The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-14
FINANCIAL NEWS
There is Not the Most Rose
ate View in Wall Street.
Russell Sage Talks-The Bond Syn.
dicate-General Notes.
Special to the News.

| NEW YORK, Feb. A.-While a good
many traders are inclined TO look
for sharp, and In no few instances
sustained rallies in the market, those who
are giving the most serious thought to
Wall street affairs are not taking the most
roseate view that might under ordinary
| circumstances be looked for.
Russell Sage says: 81 cannot advise
| anybody to buy the Western stocks at
this time. The earnings that are reported
in most cases weekly and in isolated
| cases monthly show that these corpora
tions are doing very bad business" Mr..
| Sage said OF Manhattan: awe carried
$4,000 passengers yesterday, the day not
being particularly fine, or We would have
| had more.u
"The test Office receipts OF Western
Union, "A hours ago." he also said,
SHOWED that we were handling more
business than for the corresponding
period last year. Our receipts increased
nearly $780,"
This item is very important because it
must demonstrate that whenever busi-
ness Is to be done, the Western Union is
called on to handle it. People who
hold the stock need have no fear
about the continuance of their dividends.
They will be paid regularly and promptly,
and at the meeting four weeks hence the
executive committee will unquestionably
recommend the full and regular III per
cent.
As matter of reference, and for the
benefit OF those who have not waded
through the Washington advices, the
following extract concerning the
agreement of the Morgan-Bel-
mont party will prove inter-
esting and will be easily digested
since it contains the full gist of the con-
tract: The syndicate merely agrees to
pay for the bonds in gold and bring one
half OF this from Europe, but only at the
rate of 100000 ounces per month, unless
the syndicate chooses to import it faster.
No arrangement is made for supply
ing moro gold nor for controll-
ing the exchanges; nor does
the syndicate, ms generally supposed,
agree that it will not subsequently with
draw from the Treasury any of the gold it
pays in. The only thing, besides taking
the bonds, which the syndicate agrees to
do, is to make all legitimate efforts TO
protect the treasury against Withdrawals
OF gold, pending the complete perform
ance of this contract.
In reference to possible further issues of
bonds, it is merely stipulated that il the
treasury desires to sell any more on or be-
fore Oct. /, they shall be first offered to
the syndicate. In other words, the syn
dicate WIZ use its influence to keep the
exchanges favorable while it is importing
the gold to pay for the bonds, and in re-
turn 1t gets an option on any subsequent
issues.
Today's Stock Board.
WALL STREET, Feb. 14.-The stock
market opened strong and moderately
active. Tobacco advanced IL per cent.
to SO; Reading, Is, l.. q n. Is; General
Electric, ", and ST. Paul. Union Pacific,
Atchison, Northwest, Missouri Pacific and
Chicago Gas, *. The latter reacted.
Cotton.
Liverpool cotton sales 10000 bales; fu-
lures steady at 2-64 advance.
1t is said that 10000 bales will come
into sight in New York this week.
Cotton--Futures opened firm, sales
1900 bales. Feb, 5.44; March, sac; April,
5.52; May. $50; June, $780, July, 5.63; Aug.
5.67; Sept, 5.72; Oct, 5.7s; Nov, 5s4;
Dec, $50.
Liverpool Wheat is firm and unchanged;
Corn quiet and unchanged; Paris Wheat
10 lower; Flour Is lower; Berlin Wheat
y mark lower.
Tho Price Current says: "Weather
conditions are retarding the marketing OF
grain and enlarging the demand for Corn
aud other feeding material. Milling call
for Wheat continues good, but small off,
erings restrict operations and Flour stocks
are lessening.'
Wheat opened weak; trade small. The
local crowd was selling.
New York wheat receipts, 1900; sales,
10000 market dull. May, 5sh TO 6sh;
July, IS 13-16a59.
Linsced OIL Agitation.
CHICAGO, Feb. 1s.-Minority stockhold-
ers in the National Linseed Oil Company
made a vigorous effort to place re-
port of their own board OF directors
at the annual meeting OF tho
corporation. They tried in addition to
postpone the election and compel an ex-
animation OF the company and lastly,
they tried TO secure the cancellation OF the
debenture bonds OF the company. They
failed In all these attempts for President
Euston and his friends carried everything
before them.
Railroad Earnings.
southern-1st Feb, s34i, i,497; dec. s17,-
155.
NJ. P.-lst Feb, s322, 900; dee, $4,000.
st. l.. Il $. W.-lst Feb., s9s,6OO inc.,
$500.
NJ. N.--1st Feb, s73, ,257; dec. s249s.
T., st. L. & X. C.-lst. Feb, s25,s5i;
inc, s2675.
U. r., ID. d G.--Jsn., s24l, $40; inc.,
s22,s9i.
The Wool Market.
At first glance the market would seem
to be rather quieter than IL was last week,
which might perhaps he attributed to the