The Providence news. (Providence [R.I.]) 1891-1906, 1896-03-03
FINANCIAL NEWS
Talk in Coal Trade Centering
on Spring Prices.
Necessity of Independent Audit of Railroad
Accounts the Chief Street Topic.
erec,al 70 The News.

erecia, 70 Tho News
NEW YORK, March Stalk on the coal
| trade is center .ng on spring prices. A
month ago 1t was said that If there was
no advance March there would be one
| April of % cents. Now opinion is less
definite on this point and some are in
clined to the bel EFF that there will be no
change in prices. In substantiation it is
cited that prices are always reduced in
the spring to stimulate q stocking de-
mand.
Action on the Sugar dividend Is ex-
pected to be taken within few days. A
good authority says there will be no ex-
ira dividend, although il is admitted that
the amount OF surplus belonging to the
stockholders holds out the promise of
extra dividends at some future time. Ii is
estimated that the purchasers of raw
Sugar, and the payments which Will ma
ture thereon will form an important ele-
ment in Sugar affairs in tie next few
months.
The earnings in st. Paul for the fourth
week and the month of February should
be given out in Chicago tonight. There
is an extra day IN the week and month
this year so that the showing will be par
ticularly favorable.
ty of independent audit of railroad ac-
counts, a system which has been adopted
by some of the best roads and for which
there has been and Is an urgent demand.
The fact that b. *. .. sold 10. 600 shares
of Western Union more than year ago,
and a good many insiders and the public
knew nothing about it, was urged a an
! argument for specification of secu rites
| owned by each and every road. The stock
holders have right to know the nature OF
| such assets.
Tobacco people say they have not re-
duced the price OF Battle Axe plug to
| meet the new competition and have no in
| tention of so doing. They regard the re-
! duction of cents by the Liggitt-Myers
| people as a confession of weakness and
| claim that the Battle Axe hold on the
trade is growing stronger daily.
GENERAL FINANCIAL NOTES
A st. Louis special says the leading
antitrust manufacturers OF tobacco have
| decided to make cigarettes. The plans
| were consummated at meeting at
Planters Hotel.
Joseph says: "Boston is becoming
bearish on Sugar. Private dispatches say
trouble with Spain on account Of Cuba
| seems assured Sugar is sure to suffer.
T. e dividend OF three per cent. will be
declared tomorrow, but this will not
| boom the stock in the face of existing
conditions. Sell b. & o. 1t is not worth
as much as Union Pacific. Sell 1t and
keep short. Get little LEATHER preferred.
| Hold a little Western Union, also some
Missouri Pacific. Get some ST. Paul; it
| will render a better account of itself than
any other Granger"
j. S. Bache Il Company say: "The
most important item OF news we hear is
| that the coal companies have advanced
| prices 10 cents and that because of the sea-
I 10 hor bo fvNtt A. i'm air,u
| from 100, 600 to 125, ,0C0 tons per day. II
| would seem as il Read ng. Delaware q
| Hudson and Jersey Central should be
bought ON any decline. The spring rise
will be late in starting this year."
London is Is lower for L. q n. and Il
Gold Withdrawals from the treasury
| yesterday, $500
1he Gas hearing before the Illinois Su.
| preme Court will come up thi' week.
| The Pennsylvania statement for 1895
shows a surplus over dividends of s2, 1863,
Asa good showing.
LOCAL STOCKS DULL.
The loca. stock market Is devoid of col.
or, unless IL be dull color, for no bank
| stocks or anything else that may be cou-
| sidered gilt edge are offered. There are
demands enough for them at good prices,
but holders are holding on.
| THE DENVER RAILROADS.
Mr.. Joshua Wilbour of Wilbour, Jack.
son q Company, speaking of the filing OF
| Incorporation papers in Denver last Satur'
| day for the consolidation or the street,
electric and cable roads OF that city, ol
which he is director and incorporation
says 1t was done simply as matter oi
form. The read will probably be turned
| over to the new corporation in May,
| when we may expect TO hear good re-
| ports of the new regime.
| ToDAY's STOCK BOARD.
WALL STREET, 1915 a. m.-The initial
| prices were irreguler with the changes un.
important. Trading was in fair volume
| and the market now shows a decided
| tendency toward Improvement with sugar
and the Changers and l.. & ". most in de-
mand. The silver certificates sold al
| 66 5-S@66s. for S12, 900.
Mining Stock.
| The following are the closing bid prices
| Of the listed stocks on the Colorado Min.
| ing Stock Exchange, Denver, Feb. 2s, as
reported by Il. L. Davis u Company, 24i
| Washington street. Boston.