The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-21
FINANCIAL NE WS.
Deal Between Metropolitan
Traction and Elevated.
Resumption Of Dividend on Lead
Common Quite Probable.
Special 10 The News.

NEW YORK, Aug. 21.-The strength
of the bond market must be regarded as
an evidence pure and simple, that invest
ors are still anxious to buy first-class
properties, feeling satisfied that the pros
perity Of the country Is now practically
assured for some indefinite period
Speculation during the next go days VIII
un4uestior ably turn not only to the dlvi-
dend- paying stocks, but likewise TO the
low-priced specialties The absorption
OF the Gould properties OH even mode.
rate declines is sufficient guarantee that
pronounced movements may be looked
for In these specialties, and that with the
return of Mr.. George Gould on Saturday,
he will devote considera BILE more time 10
the active management OF his various
companies than he has done at any time
since 1893.
There is no doubt that some deal
will be made that will lead TO more
friendly understanding between the Met
ropolitan Traction and the Metropolitan
Elevated corporations.
MIR. Sage, who was reported TO have
sold a great deal of Manhattan on the last
bulge TO 119, has certainly been giving
some support TO the stock since IL broke
TO 1928. There is likewise little doubt
that OF all the stocks on the list, there is
| none that from an investment point OF
view is as cheap as Manhattan.
While professional scalpers are inclined
! to contest each and every advance that
takes place III the market, those who are
ordinarily the great factors on the Dear
side attach seemingly less importance 10
| the gold exports than those who persist
| emily hammer the market suspect. There
is no doubt whatever that TWO at least,
of the oldtime prominent bear campaign
ers have taken in their lines OF stock ana
are now getting hold Of some securities
with the intention of keeping them for
the big money that will eventually be
found III them.
! 1t is conceded by all that the crops
along the line of Rock Island are excel
| lent and President Cable assures those
who rely upon him for the best kind OF
| inside information that there Is posi-
| lively no risk in buying Rhode Island at
| these prices. 1t is more than probable
that in the fall the company will return
| to per cent. basis, ii being claimed
that the earnings for the present year
will be larger by 3 per cent. in the net
than were those for 1894.
The directors of National Lead are try
! ing to arrange meeting for tomorrow,
at which il is probable that some action
| will be taken looking TO the resumption
| of dividends on the common shares.
There has been good buying OF Lead FOR
some days and it is one of those indus
trials that had no rise all through the
| bullish campaign.
London is Il lower for st. Paul and L.
& N, and 3-S lower for Reading.
| &. G. G. x st. Louis earnings for the
second week of August increased S12, 1856.
Treasury gold, by the deposit OF e, 000,-
600 by the syndicate yesterday, is about
S101, SOC, 900.
Joseph says: "The directors Of the
Lead company will meet tomorrow and
1t is probable that the dividends will soon
be resumed on the common. There is
good buying Of this stock. The weekly
corp report makes an excellent showing.
-. ~ t.l. a.
Bull g. B. O., st. Paul and Rock Island.
Insiders feel confident that Sugar will
sell away up. Whiskey is good for turn
upward of point or two"
ToDAY's STOCK BOARD.
WALL STREET, Aug. 1.-The stock
market opened firm on a fair volume of
| business. Sugar and Tobacco sold freely
and receded H. and 3, per cent. respect
lively. The railway list displayed ten
deucy to higher figures.
Share values received a decided impetus
| in the direction of higher figures after
| 1915, Minneapolis & st. Paul second pre-
ferred rising 3-S, and the first preferred
| 1. Lake Erie * Western preferred rose
4 2; Leather preferred, l 7-S; common, /;
Susquehanna & Western preferred, ] 5-S;
Tobacco, 3-S; Wheeling & Lake Erie pre-
! ferred, lii. Rock Island, l per cent.
Sugar rallied %, but later ruled at the
low figure. Tobacco went down rs
| from the top Manhattan showed marked
weakness and reacted 3-S per cent.
! Manhattan loomed into prominence
after midday. The shares rose 2l2 per
| cent. to 116, receded to 1143, and reacted
| to ISL. Sugar and Chicago Gas were
| irregular on narrow scale. The Grangers
made fractional gains, thereby attaining
the best figures OF the year, Burlington
excepted.
| MONEY.
| WILL STREET, Aug. 21.-Money on call
easy at 1 per cent. Prime mercantile
| paper, 3la0424 per cent Sterling ex-
| change easier and a shade lower, with
actual business in bankers bills at
4. 1914 (d4 1919 for demand and at 4s9G1
4. .S9lt for go days; posted rates, .S9ieCd4. 80
and 4.90l2@i91; commercial bills, 4SSli
| 4.sslo. Silver certificates, 67d67li. No
| sales. Bar silver 66 5-S; Mexican dollar,
53l. Government bonds firmer.
NEw YORK STOCK oUorArioNA