The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-31
FINANCIAL NEWS.
Five Per Cent. Basis for Chicago Gas
Dividends.
General Wind-up of the Old Year.
Financial Notes Worth Reading.

sDecidl 20 the Ee,rs.
New YORK, Dec. 31.-The argument is
made that 1t will be much better for the
Chicago Gas property il dividends are
maintained upon per cent. basis.
The price Of the stock would not
suffer in he market in consequence, but
on the contrary would certainly improve
because the company would then bc In
position to build up its reserves,
whereas for the moment it is paying out
in dividends practically all the net money
it receives from quarter to quarter. With
out expressing any opinion as TO the
wisdom Of reducing the dividend
at this time, Il can consistently be said
that the Chicago Gas Company is earning
great deal more than it's dividends and
in ordinary times it would find no diff
Guilty in selling bonds in order to
provide for the construction that must
constantly take place in such large city
as Chicago Is.
The London market for American Sc
curities is strong, but there is still holi-
day business.
1t is evident that liquidations in Ameri-
cans has run its course and with any in
contive from New YORK prices will be
higher.
The Jersey Central statement for No
vember was just about what in
sidcrs expected it to be. IL marked
an improvement over the previous month,
and that was the main thing they were
anxious to notice. For December,
from present estimates, the same con-
dition continues SO that the management
feels encouraged. 1t Is understood that at
meeting of the directors it was decided
10 deduct from earnings a sum equal to
the amount of the income tax which the
holders OF the stock would have TO pay on
the dividends received by them for the
year.
"No cards and without regrets" Thus
is summarized the feeling as far as Wall
street is concerned, in general, regarding
1894, and in few hours its death knell
will have been rung. Not a
tear will be shed, not sigh
heard. There will be a few means,
perhaps, when the experience of the past
II months has been recalled and the
average man may echo the famous words:
"Is it worth while going through SO much
to learn so little?" as the school boy who
was learning the alphabet is made to say,
by Dickens.
In the course of time, three or four
months, there will likely come a change
very much for the better, but Jan. 2, 1895
is likely TO be SO much like unto Dec. 81,
1894, that those who hav2 an interest in
the stock market will scarcely recognize
that the leap forward has been made.
General Financial Notes.
London Is unchanged.
Gold in the treasury, SS6.3i9,500.
Tho present Reading plan will not sue
L.. -.
entail heavy assessments on thsjuniors.
Sterling exchange Is strong; two mill
lions will go out Thursday.
No cotton market in Liverpool today.
The treasury gained S65o,000 on balance
Saturday.
The author OF the last weekly letter is
sued by G. Franklin Nugent & Co. on FRI
day last, has let himself out ia the follow
ing vein:
A year ago, when the same hand tbst
traces out these weekly musings closed
the volume OF 1893 II was with words such
as these: cas- we close the year we close II
upon receivcrships and upon pnnics, but
tho grove digger Rcceivership seems now
10 be resting upon bis spade and as we
stand upon q be threshold OF 1894 and try
TO peer adown the long unfurrowed
avenues OF Timo we seem to see ray of
light. that bespeaks brighter day"
We do not claim TO be seers, nett her
have our rurs pccu tuned TO catch the-a,.-
cents OF the still small voice OF Prophecy
but the year justified our remarks. md
now as we stand al the turnstiie OF 1895
again anxiously striving TO know The un-
movable, we seem 10 see, as He OF olden
times saw in the kernel Of corn,
the premise OF the tasEeled stalk