The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-27
FINANCIAL.
Market Hinges On the Northwest
Dividend.
Sugar as Viewed by a Boston Sugar
Observation-Disclosures Need Not Worry
When Company is Loaning Millions.
Special 20 The Selos.

NEW YORK. Now 2z.-London un-
changed.
The action of Northwest directors today
will map out the course OF the weeks
market. From the best opinions TO be
obtained there Will be reduc-
dividend is announced, Sugar, IN which
there is good buying at o7A, Will be bet
ter.
The annual report OF New York, Lake
Erie and Western for the year ending Sep
tember 80 last. will issue today, and VIII
probably make the worst showing In the
history of the road.
The fall of Silver in London Is on re-
port that Japan has accepted peace pro-
posals through America.
A Boston Sugar man says cit Is ell nom
sense to talk about the sugar company
not earning its IL per cent. dividend.
"The stock holdersneed not worry when
the company is loaning millions on the
street, and / have not heard Of the COM
pany calling any OF it's loans.
see In New York they say the
company is working on raw
Sugar, which costs cents per pound and
they are selling the granulated product at
3.9S. Wall street endeavors TO ngure
closely, but the bears will miss their guess
this time"
st. Paul is considered cheap at 5sh.
Bulls say that il l.. & N. is worth 5i and
is a non dividend payer, then St. Paul Is
not too high new.
New York holds on the transfer book
of c. Il. q @. more stock than ever before.
Boston has sold 1920 to New York per
balance.
Further Developments in ID. G. +. are
expected shortly and there is talk Of fur
ther working capital needed. Also that
the president will bring the matter before
a meeting of stockholders soon.
commission houses selling.
Corn opens easier on heavy receipts and
selling by receiving houses.
Oats are easier with Corn trade very
light.
Provisions are shade easier on buying
of Pork by commission houses.
The earnings of the Southern Railway
| for the third week of November increased
| S24.SS6.
Northwest directors have decided
! that the first public announcement of the
| dividend shall be handed TO the chairman
| OF the New York Stock Exchange and VIII
| be by him publicly announced.
| The market is still uncertain. The bond
| issue is a great success, but about offset
by weakness of Northwest. Short interest
still large and would prove unwieldy II
| Northwest pays a free dividend.
The annual report of the Lake Erie &
| Western for the fiscal year ending Sept,
| 1894, shows a deficit OF u, ,l67, ,407, not in
eludina the loss ON The Chicago X Erie,
and the Union Steam boat Company.
The interest in default on funded debt is
| e, 16o, ,S44.
Cotton futures opened steady at the ad-
vance; sales, 16 300 bales: Dec, 5.S5; JAM,
! 5.9i; Feb, 500; March, 6.G5; April, COS
May, GA; June, 6.19; July, 6.23; Aug,
| 6.27.
Speculation on the Stock Exchange was
| generally heavy at the opening and the
market took a downward turn. Canada
! Southern reached "a, Northwest and Esie
/ "a, Northern Pacific preferred q, New
| YORK Central h and Sugar, st. Paul, Bur-
| lington and Rock Island *.
At noon money on call was easy at per
cent. Prime mercantile paper 234 to pei
cent. Sterling exchange dull aud steady
| with actual business in bankers bills at
| 4.S7M to Az for demand and ass TO 4.S6h
| for 60-day bills; posted rates 1851 to
| AS7h and ass to 4.SSh. The trading was
very light on the Stock Exchange
| Alter IL o'clock break oi
| IL per cent was made In Erie, making a
| total loss OF per cent. Laclede Gas and
| Tennessee Coal and Iron declined * and
Cordage preferred u. The active list
has been very quiet and is with
out change OF importance. There has moi
been sale of Chicago Gas up 10 this
hour. The market is now steady; sales
| TO midday 5000 shares, including 81 ,Z9(
! listed and 1900 unlisted.