The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-05
FINANCIAL NEWS.
ST. PauI's Statement for January Will
Be Very Good.
The Bond Issue-Coalers Improving.
Sugar Higher--Notes.
Special to The News.

NEW YORK, Feb. 5.--The insiders OF the
st. Paul say that the forthcoming net
statement for the month of January VIII
make a very fair showing. They insist
that while gross returns fell below the
official estimates, the company, neverthe-
less, succeeded in reducing its operat-
ing expenses to sufficiently low
level to more than Offset the decrease In
gross revenue. II is still insisted by those
who are in a position to know that the
directors will have positively no hesi-
fancy in keeping st. Paul in the dividend
paying ranks, and that IL there should
be a slight Improvement in business
the board might stretch a point and
declares IL per cent. dividend for the
reason that Indications all point to the
one conclusion, that business will inn
prove later In the spring, and that the
western railroad companies will have
comparatively more business to handle
than they have carried in very long
while.
Louisville & Nashville is in good condi-
tion for an advance. All reports TO the
contrary Notwithstanding, the company
will reenter the dividend paying ranks
some time or other this year. 1t Is the in
tcntion OF the board to get sufficient net
revenue together 10 practically in
sure the payment OF dividends
on per cent. basis for
from II ito Is months and these ends it
is confidently asserted, will be reached be-
for the expiration of 1896.
1t is known that the official proclama-
tion of the 800, ,0O00 900 bond issue on a 3h
per cent. basis, IL years to run, will not
be made until Friday. There is
little il any doubt, however, that
the larger portion OF the issue will go to
Europe and that gold will be supplied by
London to thesxtent of about $50, ,000, 900.
AS far as the immediate market is con-
cerned, the impression prevails that the
coal stocks, particularly Jersey Central
and Delaware q Hudson, which have been
laggards will be taken in hand.
The earnings of Jersey Central are pick
ing up and the outlook is decidedly more
favorable than it was 90 days ago. The
LackawaniIa people likewise feel encour-
aged.
Eventually Sugar will sell very much
higher, but for the moment no particular
effort will be made to boost the stock.
There is no doubt that the directors will
declare the 3 per cent. for the quarter, and
IL is ar absolute fact that the company
has cash which, If distributed, would
equal something over $50 per share for
every share of its outstanding common
stock.
General Financial Notes.
Liverpool per cent. up; sales 5000. The
market is steady for cotton.
Wheat on the curb last night was easier.
Corn acts heavy and great many believe
May corn will set at AZ this week.
Eastbound tonnage holds well, accord
ing to q Chicago special. The total for
the week was 81 ,256 tons, against 54 1868 in
the previous week and 43, ,722 last year.
The Union Pacific announces that it
has decided to open up the Oregon Short
Line for all passenger business delivered
to 1t over direct routes. The refusal to do
this heretofore was the cause of the boy
colt against the road.
The State gas inspector of Indiana has
madeTpublic the statement that Indiana's
natural gas supply, at its present rate of
consumption, will be exhausted in four
years.
There seems little hope for the Springer
bill.
The weakness in Sterling gives color to
the rumor that block of thu new bonds
are already negotiated abroad.
London 1-8 better, l.. Il N. leading.
Texas Pacific for the fourth week In
January increased s1S95; Ontario & West
ern, S33SS.
Wabash earnings for the month of Jam
uary decrease S25.
Cotton futures opened steady; sales
2500 bales. Feb, 5.39; Mar. 544; April,
$40; May, 5.52; June, 5.54; July 5.57; Aug.
5.62; Sept. 5.65; Oct. 5.7l; Nov. $40; Dee.
5.ol.
Providence Clearing House.
The clearings OF the Providence banks
today amounted to $4,000.