The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-18
FINANCIAL NE VS..
SpeciaIties Likely TO Come
Well to the Front.
Sugar Has Friends-St. Paul Decrease
Na!ural-Gessip.
Special 10 Thu NnMs.

Special 70 Tho News.
NEW YORK, April 1o.--Specialties are
likely TO come we'll to the front. Ameri-
can Tobacco will be handled marketwise
by some responsible houses, and the effort
will be made to place the certificates on q
basis that more clearly represents the
value of a stock that pays at the rate of IL
| per cent. per annum and earns at the rate
| Of 20 per cent, or more. There will be q
meeting Of some very influential interests
in the course OF a few hours to decide
upon a program in which Tobacco will
very largely figure.
OF all the Industrials there is none per-
haps that has so many friends as Sugar.
Its record rs dividend payer since. its
reorganization four years ago has en-
couraged all that trade in Industrials from
| choice to believe thet the Havemeyers will
continue the II per cent. dividend policy
and will occasionally distribute a
| "douceur" in the shape of
an extra 10 per cent. There
is quite short interest in Sugar, and il
the lower Wall street people SO desired
the stock could readily be put TO 100.
The past history shows that the shares
are very well distributed, and that those
who have bought them have taken them,
not with the idea OF making any specu-
lstive terms, but to hold the property for
its annual revenue.
To leave the Industrials, upon which
the sentiment is more or less bullish, and
to come back TO the active railroad list
in which conflicting opinions dominate,
it can be said that of the Grangers c. b.
a. q. Is in the best position
for raise. 1t will not be
surprising il in the course
OF few weeks c., b. & Q. should be SELL
ing nearer so. Lines have been laid, and
IL encouraging news should come a little
later in the spring concerning crops along
the line OF C., b. & O., those people who a
few years ago were powers on the long
side of the market and put the stock from
75s4 to 1lo under precisely the same con-
ditions that now prevail, will take the
stock in hand and history will repeat
itself"
The point is made that the information
Is misleading which says that the per
cent. dividend of Chicago Gas should be
added to the IL per cent. paid this year
TO make 2h per cent. for the half year,
and that this "a per cent added to a
semi-annusl dividend OF 2h per cent. to
be declared in the fall, would
make 5 per cent. for the year.
The ~ per cent. paid this year belongs to
the last quarter Of last year and cannot be
figured in this years account, so IL the
companies only pay 2h next fall 1t simply
means 3la for the year.
While so many doubts are expressed
regarding the ultimate outcome of the
| Coal combination, those who seem to have
| the very best information on the subject
express positively no fear.
President Miller OF st. Paul said yes
terday that there was no special reason
for the big decrease in st. Paul earnings
for the second week OF April The de-
crease came from general loss OF busi-
ness. As to the crop outlook along st.
Paul he said the prospects were good sv-
erywhere.
The Wool Market.
foreign wool, the volume of business
done in the past week would foot up
| quite a light total. Free purchase OF
| Australian, however, combined with a
fsir-sized trade in South American
woods, bring the aggregate OF the weeks
transactions up to quite respectable
| figure nearly three million and hall
| -,
tinue to have the call. and such stock as
manufacturers desire sells readily, and
generally at full figures. The demand,
just at present, seems 10 run to ex-
tremes-either very fine and very choice
| wool, OF coarse and low-priced stock
woods of intermediate grades and quail
ties being comparatively quieter than
heretofore.
Prices on domestic woods still fail to
respond TO the Improvement previously
noted abroad. A very steady feeling
| prevails, however, and we know OF no
concessions whatever that have been
made in selling prices. Transactions
have been effected at precisely the same
figures as were quoted two weeks age
for exactly tho same woods. "Hard
pan" at length seems TO have been
touched, and W hile there is too large O
supply OF wool aysilsbe to admit OF any
thing like a boom in values, conservative
observers OF the situation are inclined "a
believe that present prices are to bc
maintained, and With return OF confidence
discornible in other lines OF trade, it car
be only question OF time when there
will be reasonable recovery in the WOO
market. What sales have been accom-
| plished, however, have been at full
prices for good desirable woods. Some
of the newly shorn woods are on the way