The Providence news. (Providence [R.I.]) 1891-1906, 1895-12-07
FINANCIAL NEWS
Yesterday a Great Day for
InduStrialS.
Tobacco Will Pass Dividend on the
Common.
Snecial 70 Tho News

NEW YORK, Dec. 7-If anybody had
wanted favor from Governor Flower yes
terday it would have been great day to
see him. The decision OF Judge show
alter was almost as much OF a surprise to
Gas insiders as it was TO outsiders. They
hoped for such result, but anticipated
delay. Wormser & Company were the
large buyers all day-l9, 900 shares-with
Eddey, Booth and Schep? the largest sell
ers. Schepp sold about 5000. IL was
supposed that insiders sold more or less
OF their cheap stock, but they were will
ing TO buy again on the spurt just before
the close. The room believed that big
shorts in Gas had not covered. As to the
immediate course of the stock. insiders
expect 1t to appreciate gradually unless
some of the prominent shorts become
alarmed when the rise will be rapid.
When Sugar opened up trades sold for
turn and were successful in getting back
their stock. The spurt from 105l2 to 1878
was on buying in which well-known oper-
ators were prominent. There was an i'm
preston that a large covering order was
in the market at 106 and the price was
bid upon this account. People who have
been right on the Sugar move say that
they saw no indication of any change.
They believe that the Havemeyer inter
ests are making one OF their important
turns and that Sugar will go higher.
Ii was a great day for the lndustr ials.
Transactions in Tobacco, Gas and Sugar
amounted to 209, 900 shares out of a total
of 295, 507. Tobacco furnished SO, 900
shares, Gas, ~, 400, and Sugar, 527, 700. The
general market was affected by the gold
engagements for time, but the Indus
trials gradually created disposition TO
buy and the temper at the close was dis
tlnctly favorable To higher prices.
The following advertisement appeared
this morning: "To the stockholders of
the American Tobacco Copmany: The
usual quarterly dividend of per cent on
the preferred stock OF this company will
be paid in February. but no dividend
will be paid at that time ON its common
stock.
GENERAL FINANCIAL NOTES.
Joseph says: "Chicago Gas will in due
season sell at par. Those who buy for
keeps are al right, but sales for quick
turns on spurts will also prove remunera-
tive There is big short interest i'm
Manhattan Elevated and a few points rise
il very probable. On further rally in
Sugar or Gould stocks sell for a turn, Man
haitian excepted. Estimates for gold
shipments next week are very light"
The London Market for Americans il
very dull and Is lower; Consols, 1-16
lower.
Northern Pacific earnings for the fourth
week of Decem ber increased sl03 coo.
From the earnings of Tobacco during
10 months of the current year, it is esti-
mated that the earnings OF the year will
permit the addition of over II. 200. 900 to
he surplus after paying s pr CT. on the pre-
ferred and . per cent. on tn common. On
account of the acquisition of new plants
during the year, however, the company
requires more cash working capital and
for this reason the dividend is passed.
Dow, Jones ~ Co., say that all refined
Sugars below n o. 5 are lie higher
Real treasury gold this morning was
about s77, 900, 600. The excess of expendi-
lures so far this month is 81, S6S, 40; since
July first, Sl7, 737, 737.
1t ia suggested that the precipitate and
action of the Tobacco peo-
pie on the dividend question was for the
purpose of enabling some heavily short
bears on Sugar TO cover.