The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-18
FINANCIAL NE VS..
Lake Shore Selling High and
Suitable for vanderbilts.
Smart Rally In6icated-Sugar May
Pay Dividend Gossip.
snecial TO the News.

ings OF Lake Shore are not up to the
standard a glance at the report made by
the Nickel Plate will show that the Nickel
Plate has been persisteDtly drained in or
der to throw traffic over to the Lake
Shore and Michigan Southern. Not
withstanding this, the earnings of
Lake Shore are scarcely sufficiently
large in the net to make the full 8 per
cent. dividends that are being paid. 1t
would seem, therefore, that the stock is
selling on a sufficiently high basis, and 1t
is one that should be reserved entirely for
the Vanderbilts, who can afford luxuries
that others should not even dream Of.
Relatively speaking, New York Central
Is in better position than the other
high priced Vanderbilts. The stock is
largely held abroad, where the feeling is
bullish. The directors of New York Gen.
trail will meet in about four weeks. The
regular dividend OF IA per cent.
will be declared, but the statement
OF earnings will not be as good as
was that for the corresponding
period OF last year. The net returns, how
ever, so some OF the influential insiders
of the GrGnd Central depot assert, will
warrant the maintenance of dividends on
8 per cent. basis. There is a short i'm
terest in Now York Central that was
created two months ago, but which has
never had an opportunity to cover.
The general feeling on the market Is
somewhat more hopeful than it was dur
ing the closing days of last week and tho
impression prevails that there will be a
smart rally in prices in which even the
Northwestern stocks will participate.
Operators who always look after
the lower Wall street interests
as far as Sugar is concerned tell their
friends that the chances arc more than
favorable that the board will declare the
regular per cent. dividend for tho spring
quarter, especially II, as % now deemed
probable, nothing is done at WASH
ington that can be construed as
inimical to the sugar Iindustry.
IL Sugar should recede even moderately
from these prices 1t will be an excellent
purchase. 1t Is certainly worth 20 per
cent. more than American Tobacco. and is
by all odds the best of the Industrials to
buy for long pull.
Western Union has ruled very firm and
there has beon no liquidation of moment;
certainly none that has not been more
than Offset by thu absorption for the ac-
count of small investors. For reasons
tbdb udFO UsCu SGb tnC
feeling on Western Union is not oullish.
but trades recognize that for he time be-
ing there Is no money in going short of
the stock, particularly as the floating
supply Is less than In a long time past.
Commission people are not advising the
purchase of Western Union for the reason
that they believe as per cent. Gould
stock 1t Is selling at very high price.
octsx k.,o do, ,,,,r~
the marketing OF representative holdings,
traders who are watching the dealings
closely will not be slow TO help it on a
downward course.
"Among the blind the fellow w no has one
eye is king" On this line of argument
the earnings of St. Paul for the
second week OF February must
be regarded as negatively good. Last
year the company only reported $3.50, 900
for the seoodd week of February and the
earnings for the corresponding period
this season are si20, ,0o0 a decrease of s71,-
$50. The st. Paul is doing at the rate of
s60,CC0 a day, whereas IN normal times
IL does from sS5, 900 to sfoOO0O
a day. 1t might not be prudent TO sell
the stock short because it is on a nom
dividend basis, and the chances favor the
about w per cent. on thu stock, the di-
rectors viii, following the suggestion
of some OF the most conservative in
the board, pay ] per cent. in order
TO keep Ss. Paul in tho dividend paying
ranks. The meeting will be held four
weeks from next Thursday.
Chicago, Burlington e Quincy will prob
ably have little advance, aud competent
judges say it j. purchase for point or
two, especially as the dividend will be
declared this week at the rate OF per
cent per annum.
Cotton.
NEW YORK, Feb. 18.-Cotton futures
opened steady; snles, 900 bales. February,
5.s5; March, 5.hi; April, 55i; May, $50;
June, 5.63; July, 5.G5; August, 5.69; Sep
tember, 5.7s October, $50; November,
5.s6; December, 500; January, 5.95.
Cotton spots closed dull. Mid. ups,
5A; mid Gulf, 5X salos 100 bales.
Wheat.
Liverpool Wheat dull and a lower
Corn, Y lower; Paris Wheat, March, 8
lower; Berlin Wheat, y to u mark lower.
Chicago Wheat opened weak. May sold
81 sellers and July 53 but turned on buy
ing by New York.
New York wheat receipts, IL 100; sales,
2,iso,00o. Market declined at first under
easier CO bles and afterward rallied; May,
57h d7; July, b7Aha "a.
Railroad Earnings.
@. a q. w.--Flrst February, So, lie;
decrease, t70O9.
M. Il s.. L.--January gross, sl15.1si;