The Providence news. (Providence [R.I.]) 1891-1906, 1895-10-18
FINANCIAL NEWS.
st. Paul Dividend will Pos
itively Be Increased.
Stock Market Likely to Continue
Largely Professional.

| NEW YORK, Oct. 1s.-Insiders OF st.
| Paul are taking a most encouraging view
of the outlook, as far as their property is
concerned. When the directors meet in
March, thefe will positively be an in
crease in the dividend. There Is one
thing absolutely certain, and that is the
earnings of st. Paul will show for the
fiscal year, computing on the present
basis OF returns, not less than pes
cent. earned over and above all fixed
charges, and the dividends on the pre-
fsrred. Now, whether their directors will
conclude to be liberal is matter u at will
not be decided until March next. Stock
holders, however, have the positive assur-
ance that their road was never in better
physical condition, the company's finances
never stood as well, and its capacity for
handling business was never greater than
at the present time.
The market in all likelihood will con-
tinue to be largely professional. The
fact 10 not to be disguised that commits
sion people are doing very little business,
and the outside public seems to be hold
Ing aloof. The most encouraging fact is
the daily presence of some old timer who
comes into the street to buy stocks, recog-
nizing that they are selling on a suffi-
ciently low basis to tempt capital out of
most tightly closed pockets.
AS preparations are being made to close
| some of the sugar refneries and the trade
reports continue conflicting, 1t is not
unlikely that Sugar will temporarily seek
q lower level.
The short interest in the Grsngers is
large, and in the absence of any ship
msnts OF gold, rally in the Western
| group 10 highly probable Southern Sc
curities should likewise recover on the
knowledge that Il restoration Of rates will
be ordered by the Southern Railway Asso-
citation.
| COTTON.
|. Liverpool: Cotton demand fair, prices
firm; middlings, 5-16; sales, 10000
bales; sales of the week, so, 600, of which
1000 are Americans. Futures quiet at
about 3-64 advance. New York Cotton fu-
lures opened steady at the decline; sales,
1900 bales. JAM, 9.20; Feb, 9.24;
March, 9.2s; April, 9.32; May. 9.37; June,
e.42; Now, 907; Dec, 9.13
| roDAY's STOCK BOARD.
WALL STREET, Oct. IS. The stock mar
ket opened quiet and irregular. Chicago
| Gas and Tennessee Coal eased off. but
| the general list was steady.
GENERAL FINANCIAL NOTES.
Joseph says: "For this relief much
L
threatened suits to prevent the reoragniz-
alton OF the Chicago Gas Company, have
begun by q man named Gregory, and
| his native heath is Connecticut Now
don't become demoralized; just hold Gas
and see how blackmsilipg suits are treat
ed by judges of the United States Circuit
| Courts"
In London, l. & N, Union Pacific and
'Atchison, are 1-S lower; rest of the list
unchanged.
| A. 8. Gregory, representing Pitt Bar
| rows of Willimantic, Conn, who is
| bondholder In three OF the four principal
companies Of the Gas Trust, has moved
before the United States Court against
| consolidation. The objections are that
| the Supreme Court OF the State custer the
Gas Trust from its attempt to control and
monopolize the gas supply Of Chicago;
| that the resolution to disbsnd under ous-
| ter OF the Supreme Court was not in good
faith, and that consolidation will leopard
| ize the rights OF franchises and property
of each and all the companies.
Treasury gold, s93, 100, 4s1; excess OF
expenditures SO far this month, $40, ,477,-
442.
j. 8. Bache & Co. telegraph to Miller q
Vaughan: "We 40 not look for any gold
shipments tomorrow"
The time for depositing Gas certifcateS
has been extended to November 10.
The Union Pacific plan calls for SIS on
| the common, fos which per cent pre-
ferred stock will be given. The COM
papy intends to handle 1927 miles.
There will be sl0o, 200, 900 4 per cent.
bonds; s75, 0Oo, 900 4 per cent. preferred,
and common unchanged. About s36, oO0,-
600 bonds, and s2l, 600, 900 preferred stock
are reserved to restore Government obli-
cations.
Western freight agents agreed last night
upon the restoration OF all tariffs, except
that on coal.
The Manhattan Elevated is said to be
looking into the merits OF the electric
storage battery system.
Southern Railway earnings for the sec
ond week OF October increased SIS, 9iS;
Canadian Pacific, increase, s20,0)l
LOCAL STOCK QUOTATIONS.
FRos siLLxR VAUGHAN.
American ...... a. ss Nat Ex......ioo 80.
AtisntIc........ - 80. Nat " AM. %
black Canal. rs 7s. Nat COM. ~
cit, 80. 50 .... Old ..........ii1. iie