The Providence news. (Providence [R.I.]) 1891-1906, 1894-02-28
The FINANCIAL NEWS.
More Gold Exports Are Talked OF
Very Strongly.
Higher Prices on Railway Stocks
Looked for Soon Westinghouse
Electric Co.'S big Increasc-Gossip.
sneeial 10 the Ners.

NEW YORK, Feb. 2S.--The continued
strength in exchange causes renewed Talk
of gold exports Chicago Gas still af1ected
by the ordinance rumors. The talk In
Chicago is very confident. st. Paul divi-
dends will be 2 per cent. London comes
slightly higher than the close here. III
looks as il there will be a sufficient pro-
tective duty on refined sugar, but nothing
is definitely known as yet.
Talk last night was very bullish on the
railway stocks and higher prices are ex-
pected.
1t is claimed that the annual report OF
the Westinghouse Company for the cur
rent fiscal year ending next month, Will
show a net increase OF upwards OF $l,-
1000 or about 20 per cent. on the stock.
IL legal steps which have been taken ut
Milwaukee are successful the Wiscon-
sin Central Railroad will pass out OF
the hands CT the receivers in short
time. In railroad circles it Is
understood that the Wisconsin Central
was forced into a receivership not by its
own weakness, but by reason OF the fall
ure of the Northern Pacific to continue
the lease and to pay expected rentals.
Foreigners bid for arbitrage shares but
did not buy much yesterday.
Macy e. Pendleton and Scheff bought
Sugar; Pearl Il Co. bought General Elec-
trio.
Yesterdays Market.
London opened fractionally higher yes
terday except for st. Paul and Louisville
q Nashville. The action OF the Senate
caucus was interpreted as bearish on
stocks, because it developed the fact
that the Democratic Senator'S had
agreed to abide by the decision OF the cau-
Gus. Notwithstanding this the market
opened Arm, especially for the lndustrials.
Among these General Electric was notice.
ably higher on buying that was con-
sidered good, and the report was given
out that the business OF the company
was improving. st. Paul was feature OF
the morning. This, together with Wes-
tern Union and Z. Ii. Il g., was quietly
bought and, it was said, for the short ac-
count. This movement continued through
the day except for an hour about noon
when the dullness was extreme. Prices
closed but fraction below the best OF the
day
II was given out that the New England
receivers would issue 81 500, 900 certificates,
and that those in control would not
0ntQXOulZe tHc EtW io"ot 40
New England had given up the idea
of New York entrance. There was
another rumor that the Wisconsin Cen
trail and Great Northern companies were
about to effect close traffic arrange
msnt. Tho report of Mr.. Gladstone's 8
resignation did not bring out any foreign
stock, although 1t was stated that there
was much excitement in London over the
rumor.
The news from Washington has not
been important, but what has come
from there has not been in favor OF
the Industrial stocks. On sugar the
feeling in the Exchange is rather
more buliish, Dut III Is
admitted that insiders will not allow much
OF the advance at present; hence no one
cares to trade freely or be largely long
until definite results have been arrived at
i'm Washington. Wheat has been firmer
by covering by larger shorts In Chicago.