The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-01
FINANCIAL NE WS.
Why Western Union Should
Go Considerably Higher.
C0aIers Liable to Come to a Sails
factory Agreement.
Special TO The News.

NEW YORK, May la lew weeks ago
the claim was made, rightly or wrongly,
that BECAUSE Of the almost stagnant con-
oition OF business, merchants were not
using the telegraph wires to any
considerable extent, but were sat-
isfied to maintain q correspond
ence by means Of postal cards because
they are cheaper. On this line of argu-
ment everybody was invited to sell West
ern Union and the claim was made that
the stock would, because of the very Sc
we're winter that it had encountered,
and the marked failing off in gross
receipts with an increase in operating
expenses incidental TO the adverse at
mospherical conditions, sell at so, even IL
it did not seek a much lower level. 1t is
a noteworthy fact, however, that West
ern Union did not yield. 1t is
true that it did not more
TO any considerable extent, but simply
swayed with the advance that subse-
quently took place in the general list.
Western Union is not likely 10 decline
much, il any, from these figures, but, on
the contrary, those who have been watch
The coal sales agents practically agreed
on $500, 600 tons for May. Pennsylvania
will be asked by committee to join the
association aud be governed by the re-
strictive agreements. This is equivalent
to request that it sacrifice tonnage to
Reading and Lehigh Valley.
There is no London market today. 1t
is not likely, however, that the foreign
houses will take advantage of any quick
recessions that are made in prices to buy
stock, especially as the feeling
abroad is y OF bearish. On the contrary,
there is disposition to take advantage Of
every moderate recession to add to al
ready large lines of speculative issues
that have been accumulated during the
past three weeks.
The gossip indicates that drive may be
made at Jersey Central on the theory that
there is bound to be a short, sharp and
decisive fight among the anthracite pro-
ducers before the Coal problem is satis-
factorly solved.
There is no reason to doubt that the |
directors of Northwest will declare the |
regular PA per cent. next month, but Z. |
b. & @. is by all odds the cheapest OF the |
Changers.
An attempt has been made to create the |
impression that the report given out by |
General Electric is unofficial. There is
every reason to believe that stockholders
will be satisfied with the showing that
General Electric will make, and If any
furt har attach ba m ada unon tho stoob ~
will be a good purchase.
General Financial Notes.
Joseph says: "The Cammack factions
propose to make a drive at Jersey Central
and incidentally to attack Northwest and
the Changers generally. Buy G. b. @. to
average on any moderate setbacks. Buy
Reading at 10; hold Chicago Gas and
G.. E."
Mayor Strong has signed the bill
the expenditure OF s5,000,00O
by the rapid transit commission in New
York.
A special from Pittsburg says that
bout 1900 miners at Pocahontas struck
yesterday. Another meeting will take
place tomorrow. 1t is only a question OF
how much the companies will mine, as
he price is out of it.
The weather map shows heavy rains in
he Dakotas, Wyoming, Kansas and
Minnesota and showers to good rains
we'll scattered over Oklahoma, Texas,
Arkansas, Wisconsin, Mon
ana and Michigan.
Cotton.
Liverpool Cotton market opened 3b
POINTS below yesterday. Futures quiet;
pot sales, 1900.
Providence Clearing House.
The clearings Of the Providence banks
oday amounted TO $4,000.
New York Stock Quotations.