The Providence news. (Providence [R.I.]) 1891-1906, 1897-10-18
IN THE WORLD
OF FINANCE.
Market in Rather Better
Condition Today.
SUGAR AND CHICAGO GAS.
They Were the Chief Features In
Today's Speculation.
SUGAR AND CHICAGO GAS.
LOCAL STOCK MARKET FIGURES.

London vas higher this morning aud stocks
on this side opened strong. Sugar took the
lead soon after the opening and acted as II the
purchasing power behind IL was particularly
strong. Chicago Gas was irregular. Thi.
is stock that will offer excellent opuor-
tunties for trading during the next ew
days, and those who buy on the declines will,
II they sell on quick bulge, be in a position
TO take advantage of ali attacks, not only TO
recover their stock, but TO place thems, Ives
in more impregnable position One Gas
specialist states that eventually Chicago Gas
will sell as high IT ever sold, and in due
course OF time the 40 that was predicted for
the stock will be recorded, and he advises
people who are on the lookout for good in.
vestmsnt TO get into Chicago Gas and hold on.
Stuart a. Paddock, however, state that the
decline in this stock last week was due TO
the selling by people closely connected with
the management, and those who had informa-
tion regarding the statement that was 60 be
made to the New York Stock Exchange.
Many investors were very much disappointed
TO ind that the company's showing of cash
on hand amounted to only 1897 so6, instead
of 81 10000, as was unofficially reported
some weeks ago, and also that the floating
counts receivable. Stuart & Paddock do not
hesitate 10 express the opinion that Chicago
Gas will sell lower.
While, of course, New York politics have
made disquieting effect upon the market
the fact that the decision of the Supreme
Court in the Nebraska maximum freight
rate case Is daily expected, has tended TO
place the railroad stocks, and especially the
Changers, in rather uncertain situation.
When this decision is handed down IL will have
an important effect, either for good or for i'll.
The Huntington folks are out with another
report that Pacific Mail is about TO increase
its dividend rate AT present it is selling at a
ridiculously low figure; in fact, its price Is
even far below that OF non-divdeBd payers,
and IL there is any reason TO believe that
Pacific Mail is able TO hold its own the stock
could reasonably be bought.
There Is said to be a big short interest in
Tobacco, but this, il is believed, will pre-
vent any drives being made against the stock.
In fact II is the general opinion that the
whole market Is filed with shorts and thar
stocks will have TO have rally before they
can stand another serious set back
The Chicago market was not active this
morning and prices were firm at the decline.
Albert +. Miller, Jr., reports that the local
stock market for the week has shown some
little inquiry for the better class Of invest
ments Stocks, as rule, are freely offered
and some attractive lots are now 70 be hld.
The bank stocks have been little more ac-
tive and some few sales are noted at full
prices. The manufacturing stocks are still
quiet with no particular change in prices ani
no particular disl Osltlon 90 either buy or sell
The insurance list continues To be the fea; ure
of the market and Providence Washington j.
still much sought for, although IL Is generally
understood that there are some large amounts
hanging over the market awaiting top prices