The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-31
FINANCIAL NE WS.
Next Months Dividends Stim-
late Certain Purchases.
Western Union, Northwest and ST.
Paul Discussed at Length.
Special to The News.

NEW YORK, Aug. 31-The capitalists
who have beeh active upon the bull
side Of the market believe that whatever
rest stocks may have will be but temper
ary and that an incentive will be given
10 spectators next week that will carry
prices, particularly for the Coalers, mary
points above their present figures. The
declaration of dividends that will begin
on sept. 4, starting with the Sugar Com
pany, and winding up with the Lacka-
wanna on Friday, the 9th, will stimulate
purhasers Of these securities for invest
ment account.
IL is understood that the forthcoming
statement OF the Western Union will
make very hattering exhibit and IL will
show that the company's earnings have
Increased considerably because OF the
phenomenal recovery in general business.
Western Union is purchase and the pro-
minent life insurance companies that
bought but between 5000 and 5000 shares
last spring have acquired $500 additional
In the course OF the past two weeks
Ihere is an extensive short interest in
Northwest. The same people that tried
TO depress the value of {. Il. @. from 80
and only succeeded In cornering them
selves to the extent of Is per cent, have
been the persistent sellers of Northwest,
insisting that the company is on 4 per
cent. basis, but ignoring the fact that the
ll2 per cent. declared last month was a
conference had been held with the lead
ing holders of that stock, who were
assured in turn that the company would
return to its normal rate of dividend Just
as soon as conditions warranted.
recognition OF this promise will pre-
vent those who are seriously thinking of
Northwest from taking any ac-
tive position the bear side. The stock is
held by people who cannot be forced to
sell and as there is going TO be no new
issue OF Northwest, those who get on
the bear side are likely to be punished
for the temerity.
1t is not claiming too much to say that
at least per cent. will be earned on
the common stock Of the st. Paul Com
pany. 1t IS true that there has been some
speculative selling of the shares for Eu-
rorean account, but Ii il eeaally true
hat legitimate investment holders on
he other side have not, as the transfer |
books VIII show, reduced their lines to
any appreciable extent. st. Paul, three
years ago, sold at "a 3-s, in antici patton !
of return to dividend basis, and then, |
II one will remember that the company /
vas about two or more years of the hard /
est times il ever experienced, one will see /
Why the stock at its present-selling price |
AN be accounted reasonably cheap and |
lbsolutely safe. The crops along the line
)f the road have been made and the earn
ngs from this on will show more conspic-
ious advance in the net than in the
gross.
ToDAYs STOCK BOARD.
WALL STREET, Aug. 31.-The stock
market opened strong and active. To-
,acco received excellent support and inn
proved Ia per cent. The gains in the
,eneral list were of fractional nature.
The tendency of values continued up
ward after 10:15. The lower priced
hares were in good demand, Wabash pre-
erred, ST. Louis Southwestern preferred
nd Texas Pacific rising per cent each
tennessee Coal was under pressure. and
lown per cent. wa
GENERAL FINANCIAL, NOTES.
The London market is higher 7-s for L.
n. w, and the balance of the list is
rom Is TO 3-S higher.
Joseph says: Nothing TO say except
he leaders insist that the market will be
:. White is a big, pig bull on Sugar.
Insiders still buying Chicago Gas. III ID.
:. +. rallies, sell little, just for turn.
'rangers will recede temporarily
The net earnings of the Atchison sys-
I'm for July increased 1890 The For
ign News Bureau says that the Attor-
ey General has taken no action in the
nit against the American Tobacco Com
any, and the statement that the hearing
, the action brought by w. II. Allen
as set down for Tuesday was premature.
Gold shipments are causing more fear
, London than here.
The steamship La Champagne which
liled for Havre this morning, took on
oarf s140, 900 United States gold coin.
LocAL/MARKET VERY DULL.
The local market has been exceedingly
ull during the past two weeks, the prfn.
pal cause being said 10 be the fact that
cal stocks are too high to net on a good
isis.
Money, however is coming in very free
I. IL is understood that q lot OF Kansas
ity water bonds are about TO be paid off
ire and the money will be reinyested. ,,
wing the market little boom.
The stock market closed strong at I
'out the best figures, with single ex- ,
ption OF Distilling. This stock sus. :
ined an unimportsnt fractional decline. ,
ne Coalers were especially strong, with
ew Jersey Central and Reading stock
ID preference In Government bonds the
ltures. .tl
Money on call easy at 1 per cent.
PROVIDENCE CLEARING HOUSE
The clearings OF the Providence banks
day amounted to s776,6o0 for the week,
COZ, 900. ,