The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-21
FINANCIAL NEWS.
Substantial Rally Looked for In the
Next Few Days.
More Gold Shipments Tomorrow.
st. Paul Situation-Notes.
Special n The Neios.

days will probably witness substantial
rally.
Railroad securities are no longer lodged
In weak hands, and unless conditions
grow materially worse than they are for
the moment, long holding will not be,
forced up. The prospects that there
will be something done at WASH
ington during January on the
currency question are more promising
that they were even as hours ago and 1t Is
conceded that IL anything is accomplished
in this direction, 1t must enable business
men, manufacturers and railroads to re-
cover some of their recent heavy losses.
Liquidation has been thorough In almost
every particular.
When the directors of st. Paul meet on
March IA they will, 1t is thought, declare
the regular two per cent. on the common
shares. 1t Is not 80 much the question OF
paying out 1900, 900 especially, as Ii Is one
of further undermining confidence in
American properties. Europe, which is a
large holder Of the stock, has had more
than its share of disaster In its specula-
tions and investments in our railroads.
To pass the dividend on st. Paul because
the company has barely earned the
amount, or that because few months
further depression In business Is likely,
would be to cause greater uneasiness in
speculative and investment channels
abroad than could the elimination OF un-
toward events.
Everyone who has studied the report OF
l.. s. q M. 9. comedies that it Is one of
the cleanest and most comprehensive
railroad documents that has ever been
given out and will certainly have q ten
dency to restore confidence in the Van
derbilt management. 1t Is very few rail-
road companies, the capitalization OF
which runs up into the millions, that could
go before the people at the end of the
year showing surplus OF but SIS, $40. The
item in itself Is insig nificant and the least
discrepancy In any OF the many accounts
that the railroad company carries
would Offset this alleged gain in the
years surplus, but the most
expert statisticians believe in the whole
someness of the Vanderbilt report.
Another thing largely in favor Of the l..
S. Is that the company has not added
dollar To its capital account in IL years,
and everything in the shape of expendi-
ture is charged to operating expenses.
Cotton futures opened barely steady;
sales $500 bales. Jan, 5.4S; Feb, $50;
March, 5.56; April, Sol; May, 5.66; June,
$40; July, $40, August, 579; Sept, 5S4
offered; Dec. $40.
The general stock market opened irreg-
ular.
General Financial Notes.
Hosker, Wood q Co. will ship S400, 900
gold tomorrow and may increase to
$500, 900.
Monday, Tuesday and Wednesday viii
be holidays in Liverpool no markets.
An Indianapolis special says, president
ingalls,, of the Big Four, arrived in this city
last night. He expressed grave doubts as
to the probability of the passage
of the Patterson pooling bill.
He says the Pennsylvania Company
is now insisting on an amendment TO
the bill and il the amendment is not
withdrawn, it will probably kill the BILL
Lazard Freres will ship s75O,OOo gold to-
morrow.
Ladenburg, Whalen & Co. will ship
S1,0o0.O0o gold by tomorrow's steamer.
London is unchanged.
The interest on Cordage bonds was
advertised this morning as payable at the
Manhattan Trust Company.
1t is rumored that II millions of Read
ing IS have been deposited.
The speculation continues largely pro-
fessional In character.
Late Financial Notes.
New YORK, Dec. 21.-Reading is strong
on Philadelphia purchases.
Chicago Gas rose on small purchases by
traders.
Wheat rules steady. Special advances
from Chicago state, however, that the
visible supply is as big as a mountain.
1t is Sugar market. Sugar will un-
doubtedly sell much higher and, 1t is be-
lieved, will reach 125 before 1t reacts
to SO.
The report sent out about corner to be
made in Gas is utterly irresponsible. At
today's meeting OF the Gas Board
it will be officially announced that
everything is settled SO far as Chicago Gas
is concerned, referring to law suits. The
company is said to be making more than
its dividends.
ID. G. +. does not act as II IN assessment
will be Immediately asked from the stock
holders.
1t Is thought the disbursement that will
be forthcoming between this and Jan. IS,
will pave the way for distinct appreciation
in the market value OF dividend and nom
dividend shares alike. The bond market
will likewise offer good many chances
for those who are on the alert for bar
gains.
Missouri, Kansas & Texas seconds. in
terest on which will be paid in February,
should be bought right here. They are
certain TO show an advance between this
and the date on which the maturing
coupon will be paid.
Providence Clearing House.
The clearing OF the Providence banks
today amounted to ts17,700.
New York Stoc k Ouotaesoua