The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-22
FINANCIAL NEWS.
Prospective Change in Lackawanna
Directory at the Next Meeting.
Opinions on Movements at Washing
ton-Railroad Earnings-Notes.
Special 20 he Ne,cs.


NEW YORK, Dec. 22.- With the declara-
| tion OF the New York Central dividend
| on Thursday next, and the directors will
| probably make IL the regular ~ per cent,
the critical dividend period upon which
| so many bulls based their hopes will have
become part of history.
| On Friday the Lackawanna directors
will hold their meeting and will for
mally declare ~ per cent. on stock. The
annual meeting, which will take place the
following month, will probably be impor-
tant since there may be a change
in the directory. President Sloan
| will of course continue executive.
| The Vanderbilts, however, are getting in
closer contact with Lackawanna than ever
| before.
| Reference has been made to the excellent
showing of the Lake Shore; that is,
upon the manner in which the Lake
Shore keeps its books. After the
Lake Shore there is, perhaps, no
better road in America than the
Lackawanna. The company, like the best
OF the Vanderbilts, keeps its ac-
counts In splendid shape and
charges to operating expenses
what other companies would carry over to
construction and capital accounts The
Lackawanns has for years been steadily
accumulating q reserve fund.
1t has in its treasury today sufficient
collateral to pay off its entire capitaliza-
tion, dollar for dollar, and there are S26,-
600 900 worth of Lackawanna stock.
| The coal trade, which has been below its
normal, partly owing to unreasonable
weather and partly to the general depress-
ion in trade, is said to be improving lit
tie and with anything of sersonable
winter the recovery will be fast and per-
menent.
| The formal abandonment by the Admin
istration of the Carlisle currency bill,
will cause little, il any, surprise,
and it is scarcely likely that
the substitute offered by Springer will
meet with any better success than the bill
which was approved a week ago by the
committee.
| The Patterson pooling bill will un-
| questionably open the way for railroads
making considerable money. The an
nouncement made by President ingalls, Of
the Big Four that the amendment to the
bill, offered by the Pennsylvania
company may, IL persisted in,
| jeopardize the original bill, need
not cause any alarm, for people who are in
touch with Washington aver that the
! pooling bill, in its original form, Is GER
tain to pass the Senate at an early date.
The trunk line shares will probably
have little squirt, not simply
because there is short interest
outstanding In them as much as
from the fact that the trunk line presi-
aents have taken to themselves the abso-
lutte power of making rates not only on
freight but likewise on passenger busi-
ness.
General Financ ial Notes.
a Liverpool special says: "Market dull !;
there is no business and the Christmas
holidays begin"
| 1t is thought Lackawanna may find a
| resting place around 10 in the course of
| the next few months.
The earnings OF &. {. c, & st. L., for the
second week in December increased
| Si4s5.
North Western for the month of Novem-
| Der decreased S239,00
Atchisop, for the second week in Decem-
ber, decreased S6i,6l5.
Washington advices state that Chair
man Wilson of the ways and means COM
mittee yesterday introduced bill in the
! House to repeal that part of the tariff act
which imposes differential duty of lilo
| Of a cent pound on sugar imported from
countries paying a bounty cn exported
sugars.
II is showing in Chicago and there is a
| cold wave in the Northwest.
Bradstreet says the exports from both
coasts of the United States OF wheat, and
| flour as wheat, were 3554, 900 against
2,536,000 last week and 2,650,000 in 1894
With gold exports so heavy and cur
rency tinkering, the outlook is not SO
bullish.
London is all down about 4 and is also
selling bonds in this market. There is
| little or no liquidation, however, and the
short interest Is beginning to increase
again.
The grand jury indicted w. ii. Hesel-
ton at Skowhegan, Me-, charged with
keeping common gambling rooms. He is
| local agent for Baldwin Brothers, Boston.
| They have offices in several Maine towns
aud cities and will probably make a test
case OF 1t.
The bank statement is expected to show
loss of about two millions In the re-
serve.
The movement in Sugar yesterday was
credited TO =. V. White, but above 90I5 a
great deal oil long sugar came out.
The stock market opened quiet and
| generally firm this morning. Southern
preferred and Reading sold 1-2 per cent.
off, but the latter regaihed 3-S, Pitts burg
and Western moved up 1-2 and General
Electric was weak, having gone back 3-4
| to 81.
| Here are some good points from the
weekly market letter of {. Franklin
| Nugent q Co.:
| In the Yosemite, the Wonderland OF
America, there is a geyser, Old Faithful,
which, at regular intervals, spurts. There
are also geysers that "spurt only occa-
sionaiiy, and nobody knows when those
"spurts" will take place. and three are gey-
sefs that never squirt.
From all parts OF the world people
journey thitherward that they might be-
hold this wonderful freak of nature, and
yet, upon the brokers boards, represent
Il = n