The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-24
FINANCIAL NEWS
The Stock Market Opened
Active and Higher Today. =
New England Banks Have Large Untitled
Buying Orders for Government Bonds.
epecial TO The News

NEW YORK, Feb. A.-Ihe missouri
Pacific report will show deficiency OF
half million or more for the yesr. This
will be an improvement over that OF 1894,
which showed deficiency OF 81, 933, $50.
The gross earnings for 1S45 increased sS,-
00S, ,577. II all this was saved 1t would
bring the net earnings for the year to s26,-
125, ,747, to which is to be added other in
comes amounting to s74l, 200. The
charges, however, are about s6, So, COO,
exclusive of interest on bond into which
the floating debt was funded.
Ii has been definitely fixed that the
Chicago Gas case comes before the SUI
preme Court of Illinois on March 3, or
week from tomorrow. The greater part OF
the stock has been absorbed by friends
OF the reorganization committee, and the
floating supply than it has been for sew
eral years. IL is believed To be the inten-
tion to put Gas well into the 70's, pend
ing the decision OF the Illinois court and
then, IL the decision is favorable, as the
reorganization committee and its lawyers
believe it will be, they think ii will sell
at 90 Dividends will certsinly be resumed
If the court sustains the position OF the
reorganization committees lawyers.
Commission people confidently expect
an increase in out-of-town orders. The
bullish telling appears to have grown over
the holiday, and advices sent out to in
fiuential cl ents in all parts of the country
suggest the espousal of the long side of
the market. The chapter of accidents will
in all probability favor the bull cause.
Money is plentiful, and the accommo-
dation is made particularly easy. The
forthcoming railroad reports will prove
stimulating factors, and the feeling Is one
OF general confidence that the net returns
for February Will be the best ever received
tor a Ai,., inA L., IA i1t1
of railroads. Confidence is expressed on
all sides and those that have been harping
upon the fact that times would change
for the better now believe that the country
has entered upon many months of pros
perity.
prominent New England banks and
other financial institutions have large un-
filled buying orders in the last issue OF
government bonds. IL would seem that
the syndicate intends to put these above
12O. The same coin bonds sold at 124
last year when the fate of the silver bill
was,undecided, whereas now everybody
knows that the United States are on a
gold basis. The government as are at
purchase for few points rise"
The Liverpool Cotton report today Is as
follows:
1890 p. m.=Middfings, 4i9;-fatures
opened steady, demand moderate, now
,
close. Estimate number of bales sold
amounted 10 10000.
j. 5. Bache * Company say: The Lon
don Market at 80 records Consos down
3-l6 to 109lo. Americans is better. On
Saturday the London market was J.,
lower. The London branch of the Comp
toir d Escompte, which brought out the
Tonking pig per. cent loan of so, 900, 001
francs guaranteed by France, was cub
scribed. for 30 times over.
p President Hoyt says the Leather report,
which is to be presented on Wednesday,
will be very complete.
Louisville * Nashville has 2, $50 900 seven
per cent bonds maturing next July and
5000, 600 Consols maturing in 1898. There
Will be great saving on the interest.
The earnings of the c. L. L. and st.
Paul for the second week in February
shows decrease of $4,000.
If the general market continues to hold
its strength the formation Of small bull
pools in minor speculation will be feat
ure. Huntington's friends are giving
out, sub-ross, bull points on Central Pa
ciic which they propose putting above
20. Insiders stop selling Missouri Pacific
IT is likely to rally few points. The
coal combination has come o stay. Lack
awanna officials believe the bulk of spring
contracts, many of which will be made
next month, will be from 80 TO 20 cents
higher than were contracts for 1895.
The resumption of business in Wall
street after the holiday was characterized
by an active and higher market for
stocks generally. Sugar, Manhattan,
Louisville and the Changers were in good
demand, although the improvements did
not exceed fractions. Ten thousand dol
lar silver certificates were dealt in at 69la.
Local Stock Quotations