The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-01
FINANCIAL NEWS.
Explanation OF the Comparative
Strength of Western Union.
st. Paul Action-Chicago Gas Muddlc.
General Notes.
Special TO The News.

NEW YORK, Feb. Tin explaining the
comparative strength of Western Union a
gentleman who is by no means bullish on
the property, as he believes 1t Is selling
out of all proportion to other stocks
that may be considered questionable per
cent. dividend earners. said: "The fact
OF the matter is, the recent buying
OF between 5000 and 1000 shares OF Tele-
graph has been for the account of the
Mutual Life Insurance Company. The
order was executed, / believe, through
brokers in the Union Trust building. The
reason that the purchases were made was
that the insurance company in question
found 1t very difficult 10 loan its money on
call at pr cent. and il was almost i'm
possible for ii to make time loans
at price that could be considered satis-
factory. In buying Western Union the
directors concluded that dividends will be
continued for an indefinite period on
per cent. basis, so that the net results
would be equivalent to about 5A per cent.
on par to the investor.
Every effort has been made to get some
OF the insiders of the ST. Paul 10 deny the
possible action to be taken by the directors
at their meeting that will be held on
March IA next. Certainly those that are
In position to know, insist that st. Paul
will not pass out OF the dividend paying
ranks, but that following the course set by
the Rock Island directors, the board
will make per cent, believing that some
time in the future business will so inn
prove as to enable the directors to make
up to the stockholders the amount that
they will be called upon in the almost
immediate future TO iorego.
The question arises whether st. Paul on
per cent. basis. which would return
per cent. on the investment at par, would
yield very much. The stock has certainly
had All extreme decline of 80 per cent.
from the time il re-entered the dividend
paying ranks.
The conferences looking TO settlement
OF the Chicago Gas troubles have been
very amicab BILE and considerable progress
in the direction Of adjustment has been
made. The street can make up its mind
that the official announcement OF full,
complete and most satisfactory settlement
will be made in comparatively short time.
Maloney will be scaled of T" and tho
company will be relieved Of any further
legal and illegal troubles. Under the cir
cumstances it would not be surprising IL
the stock should work considcra bly,
above SO
A Firm Suspended.
NEW YORK Feb. 1.--Bouwer & Me-
Gowan have announced their suspension
on the stock exchange. They have no out
standing accounts ON the exchange. The
firm did only a moderate business.
General Financial Notes.
The Illinois coal rate war has been set
tied. Chicago and Eastern Illinois has
given notice OF restoration OF rates TO
to the old basis.
Lazard Freres will ship e, 800, ,0o0lgold to
Europe tomorrow; total SO far, "a, 100000.
Wheat openedweak, May 523s.
Liverpool cotton futures unchanged,
sales. 1000. There are about three miilion
balcs in the narxet and the port receipts
continue heavy.
Losdon ssnt'uuss very strong. RRDors