The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-28
FINANCIAL NEWS.
No Foundation for Rumor Of Split
Among Chicago Gas Holders.
Lackawanna Directors Meeting.
Tame Stock Market-Notcs.
Special TO The News.

New YORK, Dec. 2S.-A sensational
story is going the rounds to the effect that
there has been decided split among the
insiders OF Chicago Gas ana that owing TO
these differences a marked change in the
policy Of the company, on the question OF
dividends, will be inaugurated. The
gentlemen in ques.io were asked what
truth, II any, there Is In the story, and the
reply came, "not any; the fact
is, the legitimate holders are stronger than
they ever were. These statements arc evil
IDENTIFY circulated for the purpose OF alarm
ing small holders and encouraging short
sales among traders and emanate from
utterly irresponsible parties. There has
been no split and there is no difference of
opinion on the question OF dividends.
The directors will be Influenced entirely
by the statement that will be submitted
to them and 1t may be said that the divid-
ends for the year have been made"
The directors of Lackawanna meet today
and the dividend will be announced. The
regular Ia per cent. will be declared, pay
able on January p. The statement for
the year will, oil things considered, be
fisttering, and after paying the dividends
and making necessary increases in equip
ment there will be q comfortable surplus
carried TO the reserve fund.
The Sugar people have not been doing
much OF late, but they promise to make
their stock as attractive as Of yore. Trad
ers, fearing that some new game may be
sprung on them, are not taking very
kindly to tho bull side of 1t. Their
operations during the past few days
have been based on the theory that the
chapter of accidents will favor the bears
on this stock. The lower Wall street
people, however, have O number of sup
porting orders in il, and while they con-
tinue to talk of the depressed condition
OF trade, they are seemingly willing to
buy it on very moderate scale. The
sort interest is being nursed, and with
any favorable change in the situation
Sugar will be rushed up few POINTS, as
it usually Is when traders look for
break.
Liverpool opened up with 2 per cent.
advance and steady. The advance Is at
tributed to the offerings of spot cotton to
that market and although every one Is
bearish here better prices are looked for
and purchases advised.
General Financial Notes.
Another tame stock market seems to be
foreshadowed by the opening. Dealings
were light through the list, and he
movement OF prices irregular. st. Paul
was in moderate demand at last nights
closing, while Nor; Invest was fract ctionslly
higher. Sugar was heavy at small de-
cline, but Gas and ID. Z. +. rose smartly.
The trade is local, but the tone of specula-
ton fairly steady.
b. q y. broke TO 59h. Tho earnings
have decreased considerably lately and
there is no support TO the stock. Very
little is done in it In the market and IL
went of easily.
The dissolution OF the bond syndicate
has had more of an effect on sentiment
than the Now York Central dividend.
London Is down u per cent.
Attorney General O.ney has given de-
cision TO the effect that oil cake, manu-
factured from insecd. is entitled TO a
drawback. This victory for the Lead
Trust.
IL is likely that little gold will be
shipped tomorrow, bat the amount will
be small.
The htchison plan is not formulated
yet, but rumor has it that the stock will
have to pay Sl2. ihe pan Is expected the
last OF January.
This morning Chicago Gas and Distill-
ing advanced 12 and SIS per cent. re-
spectively. Sugar was an exception,
breaking 5-3 hut raliying 3.S. Baltimore
a Ohio dropped 2 Ia per cent. TO 60 Id.
TIE marke; is still firm for the general
list.
Cotton-Futures opened steady at the
advance. sales 4,6c0 bales. Jan, Sos;
Feb, 5.5s; March, 563; April, 5.G3; May,
5.73; June, 5.7s; July, 5.s2; Aug, 5.s7;
Sept, offered, 6.93.
The Boston News Bureau today says:
at has been definitely arranged thst OH
and after January 1, 1895, the tranfers OF
the capital stock OF the Atchinson will
be made In Boston by Mr.. James Walker,
Jr., who has been appointed transfer
agent, with Office at 80 Milk street, this
city. No change has been made in the
transfer matters In New Yoak.