The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-18
NEWS
German Increased Sugar
Bounty Will Do Us Good.
General Electric Liquidation-CoaI
Dealers Meeting General Notes.
Special TO The News.

NEW YORK, March 1S.-One of the
largest Sugar refiners in this country
says: "There is only good to be seen in
the agitation for an increased bounty on
Sugar in Germany. In the first place,
such bounty, il finally decided upon, Is
too late to apply to the refined product,
because only raw Sugars are now avail
able for export. The season has passed
for the refined product to
come on the market. If, therefore,
the bounty passes 1t Will apply
only to raw Sugars, and that means lower
prices for raws, which must work only for
the benefit of the American producers,
because lower price for the German
raws here means lower price for the cane
in Cuba, which is most used here. Never
theless, my aivicas from Germany are TO
the effect that there will be no increase in
the bounty. The measure is supported
mostly by a party much like our Popu-
Isis and does not have the support of
the conservative and strongest classes
OF the country. The Germans will also
be very slow to put this increased bounty
on, because ii means an equivalent in
crease in the taxes OF the people, and
German taxes are just about as high as the
German people are willing TO have them.'
1t is admitted that the First National
Bank party has given out the buying
orders in Jersey Central ever since the
stock was SO, but it is alleged that a COM
paratively small amount of stock
has been accumulated on the advance,
TIE plan being whenever shorts attempted
to buy to bid up the price, acquiring as
little stock as possible. The prominent
bears ia the street covered their Jersey
Central below 81, but it is understood
that there is a very considerable short
interest outstanding, perhaps as large
as 5000 shares, which was put out a long
time ago by people who made great deal
of money in the Reading collapse and who
were closely identified with the Reading
at the time Of its last failure.
Louisville 81 Nashville has begun meas
ures looking to material reduction of
grades on its line. The plans proposed
are expected TO cover considers BILE time
as the necessary outlay cannot be made
except gradually. The first division, in
cluding the line between Louisville and
Bowling Green, is now being tested
through the operation Of a special train
loaded with pig iron, making a train
weight of 100000 pounds. 1t is intended
TO reduce grades on this division his year,
enough, il possible, to do away with the
necessity OF dou bling locomotives.
The earnings of st. Paul for the second
week of March, showing loss OF S44, coo,
making the returns for the period in
question but s511OO0, were less
than expected, but 1t is not likely
to have any particularly adverse
effect upon the stock for the reason that
pending the closing of the books for the
dividend the short interest will probably
sustain the price. Besides there Is feel
ing among some Of the foreign houses In
particular, and the average bullish trader
in general, that st. Paul is worth as much
as Rock Island, and since il pays
the same amount OF dividend,
and. will probably increase soon
after the Rock Island finds itself
in position to pay an increased amount OF
net earnings to stockholders, there is no
reason why st. Paul should decline tenn
porarily, even fraotionally.
1t will be surprising il General Electric
does not soon return to the low figures,
25%, or even lower price, in the very
near future. An operator who tried to
make turn upon the short interest, and
who succeeded in bidding up the
price Of General Electric 10 within
a fraction of so, said the only stock that
came out seemingly emerged from strong
boxes and was, in fact, supplied by the
alleged friends of the company. This
leads some to believe that liquidation in
this particular direction has started again
and advantage will be taken OF the strength
OF the general market TO saddle upon the
street all the General Electric it will take,
Sugar will move within very narrow
bounds. 1t is not likely TO have much Of
a decline from these prices, bu'. on he
contrary, good judges say that II !uay 10
bought with great deal of safety. The
Havemeyers, all reports to the contrary
Notwithstanding, have not been selling.
They will get their 3 per cent. dividends
in due course, and the outlook for the
Sugar Company Is brighter than it has
been in more than four month";.
A most persistent effort is being made
TO get the presidents of he various coal
companies together this week in hopes OF
bringing about settlement of the hard
coal trou bes. The success OF the meeting
in this city and in Columbus OF the btu
minous coal interests encourages the hope
that the executives OF the hard coal COM
panies Will see their way clear TO como to
an agreement that Will NJ least enable
them TO carry on their business witnout
loss. The effect of such an agreement
would be to boom Reading more than any
other OF the anti racites.
General Financial Notes.
The tone OF the market is still firm with
a greater disposition to trade. Bonds are
in some demand again and better market
is expected. Money is talked higher aud
A. L..e a -. -.
change on cell ~ yet.
London is very strong, l.. & n. is up x
and st. Paul "a.
II Is stated in the New York Times that
the American Distributing Company and