The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-11
FINANCIAL Ne WIS.
Manhattan Directors Will
Probably Declare Dividend.
Reaction in Sugar-Theo. Havemeyer
interviewed-Good Gossip.
Special TO the News.

NEW YORK, March 1.-THE directors OF
Manhattan hold their meeting tomorrow
and will promptly declare the full divi-
dend of ~ per cent. The statement for
the quarter will be reasonably good. 1t
is asserted that even on Third avenue, the
line that suffered most because OF cable
transit. has begun to pick up appreciabiy
and that the Sixth avenue line Is doing
better by far than IL did in 1898 or last
year.
The earnings OF st. Paul will from this
on give somewhat more encouragement
to the holders of the common stock. Ii
Is certain that when the directors meet
on Thursday they will decide upon divi-
dend. This information was wired from
Chicago as late as yesterday evening by
director who will be here in a few hours.
The general feeling continues little
blue, and traders are not yet prepared to
take the long side of the market. They
are waiting for directors of various COM
panies to take action on dividends, and
until such time as the New York Gen.
trail definitely settles the policy,
there is not likely to be
any marked improvement in
that stock. There is nothing TO indicate
that there will be any deviation from the
conservative management. In other
words, those who are in a position to
know still insist that the full ~ per cent.
can be paid aud assurances TO this effect
have been cabled 10 London, and have
been vouched for by some of the strongest
interests on the other side.
With the arrival OF Mr.. Cornelius Van
derbilt in Europe there is certain to be
more encouragement TO the British inves-
tors in the Vanderbilt properties and it
would not be surprising if London, in the
course of 4S hours, should turn up as quite
a conspicuous buyer of these specialties.
The London market will bear close
watching because the turn will come with
any change there in the department of
American securities.
The Western Union has not escaped
the vicissitudes that have beset other
corporations. The early figuring on the
quarterly statement indicates that the
full dividend would have been earned,
but in making the computation the earn
ings were based on the old capitalization
OF SS0, 0,000, 900 and no; upon the increased
capitalization to s10o,000,000. Last year.
Western Union, for the corresponding
quarter, made only Il 1,073 900. Then it will
be recalled that there was a general pa
ralysis in business. This quarter. judging
from the figures TO hand, the company
has done even less. The managers are
ont with the statement that "we never do
earn a dividend in the first three months
OF the year, but we have a surplus upon
which we can and will draw"
Sugar may be somewhat uncertain and
it would not be surprising if, considering
its marked advance, it should react
moderately. There will be no slump,
however.
The lower Wall street people tell their
friends on the strict 90 I" not TO let go
their holdings, but 10 maintain their
position until Sugar reached that level
at which a consistent IL per cent. stock
should sell. The fortune of the future
will undoub btedly be made on the long
side OF Havemeyers' speciality and those
who take position and hold 1t will in
the long run come out the biggest win
ners.
The returns for St. Paul for the first
week CT March, showing a loss OF S25, 500,
were just about up 10 expectations. This
loss has been more than Offset by
economics made in operating expenses.
II can be positively announced that the
dividend will be l per cent. on the COM
feel confident that st. Paul will continue
in the dividend paying ranks.
General Financial Notes.
A London special says the Americans
are strong on assurances that Vanderbilt
and st. Paul dividends will be paid.
l.. e n. Is up on covering OF bear con-
tracts and the tendency OF speculation is
somewhat improved.
Dow, Jones & Company quote Theo.
Havemeyer as saying that il the one-tenth h
differential had been removed, the Sugar
dividend would have been reduced. Az IL
IL, he expects the dividend can be main
tanned for at least year.
The governors of the New YORK Stock
Exchange have decided on no session for
81. Patrick's Day.
prominent local broker was asked to-
day which to buy at 81 or 9j--New York
Central or Sugar preferred. The reply
was, "New York Central, fora long pull !"
Friday the New York Central dividend
will be acted upon. Some look for re-
duction.
The adjourned Tobacco meeting will
take place on Friday. The report will
show between 20 and % par cent. earned
on the stock.
The ID. e. +. plan of Reorganization was
very we'll received, oil newspapers COM
menting very favorably on Il.
Edgar NJ. Dexter, formerly with G.
Franklin Nugent & Company. returned
10 their employ today. lie will have
charge of the local Las.LoJ5 /, the house.
while Mr.. Fletcher will handle the bond
department for the State and Mr.. Nugent
will lock after the New York end.
Cotton.
Liverpool opened per cent. advance;
aaav Tho narkol than Loaf 4 mar M, M