The Providence news. (Providence [R.I.]) 1891-1906, 1895-08-26
FINANCIAL news.
Bull Friends Insist That
Prices Will Improve.
Something About "Dog- Eat Dog"
Policy Of CoaIers.
Special 10 The News.

NEW YORK, Aug. 26.-Thoso who are
looking after the bull interests insist THAT
prices will be much higher and they ad-
wise their friends not to play for tempo
rary reactions, bat TO maintain their po-
sition on the right side Of the market, be-
cause the big money OF the near future
will be found by following this course.
Representatives of Jeresy Central ana Del
aware * Hudson are known TO reiect the
opinions OF the Vanderbilts and the
most conservative Of the Lehighh Valley
interests are certain that with normal
times these corporations Will be on
comparatively fiourishing condition.
The Importance OF an understanding
can well be imagined when the facts that
governed during the past six months are
taken into consideration. Because of the
"dog -eat-dog' policy, the Lackawanna
made but a fraction over per cent. last
year, whereas ii might have made fully lO
per cent. had conservatism in business
management prevailed. The Delaware d
Hudson likewise lost a great deal OF
money, which was literally thrown away,
while Jersey Central succeeded in pulling
out with 4 per cent. dividends. Not for
10 years previous In the history of the an
thracite producers had such reckless,
cut-throat course been resorted 10. Al
least it would seem as il the managers are
coming to their senses. Ii is certain that
the greats. powers in Wall street have
ueeu tnClr luOl itAc6- ~
assert their desires and wishes until an
ironclad agreement is made. This will
probably take couple of weeks, but II Is
absolutely certain to be entered upon and
the result will be magical as far as the
coal companies are concerned.
The bond market furnishes indubltable
evidence that the question OF interest and
safe placing of money is of paramount
importane.
Mr. George Gould's return may be TAX
en- as a signal for an upward movement
of few points, at least in Manhattan,
Western Union and Missouri Patio. Trad
ers who read his article in the various
newspapers yesterday felt encouraged and
were under the impression that II they
start bull movement in his pet special
ties he will not be slow to help the i'm
provement along.
Gilt-edged mortgages are in good de-
mand and the prices rule as firmly as do
the quotations for government bonds.
Speculative issues, on the other hand, can,
except in few instances, be said TO be
on the "bargain counter As the high
priced, gilt-edged investments are sell
ing on almost a prohibitive basis, 1t
stands TO common sense and reason that
any removal of activity, such as that now
expected by the most prominent bankers,
must be felt in the. low priced dividend
paying shares.
Predictions are free that Sterling will
weaken this week enough TO stop gold
shipments. Some money is already going
West to move the crops.
London IL about the same as our close (;
Northern Pacific l2 up.
The receivers report OF Northern Paci-
fic for the year ending June 80 shows a
surplus over charges paid of S257, $40.
Joseph says: "Now that George Gould
has returned so full of patriotism and con-
fident OF better times there is likely to be
a couple of points sentimental rise, IL not
more, in North hern Pacific Manhattan FL
evated and Western, of which he speaks
so encouragingly. Better hold Atchison (;
| il promises TO develop considerable activ-
ity and strength. Don't put too much
confidence in the bear points in Sugar"
ToDAY's STOCK BOARD.
WALL STREET, Aug. 26. 1.-The stock
| market opened strong and active. There
was a brisk inquiry for the Changers,
under which st. Paul advanced / 1-8;
| Chicago Gas per cent. Sugar was weak
and down 1-2 per cent.
Speculation continued Nstrong in tone
after 1915, with the Changers leading the
! upward movement. Lackawanna ad-
vanced Is, and st. Paul Il Omaha and
| Illinois Central l per cent. Sugar eased
| off Is, but rally of rs per cent. was
afterward made. Tobacco and Chicago
] Gas reacted "a, but the latter recovered
5-S. Manhattan ran off 1-2, and rallied
1 and declined % per cent. Leather pre-
ferred was sold freely, and went of "a
/ per cent.
RAILROAD EARNINGS.
The earnings OF Texas Pacific for the
| third week OF August decreased s21, l2S
| Ontario & Western decreased s51. $40; G.. G..
| G. q 81. Louis gross for the month OF
July increased s2l0,572 net increase,
| s135, 400.