / IL per cent.