The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-06
FINANCIAL NE VS..
Interesting Statements Re-
garding SpeciaIties.
New Brands Of Cigarettes Coming
Within Thirty Days.
Snacial 10 The News.

| NEW 1ORk, sept. b. western Union Is
by all odds the cheapest investment Sc
curity on the list. The company is earn
ing at the rate OF Z per cent. per annum,
is paying per cent. and has a dividend
| surplns OF over 81, 000, 900, which some
time in the future will be given TO the
stockholders Thousands of miles OF cop
! per wires have been strung throughout
the country, so that the cost OF doing
business has been considerably reduced.
The Western Union was never as prosper
Gus as II Is now and never looked forward
| 10 such continued increase in earning
| power. Commission people continue to
| feel quite hopeful in the general market
and many OF them report large buying or
| ders, the largest they have had in years,
| In all active issues, within l or per cent.
| rom these prices. This tangible support
VIII prevent any very marked reaction
| and each day develops the fact that the
bears have no chancee TO test the strength
| OF the active list, but they only succeed
| In increasing their number of outstand-
ing short contracts.
The people who bought Rock Island,
beginning their purchases around "a, aver
| that they have not parted with any or
their line of stock, nor do they intend to
sell at this side of 80, while many friends
| of II. X. Cable are advised TO hold their
Rock Island for 100, and 1t is even stated
that these figures will be reached before
the close OF the present year.
Boston is large holder OF G. Il. O.,
and the feeling throughout New En-
gland is especially hopeful.
Atchison has had quite substantial
" assessment two weeks hence the stock
is likely to have further jump that will
extend to per cent. or more.
The Manhattan is already beginning to
feel the good effects of the return of
travel, and since Labor Day the company
has handled on an average 40, 000 persons
per day more than for the previous week
This is simply an evidence OF the fact that
the patronage of the elevated system is
not falling off. On the contrary, with
normal conditions the company may be
looked TO TO make big money.
When the directors meet next week.
Tuesday, to take action on their divi-
dend, the statement that will be submit
ted T'll contradict all the sensational re-
ports that the bears have given currency
10. The committee that rs investigating
the electric power, with a view to ubstl-
tutipg 1t for steam on the elevated, say
the change will unquestionably be made
at no distant date.
An effort will probably be made to force
Chicago Gas down and all kinds OF bear
rumors are current upon this property.
There is no reason, however, to look for
any very serious depression in the price
OF the stock. The company is earning a
great deal of money and dividends are
aceumulating, and these in time, will be
paid.
ToDAY's STOCK BOARD
WALL STREET, Sept. 6.---The stock
market opened firm with the majority of
the stocks traded in showing a slight inn
provement over yesterdays final figures
Speculation was weak in tone after 1915
a. M, and Susquehanna 4 Western, pre-
ferred, went off III per cent, Leather
preferred and Canada Southern, /, and
the general list, fraction.
The tendency OF values continued
downward after IL a. m. New England
lost 81 and Chicago d Eastern Illinois
preferred / per cent. General Electric
and Tobacco were notable exceptions and
rose is and 2i2 per cent. respectively.
Toward noon they receded fractionally
Sales to noon 143 300 shares; including
132, 800 listed and II, 800 unlisted.
THE LooKED-FoR DIVIDEND.
NEW YORK, Sept. 6.-The directors of
the American Sugar Refining Company
have declared the regular quarterly divf-
dend of per cent. on the common and
1ss per cent. on the preferred stocks, psy-
able October z.
GILT-EDoED STOCK.
Richardson & Clark, the well-known
git -eGKcQ
this week in the shape of 5000 shares of
the Oswego q Syracuse Railroad Com
pany's . per cent. stock, guara nteed in
by the ID. l. q w. II. X. Co.
Dividends are payable Feb. 20 and Aug.
20 at the Office of the d. l.. & W., and are
exempt from taxation. Messrs. Richard
son n Clark, who are correspondents OF
Kerr Il Company OF New York
and Philadelphia, offer this stock in
amounts TO suit customers at s102. 90 and
accrued interest per share, at which price
II yields about 4. 40 per cent. tree of tax,
upon the investment, aud without hesita-
ton they recommend the same as an in
vestment of the most conse .vative de- |
scription.
WALL STREET, noon.-Money on call |
steady at 1 per cent. Prime mercantile |
paper 3ic(d5 per cent. Sterling exchange |
steady, with actual business in bankers |
bills at A. gO(s1I 901t for demand and at |
!. S901i. 9Sll FOR so days; posted rates,
l. s9aa 80 and 4.90@Lel. Commercial bills |
!. $751;. Silver certificates, 81 1-s(d67 SIS; |
10 sales. Bar silver 81 Mexican dollars |
,3 3-S Government bonds firm.
GENERAL FINANCIAL NOTES.
The result of the meeting yesterday OF
he plug tobacco manufacturers was a
esolution on the part OF all present TO
inter into reorganization TO manufacture
cigarettes. They will be placed on the
market within 30 days This means war
IN the American Tobacco Company to
he knife II will be bitter fight and
ong one.
Councilman a Day telegraph from Chit
ago that the tone on the curb this
morning shows lack OF confidence shown
fier closing yesterday.
Nesslage, Fuller 4 Copmany will ship
100,O 900 gold tomorrow; Grossman q
,rother will ship slWO,0)O probably
], 900. 900.
The earnings OF the Southern Raiiwey
or the fourth week OF August increased
l51e5.
mo 4 nndnn markell Ia sllnhtIv hnltnr |