The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-06
FINANCIAL NEWS
Bulls Are Making GarIands
Of Hay for Themselves.
Talks on Sugar-Manhattan Good
Stuff = General Gossip.
Special TO The News.

Special TO The News.
NEW YORK, March Elm old Roman
days a wisp Of hay was fastened to the
horns of dangerous cattle so that the
world might take the necessary precau-
tions and thus avoid harm. The bulls,
judging from their expressions of conf-
dence as to the immediate future, are
making for themselves garlands Of hay.
They threaten to become most aggressive.
They insist that the short interest in the
general market has not been as large as
1t is now in many months, in fact not
since the Barring partcs OF 80. The out
standing contracts are not limited 10 the
Western shares, but are likewise extraor-
dinarily large in low-priced Vanderbilt
issues, in the Industrlals, and even in the
gilt edged properties, which few months
ago it would have been simply heresy to
have shorted. IL there should be no un-
toward circumstances, then a concerted
effort will be made, one in which some OF
the most prominent capitalists will join,
to lift the speculation out of the slough
of despond and bring about more buoy
ancy than has been since the rally that
followed the Cyrus w. Field panics in
'S7. 1t is conceded that the actual condi-
tion may not warrant such a pronounced
movement as ixas then experienced, but
the short interest will unquestionably
form the bas for a strong, substantial
rise.
There is, of course, some disposition on
the part of conservative operators to
wait until action has been taken on inn
portant dividends. The directors of Sugar
Company should meet tomorrow and act
upon their statement for the past three
months. There is difference OF opinion
as to the amount that will be paid to
stockholders, but those who are watching
the market closely and base their judg-
ment upon the manipulation of Sugar.
feel satisfied that the dIrectors.will not
deviate from their policy and that per
cent. will be declared.
IL is rrobabl that the Sugar statement
will be tort rthcoming in a few days. The
snnua! port was promised months ago,
but has failed of naturalization. Now
that Congress is out of the way and there
is nothing to fear from adverse
legislation, the lower Wall
street magnates may conclude
that "honesty is the best policy"
and in giving the results of their years
operations may safely leave it TO the
stockholders to determine whether Sugar
certificates are reasonably safe to hold as
legitimate dividend earners.
st. Paul will probably be erratic until
the directors take definite action on the
dividend. The meeting will be held at 2
o'clock Thursday afternoon of next week,
and the deliberations OF the board will be
known before the close of the market.
The transfer books for the payment OF
the Western Union dividend will close on
the Goth Of this month. The executive
committee will, on Tuesday next, recom-
mend the formal payment OF Ia per cent.
On April Is a statement for the winter
quarter will show that s1,400,000,
equal to about rs per cent.
on the stock, has been made.
Comparatively, Western Union may
not be the cheapest stock on the list, but
it cannot be gainsaid that the stock is
largely held by small investors, and while
money continues at its present low rate ii
is unreasonable to expect that any extra
ordinary sales of 3 per cent. yielder, the
market price of which is some points be-
low 80, will take place.
Manhattan is as good as anything to
hold. The earnings of the company have
been larger for this quarter than Tor the
corresponding quarter last year and the
report will show he Improvement for the
30 days aggregated 100000.
Railroad Earnings.
Mex C.-4th Feb, s1s5,233; dec, s41l1.
G. x T.. I.--4th Feb, S75,SS3; inc, 5000.
ID. & r.. G.-4th Feb, s121, 200; inc,
5000.
st. L. & s.-4th Feb, s1Ol 800; inc, s15,-
700.
c. & w. M.-4th Feb, s2961O; inc,
sl524.
ID. l.. & N.-4th Feb, s1s,525; inc,
s262s.
L. & Nth Feb, $3.50, ,5i5; inc. s31, ,73s.
n. & With Feb, slS5,0O4; inc,
SO, ,297.
P.-4th Feb, $50, $50; inc, s26,773.
n. V, o. d With Feb, s7S,770; inc,
s12,755.
Can. Pac.-4th Feb, s27oOOo; dec, s1s,-
600.
c. & O.-4th Feb, s2O9, ,447; inc, 2,552.
C., III. V. Il T.-Feb., s179,i9i; inc,
s9i32.
NJ. & o.-Feb., $3.50, ,725; dec, s267 oil.
&. l.. d W.-Feb., s79,313; inc, s2i. .165.
Southern-4th Feb, dec, s2s,027; de-
crease for Feb, si55,735.
Today's stock Board.
WALL STREET, March 6.-The stock
market opened quiet but firm, the only
notable change In values being an APP
probation in Tobacco preferred OF 1 per
cent. to 105
Cotton.
The Liverpool Cotton market opened X
TO 1 per cent. better; estimated sales
10000. Futures opened steady with
moderate demand.
NEW York, March 5.-Cotton futures
opened steady, sales, 1900 bales. March,
$50; April, 5.52; May. 5.56; June, $50;
july, SEE; August, sec; september, $40;