The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-25
FINANCIAL Ne WS.
Everything Hopeful for Strong
Bull Market This Week.
Railroad Earnings-Change in Gas
Plans-Generai Notes.
Snecial 10 the News.


sey Central Is claimed by one OF the in
short interest of long standing persist
emily refuses to cover. 1t has been bor-
rowing the stock for many months.
Those who are buying the stock largely
are especially confident that Jersey Cen
tral will resume its old position as an in
vestment stock, at much higher prices.
There IL most confident feeling on the
market and those leading bankers who
discussed the situation at the uptown
hotels yesterday, express the opinion that
the spring boomlet will yet develop into
an old fashioned boom. A more confident
feeling exists, not only on this side, but
in Europe.
Saturdays market did the street good.
There ives large general buying and a
spread OF bull sentiment very hopeful for
this week.
A trader who had quito an extended
conversation with the new owners in
Chicago Gas, said: "There is no doubt
in my mind that the present management
intends to reduce the rate of dividend on
gas to per cent. This was as good as
stated. The intention of the manage
ment is declared to be to run the property
wholly as q commercial enterprise and
without the least regard to stock values.
1t was intimated that the dividend period
would be made half yearly and that there
would be no dividend action in April"
1t Is understo od that the Reading Com
pany wants an old time money pool to
control the anthracite trade, in order that
penalties can be enforced for violation OF
the agreement, either in tonnage carried
or in the price at which coal is sold. Most
of the other companies oppose this idea,
because the failure OF the pooling bill
destroyed chances of making pooling
legal and they argue that no pool can be
enforced.
General Financial Notes.
The belief is growing that a deal has
been made between the General Electric
and Westinghouse companies.
The movement in the Southern secur-
titles shows no signs of stopping.
General McNulta is sole receiver of ID.
c. f. This is a grand victory for the re-
organization committee.
The dry goods firm of L. S. Jaffray is be-
ing wound up according TO the will of
the late T.. S. Jaffray. Two receivers were
appointed. The concern will show sur
plus OF over 3, 900, 600 at the lowest valua-
tion.
London is x higher for st. Paul and
l.. & n.
A year ago the New York banks re-
ported holdings of money TO the extent
of S249, 500 900. A little over two weeks
ago they had decreased to 1854, ,7s1, 900 or
more than S9i, zoe, 900 in about l3 months.
Time collateral loans are quoted in
New York at 8 to per cent. and mercan-
tile loans at TO 8 per cent.
The Bell telephone board OF directors
will be increased from IL to 13 tomorrow.
Chicago Stock Yards net earnings are
reported to have increased $4,000 in
January and $4,000 in February over 1894.
Cotton.
Liverpool cotton futures 2 points ad-
vanced, tone firm; sales 10000 bales.
A seat in the New York Cotton Ex-
change recently sold at 5000.
New York cotton futures opened steady
at the advance; sales 1900 bales. Jan,
Gas; April, 621; May, 6.26; June, 6.25;
July, e.2s; Aug, $50; Sept, $50; Oct,
6.35; Nov, 6.3s.
Railroad Earnings.
X. c., NJ. & B.-2d March, 1888; dec,
S1l52.
f. & p. Md March, s5l,7is; dec,
1886.
G. & G. w.-2d March, s6s,7ls; dec,
Si5,742.
G. list March, 1886, PAS; dec, s11, ,56s.
T., A. II. & N. Md March, S2OO55;
dec, s2sl3.
T., p. & w.-2d March, s19,Ois; dec,
sl2iO.
st. Paul-3 March, dec, S5S,59i.
Today's stock Board.
WALL STREET. 1915 a. m.-The stock
market opened strong and active. Lacka-
wanna advanced ~ per cent, to 16ih;
General Electric, q to 37A; South
ern preferred and Nickel Plate, Y
aud the general list is to 3-S, outside OF
Distilling, which is of 1-2, and Manhat-
tan Trust receipts 5-s. New Jersey Cen
tral opened rs higher at 81 1-2, reacted to
90 ga and is now up to 9s.
II a. m.--The advancing tendency con-
tinuod for but brief time after
1915 a. M, but meanwhile Great
Northern preferred jumped per cent.
to 107; Hooking Valley III to 66h;
Missouri Pacific, 1 to 24A; Peoria q
Eastern, to 3ih; Pacific Mail, x; New
Jersey Central, z to 9sA; and st.
Paul, Omaha, Erie preferred and
Cotton Oil, u. A raid was then