The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-26
FINANCIAL NEWS
Sugar Is the Key Note to the
Situation
st. Paul Will Rise-Treasury Gold in
London Market-No,es.
Special 10 The News.

Special to The News.
NEW YORK, Feb. 26.-It will depend
largely upon what is done on Thursday OF
next week on the dividend as to the
future course of Sugar in the market. III
the regular 3 per cent. is de-
clared, the stock should unquestion-
ably improve on merit. 1t Is
by no means certain that this course
will be pursued by the directors and Sugar
may be marked down rapidly in order to
let those insiders who parted with their
stock months ago, get back their holdings
preparatory to marking the price back
again to those figures which should more
clearly represent II per cent. dividend
paying Industrial.
As far as the general market Is con-
cerned the feeling is more hopeful. II Is
that London will be persistent buyer of
stocks and IL European houses do take
hold OF American railroads, rs advices
from the other side would indicate, there
will come a sharp and substantial move
ment, particularly in those shares that
are largely held abroad for investment ac-
count.
The statements OF st. Paul up to date
indicate that directors, all reports to the
contrary notwithstanding, will keep the
common shares on the dividend paying
list. Those authorities, who in the past
have always outlined the policy OF the
company most accurately say that there
Is not a reasonable doubt that the board
will pay less than per cent. particularly
as the company earned fully rs per cent.
on their commerce. Under these circum-
stances, and recognizing that a number
OF bear contracts have yet to be made
good, it would not be surprising II st.
Paul should lead the market on rally
that might extend TO 2 per cent.
Just as soon as London stops selling its
speculative Louisville q Nashville this
stock will be taken in hand and put back
to those figures that prevailed few days
ago. Now that the Mardi Gras
festivals have begun, and will
be continued for at least 10
days, the earnings will pick up. The
stock is not dear for those who want to
buy 1t and hold it for ultimate results and
for others who simply want trade on the
short interest there may be or per cent
before the end of the week.
Railroad Earnings.
Canadian Pacific-3d Feb, dec. S2S, 900.
X. C., FIT. s. & NJ. system-2d Feb, s70,-
723; dec. s9297.
X. C., NJ. & B.-2d Feb, si4,4s4; dec.
s46si.
LIE. & w.-3d Feb, s67 7,96l; inc. $1,000.
r. G.. 81 W.-3d Feb, s31 800; inc. s17O0.
n. & W.-3d Feb, s16O, ,7i7; inc, s6035.
Iowa Cent.-3d Feb. s33, 3,544; dec, sl0,-
542.
NJ, X. & T.-Sd Feb, s214,577; inc,
s57,467.
w. & l.. Esd Feb, s26. 1896; inc, s6o73.
Wabash-3d Feb, s22o, ,467; inc, s46ls.
Cotton.
New York cotton futures opened steady;
sales, $500 bales. Feb. 5.35; March, BAL;
April, 5.42; May, $40; June, 5.4s; July.
5.52; Aug, 5.55; Sept, 5.60; Oct, 565;
Nov., 5.69; Dec, 5.73.
General Financial Notes.
A London special says "Americans firm
with tendency TO rally"
The bond deal has become thing of the
past and has had no beneficial effect on
the market.
The new Government Is sold at l1S24
yesterday.
Treasury gold this morning amounted
to s75, ,273, ,522.
The short interest was increased yester-
day in Northwest.
Dow, Jones & Company say that the
reorganization plan of the ID. {. +. will
assess stock less than s5.
Frank Wall and j. w. Loper OF the
Cordage Trust have secured the Penn
sylvania Cordage Mill 80 miles from
Philadelphia, and will operate 1t.
The Illinois Central road has arranged,
through Morton, Rose d Co. of London,
to extend the G 500, 900 1st mortgage 6s, due
April /, until ADril /, 1861, at per cent.
The average dividends paid by leading
English roads in 1891 were 4A per cent,
against Az in 1898, as in 1892, 3-23 in
1891 and 53s in 1890.
The directors OF the Canadian Pacific
declared f-yearly dividend OF 2per
cent. on the preferred stock, payable
April 1, to stock OF record March z.
The London Stock Exchange has listed
s30. $4,000 Central Trust Company en-
gravel certificates OF deposit for Phila-
delphiaO& Reading general mortgage 4
per cent. bonus.
A company Is being formed at Peoria TO
erect two large distlleries with a capacity
of Is, 600 barrels each. 1t is said that Pres
ident Greenhut OF ID. G. f. Is behind the
venture.
Receiver Walker Of the Atchison says
the company is holding its own with the
other roads and that regarding cotton
shipments, the road has done tho best
business IL ever had.
out in Chicago the Citizens Co-opera-
tive Gas Company has been incorporated
with 81 800, 900 capital
The Union stock Yards Company has
reduced the number of directors TO seven.
Nathaniel Thayer OF Boston has beer