The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-27
FINANCIAL NEWS.
Chauncey Depew Says Something
About the Railroad Market.
Opinions on Chicago Gas--Genera
Financial Notes.


NcW Lear mas Decu ialKly well uSncfeu III,
there will be bull move-
ment OF no mean proportions
which will start with the railroad stocks
and extend all along the line. No doubt
people who have money are more anxious
than ever to make IL earn income and
interest. The products OF the country
are on such a low basis that 1t is impossi-
bic for them to fall below these prices.
investments must necessarily go into
bonds and stocks in order 10 make profit.
The Vanderbilt shares are likely to fare as
well as any on the list and there will be
good buying of New YORK Central by the
Vanderbilts.
Chauncey Depew, who has not been
talking very much of late, says that the
outlook is daily improving and
that, in his judgement, all the
roads will fare better during 1895 than
they are at preseTt doing, or have done
fer the past year.
While the feeling on the street is some
what blue and the complaint Is general
that IL ie hard Il make money, there is no
doubt that thf 80 who have been buyers
OF surface railroad stocks, as we'll as
stocks and securities generally, have made
considerabl profits during Inc past six
months.
The comparative strength OF Chicago
Gas Is regarded as an evidence that the
directors wilt formally declare the regular
dividend and thus put quietus on rumors
to the contrary that have been current for
some days.
In view OF the progress that rapid tran
sis hes been making, the bears promise To
pay ,me attention to Manhattan.
Vale the feeling is anything but bull
ish OH Jersey Central and predictions are
plentiful that il will sell at SIS, or lower,
the First National Bank partly promise
TO give some tangible support
| to the stock. The directors will meet at
the end of the month TO Gee are the divi-
dend, and President Baker believes that
| the fu.l one will be forthcoming. II this
should be the case, the bears Will find no
| little difficulty in recovering their shorts,
and Jersey Central has knack OF re-
bounding on buying orders almost as
| quickly as it yields 20 pressure.
Liverpool opened almost one point bet
ter than tho last closing; sales 10000.
This is better than looked ior, as the ma
iority expected decline.
General Financial Notes.
The gross earnings for Omaha for the
rnonth of November decreased Sl54,t94.
Chesapeake Il Ohio earnings tor the
Third week OF December Increased sl4, ,754.
Later advices report that Liverpool ad-
vanced " per cent. on cotton.
An authority on United States Cordage
Company affairs, says that there Is no cir
cular to stockholders IN preparation, as
has been inferred.
IL Is stated on good authority that IL
the regular 1h per cent. is declared in
cash he Chicago gas companies will have
| to borrow the money to pay IT.
The ZJ00 shares OF Old Colony stock to
be sold January o, by order OF the board
OF directors, Is Tor the purpose OF paying
tor improvements at south Boston, Brock
ton, and the raising OF the grade OF the
Providence division.
n dispatch f.om Washington states
| hat Chairman Wilson OF the ways and
means committee will make another at
tempt to secure reduction OF the pro-
lection affected In the German sugar
schedule OF the tariff bill.
{. Franklin Nugent O. Co., are Offering
1000 City Of Neisonviile per cent. bonds,
on bases that nets Il per cent. and
stronly recommend them, Gs the net
oebt OF the city is only siS,O0j ON an as
sessed valuation OF nearly one million.
Cotton futures opened quiet; sales, 1l00
bales. jan, 9. a; Feb, BOZ; March, 557;
April, 800 b.d; siay, 5.66; June, $40 bid
July, 5.75; Aug, BIG; sept, $50 bid;
Oc,., 5.S5 LiG.
The stock market opened firm and
higher for some shares, notably Reading,
which Was 1-2 higher, but reacted ga.
Cordage PREFER d rcocded 3-S, b I rallied
5-S. n. j. Z. anu Cotton Olt declined 4
each, the former, however, raliying l-2.
New York Central declined l-2. The
market is about steady.
The Wool Market.
The year ~ going out as usual with q
quiet market; nothing up to date has ap-
peared 10 rufile its cslmness. There Is no
continuous free business, although on
some days there are very consider ra bic
sales. Viewing the week as whole, IT.
may be said that all woods have been
moving In small way; prices are fairly
strong, little disposition being manifest.
TO concede anything. We do not perceive
sny quotsble change ia the range OF val
ues recorded last week. The consensus Of
the competent forecasts indicates n
reasonably good business after the holi-
days. Manufacturer are working up
etock pretty close. Australian wool at
present prices IL doing well; the feeling
seems to be that they are cheap at current
rates.
The sales of the week amount TO 2,al3,-
$50 lbs. domestic, and 491,550 lbs. foreign,
making total Of 2,eOi, 300 lbs. against a
total Of 1,s35,00o for the previous week,
and total OF 2,106, 600 lbs. for the cores
ponding week last year. The sales since
JAM 1884, amount to 142, ,73s, ,0s5 lbs.
against 124, COB lbs. year ago.
Sales I'm New York have amounted TO
10000 lbs.
Oa.,s an Philadelphia aggregate 7o3, 600.
l,rovfdeuce CLEARING Iiouse