The Providence news. (Providence [R.I.]) 1891-1906, 1894-12-10
FINANCIAL NEWS.
More Encouraging Reports Heard Ali
Around.
Erie Liable TO Make AN Assessment.
Gold Shipments TO trance-Notes.
Special to The News.

are much more encouraging, and there Is
a decided disposition on the part of the
dry goods men 10 become interested, to a
limited extent, on the long side Of the
market.
ChicagoGas should sell higher. The point
was made that the forthcoming report
will make O most excellent showing. The
Bened lots aver that under any circum-
stances Gas Is worth 20. There is
also better feeling on all
the low priced Gas stocks. III. b. Hollins
a. Company are doing nothing in La
clede Gas, nor are they in sympathy with
any bull movement in this speciality
at this time, but other interests
have been quietly picking up the common
shares and it is intimated that one of the
old time spurts in these specialties may
be looked for. Bay State Gas is likewise
good for a long pull.
The feeling among the traders is more
hopeful than 1t was, and the impression
prevails that the market will broaden
and that higher prices will
be recorded between this and
the Christmas holidays. The partner
OF a Broadway commission house says: at
is useless to advise people 10 sell stocks;
they will not do 1t, nor do | think any
money will be made on the bear side for
some time TO come. Holders can afford
to wait, especially es they can
get money on loan at figures that will not
add appreciably to the present prices of
the securities, most of which pay divid-
ends that carry the stocks and take quite
q margin of profit"
Many OF the most prominent bear opera
tors recognize the improving condition,
snd although they are talking one way,
they are certainly not assuming any ex-
tensive risks, but are apparently satisfied
to scalp profits.
The cables from the other side are uni
formly hopeful, and the impression there
is that the next decided movement in
Americans will be in an upward direc-
tion. The buying of L. 4 N, for instance,
has been exceptionally confident. The
argument is logically made that il l.. d
N, even though it employs the proceeds
in improving the property, can in
crease the net over last year,
there is every reason 10 believe that with
improved times the company will be able
TO make full per cent. and pay its regu-
lar dividends on a per cent. basis.
1t is recalled that when st. Paul got
ready to resume dividends two years ago,
the stock, in anticipation of the action of
the directors, advanced steadily to 81,
selling materially higher before dividends
were resumed than it has since been
marketable at. ~
The bond market shows great strength.
1t is true that the dealings are not par
ticulsrly large, but there is disposition
to buy gilt-edged and second mortgage
securities alike and prices are on the up
tack. The volume of trading is limited,
but in the right direction.
Missouri Pacific is not likely to decline
much and the Gouldites believe tf7tr this
property has turned the corner and will
never sell again at the low prices at which
it was quoted few months ago.
The most important question before
Congress is the currency, and, as stated
on Saturday, the indications, notwith-
standing all the talk to the contrary,
are that something favorable in this
connection will be done in the course
of the next ten weeks. The Herald his
morning, in its special advices from the
capital, says: "The Democratic leaders
are trying hard to get heir party together
sufficiently in the Senate to en-
able them to carry out at least
a part OF the program mapped out by
the caucus, and they say they will be
successful. With the tariff bills vir-
tually abandoned, there is some
chance of the Democrats getting to-
gether with reasonable unanimity on the
measures they have laid down in heir eau
Gus program. The question upon which the
strongest efforts will be concentrated in
both houses is the banking and currency
bill. This is to be made the leading
measure.
General Financial Notes.
There is no doubt but that at the next
meeting of the st. Paul people they will
take action looking to the filling of the
vacancy in the directory, and the gentle
man closely In touch with the Vanderbilt
and Standard Oil interests declares that
the stock will sell at 50 before it touches
30.
1t is now definitely settled that the Van
derbilt directors will declare their regular
dividends and this action will not fail to
give q further stimulus to general specu-
lation.
Liverpool opened IL down easier this
forenoon. On any break is thought that
moderate purchasers will pay. There
seems TO be plenty of cotton at all the
railroad stations and interior points III
the South.
Liverpool later advanced one half point.
There was considerable interest regard
ing the bids for the 100000 New Bedford
4s bonds, the question being raised whether
the bonds would go upon a 31a per cent.
basis at 1924. Blodgett, Merritt & Co.
secured the bonds at 1O9.Sl6. The bonds
were awarded on the lowest interest basis
at which New England municipal bonds
have been awarded since 1890, except
Boston and Providence bonds, which are
legal investments for New York savings
banks.
Information has been received that Erie
stockholders may expect an official notice
soon that they must submit to an assess
ment TO pay the floating debt, or prepare
for foreclosure.
Sundays Sun has an important article
TO the effect that a Standard Oil party has
bought large amount OF Sugar, and that
this interest forced the declaration OF the
3 per cent dividend, in spite of II. o.
Hsvemeyer.
As London Is lower again some realz-
l..