The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-23
IN THE
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strong today II Immediately began Il
sag OF until the quotations showed ,
material decline in all values. Lopdor
opened very dull, evidently wsiting fol
New York TO take the lead, and the
iigures that were received did little &c
inspire active speculation. The fact that
the week Is TO be broken by nolidsy
also had tendency to throw the market
into feverish condition.
In spite or this, however, joseph re-
mains bullish. keep some Msnhatten. ~
no says, "and buy some Consolidated
Gas. III IS good Tor $50 and perhaps 200.
bsche & Co., however, are not as bul-
llsh as they have been. They regard
Union Pacific as a purchase and think
that tho other stocs may afely be bouc ht
on any su bstsntial break. 1t is generally
believed, however, that the deal of the
week will be in Consolidated Gas. The
meeting TO bring about the consolidation
which is TO include all the big interests
is called for Friday. 1he com bination
viii be effected In the same lines as the
| anthracite coal pooling and arrangements
VIII be so impregnable that news
| pspers attacks will be OF no avail. Bache
Co., are OF toe opinion, therefore,
| that between this time and Friday oil pas
stocks should te subject to quick and
81 bstantisi spurts.
The October report OF Northwestern
| which was made today shows a decrease
| Of Si64, 900, but the earnings for General
| Electric during the year ending October
o. above all expense, was s1,200, coo.
traders are locking for better times for
soft coal securities as the 81 cent rate for
oal miners has been restored TO Eastern
Ohio, and mining in that section was re.
sumed OH full time today.
Later the general market became
stronger with buying by the professional
element and opinion seemed to favor a
~ Ia 20 ~.
ish. bulls Metropolitan Traction today and
says that he expects It, to touch $50 be-
fore the end of 1897.
The Chicago Wheat market ouened dull
and with very little trading. il is now
anticipated that Gull turn is in pros
pect.
The visible supply is as follows: Wheat
decrease, 1887, 600; corn, decras,e, AZ, 600;
oats, decrease, 55l. 900.
he cotton market opened quiet and
steady and II Is now believed that exist
lrg conditions have neen discounted and
that any favorable Developments will
nnd expression In substantial rally.
Wortley. In bis noon letter to Meeden,
Kendall d Co., says:
Ihe market continues TO be mainly in
the hands OF the professionals, who are
bearish, and of one or two large houseS,
VINO sold stocks shortly after the cleo
tion and are now anxious to get them
zeal higher. i should not be surprised |
to see considerable change in the general
market on Tuesday and Wednesday. as |
the professional element IL generally tn
VII lug TO ~ over holiday with any |
large c,sen interests"
Money on call was easy-st 23,63 rer
cent. Prime mercantile papsr 46a4lo DIR
cent. Sterling exchange arm, with pusi-
ness in brokers biils 435loC0iS6 for de-
Inand ana S2Gdis2loS4 Tor go DAYS.
Posted 4o5l2Gs isGl2Qls7. Commercial
bllls 4ol. Silver certificate sales $1,000 at /
30 l-s. Rar silver 90 is. Mexican doilars
oo o-9. 1overnmeht bonds steads. Bank
clearlngs, sSJ, ,S3S, ,344; balances, S3i3 OgS;
debit balance, s126 03l.
THE LOCAL STOCK MARKET.
The feature of the local stock market
ms week was the SAL at auction Of the
ocel securities hypotDicated by Miller Il
Vaughsn. The safe attracted a large
'rowd OF local Investors and "a a role the
prices obt lined for the goods were excel
ent. American Screw Company stock
brought 1929. which was certsinls very
ar. Telegram stock, which has heen
e!llng around 81 and S3 found ready
'uyors at 7Sl2 ana the stock OF the Wash
hRtoh insurance Company, wHich nas
'een varying Between 49l2 and 501o sold
or 4el1. For some time past the stock
= the Gcrham Company Eas been very
'a ave. III mas sold Ct ll3 during the
l"ek and has Teen l1o@l15 for long
lme. small LOT OF these securities sold
OK llSL. lot OF Roger Williams stock, .
.hlsh u went ~ b3, was "a bargain as il has
ften brought SO OF lste. \
Inc greatest interest was shown In the ,
'sult OF the sale of the stock Of the ,
NODE Island Ierkin's Horseshoe Works. ,
or some time il has been dragging .
Iong without any general buyers, ana >
reat interest Was manifested as to what 4
would bring. The preferred stock was S
tnlten at so and this sold at 62, willis &
he 0O shares of common stock readily \
.unn purchasers Vt 20, which IS regarG- /,
as q very fair figure for both parties.
20 Tar NJ the regular local stock mar
~ is concerned, Albert l.. Miller states st
at ~ is little stronger. More al posi-
on to purchase the better class of local
vestments is shown. Although prices
I'VE not shown any material advance this
arket seems 10 have a more healthy tone 8,
d It Is believed tlat there will he a de- i.
ned chsnSe for the better within the o.
xt week or ten days. There has been "
me demand Tor bank stocks during the SI
Vt week, but very little disposition on
G part OF the holders to sell at the
ices offered.