The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-20
FINANCIAL NEWS
Extreme DullneSS Reported in
the Gold Export Market.
General Improvement Recorded In the
Prices of American Securities Abroad.
SneciaI to The New.


ket has drifted into dullness that sur
passes anything of the kind for good
many months. 1t is consequently very
hard to decide at times whether IT Is
strong or weak. The essential thing
about it is that at time of year when
gold exports are usual, the market Is
very quiet at 1la cents below specie point
with no sign of demand on larger scale
being likely in the near future. The
Chicago, Burlington Il Quincy directors
did what the majority of the street ex-
pecied them to do in view of the prospect
of large corn tonnage this year. SO far
as the March 81 quarter Is concerned, lit
tie or nothing Is ever earned on the stock
except in the month OF May which is OF
ten very heavy corn movement month.
Friends of both Rock Island and Chi
cago. Burlington * Quincy are satisfied
to keep their stock, in confident belief
that the Corn along the lines must move
sooner or later and when 1t does both
roads will show earnings like those OF
Northwest and st. Paul. 1hey count on
the cribbed corn as so much tonnage to
move, exactly as one week of bad weather
defers business until the next week. So
far ss Northwest and st. Paul are con-
cerned, the movement OF spring wheat
promises TO continue until Corn moves
freely on st. Paul and the big ore move
ment begins on Northwest. Some of the
officials of both companies have been
amazed at the way the wheat movement
| has continued.
The American Tobacco Company -pso-
| pie are very. confident that when the suit
| against the company comes before Vice
| Chancellor Reid Of New Jerfey on March
! Is it will be dismissed. They claim that
! the company is not violating the law now
| in any respect. To retailers who sell the
pany allows a higher ommission than TO
! those retailers who sell other goods as
| well. This, however, is entirely within
| the law. The dismissal of this suit, it is
| said, Will mean the removal of the princi-
| pal obstacle OF the settlement o! the war
! in the trade and general agreement vii!
| probably follow shortly afterwerd. There
| is evidence that the people identified with
| the American Tobacco Company have
lately teen buyers of the stock in the
market with orders, however, 10 avoid
| advanced prices.
The market, responded slightly to the
| Chicago Burlington & Quincy dividend
and TO the good Louisville & Nashville
| earnings about noon yesterday and again
! fractionally to the advance in bonds grow
ing out Of the award to the Morgan
syndicate. There was very little commits
| sion business, however, and not sufficient
! headway TO enable even traders TO make
more than very small turns. The best
| feature in the doy's market aas the activ
| ity in the railroad ronds, in which trad
ing was large with advancing prices.
There Is nothing TO indicate any deciding
move either way. good many people think
! dullness after an advance il "A tolerably sure
! indication of decline. This is certainly true
when the general tendency is downward, but
| is not always true when the main tendency is
upward. II the ordinary rule holds good, the
market should have moderate decline in
| March, and then quito substantial rise on
| spring prospects, providing, OF course, that
| nothing unforeseen is precipitated upon the
| market. The point which is watched more
| closely than any other is the condition of
| money, bat experts opinions do not agree
| upon the prof able results.
| Joseph says: "The Southern stocks will
| sell very much higher. Hold sugar; IL will
| sell at l.25 on the April dividend. Judg-
| ing by csbtes from BendonAioaay, there is
| evidence of revival OF public interest there
| in our securities. The announcement that
! Great Eritain will treat directly with the
| United States on tho Venezuelan boundary
| question, coupled with the announcement
| that the United States treasury holds Sl20,-
| OOO. coo free gold, which viii be further in.
| creased by S30,0O0OOO or more is having big
CHeCt abroad on our STOCKS.
"Louisville ~ Nashville Is a feature, selling
ms high as % l-lG. While st. Paul is equal to
| IS on the s,ni-oflicial announcement that the
Forthcoming dividend will not be less than 2
por cont and probably 21e per cent II looks
! "a II the two stocks just mentioned viii be
made tho leaders"
The Liverpool Cotton report for today is as
follows: 1890 p. m. Middings quoted at
| 1-lG Futures opened steady. with an al.
vance of from ~ to points, AMI since gained
| | TO ~: Spot, l.32 igher; estimate number
| OF bales sold 10000. 2 p. IN. Futures per
cent. higher than at.l2:3O. $3.50 p. M, y point
more advanced. 3pm The market receded
y point Port receipts 1900 bales against
1900 year ago.
j. r. Bocho & Co. say: Raw Sugar ad.
vanced in the market TO meet cable offerings
| limited nt higher prices Refined Sugar
active, both for immediate and future buy.
| ings.
The stock market opcuod strong and higher
| under tho stimulus OF advances in quotations
for American stocks In London and liberal
purchases for the foreign account. Leather
preferred rose ]. Sugar. rs and less import
ant gains wore noted in the Grnngors, Louis
willie a Nashville and Tobacco.
Mining stock.
The following are the closing bid prices
Of the listed stocks on the Colorado Min
ing Stock Exchange, Denver, Feb 10, rs
reported by h. {. Davis & Company, pa
Washington street, Boston.
Alamo ..... OILS Justice ....... Ojlo
~