The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-28
FINANCIAL NEW
The Chicago Gas Dividend to
Be Announced Soon.
Rain Wanted West-Bearish on ]. {.
General Notes,
Special TO The News.

SpeClal 10 Inc NoNs
NEW YORK, March 2s-There is a good
deal of telegraphing going on among
Chicago Gas directors to arrange meet
ing to act upon the dividend. 1t is diff
cult to hit upon q day when all OF the
directors will be here. 1t is thought,
however, that a meeting can be held in a
few days. One OF the leading interests
says il is not known by any one OF them
| at present Just what action will be taken
on the dividend.
Jersey Centrals February statement
| will be out in a few days. 1t will show
net earnings about the same as last year.
March earnings are a good deal better
than last year, which has encouraged the
manager very much.
A very large owner in the Westinghouse
stock and a recent buyer of General
Electric, who is thoroughly familiar
with the full meaning of the
agreement to pool patents, says
that when the matter is ready for formal
i announcement, it will be found to be very
wide sweeping in it's nature and will put
both companies on permanent dividend
basis. He thinks General Electric will
sell at 90 within 80 days.
There are something like $500, ,000, 900 in
volved in the capitalization of the various
anthracite coal companies. Now a half
billion dollars cannot be handled like a
few thousand shares of stock, and it
stands to reason when deal of
such magnitude is progressing that time
to perfect every detail is absolutely nec-
essary. 1t Is certain that prior to leaving
for Europe on the Majestic yesterday, Mr.
]. p. Morgan received positive assurance
that q gentlemen's agreement will be
entered into and religiously upheld.
Jersey Central is scarcely in a safe posi-
tion TO be bulled at this time, unless one
is prepared for particularly erratic move
ments. The advance from S2s4 to 9SA
squeezed out all the short interest. 1t is
not q safe stock for nervous people or
small capitalists to have anything to do
with.
Evidences are accumulating that Sugar
will sell considerably higher. The certi-
ficates for few days have been neglected
but they will come well TO the frcnt
again.
1t is not unlikely that Rock Island, st.
Paul and Northwest will settle somewh hat
lower, although no particularly bad
break is looked for.
Cotton.
The Liverpool Cotton market opened y
to point up, but quiet; spot sales, 10,-
600 bales.
New York cotton futures opened quiet;
sales, 2,100 bales. Jan, Gal; March, els;
April, 6.1S; May, 6.21; June, els; July,
$40; Aug, 6.21; Sept, 622; Oct, 625; Nov,
6.2S; Dec, 6.33.
1t is dry all through the West. Presi-
dent Cable of Rock Island said yesterday:
at is particularly dry in Kansas, but it is
also very dry in Iowa. The drouth has
gone far enough to make railroad people
feel nervous, but 1t has not gone so far but
what rain would not bring the crop out
all right"
Wheat opened active and higher. The
people who got faxed out of their long
Wheat and sold short on the Kansas City
rain dispatch yesterday now want 1t back,
owing to higher cables and the Price
Current summary.
Today's Stock Board.
WALL STREET, 10:15-The stock market
opened quiet and weaker. The subse-
quent trading in Sugar caused il to recedc
per cent; Iowa Central "a; Southern
preferred and Tobacco 81 and Edison
Electric OF New York I. There are no
material changes in the general railway
list.
IL a. m.-There was a recession in Cor
| dage preferred OF q per cent. The reac-
tiouary movement was checked by the
bulls taking General Electric in hand and
sending the price up l per cent, to So.
| The general list followed suit. Hooking
Valley and Reading moving up q, Sugar
| q; Missouri Pacific, Atchison, Southern
Preferred, Susquehanna and Western
Preferred and New Jersey Central u;
Granger X 10 *. Market firm.
Bank Rate Unchanged.
LONDON, March 2s.-The Bank OF Eng
lands rate of discount remains unchanged
at 2 per cent.
Railroad Earnings.
c. & +. I'D Mar. So, 800; inc, $4,000.
L., N. A. q C.-3d Mar, s5i,Oi2; inc,
s492s.
$. Ry.-3d Mar, 3iO,O95; dec, si2 1888.
T., ST. l.. & X. C.-3d Mar, s35 ,s37; inc,
$685..
W., n. va Ped Mar, s5s,soo; inc,
$500.
C., L. a W.-3d Mar, s22 OPS; inc, ssi21.
The Wool Market.
The features OF the market during the