The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-30
FINANCIAL NE WS.
Why Rock Island Should Soon
Reach Par.
Reaction Possible in Grangers-Man
haitian Going Up.
Special TO The News.

NEW YORK, July 30.-The strong in
terests that have been buying Rock Island
say that the stock will reach a very much
higher level, and that the reactions from
these prices will not be at all pro-
nounced. Until the panicky times Of 1892,
Rock Island never got below 75l2, the
price which was reached on June s Of
last year. 1t is true that in March, 1891,
on the Barring panics, quotation at
SO 3-8 was made one day, and that on
the rebound, few months later, Rock
Isla nd sold at 80 1-6. Its highest quota
tion was made in 1887, when in May of
that year 1t sold at 140 rs, and the abso-
lutte condition Of Rock Island today is
superior to what 1t was eight years ago.
The company has more money in its
treasury, and with the resumption OF 4
per cent. dividends, which will be the
prelude to the payment OF 8 per cent.
dividends, the stock will sell at 100 and
be maintained at the three figures, or
above.
The prevailing opinion last night was
that the Changers might steady, or per-
haps recede little, but that the market
was in good shape, and one stock after
another would be put up until a higher
average had been established.
Manhattan ought TO have a sharp and
well-sutained advance. In the course OF
six weeks the directors will declare their
regular dividend OF 1lo per cent. for the
quarter and by that time there will be
in the city 200, 900 or more persons than
there are today. 1t can be stated on the
very highest aut theFity that the Man
haitian is, Notwithstanding the dull times
at present, making its full dividends and
something beside, and these results are
accomplished after the payment for
equipment and other incidentals that
might rightly be charged up to operating
expenses.
and st. Paul, 3-S and Is lower.
Atchison earnings for the third week OF
July increased $29, 123; whole system
increase, S33, $40.
st. Paul shows for the year about
$50, 900 less. The operating expenses will
show big decrease, but the statement
for June, issued yesterday, only shows
90 per cent, the gross being y, 263, 600
and the net 81, ,11s,Oo0.
The Coal sales agents will hold meet
ing tomorrow.
Dow, Jones & Co., say that a strike
among the Pittsburg district miners
seems Inevitable.
The statement OF the Minneapolis st.
Louis Co., for June 80, showing net earn
ings Of $3.50, 600 is considered satisfactory
and foreshadows under the regime of the
reorganized company earnings OF at least
$3.50, 900 next year, and q dividend on the
second preferred stock as consequence
at an early date.
ToDAY's STOCK BOARD.
WALL STREET, July 30.-The stock
market opened with considerable anima-
ton, although irregular in tone. The
changes in values were, in the main, In
consequential. There was good inquiry
for Sugar, and a rise of 81 per cent. was
recorded.
The feature just previous to noon was
the buying of Louisville & Nashville, un-
der which the stock rose / 3-S per cent.
The general market was firm up to IL 45
O'Clock, when realizing sales caused
reactionary tendency, but the losses were
trifiing. Sales to noon 129, 700 shares in
cluding 81, 500 listed and 81, 900 unlisted.
There has been pronounced inquiry for
Tennessee Coal since noon and a gain
has been established of l Ia per cent.
over the low prices of the morning. In
the rest of the list values ranged lower
but In no case were the losses serious.
The strength of Louisville & Nashville
this morning was due TO report that
the directors have under consideration
the paying off of adjustment bonds TO
the amount of 81, $50, 600, of which $751;
600 are held in the treasury.
Lead and Missouri Pacific were quite
prominent after 1915 and advanced l per
cent each. The other shares traded in,
however, moved in an opposite direction,
but the losses were but fractional with
the Changers, Leather preferred and Chi
cago Gas being most prominent in the
recession.