The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-04
FINANCIAL NE WS.
The Sugar Company Going
Into DistiIIing Business.
Jersey Central Dividend Increase-N.
Y. c. Bonds-General Notes.
Special 10 the News.

NEW YORK, April 4.-Vice President
Webb Of New York Central, referring to
the report that New York Central con-
templatei the issue Of moro bonds says:
VI do not think there is any truth In 1T,
or / would have heard something about
1t. / have no information W hich leads me
to think it Is true.
The difference between raw and refined
Sugar has been sufficient to provide for
the current rate of dividend. But this
difference has not existed through the
greater part Of the fiscal year and prom
ises to be reduced again in the
immediate future. 1t is to be re-
membered that Sugar has lately
sold at the equivalent OF 107A, allowing
for the dividend, establish hing a rise OF
about Is per cent. 1t can be announced
on good authority that the Sugar comps
ny Is making preparations to manufacture
spirits. To this end it has already taken
out a license from the Government as
diskller. 1t will operated
in one of the old refineries
in the eastern district of Brooklyn. 1t
will start probably next Octob Der. 1t has
experts in France for the purpose of Sc
curing machinery. 1t is not definitely
known whether any part of the equipment
has been ordered, but it is known that
specifications have been drawn up. 1t
will use the "by" product, q
portion of which it has
been sending to New Bedford
for manufacture into rum, and for which
it received about two cents per gallon.
The balance Of the "by" product was
thrown away. No definite estimate of the
capacity Of the plant can be received.
BY some 1t is placed at $4,000 gallons of
proof spirits per day.
People who have often had excellent
Jersey Central information said last mig ht
that unless there was change in con-
ditions and the sentiment of the direc-
tors, the dividend to be declared Mon
day next will be at the rate OF per cent.
1t is certain that there has been great
activity for several days on the part OF ID.
c. f. people. The decision yesterday by
which Mr.. Quinn turns over s26l, 900 to
the receiver is the outgrowth of trans
actions dating back TO the
Greenhut regime. There was a
question whether in certain transactions
Mr.. Quinn was acting as agent or princi-
pal. The conclusion was that he was
acting as agent, and for the present he
will act az agent for the receivers.
General Financial Notes.
London Is little better, but changes are
small. The feeling rather favors reduce
tion from recent advances,
The speculative talk about Sugar is that
insiders have sold and that the street has
the stock.
Joseph says: "You had better buy some
Reading. The coal ombination has posi-
lively been formed or agreed upon under
the title of AN agreement among gentle
men, The N. r. insiders have sold out.
N. +. is a sale on any rally for q turn.
The Sugar Company has money to burn.
Then why bear Sugar."
The second, third and fourth install
monts of 81 each have been called on d.
c. F., due April is, % and 20.
Providence Clearing House.
The clearings Of the Providence banks
today amounted to 81, 400, 400.
New York Stock Quotations.