The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-10-12
MARKET NOTES.

I has denied the petition for rehearing
the famous Cloverleaf railroad cases.
This practically disposes of the litlga-
ton and leaves the road in position to
be taken out of the hands of the re-
ceiver.
Some brokers who like to make a
study of the matter, yesterday estl-
mated the amount of outstanding shorts
in the market at 300 600 shares, Of which
they place $4,000 in Brooklyn Rapid
Transit and 10000 in Sugar Large
handlers of stocks in the loan crowd
disageed with these figures, and esti-
mated the entire short interest in the
market at not over 225,000 shares.
Market support seems lacking in lake
copper, ana the tone indicates a re-
Taxed tendency. 1t is certainly appar-
ent that the quotations by mining com
panies of 1Slsc. is at present much more
nominal than real
Bankers recognize the fact tina. until
there is a decline in Bank of England
discount rate, lower interest charges
here will lead to shipments of gold tc
the other side, The balance of trade
in favor of this country is very large,
and will become more pronounced as
the exports of new cotton and wheat
get under way. Gold is, however, a
commodity which goes wherever ii
brings the best return.
The sugar market in the west and
south is reported to be more democrat
ICED than here, with price cutting by
jobbers almost everywhere and the fac
tor plan entirely abandoned The story
which originated in Philadelphia that
the trust was about ready with plan
of compromise with the independent re-
finers is not credited in the trade.
The situation abroad, apart from the
war scare, continues to show increasing
ease, with accommodations in stocks. Ar
example of this is shown in the increase
of 10000 bushels in Liverpool local
stocks in warehouses, a figure about
three times as large as the correspond
ing date q year ago. Farmers deliver
les and imports into the United King
dom further show the easy statistical
position of English markets. Since Aug.
these have amounted, according to
the Chicago Economist, to 29.6000G0
bushels, against 26,7O4,000 year ago,
and 1892, 600 in 1895. corresponding per-
iods.
Boston Consolidated, 71k@S; Elm Ri1-
er, S15@S% Amalgamated, 92@92k
Helvetia, 125@131a; New England Gas
& Coke, 26@27; 5s, 7SQS0; Little Tiger,
$L95@$2.
At the annual meeting of the Boston
and Maine railroad, yesterday morn
ing, directors were reelected, and the
purchase Of the Portsmouth and Dover,
the Portland, Saco and Portsmouth, and
the Portland and Rochester roads We're
approved President Tuttle stated that
there is not the slightest foundation for
reports of any sale combination, con-
solidation, or any change in ownership
of the property.
Boston curb prices: Boston CONSOLE
dated g.; Elm River, 81R@SA; Anal
gamated 92@921s; Helvetia, 1211Q1312 !;
New England Gas & Coke, 26027; 5s,
1880; Little Tiger, $1.95@$2; Fortuna.
so, so and 55c.
The New York report that the Penn
sylvania railroad directors are consid-
ering the advisability of declaring an
extra dividend Of 1 per cent On the
stock is not accepted at Philadelphia
as having any basis in fact 1t is known
that the policy of maintaining q per
cent dividend at all times, regardless OF
the earnings, which has been followed
through long period Of years, is ia
vored by the present board of directors.
In confirmation of this, a director said
The company has paid its dividend
through fat and lean years without
deviation, and the way we are able to
accomplish this is by laying aside the
surplus in such prosperous times as the
present in order to have a reserve upon
which to draw when the earnings re-
turn to low ebb'
1t is expected at the treasury that
banks to considerable extent will avail
themselves of the secretary's action an
ticipating November interest. 1t is not
thought that they will apply to any ex-
tent for interest on which the rebate
has been fixed. 1t is probable that,
should the money market continue
stringent, notice will be given that jan
uary interest win be paid without re-
bate.
The decline in Planters Compress
stock is ascribed to liquidation by a
large New York stakeholder unable to
borrow on the stock. The company
new presses are bailing an average of
40 bales Of cotton per ten-hour day. The
hay baling machines are proving highly
successful, and the government will bid
for 5000 tons Of hay in Lowry bales, it
having been demonstrated that great
saving can be made in shipments to
Cuba and the Philippines by using the
round bale.