The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-22
FINANCIAL NEWS
Prophetic Talk on Sugar, Lead
and Whiskey Worth Reading.
Rock Island Dividend-RaiIroad Earn
ings-BreezY Stock News.
Special % the News.

NEW YORK, March 2.-The market
closed with a tone regarded by bulls as
entirely satisfactory. 1t was pointed out
that the buying had been scattered and
well distributed, except in General Elec-
trio and ID. &. F., in which there was un-
doubtedly large covering. There was
some impression after the close that ID.
{. +. would have some further rise
today, and that next week the Changers,
which have not participated adequately
in the rise, would be taken up.
The bond sales exceeded y 00O, 900 and
the loan market showed more borrowing
demand than was expected, although
rates generally were easy.
The statement that st. Paul net earnings
for February will increase about 900
means, il it proves to be the fact, that the
road was operated in FEBRUARY, 1895,
for 64.4 per cent. OF the
gross, against 72.7 last year.
The operating expenses in January, 1895,
were $685. per cent, or 1855 per cent. less
than the average for five years. 1t indi-
Gates wonderful ability to economic ON
the part OF st. Paul, last years figures
being considered remarkable.
The Rock Island dividend Of II will be
declared in Chicago if a quorum can be
obtained today. The Granger stocks have
bad less advance than Others
thus far. They started early,
but have been quiet for a number OF days,
while low priced stocks and Industrials
have been features. 1t is surmised that
this wait has not been uuintentional and
that the Grsngers may be reserved for
later features in the advance.
The statements of st. Paul and c. b. q
Q. and the earnings OF Northwest and
Omaha are about due, Some OF them are
expected TO be favorable and it was very
confidently believed in st. Paul last night
that the stock would make a quick recov-
cry OF its dividend.
Sugar is prepared for substantial ad-
vance and in all probability sell
higher in the next few days than
1t sold ex-dividend a week ago. At the
uptown hotels last night, one prominent
trader was bidding 995 for 1900 shares,
but nobody wanted to sell any.
Lead will probably go back 10 about 40,
because it is the intention OF the board to
resume dividends at an early date.
The position of Whiskey is such that
it could be put above 20 in comparatively
short order.
There is an outstanding short interest
in Western Union which may conclude to
cover at any time now, and il short con-
tracts are taken back the stock will
readily cross 80.
General Financial Notes.
1t is thought that 10000 General Elec-
trio ere covered yesterday.
The London market for Americans con-
tinues strong.
Joseph says the coal combine is an as
sured thing.
A hand book of the national banks of
Providence, containing the reports of
March 5, is out and is eagerly asked for.
c. Franklin Nugent & Company have
issued hand book Of Rhode Island in
vestments.
Liverpool Cotton market 11s points de-
cline; spot sales, 1900.
New York Cotton futures opened
weak; sales, 16,900 bales. March, 500;
April, 6.10; May, 6.14; June, 613; July,
615; August, 6.1S; September, 6.19; Oc-
tober, 6.23; November, 6.2S; December,
6.31.
Today's stock Board.
WALL STREET, March %, 10:15 a. m.-
The stock market opened strong and
active. Lackawanna advanced per
cent; Bay State Gas and Dis
tilling %, ana New York Gem
trail, New Jersey Central, Hooking
Valley and Sugar, y. General Electric
opened u lower, but quickly rallied q
Susquehanna a. Western receded 1 per
cent. and Bay State Gas fell off y.
Railroad Earnings.
Atch.-2d Mar, inc, s17, $50.
c. g. w. Md Mar, s3l,5 ,539; inc, sS65.
d., L..& Nd Mar, go, 100; inc, 1893.
Nj. Il st. lid Mar, s31, ,0i3; dec, s110i.
o. SD Mar, si4,OO5; inc, f6,s33.
Providence Clearing House.
The clearings OF the Providence banks
today amounted to s66i, ,3O0
81 c.-n-