The Providence news. (Providence [R.I.]) 1891-1906, 1893-12-12
Tho Ste sdlness of Prices.

The Ste idlneSs of Pricea.
II causes surprise i'm the minds OF close
observers OF Wall street to note the ten
acity with which prices have held in the
face of the dullncss and the apprehension
that exists and is growing as to the effect
OF tho proposed tariff legislation.
There is but little prospect of ought but
a narrow professional market. Advices
urge the confining OF all purchases to the
weak spots made ON bear raids.
1t seems very nearly impossible to create
any speculative interest on the side OF the
market. The poor earnings, combined
with the fear OF legislation, gives to the
hears fresh courage, while 1t deters any
bull movement.
Union Pacific receivers have not yet de-
termined the date of payment for Nov. /
coupons, but in few days the money
FROM the trustees OF the Kansas Pacific
consols will be on deposit and date will
be- announced for the payment of Nov.
coupons 50 far as ordered by the court.
Increased Trading.
There was an iDcrcascd volumn OF trad
ing Yesterday. The total dealings amounted
to 2l5, ,275 shares. The renewal of activity
was at tho expense OF values though ma
toriai uCt declines wefc not frequent, a
general carly decline being partly recov-
cred toward the closo on the buying in OF
shorlsand tho bidding ofthe room traders.
London houses both bought and sold; the
business for that account being about
equally divided.
One prominent lender OF money said
yesterday that tho Atchisou officials could
have all tho money thcy wanted at low
rate OF interest inside OF "A hours. A
company, he said, which reduced its float
ing debt s3,0O0,0Do IN the trou bles of June
and August will not have to go begging
for money when there is s75,O01,019 of
surplus funds in the Now York banks.
Tho Western Union executive commit
reo VIII today recommend the usual divi-
demo OH l'4p per cent.
dividends Declared.
Move comes from Boston that the West
End Siroct railway common dividend
of 3 per cent. instead of per cent. was
declared payable jan. 10 to stockholders
81 retord today. This Is n cut OF ! per
cont or common. The regular dividend
Is suppvDred cn preferred.
Manhattan Elevated directors declared
the regular ~ per cent dividend today,
paynblr Jan. 2. The books close Dec. 10.
surplus earnings for the current quarter
arc expected TO exceed 3h per cent. and
for ibc calendar year 10 exceed q per cent.
The Western Union declared its regular
dividend today.
other p9iu's.
The immediate speculation on ID. c. +.
will DC governed by the tax. II nothing
Is done II will go down four or five points
and then advance on the earnings.
Louisville and Nashville earnings for
the first week in December shows a de-
crease OF "a, f30.
An officer OF one OF tho trunk lines said
"We are making absolutely no money
The continual problem il how TO reduce
expenses to meet the curtailment OF
revenue
shorts have covered so far today about
1900 sharesof stocks.
Chesapeake end Ohio earnings fo- the
frst week in December show a decrease
OF S32,76j.
The General situation.
The influence OF easy money Is no longer
operative. The money Is still here
nearly s2Oo.0oO,Oo0 idle in bank vaults
but tho bullish sentiment IL created has
about vanished. In its place is rational
disposltion 10 regard conditions. Even II
here were no such inclination, the latter
are such o. the speculative community
could not long ignore.
Railway officials OF acknowledged abil-
ityand hncncicrs OF long experience have
been expecting what IS now taking place
"a regards income and general business.
"A ~. W.rs the situatiou L. a0-