The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-17
FINANCIAL NE VS..
UnaccountabIe Difference in
Prices of Bonds.
Government Crop Report-Local
Market Active-Notes.
Special 10 the News.


ings per mile of the four principal Granger
roads last year were very close together.
Rock Island earned about $500 per mile;
Northwest, 5000; c. b. & O., $500, and
St. Paul about $4,000. The relative net
were even closer, Northwest 1890 and
the others 1880, and the inter-
ests and charges were also ex-
ceedingly close, Z. B. q O., 1890 aud the
others 1900. The most pronounced dif-
ference was in the ratio OF operating cost.
In Rock Island this was lila; G. B. q O.,
6S.3; Northwest, 65.3 and st. Paul, 64.2.
On this showing the difference in the
price of the bonds OF the different roads
is greater than earnings justify.
The directors of General Electric yester-
day adopted the annual report. 1t will
make O good showing for tho year, the
earnings having increased md there is no
floating debt. There will he writing off
of some OF the securities on account OF
depreciation in value, bat the patent ac-
count will remain undisturbed.
The feeling on Sugar is very confident
and while the certificates may recede in
sympathy with the decline in the general
market they may be safely bought and
held because they certainly will sell very
much higher in the almost immediate
future.
Traders as general thing are OF reac-
tionary turn of mind and they expect the
active and inactive stocks alike to yield
moderately. Considering the extraordi-
nary buying for London account and the
improved feeling abroad, there 10 adecided
lack OF animal ion here.
The announcement that all negotiations
between the electrical companies are off
may cause further selling OF General
Electric, in which the short interest il
large, but considering that the General
Electric people themselves decline to pro-
ceed further with the Westing ghouse, it
can only be remarked as an indication
that the General Electric people are in a
much stronger position than the street
gives them credit for.
The earnings of st. Paul for the second
week OF April are Q disappointment. The
most extravagant prediction made by the
bears was a loss of $50, 900, instead of which
the actual gross are but s457 ,204, q decrease
of S7l, ,512. This is by far the worst show
ing the company has made in many
weeks and it brings the average Of the
returns down to less than s66, 900 per day.
A bad break in st. Paul, however, is
out OF the question for the reason
that the interests that have been support
ing the stock and continue TO advise its
purchase, feel confident that with the
end OF this month change for the better
will come.
General Financial Notes.
The Reading position is still firm. They
demand n per cent, and will not take
less.
A London special says the Americans
are firm. The poor showing OF the st.
Paul earnings was a disappointment, but
has only affected the American market
iractionally. The market is q lower.
The Philadelphia Ledger says the re-
ceivers did not 60 to New York because
they were managing Reading affairs in
Philadelphia, according to their own
ideas, and not according to the ideas of
the New York rival coal presidents.
1t is said that Lehigh Valley is selling
coal at New England points on the basis
of si.55 per ton at the mines. Tho cost
OF production during March was
s1.6i per ton. Reading has increased its
producing power and will be able TO in
crease / ,coo, 900 tons per month, or 2s per
cent. OF tbe production OF 1894.
A Cincinnati special says Whiskey will
probably be advanced 2Ia cents per gallon
tomorrow.
The gossip of the New York Exchange
has been rather more indicative OF q reac-
tion than for some days past, and 1t is not
unlikely that the bull party are willing
TO see some selling, especially II it
leads to the formation OF new short In
tersst. There is no material change in
the situation or outlook and much Will
depend on the character OF tho London
market during the next week or ten days.
The Baltimore & Ohio directors today,
voted to pass the dividend. The earn
ings for March decreased $4,000.
There was i63,ooo,oo worth Of stock
represented at the New York Central
meeting today. There is no change in the
board, nor in the West Shore.
Cotton.
New York cotton futures opened
strong; sales 1900 bales. April, $50 bid;
Msy, 6.79; June, 0.7s; July, 6.7i; August,
e77; September, 6.77; October, $50;
November, 6.s2; December, 0.ss.
Liverpool Cotton opened 5to 6 points
advance, which is not equal to our ad-
vance, the New York close yesterday be-
ing 10 to 20 points over Liverpool's parity.
Spot sales, 1900 bsi-@