The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-22
THE FINANCIAL NEWS.
THE BUSINESS OUTLOOK rs BhiR
FROM ESCoURAGISG.
Another Panic Threatening and Receiver
Conservative and strong.
Special 10 The News


| New YORK, Dec. 22.--Lower prices are
| a shade above the general level this morn
| ing. Atchison u better. The Trunk
| lines committee met yesterday ana agreed
10 restore rates to the old figures on
Jan. 1.
The treasury balance is s9l ,42o,6o9.
Western railroad managers say
that times cannot be worse than
they are now and look for q change for
the better the early part of January. The
market for today shows lower. New YORK
Central for Dec. 81 quarter earned SUD
more than the dividend on e9,0OOOOO OF
stock. III its entire 100000,000 had been
outstanding there would have been de-
ficit at the same rate of dividend.
The December quarter is the best quar-
ter for Eastern Trunk lines and the out
look for next year Is poor. Roads, new
branches and leases are Improbable with
out doubt, and as the new stock has
reason why prices should be
held above par. There are many
bears on the property and when London
holders appreciate the facts OF the conn
panys position heavy selling may be
looked for.
Atchison ID rect, ,Ts Meet.
1t Is rumored that Atchison directors
will meet today in Boston to determine
the question OF January interest.
Bears in Control.
The market seem. destined to go from
bad TO worse, and the bears have extended
their operations, being flushed with sue
cess. The situation Is mixed and bids
fair TO remain so.
It must be borne in mind that prices
have steadily declined. The market may
sell lower and with the disinclination TO
enter into new engagements until after
the new year it is not likely that any ex-
Al. hff
there is large short interest. Almost the
entire following of the street has become
arrayed on the bear side and a twist OF
this short interest should occur.
Conditions are adverse TO present inn
provement and all that may be
hoped for is occasional rallies when the
market becomes oversold.
After the close last night receivership
rumors in connection with the Atchison
were thicker than ever. The basis for
them seemed to be In the story that coun-
sci for the company had suddenly started
for the West.
The man who can guess the best is the
one who is most likely to make the most
in whisky.
Attacks on Chic1go Gas.
The attacks on Chicago Gas are
based on the reduction in the
price OF gas that goes into effect
Jan. I. The bears argue that the COM
pany's earnings will have TO be per cent.
greater in 1894, to permit of the same
distribution TO the stockholders as has
been made in 1893.
There is good deal ofgossip current to
the effect that there is big short interest
in wheat at Chicago, some OF the commits
sion houses asserting that there IL at
least $1,000, 600 bushels OF shortage there
over and above the stocks in store. This,
not unlikely, is an exaggeration as there
loa f. .,lo lootf f1x anrer h
activity in the market TO enable the
putting out of such tremendous
line. As IL looks now there
seem to be little indication of much inn
provement in the price OF that cereal until
after the new year, or until after some
feature developers OF which the present
position gives very little warrant for an
ticipating in the immediate future.
The closing of the st. Nicholas bank
and the indications OF an approaching
crisis I'm Atchison's affairs, intensified the
emphasis which generally unfavorable
conditions are exerting on the security
market. Pronounced declines were the
rule, moderate ones the exception.
attempts to Torcs Ecceivsrships.
There seems TO be concerted attack
upon corporate credits as the January
scmi-annual disbursement period is APP
preached. The professional Wall
street element is making stren-
uous efforts to force rcceiverships
for oil properties they are short OF. These
efforts should prove boomerang to those
willing TO adopt such measures for pc
cuniary gain.
There Is perhaps no better indication of
the confidence in the return OF general
business prosperity than the recent an
nual dividends OF the savings banks. The
December dividends OF many of
the banks are made on basis
OF 4 per cent. instead OF 3h per cent. as
wns common in the past. Another en-
couraging feature is the announcement of
one Of the largest life insurance compan-
les in New York that after Jan. 1 IL will
entertain propositions for reduction in
the rate of interest from 6 TO 5 per cent.
on all its loans on real estate.
New England Gossip.
A good authority on New England mat
ters says: ''The break in the stock has
disarranged the plans of New England
people materially because they do
not feel as certain as they
did that the proposition to
lease the New England and Northern
line will be approved. 1t is true that
the books closed before the stocks
broke, but the point Is
made that holders OF record
might be challenged as TO whether they
were still stockholders and the changes
have been so great as 10 arouse question
as TO how the holdings stand"
The Baltimore ann Ohio directors have
declared a semi-nnnual dividend OF per
cent. on the preferred stock.
Nsw York Stock Quotations