The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-04
FINANCIAL NEWS.
Chicago, Burlington & Quincy May
Have TO Reduce Its Dividend.
Rock Island Earnings Picking Up.
Gold Shipments-Notes.


NEW YORK, Jan. 4.-One would imagine
that c., B. q q. would be obliged TO fur
ther reduce the dividends on its stock.
prominent railroad man, who is also an
expert accountant, said last evening: Il
have been devotlng considerable atten-
tion to the statements of the c., Il. o.,
and fail to see where the company has
earned, or can earn a dividend, unless
items that properly belong TO operating
expenses are charged 10 the construction
account. List year, fir instance, that Is
in 1893, with the Worlds Fair business,
and witI cereals and products selling at
materially higher than these nZxces, the
c. b. 4 Q. barely escaped with its skin
intact and its dividends, barely per
cent, as the statements show, were made
ut the cost Of considerably reduced ope-
rating expenses"
The Standard Oil people make no secret
OF the fact that they are buying st. Paul
and they believe that with any revival in
business the road will make very rapid
strides toward the goal of improvement,
and they look for a revival within the
next 60 to 30 days.
The extraordinary dealings in st. Paul,
which yesterday aggregated Al 600 shares,
showed conclusively that as q speculative
property the stock ranks second to none
in the railroad list.
President Cable OF Rock Island makes 10
secret of the fact that earnings are pick
ing up and he fully expects that by April,
at the latest, the Rock Island will be on
the fair road to recovery. Ii is not un-
likely that il favorabl action is taken up
on the pooling bill, dividends on Rock
Island will be increased mt the March
quarter to at least a per cent. basis.
Recognizing that the market will prob
ably be very limited one for some days
TO come and the weakness will be promi-
nent in speciaties. some of the leading
bear operators stood not upon the order
OF covering their contracts in the Western
group.
1t is said that the insiders are doing
positively LothiDg in r.. w. stock. In
vcstors that would unquestionably have
sold their holdings had the divi-
dend recently been declared on a
per cent. basis, were treasured
by what they were pleased TO call
the conservative action OF tie board and
believes that in the event OF business re-
v.ving between this and the "merry
month of roses" the board will at no
June meeting disregard the actual show
ing of earnings and will declare what
Van derbilt officials are pleased to call On
interim dividend.
Cotton futures opened steady; sales
$500 bales. January, 5.sS; February. 5.46;
March, 5.51; April, 5.56; May, 5.6l; June,
5.65; July, BIO; August, 5.7o; September,
5.77; October, 5.73; November, 5.Si; De-
cember, 5.S6.
The stock market opened firm and in
many instances material advances resulted
Il.
Lake Shore, " hich gained Ia to 1877 and
sugar, Bay State Gas, and Cordagc pfd y.
General Electric, however, has been III
exception and Is n ow of q per cent 10 "a.
General Financial Notes.
Cables from London show that the
market for Amer can securities is very
tame. Traders show no inclination to
follow the erratic operations Gt New York.
Webssh for he fourth week OF Decem-
ber increased s2S28.
Ca adian Pacific decreased $4,000 for
the fourth week OF december.
Laznrd Freres export 81 5000 gold to-
morrow and Ileidelbach. lckleheimer &
Co., 100000 Ladenburgh, Thsimann q
Go. have decided not TO snip any gold to-
morrow. Boskif, Wood & TO. will ship
S2t0,go0.
The covering of shorts yesterday has
caused change OF front by the tredsrs
and the feeling is less bearish. Stocks are
in fair demand In the loan crowd. There
Is not much change In gossip, although
IL is difficult TO understand how anything
can be done at Washington.
London, where changed, Is e lower.
Government 5s sold yesterday at 1i6%.
The Atchison statement for November
shows a gross decrease OF s2S. .i3s.
William Barbor tas been elected dlrec-
tor and member Of the executive com
mittee of Cordage.
Norman b. Reame of Chicago IL acre
and II ID believed he is taking less pes