The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-12
FINANCIAL NEWS.
Sugar Trade Bad But Company Has
Plenty OF Money.
National Lead Company = Railroad
Earnings-Lincoln's birthday.
Special to tie News.

NEW YORK, Feb. lZ.-While the news
papers are doing their level best to get
the Senate to take up the question of the
one-tenth different;al on Sugar, those
who are in close contact with the Sena-
torial party that Is particularly friendly
to IL. o. Havemeyer and his followers,
aver that there Is nothing to be feared
from Washington at this dying session.
The sugar trade Is confessedly bsd, but
the company is, so those who are in a
position to speak assert, in similar posi-
tion to the Lackawanna.
The Lackawauna paid seven per cont.
last year, while only 6 and 1-5 per cent.
was earned on the stock, but the
directors had a very fat surplus to
fall back on and this, IL distributed
even at this time, would net sonnet hing
like $40 q share. II II. o. Havemeyer
can be credited and the statements that
he made before the Gray committee are
acceptable, then the Sugar company has
lots OF cash on hand and when the time
arrives, and Congress IS out of the way,
there will be fewer lugubrious reports and
more OF disposition on the part OF the
lower Wall street people, to get their
'saccharine matter" taken in hand.
number of prominent bear operators
have been confining their attention re-
Gently to the London markets, and largely
because OF their operations the cables
from the other side arc less en-
couraging than they would be under
ordinary and natural circumstances.
In the first place it costs nothing to be
short of the market in England. There
are no "shaves" and no likelihood OF
making corners. AS far as the feeling
proper is concerned abroad all advices are
that the disposition there is to buy
American securities and that il the
English people could see their way to es-
pouse the long side of our market and
would meet witt. any encourage ment
from operators on this side, they would
mot stand upon the order of buying stocks.
The industrial shares are likely to come
more prominently forward during the
next few days. The deferred action on
the dividend question by the directors of
the National Lead Company is causing
some adverse comment. 1t is not at all
unlikely that, for reasons which will
appear later, the board will find
it advisable to procrastinatc for the
reason that while trade is nearly up to
what it was at a corresponding period
last year there has been a depreciation in
the market value of raw products and
materials. The National Lead
Company, SO it is alleged, Is
in good, sound condition, but
some of the insiders do not think it
reasonable 10 go on paying dividends OF
per cent. quarter on the common stock,
which is selling in the neig ghborhood OF 80.
General Financial Notes.
The earnings OF st. Paul for the first
week of February were somewhat better
that expected, considering the blizzard.
Ii looks as il the earnings OF the
Granger roads for the second week OF
February would be the most unfavorablc
reported in months. The cold weather
caused an almost complete cessation OF
traffic.
The statement OF the eastbound ship
ments for the late week makes a more
satisfactory comparison with the record
OF 1894 than any issued this year. Total
shipments for the week were 62,000 tons,
against $4,000 the week before and 1000
tons in 1894.
Transactions at the New York Stock
Exchange yesterday amounted to 153,749
shares.
The belief prevails in London that
Washington will take favorab le action on
the bond question before the expiration
OF the time limit next Monday.
A house active in American Tobacco
says that the annual report, 10 be issued
tomorrow, will show 25 per cent. earned
on the common, after s per cent paid on
the preferred.
The ultimate effect OF the bond issue
must be favorable in it's effects on finan-
cial affairs. The bears, however, are SELL
ing everything on the poor earnings OF
the railroads.
The New England quarterly statement
shows comparatively little floating debt
under the reorganization.
Vice President Purdy of Rock Island
says that he thinks the chances are that
the business on Western roads will be
good after Aug. 1.
Today the managements of tho Chicago
and Consumers gas companies undergo
a change.
In Abe Llncoln's Honor.
CHICAGO, Feb. 12.--No market today,
in honor OF Lincoln's birthday anniver-
sary, it being legal holiday in Illinois.
Railroad Earnings.
G., l.. W., 1st Feb, s1o,17l; increase,
$3.50.
&. G. & s.-ith JAM, sl0 isl; inc. s5379.