The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-06
FINANCIAL NEWS.
Disappointment at the Sugar Divi-
dend Declared.
Belief by MANY That the Havemeyers
Have Lost Control-General Notes.
Special to The News.


NEW YORK, Dec. g. Thirty three
above; dull and cloudy.
Sugar was 80, bid by score of traders
yesterday after the declaration OF the div
idend, and one sale took place at 90A, the
stock being bought on an order from Bos-
ton.
Shrewd judges of the market were under
the impression that the stock would open
particularly excited today, and that prices
would range from 30 TO 81, but
they said, s.as 10000 shares or more have
been bought by brokers representing he
Hsvemeyers, IL is not unlikely that por-
tion of this speculative line that averages
about So will be thrown on the market at
the first favora bic opportunity.
Sugar, as the experience OF the past
week has shown, ~ not a safe stock To
gamble in on the short side. No reliance
Whatever can be placed upon the utter
ances of the officials, snd, under The cir
cumstances, those VINO wish to trade In
Sugar had better "copper everything
the Havemeyers say.
After the adjournment OF this Congress-
by which time another dividend Will be
due on Sugar, the Havemeyers, having
two full years TO do as they please, viii
unquestionably make their certificates the
banner bearers in Wall street. Temper
ariiy the stock will move within radius
of 10 points.
The Granger stocks are likely to occupy
a great deal more attention in the next
few days than they have in the past. Ii
is certain that the situation, as far as
legislation Is concerned, is improving.
Notwithstanding the apparent weak
ness OF st. Paul and the heavy
sales for London account, recently
made, IL can be stated absolutely that the
strongest interests that have ever been
identified with 81. Pau are buying the
stock and at the forthcoming meeting OF
the directors the vacancy will be filled by
interests that stand very closely to the
Vanderblts.
The First National Bank party, for the
first time in weeks, are advising their
friends to buy Jersey Central. The dtv1=
dends will be continued and while the
year thus far has not been profitable, the
stockholders may rest assured that they
Will get per cent.
General Financial Notes.
A. IL. Coombs and Company were the
prominent buyers OF &. B. d O., and Lon
don houses bonght 2500 st. Paul.
The &C ivity was exceptionally strong In
Sugar, 10000 shares having changed hands
| in the first half hour, or over 20 per cent.
Of the total amount outstanding.
BY the way, the fact that the regular
| dividend has been declared on Sugar Is
construed by some people as evidence that
the Havemeyers have practically lost con-
troll of the company, because 1t is well
| known that they vigorously opposed the
| previous dividend and were very out
spoken against the regular dividend this
| time.
Government guesses are that only
| 40,000,00 OF wheat have been fed 70 tive
stock. III this is so, look for wheat to sell
| of temporarily.
A direct Liverpool cable, regarded as
| very reliable, says: Argentina wheat
! crop positively % per cent. short" The
| liberal buying by Milmlne and Bodman
! houses is supposed TO be on this news.
Missouri Pacific earnings Tor the fourth
week in November increased $1,000.
J.. " N. earnings for the fourth week in
| Novem ber increased S30,03
TIE general market promises better un-
| less gold shipments are announced.
II the bears cover the Changers TO any
amount they will be a sale for turn.
The pooling bill before the House is
/ looked at as bull factor.
The general impression was that sugar
| would open up and then sell of. Every
/ body Is decidedly mixed oni
| Liverpool Cotton opens with two points
| advance on spot sales; 10000 bales.
Gwynne Brothers were large sellers of
| Sugar al the opening.
The announcement that Sugar divi-
| dends were all payable out OF earnings
made prior to September l, was
| construed as meaning that the Sugar Com
| pany has made no money since sept. j,
1894, in its business. Senator'S who at
| tended that caucus Tuesday afternoon
| told friends that il would apparently be
impossible to change the Sugar schedule
at all this session.
London is irregular but with st. Paul
up a.
| The recent order for 40 motors, or %
car equipments for the West End Street
Railway Company, was divided equally
hat m h. nj
Electric Companies.
Corn is moving more freely, but inn
! portant further gain is not likely.
Cotton sales, 5000 bales. January 5.6i,
February 5.69, March 5.7l, April 3d. May
5S3, June 5.SS, July 593, August $50,
| December 5.65.
Improvement was noted this morning in
| Southern preferred OF z and Burlington,
| Pittsburg N Western preferred, &. Z. 4. d
st. Louis and Southern Pacific OF =.
Review of Yesterday in Brief.
London prices came in considerably
| lower, the market there having been af-
fected by rnfavorable rumors in relation
| 10 st. Paul, and our market opened at q
interest OF the speculation CEN
| tering in the Industrial shares
the movement In Sugar was an extraordi-
nary one, even for that stock, the opening
| price showing an important advance ano
| during the early dealings under heavy
transactions further progress was made
toward higher prices, the buying move
mont naturally giving rise TO p number
OF rumors, but from it, persistence II be-
| came rumorcd that the regular dividend
| would De declared on the common stock
consequently there Was tremendous
rlsn to buy FOR both accounts.
Chicago Gas was sdyauced rapidly, and
covering by shorts was feature IN
e., 3. x q. and Northwest, but St.
/ Paul continued heavy under sales
/ for foreign eccount. ID the later
| dealings there was further cover
/ ing ia I. B. & O., but Chicago Gas was
heavy, and elsewhere fluctuations were
narrow and unimp0rtant. -ctc-e
showed gain OF 35s for Sugar, frac-
tional advances for G. B. n q. and North
west and losses for Jersey Central and st.
| Paul.
Tac Wool Market.