The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-17
FINANCIAL NEWS
The Stock Market Opened
Weak This Morning.
Raw Sugars Are Reported 10 Be Exceed
iDgly Strong.

NEW YORK, Feb. III. S. Bache d
Co. say: "London is reported as lis TO
Il of a point below and 1-16 lower on Con-
sols."
The Liverpool cotton report for today
is as follows: Middlings, 4 1872. Futures
from 3ls to 3la lower. The estimate
number of bales sold amounted to sOoo.
2 p. m. Futures 2-64 lower than at l2;So
p. m. making it down to Lea in all.
The London copper market reports
Futures at 453s, while the market Is up
% active and with q good demand.
The stock market today should depend
largely on whethsr the realization AT the
end of last week has been digested. There
is little news of importance except the
rumor that the Graves lot of government
bonds were arranged for Saturday.
Saturdays market about met expecta-
tions. The room coverings strengthened
prices a little, but there was no bull lead,
and operators were disposed TO await the
result of the bond settlement before max
ing new venture. The fact that several
lots of bonds passed from weak to strong
hands was expected TO give the govern
ment bond market strength.
The raw sugars are exceedingly strong
with light offerings. Refined Sugar re-
mains unchanged with fair demand. The
European market is unchanged Tor I'M
mediate delivery, tut 81 TO ll2 per cent
higher 70 futures. Joseph says toaay:
"Tbe alleged Kaffir war scare, judging
from the prices of console, Is exaggerated,
but the American department Is a dlsap-
poIntment to the bulls who lind II tempo-
rarily impossible to awaken any OUTSIDE
interest. Louisville a. Nashville is weak
albeit that the company's earning snow
up well and will still further improve De-
cause of the success of the Mafdl-Gras
fetes. st. Paul is steady at 76 3-S, while
New York Central and Lake shore are
Is to Il above Ne York parity.
Ii is stated on excellent authority that
another effort that promises to be success
ful is being made TO bring about a truce
between the General Electric and the
Westinghouse interests, and the result will
be remunerative to both companies. In
siders are buying General Electric.
The share speculation opened quiet but
weak in tone, with the depression most
acute in the industrial group. Leather
rece1ed IA Per cent, do, preferred ana
Sugar, I, and Tobacco 5-S. Manhattan Is
under considerable pressure at this time
ana is of 24 per cent. to 103. The gen.
eral list Ia ruling steady.
Sugar and Manhattan received support
at the low level, and on light.trading raj
lied ga and 1 per cent, resp s%ctively. The
general market continues under pressure
and concessions of a light fraction are
numerous.
Decided strength characterized the
stock speculation of the last hour. Man
haitian rose to l08 rs and sharp gains
were made in many other shares, paticu-
larly Tobacco, which brought s0l2.
GOLD DEVELOPMENT co.
A recent issue of the Cripple Creek,
Col, Morning Times reports as follows:
President Campbell and Manager Green
of the Gold Development Co., of Boston,
closed the deal yesterday for the pur-
chase Of five claims about % OF a mile
north of the Lincoln. The claims include
d6lo acres of ground. A bond and lease
was Also secured on the Trinidad Gold
Queen and the Pueblo Gold Coin on Will
son Creek. below Visitor. the lease having
Is months to run, and the amount of the
bond being fixed at 200, 900. A steam
plant has been ordered for the Gold
Queen. Some ore has been shipped from
this property and the company proposes
to MAKE a steady producer of it. IN the
May-Be-So on Globe Hill, a recent pur-
chase of this company, a contract was
let to sink the 75-foot shaft an additional
100 feet. Assays running sos have been
obtained from this property. A bond
and lease was secured on the Sunset lode
on Mineral Hill for $40, 900. The claim is
lONdNtu Oh IA Ntot oAODo VI 'AAAiNiai LII
above the st. Louis and Cripple Creek
tunnels. and is developed by a shaft 100
feet deep, from which some encouraging
assays have beer obtained. Also a bond
and lease was obtained from Ed Chen on
the Little " idow on Mineral Hill, the
bond calling for $50. 600.
The shaft on this property is down rs
feet and work is TO be resumed at once
The company has secured a large
amount of valuable property and is
rapidly increasing its holding. No stock
Is placed OH the market for sale.
Mining Stock.
The following are the closing bid prices
Of the listed stocks on the Colorado Min
ing Stock Exchange, Denver, Feb. Is, as
reported by f.. Z. Davis y Company, 24j
Washington street, Boston. I
Alamo ............. e7K Justice .... .......... o5I