The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-06
FINANCIAL NEWS.
Sugar Will Have an Uninterrupted
Career Of Prosperity.
Manhattan Elevated Attack-Favora-
bic News on ossip.
Special to The News.

n.
ing Congress has three weeks more OF life.
1t will die, to all intents and purposes, on
Friday, March /. In the interval, its
working days will number about1s. 1t
is comparatively easy, therefore, for peo-
pie with or without political training, TO
look into these three weeks and see
what 1t was possible for Congress to do.
1t is certain that no very important
measures will occupylits attention. III,
therefore, with the adjournment OF Con-
gress the country Is to be relieved OF
nightmare and business Is TO be resumed
on normal basis, reasons in plenty ere
found for looking for broader and more
active stock market.
1t is certain that for rs months or more
to come there will be no legislative inter-
ference with the American sugar refining
industry. In the meantime the company
will continue the even tenor of its way,
and as business is picking up,
dividends will be maintained, and,
as II. o. Havemeyer asserts, the Sugar
Company is in position TO make, year in
and year out, from is to % per cent. upon
its common stock, in addition TO the per
cent. on the preferred. That the Ameri-
can Sugar Refining Company is doing
an excellent business no one can
doubt. Six weeks or more ago
the stockholders were supposed to
have held their annual meeting. Secre-
tary John s. Searles failed to submit an
annual report, for tho reason /" that 1t is
still In the printers hands, incomplete.
but will be finished in a few days." and
would then be mailed to every stock
holder of the American Sugar
Refining Company. This statement
ment has failed to put in ali appearance.
The truth is the company is not disclos-
ing any more of its secrets than it possi-
bly, can help.
Mr.. Savin was the principal seller of
Gas early In the day yesterday but
after the announcement of the
resignation OF the directors
connected with the former management,
he bought stock and bid the price up.
This was called Standard Oil buying and
brought some following on the theory
that the new interests would wish to
signalize their control by some advance
in quotations. 1t was reported last night
that the next news of Importance on Gas
would come from Chicago and would be in
the form of an announcement that the
Attorney General had modified his views
somewhat and was prepared to believe
the gas companies not so bad as they have
been painted.
The features in the market were not so
very pronounced. The early selling was
regarded as realizing and for traders,
short turns. The afternoon buy
ing appeared to be taking back
stock sold early in the forenoon with some
little buying on belief that the bond issue
might be announced today. The taking
up of the currency bill, however, was an
indication that action on the bond issue
might be deferred until after the vote In
the House tomorrow.
In all probability there will be an at
tack made upon Manhattan. AT least, this
is the point given out sub-rosa and those
interests that lost a great deal of money
month or so ago, in endeavoring to down
the stock, propose to test the market
again for this speciality.
There is no doubt at all about the in
creased business the Manhattan road is
doing. It's earnings have picked up fully
$500 day during the past few days, and
it Is again carrying as many passengers as
at any time at this season of the year.
General Financial Notes.
Americans in London are reactionary;
declines extend to * per cent. On reports
that there has been a serious hitch in the
bond negotiations, American securities
have reacted q to u per cent. and
are now barely steady at some
fractions below New York parity.
l.. & N. is equal to 52h; st. Paul, 56K
Northern Pacific, 16h, Reading shows an
advance of *, while the Vanderbilt issues
ere firm.
Southern Railway earnings for the
fourth week in January increased S25,111;
for the month, s23,9iS.
Northwest receipts, 101 cars; last year,
81.
1t is reported from Washington that
there is hitch in the bond negotiation.
This will cause an uneasy feeling in
stocks, but prices are not likely to decline
much unless there is an imp 5rtant delay
In the issue.
Wheat opened dull at X decline in face
of higher cables from both England and
the continent. A few commission
houses who have orders are selling in a
small way. Provisions opened stronger
on higher prices for buys.
NJ, X. d T., for the fourth week OF JAM
uary, increased s62, ,293; for the month,
s233, 1850. This increase Is the lergcst i'm
the history OF the company.
Liverpool sales 10000; futures dull and
unchanged and about y point lower. The
demand was moderate at fractional de-)
cline. -
Providence Clearing House.
The clearings OF the Providence banks
today amounted TO S762,50O.
New York stock Quotations.
REPORTED by MILLER a VAUGHN.