The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-07
FINANCIAL NEWS.
Pressure Will Probably Be Brought
Against Sugar at Present.
Bond Syndicate Workings - Gold
Coming in-Gossip.

against Sugar, but II IS very I'M
probable that the stock will recede much.
The selling Is not OF character that can
be described as good; on the contrary, the
scalpers and those whose perceptions
market-wise are not particularly keen
have been the principal sellers, whereas
the buying continues TO emanate from that
mysterious source which from its persist
ency would indicate that master hands,
supposed to be the Havemeyers, are ac-
cumulating it as 1t comes upon the
market. Sugar, independent of what 1t
may do for the point or two on the short
side, IL certain to reach much higher
than going figures before the first
of April. A great deal OF stress
is laid upon the fact that the
one-tenth differential may be taken of by
the Senate and the bill, II so reported,
would certainly meet with the Presidents
approval. Traders in Wall street attach
no Importance, however, to the violent
market fluctuations in the price OF raw
and refined sugars; u or 6-16 differnce
pass unnoticed. Hence it can be seen that
considerable more stress Is laid on the
question Of the one-tenth than the subject
is entitled to.
1t can be stated authoritatively that the
Standard Oil interests in Chicago Gas
has added to their holdings. The stock
is in good condition and dividends will
certainly be maintained on the per cent.
basis. Under ordinary circumstances
Gas as a reliable dividend payer should
advance smartly and hold its improve
ment.
Mr.. Sage has recently been adding to
his holdings of Manhattan and he believes
that the stock will render very good
account of itself. Unquestionably invest
ors have been picking ii up, as the trans
fer books of the company demonstrate.
1t may likewise be said that during the
past few days a'number OF small capital
lists have been absorbing Western Union,
over 1000 shares in such name having been
inscribed upon the regular books.
The market promises to offer unusual
opportunities on both sides for trading
purposes. Those OF bearish pro-
clivities believe that the Granger shares
will, Notwithstanding fitful and spas
modic rallies, selling at lower prices this
spring than any that have. been reached
in many long month. They argue that
forthcoming statements, all reports to
the contrary Notwithstanding, will not
make very hattering exhibit.
Thu companies have had a very hard
row to hoe this winter. Operating ex-
penses, because OF blizzards and unusual
and almost persistent snow storms, will
increase not less than 5 per cent, and in
many cases will cause an outlay of 10 per
cent. more than last year, when the COR
responding season was, comparatively
speak, ing, an open one.
President II. II. Cable of the Rock Island,
than whom there is no better authority,
confesses that the outlook is very lean
and that business will not pick up appre-
ciably until the next corn crop can be
reasonably estimated.
There is no doubt the Burlington will
continue its policy of paying dividends
on a A per cent, basis, but this, SO those
who have been opposed to the manage
ment of the Q. b. & @. insist, will not
prevent that stock from seeking lower
level of price.
The Flour insiders, while they are
not talking in particularly
hopeful strain, are nevertheless believed
to be giving some tangible support to
their speciality, Rock Island.
Advices from Washington today state
upon authority that an agreement has
been arrived at between the administra-
tion and August Belmont, repre-
senting the Rothschilds ayd }.
Pierpont Morgan, representing the
New York syndicate, looking to the float
ing OF the new bonds, and these will be
sold at price that will yield il he neigh
borhood OF 3 1-5 interest to the purchaser.
This Is precisely what THE NEWS said
last Monday when IL gave the first news
of the formation OF the foreign syndicate
and likewise announced at the time that
$50, ,000, 900 Of these bonds were practically
placed at ITO, London price, which meant
107 here for 4s, yielding at the present
rate OF exchange $50 or 1-5 percent.
1t Is certain that in the course of 80
days we shall be importing round amount
of gold and the anticipation OF this
improvement in the Treasury finances will
unquestionably be reflected in tempo
rarily higher market.
Railroad Earnings.
New England St.-week Feb. 2, s3il5;
inc, sl0iS.
c. & W. M.-Fourth January, sss,OO2;
inc, s2132.
Northern Pacific, December, net, were
si22.679; charges TO be paid, s531, ,7s2;
charges accrued, not to be paid, si50,3i7;
deficit, s54s,i4
New York Central earnings Tor the
month OF January decreased s20,3S7.
Money Market.
NEW YORK, Feb. T.-E. 3. Cuthbert a.
Company say: "The exchange market
shows a very general disposition to hold
cff.n
The market Is rather feverish and no
decided tone IL observable ms yet.
The following quotations are as
close to the actual market as
1t is possible to obtain at
present: sSterling Gables, 4SSi6 TO q;
sight, sSsA COS, iS7h; documents for ac-
ceptance, sS7; for payment, 1894 to q.
Cotton.
New YoRU. Feb z. THE cnly msfle'
~ hich th 'e ia- b@e aiy nc..tit. Di
incest nO.IleG.is ,OIay 3 the cotton
sxx~ ~L.s D-.- "a N A