The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-24
IN THE
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ruled tride higher. Within the drst
hour, however. they began to sell of
little slthough the changes were not of
great Importance. In London there was
considera bIe short interest In Americans
uncovered, but money was easier and
stock rose more active and higher than
they were yesterdsv, the buying OF in
ternationsls being ny the better element.
Wall street continued to be bearish this
morning anu an effort was made TO
make capital out of General weyler's
sudden return to Havana, but for once
the spanish war scare was OF no avail.
In spite of the general opinion, Joseph
still says that the outlook could not oe
better and he advises traders TO buy and
hold rather than sell stock.
Ihe examipation OF the Hocking Val
ley property, which has been made shows
that 1t ia. in an excellent condition. In
fact all the coal traders are in fine shape
and the curtsilment OF the coal output
for Decem Der to three million and possi-
tIy two and half million tons will en-
able them To keep up the rates.
The earnings Of Northern Pacific for
the second week In November show
decrease of s13s, $40, as compared with that
OF 1896, but it Is stated on good authori-
ty that next weeks reports will be bet
ter ell along the line.
From present appearance the wheat
market seems to be hardening and slowly
gaming strength. There was consider
able trading In privileges today, call be-
ing In most demand and 1t begins 10 look
as II any weakness that may be developed
before Dscem Der 1, will be only tempo
rary. Maryland 10 regarded as q purchase
today, and Cotton opened lower with not
much pressure to SELL. the enormous
receipts making no impression upon
prices.
All the reports from New Orleans today
predict sharp decrease in the interior re-
ccipts while Duluth reports that the sup
ply at the close Of navigat ion this year is
the smallest since 1890, and many good
authorities predict that we have seen the
lowest prices thar we will see for some
time.
market for some time appears today as
bull. he says, speaking OF his chsnge
Of position: 'sThe ease of money aud
the growing impr ovement In business
have caused me to abandon that side and
am disposed now to anticipate grad
uaI advancing level of prices which wi
discount tine January investment de-
msno."
Worthy in bis noon letter to Weedep,
Kendall * Co., says: "Frcm the open
ing the pparket showed considerably le
strength, infiueced by higher Lon do q
and a desire of traders who are generally
short to even up before ThanSsgiving.
Last nights loan market disclosed the
fact that the short interest was largely
in b. @. Sugar and anhattan. Whether
the Burliugton road will pe able to show
a per cent earned on their common stock
by the end OF tho fiscal year is matter
Of considerable interest in the Exchange.
1t seems probable that not quite full
dividend has been earned, but future
events may change the aspect Of things.
Leather preferred Is somewhat feverish
on rumors in regard to the dividend.
The directors are now said to be in ses-
sion and am led to believe that the divi-
although some ssnguine traders prediot
per cent
HOW PRICES RANGED IN NEw YORK.
NEW YORK, Nov. 24.-The stock mar
ket opened strong on the receipt OF
higher quotations from London, and re-
ported large short interest in Ameri-
cans, together with moderate purchasing e
orders for foreign account. Railway
shares were most active. This change OF
front on the part of the foreign traders
tended to stimulate purchases and tet-
ter tone was evident than for some time
past.
:. At noon an under current Of strength
was observable and in number OF
EsifsFes su ubstantisi gains were seerea-
tond market was featureless aside from
the fact that prices were well held. lhe
ales to noon were s6, 600 sha res.
Money on cali was easy at 2l2@3 per
cent. Prime mercatile paper 4(d5 per
cent. Sterling exchange easier, with
actual business in bankers bills a aS6ll
@4s6la for demand and 4s2si Qis3 for 90
days. Posted rates iS3@is4 and 4s7@
4s7lo. Commercisl bills 4sla.. Silver
certificates 90 1-s@85l9. No sales. Bar
silver 65ia. Mexican dollars 30 6-s. Geld
balance Sl27, 500, 153. The clearing house
statement was: Exchanges, sl25, 4is, ,4Ij;
balances. s8,770, III; sub.t-easury mas q
| debit balance TO-DAY OF S6lS, 1s6.
cotton futures opened steady; salo'
| ii, 400 hales. jan, 7.i3; Fob. I49
March, 1855; April, 7.59; May, ,7.6i; june
7.6s; July, 7.7l; Aug, III; Nov, 1872
Dec, 1882.
,yhere was a slight rally In prices jus
before the closing, but values appeared tC
| be without much strength. Leather
| PREFER cd wss tue exceptional foatGre,
running of from the opening at Go tC
623., after which Ii rallied slightly. The
market as 9 whole was inclined to show
| weakness. v.,S