The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-08
FINANCIAL NEWS.
European Capitalists Waiting to
Hear From st. Paul.
Sugar Raising Cain-Wbiskey Still
Valuable-Newsy Notes.


NEW YORK, March S.-The change may
not come immed lately, but there will be
distinctly better times after the directors
of st. Paul take action on their dividend
next week Thursday. When Europe sees
that the worst Of the American railroad
troubles are over, capitalists and investors
at that center will come into the American
department.. Already the South African
Kaftir circus shows signs OF weakness and
as soon as the wild speculation in this de-
partment ceases, and 1t is likely TO end
now at almost any time, attention will be
given almost undoubtedly TO American
railroads.
1t cannot be gainsaid that Atchison
stands more OF chance OF improving
than any other low priced stock. Sell
ing in the neigh borhood of four,
even with the prospective dividend
OF $40 head, ii is cheap. IL Kansas
should raise anything of crop this year
Atchison would speedily recover to those
figures that prevailed twelve or eighteen
months ago. Temporarily there may not
be any pronounced movement in Atchi-
son, but when it reaches the neig hbor-
hood of s6 a share it will not stand on the
order of advancing.
The directors of New York Central will
probably meet next week Friday to take
action on their dividend. Those who
were responsible for the break in the price
of the stock yesterday claim to
have ''inside information" that
the board will certainly reduce
this division to 4 per cent. basis
and that the statement for the quarter
wilshow less than 81, ,OOO, 900, or 1per cent.
applicable to dividends. The Grand
Central Depot people, however, do not
take the same lugubrious view OF the
situation, and one of the principal officers
Of the road said yesterday:
"Tbis is not the first time
that Wall street bears have
tried to make dividends on
Vanderbilt stocks. but they have failed
incontinently. Those who have access TO
the books make the statement that dur
ing the past few weeks our business has
shown commends bic Improvement. Bas-
ing my judgment on past experience,
should say the stockholders will get their
Ia per cent. in April as usual"
IL, and there is no reason to believe
otherwise, the dividend is declared on
Baltimore d Ohio, in due course the stock
will return to GO, even il it does not sell
higher. There is quite some buliish
feeling on b. & o., and it is thought that
the stock is destined to quickly recover
the losses of the past few days.
For reasons that will appear next week
the feeling on Western Union is not par
ticularly bullish. The stock is not likely
to improve much, but If insiders support ii
it will be singled out for smart decline.
The lower Wall street people claim there
is quite an extensive outstanding short
interest in Sugar, and that the
bears will not feel like paying
the 3 per cent. dividend, consequently be-
tween this and the closing OF the books
they are likely to want back some of their
contracts and the action of Sugar yester-
day showed that it could not only rally
very quickly, but it could maintain its
advance in the face of the depression in
other directions.
The short interest in ID. c. T. is very ex-
tensive and while those who are largely
interested in the future welfare of the
property feel confident that sooner or
later this spring ID. G. +. will be selling at
twice their present value, they
do not with TO see, temporarily
at least, any wild hurrah, because
they recognize that any extensive specu-
lative following at this time would re-
dound to the disadvantage of the ID. c. d
L. from a market point of view. The
general acceptance of the reorganization
committees plans is regarded as an
evidence that II. G. * +. is still considered
a most valuable property.
Cotton.
Liverpool opened up 2 points; sales,
II, 0C0 bales. Later cables report another
half point advance, then down half.
The New York market opened 3 points
advance. Liberal receipts, estimated at
1900, against 1900 last week.
New York cotton futures opened
steady; sales, 10,5O0 bales: Jan. 6.03;
March, 56S; April, 5.67; May, 5.71; juno,
5.7i; July 5.75; August, $50; Sept, 5.S5;
Oct, 5.s9; Nov, 5.S5; Dec, SIS.
Railroad Earnings.
Z. c. c. & st. L.-4th Feb, inc, s22, ,s97;
month of Feb, inc, s71,S9i.
q. N. system-Feb., sSS9,572; inc, $751;
725.
st. =. & D.-Feb. sS6.O67; inc, sl266
NJ. * st. Feb, sl12,53l inc. S12, ,057.
{. =. & H.--Feb., 500, ,7s7; inc, Sl3,65O.
Il. 81 r. H.-Feb., s76, ,144; dec, S503J.