The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-09
FINANCIAL NEWS.
Inside Tips From Washington on Cur.
rency and Pooling Bills.
Situation of the Coalers-Sugar People
Hcsitate-Gossip.
Special 70 The News.

NEW YORK, Jan. 9.-The feeling on the
market continues TO be hopeful and there
is 10 doubt that if, as is now
generally believed will be the case,
Congress acts promptly on the currency
bill, an improvement of no small calipre
will be recorded In the course of the next
20 days. Although the adyices from
Washington anent the pooling bill are as
conflicting as can well be imagined, those
who are in possession of the best kind of
information believe implicitly that this
all important railway measure will be
rushed through to a successful result.
The bear party that has been aggress-
lively active against the coalers processes
to be more antagonistic than ever TO
these interests. They assert that people
will awake to the fact that the declara-
tion of dividends, as was the case by the
Jersey City directors, is not conservative
action, but is one of the best devised
means imaginable TO wreck a property
and to bring 1t permanently low in the es-
timation of all honest investors and others
The directors of the Northern Pacific
continued to pay unearned dividends for
years and when the crash came the stock
broke in very fem months from 7S down
to under r. With tho Atchison the ex-
perience was identical. The directors
were not satisfied with paying per cent
unearned dividends, but in order to find
a market for their stock shey raised the
ante to z per cent and Atchison never
sold as high again as it did in the two
weeks that elapsed between the declara-
tion of that dividend and the payment
thereof.
There is difference between conserva-
tive action as was the case with the Van
derbilt directors at their meeting last
month, and with the board of manage
ment OF the North West. There is no
doubt that the North West did make the
full 2R per cent. that it declared.
1t is by no means certain that there will
be any meeting of the stockholders of
Sugar today, for the reason that III. o.
Havemeyer has the grip and it may not be
convenient TO have quorum of the
directors present. IL is certain that
the Sugar Company is not over anxious to
make known its exact position to the
wide, wide world. IL the Sugar Company
was in the dire distress that many OF he
Insiders depict, there would be no hesi-
fancy in making a fall and complete
statement, in which would be shown
those enormous earnings made prior to
September, 1893, which permitted of the
the accumulation of reserve fund
amounting to several millions.
Going For General Electric.
NEW YORK Jan. 9-Prepartions have all
been competed for concerted attack on
General Electric. Those who fe.i the
stock short will be, as they richly
deserve, severely mulcted before they
get through with their deal. IL Is
stated that IL General Electric did not
make another contract until the end of
September it would still have sufficient
business on hand to keep the company
fully emplyed for the nine intervening
months.
Wocrishaf'er g. Go. say OF the attack:
"Wc are promised The long threatened
attack on General Electric tomorrow.
The instigaiing source Is well known
and the methods adopted to acquire
what ia alleged as Inside
information are not very creditable
to human nature. To work on tho feel
ings of discharged employees and then exc
cute revenge through the abuse OF trusts
might become sneak thieves, but even
Indians would hold such con-
due; in contempt. The writer has seen
the proof sheets in advance and the
venom and malicious motives therein
clearly shown should utterly destroy its
effect, even IL he statement were truc."
Cotton Firmcr.
Cotton-Futures opened firmer; sales
400 bales. Jan, 5.56; Feb, 5.57; March,
6.61 April, 5.66; May, 5.7l; June, SIC;
July, 5.si; Aug, 5.S6; Sept, 5.Ss.
General Financial Notes.
Chicago Gss is booked for stil fur
ther rise. Thcrc is no doubt but there h
an extensive short interest in that 81 ock.
The Changers are suffering somewhat