The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-28
FINANCIAL NEWS
Stock Market Opened M0der-
ately Active Today,
Prices on Securities Are Held Back by the
Bond and Treasury Uncertainty.


ftNNfaA w NoWN
NEW YORK. Jan. 2s.- II Is n well
known fact that a very large part of the
enormous wheat crop along st. Pauls
line is still to be moved, and IN view
Of this fact and the comparative wealth
OF farmers in that section. due to the
large wheat yield, it is not exceeding the
bounds of possibility to say that st. a
will earn between two and three per cent.
on the common stock in the current six
months. The dividend in March il ex-
pected to be 2 per cent. but the company
Is understood to have on hand sufficient
cash to pay 2 per cent. on the common
stock and have more than e, 600, 900 in
reserve.
The payment Of a dividend on Leather
preferred some time after the last of Feb
ruary and probably about April I, will,
1t is said, be conditioned on the turn
taken by the Leather industry between
now and Feb. 20, when the dividend
meeting will be held. As yet no SUBJ
stantial improvement in the business is
noted. Prices are about l per cent. above
the low figures and confidence is slowly
returning. 1t finds expression in moder-
ate buying orders. The demand, how
ever, is not equivalent to the necessities
CT manufacturer and is very small as
compared with the normal.
The advance in Reading was accom-
panied by a rumor that the company was
to open its q per cent. and that meant
with advanced prices on everything Town
to the common stock.
Some houses yesterday had a fair
amount of business, while Others have
very little. Traders sold at the opening
but afterward became the principal buy
ers. Sugar was depressed by Washington
settings, with the rumor regarding the
German bounty.
IT was thought that IL London came
strong this morning 1t would probably
ensure another day of advantei prices.
But II London sold there would be a re-
action as the pace had been tolerabiy rapid.
General sentiment however, was bullish
and on a reaction buying is practically
certain to be good. The bull interest in
General Electric continues confident al
though it is intirated that the stock may
not advance for a few days. The Boston
interest, which started the movement,
lost some stock in endeavoring to ac-
cum1late more ana has since been trad
ing within a narrow range When GER
tain stocks that are wanted have been OBJ
tanned there is a promise that General
Electric will have quite a substantial
rise.
Tho stock market opened moderately ac-
tive and irregular. The changes, how
ever, were trivial. The tendency OF prices
Is downward at this time with the
Changers and Manhattan leading.
The Liverpool Cotton report for today
is as follows: 1880 p. m. Estimate mum
Der of bales solo, 5000; middlings 4 1882;
futures opened from 2a2Ia lower; spot
1-32 lower.
The yearly statement OF the Delaware
~Lackawanna a. Western will be out on
Friday and will show over s2, coo, 900 net
increase for ~ months or a fraction over
s FER cent. There is only a very little of
speculative Delaware, Lackawanna q
Western afioat.
The London Copper market is as fol-
lows: Spots, 42os futures 43.
The slight weakness in Sterling and
the increasing railroad earnings helped
the improving tendency Of tho market
yesterday. Both stool and bonds were
more active. Sentiment Is still hopeful
and would lead to good advances were
the bond issue out of the way. The
market waits TO go Up, bet is held back
by the bond and treasury uncertainty.
The bears met with but little success
in the pressing prices after 1918 and the
appearance Of supporting orders In differ
emit stocks led them to cover freely, send
ing Sugar up I is per cent, to i05l2, and
the general list an u%nimportant fraction,
in which 81. Paul touched ~. The MAJ ket
Is now quiet, but with q good tone.
New York Stock Quotations.