The Providence news. (Providence [R.I.]) 1891-1906, 1895-03-13
FINANCIAL NEWS
Western Union Dividend Out
Today--Earnings Poor.
Wheat, Cotton, Provisions-Sugar
Gossip News Notes.
Special to the News.

4
NEW YORK, March 13.--As a general
thing the publication OF the Western
Union statement for the quarter is sig
nailed by somewhat OF a decline in the
stock.
The directors will meet at II 80 D. m.
today and in 20 minutes their action, al
ready cut and dried, will be given to the
street.
The statement for the three months
ending six weeks hence will, by computa-
tion, show, under q, 100000, distinctly
poor quarter but the dividend of IA per
cent. on the slOO,OO0,0OO capitalization
will be formally declared. The report, for
reasons that viii! be generally understood,
will be made as favorable as possible and
the estimate for the month will be
based upon the returns for the CORES
ponding period last year. This estimate
ought, TO say the least, TO be fulfilled for
the reason that we have had a very heavy
winter and the atmospherical conditions
from this on will be more reasonable than
were those for the past two months.
| Then, again, revival in general
business will of necessity have tendency
TO help the Western Union to no incon-
siderable extent, so that il the company
estimates the months returns applicable
to net profits at 100000 it probably will
not be far out of the way.
The street has now accepted as a fore
| gone conclusion that the directors of the
| ST. Paul will declare per cent. dividend
| tomorrow.
The only question upon which traders
are divided is whether at current prices
st. Paul can be considered cheap. There
is every reason to believe, however, that
If not actually grinding on bottom the
| stock is not likely TO decline much. In
good years st. Paul can make from to
per cent. on the common and
! it will be the policy OF the
board that any temporary reduction in
dividend will be made up at some subse-
quent meeting, providing of course that
the Improvement so gener lily expected
eventuates in due course.
There is good demand IN the loan
crowd. Quite a number of stocks in
which the short interest is unquestion-
ably very large command a premium.
New York Central loaned at
lie and Jersey Central, and there is pos
itively nothing in the condition of the
coaltrade for the moment upon which to
bull any of the high priced anthracites-
loaned at 1-32. This must be regarded as
an evidence that the insiders that were
partly responsible for the recent ma
nipulations have gotten through
selling. The bears, however, have been
unable to get back their contracts, so it
would not be surprising IL there should
be a further spurt in Jersey Central, as
also in Lackawanna. The buyers of G. b.
q O. and l.. & n. say that stock does not
come out freely and that both look as il
they will appreciate still further.
Sugar was in plentiful demand and the
stock loaned fat A good many that
tried to borrow yesterday went home
without getting their stock and it is not
unreasonable to look for higher prices for
II. o. Havemeyer's pet speciality.
Excellent judges of the market for
Sugar say that it will be comparatively
safer to buy it on moderate scale from
these prices than it will be 10
go short even for the flyer.
Stop orders placed at 1O1 mig ii reached,
carry il to 100, but it woulj rally very
quickly. The expected unfavorabe action
that was TO have taken place yesterday in
the German Reichstag failed OF material
ization. The sugar company is making
money hand over fist and there is no
doubt a. to its maintaining its dividends.
Manhattan ought TO improve. It will
be many long year before there is any
rapid transit. Another and very formi-
dable snag has been struck. The prop
erty owners strenuously object TO the
construction OF a viaduct road along the
Boulevard. They maintain that such a
road would depreciate value of their prop
erty. President Orr does not feel at all
confident OF carrying the rapid transit
scheme through.
In the meantime Mathattan will con-
tinue business at the old stands; il will
rake in the dimes and constantly pay
dividends at the rate OF @ per cent.
The bears in New York Central have a
good many outstanding contracts TO make
good and after Friday they Will probably
endeavor to get at least portion OF these
back in the London market
General Financial Notes.
Bankers are watching other markets.
and the recent advance I'm Wheat, Cotton
and even silver are noteworthy. II this
continues, IL will be a great step toward
restoration OF confidence.
The Southern Railway earnings for the
first week OF March decreased s5321.
A London special says: "Stocks active.
The fortnightly settlements have pro-
gressed favora5ly and owing TO the de-
claration OF dividends on Americans, ana
prospective favorable on 81. Paul's and
New York Central's, prices have rallied
freely"
The fight over the legality OF the two
recent Doodle ordinances, the Ogden Gas
and Cosmopolitan Electric Company's,
begins today.
The Chicago Gas directors will take
action on the dividend April Z. 1t will
probably be the regular I = per cent.
A prominent bear in New York sold
5000 June Cotton today.
The Western Union declared the rcau.