The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-15
FINANCIAL NE VS..
Reading Railroad Stock About
Ready for a Little Boom.
Bright for ST. Paul-Higher Sugar
Bounty General Notes.
Special to the News.

NEW YORK, March 15.-The leading
officer OF one Of the largest roads in the
West, who does not wish names to be
published at present, says: "We were
all surprised this week 10 get return of
earnings from the system for the first
week and find it showed an increase. 1t
was the first increase we have had
for at least year and we hard
ly know what to make of it.
We want to wait another week TO see IL
it will keep up before we crow about it.
IL 1t does keep up, 1t means great deal
10 every road in the West, because it will
mark a decided change for the better in
the general railroad situation. These
better earnings of the Western roads at
| this time are the more remarkable because
of the absence of any special crop move
ment. The business is made up
almost entirely of miscellaneous freight.
III the railroads can make such a good
showing on simply miscellaneous traffic,
their earnings will be all the more pro-
nounced in increase when they have a big
crop TO move.
The dividend on New York Central,
1000 shares, sold last night for 1k. This
simply means that A bet b s125, since this
sum and nothing more is involved in the
dividend.
st. Paul sold in the street at 55A which
was "a above the last official sale. The
impression among shrewd traders Is that
St. Paul will have a rally and will cross
90, The declaration of the / per cent.
dividend was generally commended as
conservative and likely to encourage
holders TO maintain their position, parti-
cularly as the future for st. Paul will be
much brighter than was the recent past.
There may be little further drive at
Sugar, especially as the bears attach con-
sidera BILE importance to the fact that the
German state council committee on agri-
culture voted, as was expected, in favor OF
raising the bounty. There is not likely TO
be any big break in Sugar, and those in
siders who have been persistently buying
and supporting il ever since the dividend
was declared, say that IL will sell very
much higher before it reacts sppreciably
from the closing prices of last night.
Reading is getting in trim for little
advance. 1t is certain that IL the presl-
dents of the various coal companies come
together and settle upon living policy,
Reading will be improved as much as any
OF the high priced coalers; hence the ad-
visibility OF buying some of the stock for
turn is apparent.
There was better feeling in the mar
ket all day. Traders were the principal
buyers, for they found the tone favorable
to advance. Commission houses had more
business and there seemed TO bs.but little
stock for sale on the advances.
There is very little doubt that the in
side interests in Jersey Central have lately
been large buyers of the stock. Whether
ta Eoa h,o g. k.,, ~ oh II inn
decline and operating against short in
terest, or the recovery of long stock sold
above 100 is uncertain. The buying how
ever, has made an uneasy feeling among
shorts, particularly in view of the turn
against shorts in Sugar. The knowledge
of the agreement between the soft coal
producers also had some effect, it being
argued that if so or 90 soft coal producers
could come to an agreement, five or six
anthracite presidents could be pretty GER
tain to agree within a reasonable time.
Cotton.
Sales in the Liverpool cotton market,
1900 bales; future / TO IL points ad-
vance; firm tone.
decline of a half point was reported
in Liverpool Cotton before the opening,
and this, together with heavy port re-
ceipts, probably 5000 bales, induced
some realizing.
Some Inside Information.
NEW YORK, March 15.-There was a
good deal OF buying by bears on stop
orders. The sensation Of the morning
was the appearance on the floor OF MIR.
John lnman, who has not made personal
appearance on 'change for six years.
a.. 4 81 A,,t Ia.
appearance set the local gossips TO talking
and all sorts OF rumors were cur
rent as to the cause OF his
visit. Mr.. Inman's name has
been used in connection with a supposed
corner OF May. The sharp uplift was at
tributed largely to Mr.. Inman's visit, as
the timid shorts thought they saw n
sharp advance in prospect.
"" Railroad Earnings.
Atch.-1st Mar. inc. s21,7i9.
&. &. 4. Il st. List Mar, inc. si93i.
". T.. St. Ry.--1st Mar, 5000; inc, 1888.
NJ. Il st. List Mar, s2S,s7l; dec,
s4s27.
st. L., A. & T. B.-1st Mar, so, ,42O; dec,
s2720.
New York Central Dividend.
NEW YORK, March 15.-Just before
noon the New York Central declared a
dividend OF per cent, being 4 per cent.
reduction. Since ~ O'Clock the stock has
been selling ex-dividend.
The New York Central reports for the
quarter ending March 81 deficit, after
dividends, OF s599,6O), against a deficit in
1894, Of A. 55.702, or 81 per cent. on the
stock, a sInst .98 per cent. In 1894. For
nine months the company earned on the
stock 2.S5 per cent? against 3.59 per cent.
in 1894.
General Financial Notes.
At no previous time has the dividend