The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-09
FINANCIAL NEWS.
Belief That Prices Are on the Upward
Trend Again.
Reading and Jersey Central-Bond
Issue--General Notes.

Special to The News.
NEW YORK, Feb. 9.-Traders still in
cline to the belief that prices are on the
upward trend and that speculation will
broaden during the next few weeks. Gen
orally with the approach OF spring wealth
er (although it is looking a little ahead,
and one, with the thermometer hugging
zero can hardly picture budding
trees and tropical fruits),
there will be more activity and better
prices for the general market than any
that have been experienced in many
months.
1t will be some days yet before he Read
ing officials VIII be ready to announce
their program, but 1t may be stated
on the very highest authority
that the condition OF the coal
trade is improving, and that better un-
derstanding than any that was thought
possible as recently as week ago, has
been arrived at between the diversified
anthracite interests.
The directors Of Jersey Central will meet
in due course to take action upon their
dividend and IL can be said on
the authority OF one Of the highest
officers OF that company that under no
circumstances or consideration will the
dividend be reduced below 6 per cent.
basis, and as the dividend payment has
only just been made at the regular rate OF
per cent, 1t Is impossible to even
forecast a reduction from the old-time
rate. Conceding that Jersey Central shall
continue to pay 6 per cent, there Is no
reason why the stock should not sci! at
110.
1t is confidently believed that the Coal
stocks will make an excellent record for
themselves, and competent judges COM
pute that the consumption for the winter
months this year will exceed that of the
past corresponding season by at least
$4,000 tons. These figures are signif-
cant because the increased output Will net
In the aggregate something like s11,0O0,-
600 to the companies.
The business of the Western Union has
been seriously interfered with because of
the blizzard.
The wires are down. all over the country
and this will cause an extraordinary ex-
penditure. Western Union last February
sold at s2A and the company was then
handling about thirty per cent. more
business than today.
General Financial Notes.
The London market is steady at New
York parity.
Liverpool cotton per cent. lower; sales
1000 bales.
Chicago advices state that the visible
supply Monday will probably not show
as large O decrease as last Mon
day, possibly not quite a million.
The decrease for the corresponding week
last year was 330,0 bushels. The trade
bulletins estimates that in the United
States and Canada the supply OF bread
stuff decreased about 10,0S0,000 during
January. Those in Europe increased
5,6O0,0o0 during the same period. Stocks
in the Uuited States are about IL ,120, 900
bushels more than one year ago, and those
In Europe about 20,600, 900 less.
1t looks as il the new loan was not going
to have an immediate effect on the stock
market.
Wheat opened Y TO "a mp on continued
steady cold weather and rather firm cables.
Brooklyn Wharf and Warehouse Com
pany bonds, offered the first Of the week
at subscription at lob, are selling today at
104h TO 105.
A dispatch from New York states that
at the request of large majority
of Whiskey stockholders the following
have been appointed reorganization
co mmittee of ID. c. F.: j. j. Waterbury,
+. NJ. Lockwood, }. s. Bache, II. B. Harts-
horne and w. +. Hutton. The expert on
the Whiskey Company's accounts
is said to have unearthed
a rebate of s49,500 paid Nelson Morris
under guarantee of the directors that
each steer fed by him in 1893 should yield
profit Of s10.
q. Franklin Nrgent & Co. are Offering
100000 City of Toledo, Ohio, bonds.
Toledo is one of the firstcities in the State
of Ohio, with q most excellent credit and
for a conservative, safe and choice invest
ment these bonds certainly commend
themselves to the investing public.
John 8. Earnest, representing 4. b.
Cuthbert & Company OF New York, is Wis.,
iting A. p. Weeden & Company this week.
f. b. Cuthbert Il Co. wire A. p. Weeden
Board OF Trade, as follows:
Railroad Earnings.
@. C. c. q st. Louis-Fourth week in JAM
uary, s3i4,095; increase, s41 ,56S; month,
1,04l ,3S9; increase, s101, lis.
Great Northern-Total for January,
sss1, ,93s; charges, 81 ,S37, ,l26; increase, si4,-
si2.
Union Pacific net for 1894, estimated
"a 800 900.
Chesapeake, Ohio & Southwestern, net
for December, s6S ,202; decrease, si351.
Year, net, s760, 1882; decrease, s62,332.
Illinois Central for the month OF Janu-
ary increased sS5, ,155.
Atchison system for the fourth week in
January decreased s97S3; for month, in
creased sif,651.
Bill TO Forfeit Lands.
WASHINGTON, Feb. 9.-The next move
Of the Western members who desire the
Government 20 'ske possession OF tho
hund-r idca pa, Sc i .fcnds for default
~. ..n .........a - hItn.I iona ~ la h. g.