The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-29
FINANCIAL NE WS.
LackaWanna Statement To-
day Shows Good Results.
No Coal kgreement-The Reichstag
Adjournment-G General Notes.
Special 10 the News.

NEW YORK, March 29.-The directors OF
Lackawanna meet at noon today to de-
clare the regular dividend OF ia per cent.
The statement shows moderately good re-
suits for the first three months OF the
present year. The coal companies have
themselves TO blame for having permitted
one Of the best seasons in moro than 20
years to have spent it's force and strength
without having taken money advantage
of the opportunities that a hard winter
presented. The statement submitted to
the Lackawanna board shows that since
January / until the third week OF the
present month the company actually sold
more coal than for any previous 20 weeks
of last year. 1t really seems almost crimi-
nal that the warfare that the coal COM
panies inaugurated was permitted to run
such a reckless course. 1t is true
that as far as the bulk OF this years
business is concerned the occasion for
making profit has been irretrievably lost.
The agreement, however, that will main
tain prices will not come too late, par
ticularly IL it serves the purpose that
strong capitalists hope for.
The directors of Jersey Central should
meet next Monday. They met the first
Monday in January, when they declared
Everybody knows that Jersey Central has
suffered comparatively more from the ad-
verse causes than did either Delaware q
Hudson, Lsckawanna, or even poor bank
rupted Reading. Recognizing those facts,
a reduction in dividend is almost in
evitable.
The advance which has taken place in
the price OF silver is giving considerable
encouragement to bullish operators, not
only here, but in Europe. Silver, of all
commodities, had the very greatest fall.
| It's price was literally cut in two, and to-
day it is selling but a few pennies per
ounce above the lowest figures ever re-
corded.
Naturally the appreciation in the white
metal is bull argument upon lead and
lead products. Lead preferred is cheap
and under ordinary circumstances would
sell at 80. There Is no question about the
company's ability to maintain per cent.
dividends and il the market is to broaden,
as many believe it will, Lead preferred
will do as well as anything.
Purchases of less than 10000 shares OF
Lake Shore would put the price above 15o,
and it is doubtful IL any long stock held
by the investment holders would come
out at such prices. Men Of comparatively
recent experience in Wall street recall
how Lackawanna, which sold away down
in the SOS less than ten years ago, steadily
mounted to the present figures, and in the
meantime the dividend was reduced from
toa7 per cent. basis, and last year the
company only earned 6h per cent. on the
stock.
Lake Shore is in a much more enviable
position. 1t is by all odds the best OF the
Eastern trunk lines and IL stands nearer
to the property owners than any other
railroad corporation in the United States.
Railroad Earnings.
c. c. G. q st. L.-3d March, inc, s27 ,21s.
u. P.-3d March, inc, s35, ,721.
Atch.-3d March, inc, s31 ,247.
N. L. st. Ry.-2d March, $3.50; inc., 1884
N. d W.-3d Mar, sl93, ,652; dec, s14,-
090.
st. p. & D.-3d Mar, $23, ,9ss: inc, 1890
T.. q Il. h.-3d Mar, s1s, FOG; dec, 1926.
Cotton.
Liverpool opened point advance; spot
sales, 5000.
New York cotton futures opened quiet !;
| sales, 2500 bales. January 6.3s, April 6.23,
May 6.25, June 6.22, July 6.22, August 6.23,
September ga, October 6.2s, November
$50, December 6.37.