The Providence news. (Providence [R.I.]) 1891-1906, 1897-01-14

The GOOD influence OF the arbitration treaty
a. already being felt In financial circles. Al
though the market has not yet fully Responded
TO this big bull argument, IL Is displaying
strength that will only tend In tho end 10
make the foundation of the advances more
Arm. This Is due to the fact that the FIN an
cial Judges, as a rule. have opinions similar to
that expressed by Joseph today:
1.-The general arbitration treaty will as
suredly be ratified In the Senate. There VIII
be some sparring, OF course, but neither kc-
publicans nor Democrats can afford to give
the treaty the 'go-by.
The bank rate is unchanged in London, and
Americans are firm at fractional advances
the gains extending from l-s to = for all ac'
tive issues New York forei,n houses VIII
buy little Louisville, st. Paul and Atchison
on ralance.
Price, in a special dispatch TO weeden, Ken
dali g. Co., says that the preliminary state
ment::of the export trade for the month OF
December shows that the market value OF
breadstuffs exported was ss,654,3ls greater
than for the same month last year The value
of the cotton exported was 50, iO6,sS' greater
than last December. For the calendar year
the exports of ,breadstuffs wero valued at
s54, 500, 900 more than for the previous year.
while the exports Of mineral oils werc so'-
1000 and provisions T,73s,0Oo greater than
during 1885, For the four months ending De
cember 81, the cotton exports were valued nj
$50, ,3ol, 900 more than for the corresponding
| period Of 1896
In relation TO this special dispatch 10
. Hallett. Anderson g. Co. states that one prom
| inent New York banker says that no man
who is familiar with securities can read care
Co. sha
| December 81 and not be bull II Is the key
| stone of the foundation for future prosperity.
| At present IL Is ignored, but IL viii nave its
| effect inevitably sooner or later
Wheeling touched the low point today and
Mason, In his special advicss toe. Franklin
| Nugent g. Co., says that in relation to this
| stock he is unable 10 tell anything about the
| value OF the securities, as he cannot place any
dependence upon the published reports In
his opinion, Missouri Pacific will some time
| 90 the same way, but whether in two months
| or two years he cannot tell, although he be-
/ lieves that its end Is certain.
There has.been considerable selling OF West
| ern Union during the past week on the theory
that the dull business must have an unfavor
able effect upon the company's revenues. In
view OF this fact, as well as the composition o
the Bell Telephone, certain good Judges hole
that the per cent. dividend will not be main
tanned. This is the secret OF the general sci
ling on any evidence of strength in the stock
The report of the earnings of Big Four fol
the first week Of January shows decrease Oh
SO, ,4e9. The decrease since July Is s'ls'3oa
Money on call in New York was nominally
l15a2 per cent Prime mercantile paper S7sa
per cent Sterling exchange hrm with actua
BUSINESS in bankers bills at i.s7l-als for de
mand and 4.s41 9as< for 90 days. Posted rates
a.s5als and 4ssa1a. commercial bills 4's3's
Silver certificates, "a 7-sa6514; no sales. Bal
silver, 64sl. Mexican dollars, 5Os4. Govern
ment bonds firm.