The Providence news. (Providence [R.I.]) 1891-1906, 1892-01-07
The FINANCIAL NEWS.

The money market still continues well
fhe quotations for to-day show but
slight variations, but those are Tor the
better The bid prices for stocks are low,
especially in the bank list. There are few
bank stocks which are not cheap at prices
bid and asked.
The strength In Third National con-
tinues. The bid has advanced from ~ 10
l0l, and there seems TO be a tendency To
support il in the price offered, and no
stock is pressing for sale.
The American Wood Paper Company
has been the subject of some comment be-
cause of the delay in issuing the certih-
Gates of the preferred stock. IL may be
noted in explanation that the cause OF de-
lay is largely due TO defect in the plate
originally engraved for the certihcates.
New plates are now being engraved ana III
Is expected that the certificates VIII DC
ready in about two weeks. part OF the
delay also has been due 10 the nee
essary absence of some OF the oflicers
of the company. who have been devotlhS
great care to the selection ana prepara-
tion OF the new machinery when SO 10 pe
put in place. IL is presumed that the
stockholders will not object To the delay
on this account when IL Is remembered
that the temporary extreme pressure OF
work is being met without any Increased
expenses and that the delay OF a week or
two i'm the issue of certificates is partly
caused by the close economy with which
the company is being managed \ stock
holders patience is never so great as
when he knows he is making money by
exercising It. The bid is slightly stronger
today for wood paper preferred.
In the midst of all the talk OF reorgani-
Zation, new officers and new management
in the New York and New England IL
must not be forgotten that there are
straws which indicate much in other direc-
tions IL has been but week or so since
n change was made in the board OF dlrec-
tors of the Boston and Maine. Mr.: q. q.
Haven n director in the New York, Provi-
dence and Boston railroad, was elected to
"a like position on the Boston and Maine.
The Boston and Maine has terminus AT
Worcester The New York, Providence ard
Boston reaches Worcester There Is a vast
deal of traffic that comes from the North
via Worcester for the Sound lines. The
N Y, II. a. B. has always carried large
amount OF IL, but with Mr. Haven in the
Boston and Maine board close traffic al
lance becomes a settled policy OF the two
roads.
IL will be remembered, too, that j.
Pierepont Morgan, director in the New
York, Providence and Boston, is also a
director in the New York, New Haven
and Hartford. This gives the New York
Providence and Boston directors in two
most important connecting roads ana
makes il virtually part of continuous
system that reaches from New York to
the extreme northern limits of New Eng
land traffic in three states and ITS branches
and main lines cover every New England
State.
The railroad question of New England
is rapidly shaping itself for n final settle
ment, and the day may not he far distant
when three or four companies at most Will
control all the roads now being operated.
Bank of Commerce is cheap at 55A, the
price obtained to-day, and the same is
true of Providence Telephone.