The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-23
FINANCIAL NE WS.
Special to the News.

NEW YORK, Feb. 23.-Every body knows
that the Belmonts have no immediate in
tention OF putting Louisville q Nashville
on a dividend basis, and before any re-
turns are made to the stockholders SUR
plus sufficiently large TO guarantee the
dividends for a year at least will be ac-
cumulated.
When l.. & N. re-enters she dividend
paying ranks st. Paul will be making
much more money than it is for the
moment; consequently, as a continued
dividend payer, and With the prospects Of
increasing the amount with the growth
OF business, every reason is suggested for
advising the purchase OF st. Paul in pre-
ference to l.. & N.
Jersey Central Is likewise liable to shoot
up nearly as much as it reacted from the
high prices of a few months ago. The
First National Bank people are talking in
more confident strain and it is as GER
tain as any event can be, that when the
directors hold their meeting in April they
will continue dividends on a basis that
will warrant J. c. selling in the neighbor-
hood of par.
The best impression is that the market,
even II il does not become particularly
active during the next few hours will
ant improvement in the course of a few
days. The feeling in the street is conf
dent that with the adjournment of Con-
| gress better times will dawn than
have been seen for many
| long months, and that once
the country is relieved from the incubus
of possible unwise legislation it will not
be slow to recover from the depression
for which the continued presence of an
uncertain Congress was in no small
measure responsible.
st. Paul will probably pay a / per cent.
dividend and as this amount is earned
there is no reason why st. Paul should not
sell nearer TO the figures at which Rock
Island is quoted. What European invest
ors want more than anything else is the
knowledge that their property Is being
conservatively managed.
1t must be confessed that the London
market was disappointment over the
holidays. Trading was very high on the
other side and the hopes of the bulls h
contingent, which bought stocks here at
the close of Thursday, were rudely disap-
pointed when the cables showed that the
changes that took place abroad were ue-
cidedly in the wrong direction.
Insiders of the Tobacco Trust are still
fighting among themselves. The liquida-
tion for the account of the "big guns"
that intend to withdraw from the COM
bine has not yet been completed.
Cotton.
New York cotton futures opened
quiet; sales, 1900 bales. March, 5.d7;
April, $50; May, 5.54; June, 556; July,
500; Aug, 5.63; Sept, 5.6S; Oct, 5.13;
Nov, 57S; Dec, 5.s3
Cotton futures closed barely steady;
sales, $500 bales. Feb, 5.47; March, 5,4S;
April, SAC; May, 5.53; June, $50; July,
| Nov., 5.77; Dec, 5.s2.
Spot closed dull; middling uplands, 5% (;
middling gulf, 5% sales, none.
Providence Clearing House.
The clearings of the Providence banks
today amounted to S79S, ,735; for the week,
| S4,027, 900.
Today's Stock Board.
WALL STREET, Feb. 23.-The stock mar
ket opened firm but quiet. Distilling was
in great demand, subsequently rising to
11A, making the net gain / per cent. Man
haitian was also strong and jumped I TO
109. The rest of the list was slightly
higher and Consolidated Gas showed an
improvement of y. Lead and Tobacco
were weak and reacted x TO l per cent,
respectively.
Kent 81 Stanley Company.
Said prominent business man today,
who knows all about the affairs of the
Kent & Stanley Company: =" The trouble
is there are so many plans suggested for
the reorganization of the company that
the stock are confused and
don't know which to adopt. And further
more no decision is liable to be reached
before the latter part OF next week. All
the plans point to the same end-the
raising of about s400, 600 to enable the con-
cern 10 continue"
General Financial Notes.
The Canadian Pacific has declared a
dividend of II of per cent. for the past
half year.
The situation is not much changed. The
market is still waiting for the allotment
of the bonds and a more hopeful feeling
prevails. Outside bonds and investments
are peing asked about in an encouraging
way.
London is fractionally down.
The Treasury gained on the bond sale 80
far about s33, 100000
The Standard Oil interest secured con-
troll yesterday OF the Consumers Gas Com
paDy.
ID. &. +. ought TO do better on the de-
cision to advance the price OF spirits.
There were 1000 shares OF Whiskey sold at
the opening today at from 1ik to liz.
The earnings of the Atchison system.
for the second week OF February, decreased
s24,4i3.
There was naturally not much change
looked for today, 1t being "short day."
following n holiday.
The Chicago, Burlington & Quincy divi-
dend will be paid In Boston next month
on sS7,690 shares, decrease Of 1857 for the
quarter.
The United States Rubber Company will