The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-18
FINANCIAL NEWS.
Vanderbilt Shares in a Much More
EnviabIe Position.
Prospects for ST. Paul's Spring Divi-
dends-Chicago Wheat Quiet-Notes.
Special to The News.


NEW YORK, Dec. 1s.-The Vanderbilt
shares are In a more enviable posit ion than
they were couple OF months ago. The
short interest Is known to be great In n.
Y. O., and efforts have been made TO cover,
but there is as great scarcity OF the
Central. The Vanderbilt people make no
secret OF the fact that the earnings
that a few weeks ago were showing losses
from 100000 TO 100000 a week are now
picking up SO that the results for the year
will not be appreciably, il at all, behind
those for the corresponding II months.
The periodical attack on Gas, accom-
panied by the usual number of runners,
has been made. There is positively no
truth in the report that the directors
intend to pass the dividend. The
fact OF the matter is that the
regular one and one half per cent. Will be
paid III due course. very strong bear
party has been formed i'm Chicago Gas,
with the avowed purpose of putting the
stock down.
The earnings of st. Paul for the second
week OF December, showing loss of but
S22, ,226, are much better than has been
looked for. ST. Paul and &. B. &
@. are both entitled to more
strong capitalists express the opinion
that buyers OF ihese stocks will not have
long to wait before they bag quite SUBJ
stantial profit.
WsSssra Union, waica has held re-
markably firm and does not yield more
than a fraction under pressure, is hooked
for an sdvace IN the almost immediate
present.
General Financial Notes.
Standard Oil interests, vs. hich are known
TO be behind St. Paul, talk In no uncertain
tone. Those who doubt the ability OF st.
Paul TO pay the spring dividends can, il
they desire, sell it for ! x psr-cent- In
siders believe that il viii be the regular
two per cent.
III Chicago wheat opened quiet and
steady, with prices a little firmer If any
thing.
The stock market opened dull and firm.
The early trading resulted in but few
changes OF note. Chicago Gas gained x
and Jersey Central =, while Burlington,
Northwest and Sugar eased of *, but the
latter regained the loss.
Cotton-Futures opened steady; sales,
$500 bales. JAM, 5.4S; Feb, 5.52; Mar,
5.57; April, 5.62; May, 5.67; June, 5.71;
July, 5.75; Aug, $50 bid; Sept, 5.s2 BID;
Dec, $40 bid.
London is one-eighth better.
The decrease in st. Paul earnings shows
a decrease of nearly S20o,ooo from 1892 and
1881.
1t is asserted that Chicago Gas has no
Oh hand in cash.
4 l. h.
ing Zone and one half lower), and taking
III short Cotton on declines Is advisable.
Review of Yesterday i'm Brief.
London prices came generally firm in
tone and our market opened barely steady
with business very limited in volume.
Some effort was made by the bear traders
to break the market in the early dealings
on the engagements Of gold which were an
pounced from time 10 time and amounted
in all to S1,750,000, bat the effect was
rather to restrict trading than TO depress
prices. a slight demonstration was made
in Chicago Gas on further unfavorable
rumors in regard TO the dividend,
and there was also moderate selling
of G. B. & O., but in general prices held
fairly steady and fluctuations were con-
fined within narrow limits. Sugar
opened at various prices, ranging from
92A TO 91l5, but soon recovered ana
during the early dealings improved
OH expectation that the Supreme Court
decision in the Sugar case mlght be rem
dered today. This information turned
out, however, to be premature, and from
this time forward the stock was quiet and
firm, between 92k and SO. In the
later dealings the speculation
took on a frmer tone on n reduction
in the rates OF exchange, but the trad
continued very limited With no changes
OF special note in the leading speculative.
Final prices showed fractional gains for
Sugar, Reading, n. Y. e n. t., st. Paul,
Erie end ID. G. f., and losses for North
west and Chicago Gas.
Providence Clearing House.
The cleariugs Of the Providence banks
today amounted TO Sl,l16,9J0.