The Providence news. (Providence [R.I.]) 1891-1906, 1896-03-02
FINANCIAL NEWS
Is Missouri Pacific to Follow
Baltimore & Ohio?
Market In Most Perplexed Condition That
Has Been Seen tor Months.


New YORK, March 2-The president OF
Western road says that the sentiment seems
to be getting much more conservative In the
West in regard to railroad legislation by
legislators of the actual condition OF the rail-
road systems, and the necessity OF helping
rather than hurting them now. The failures
Of Western people to get improvements be-
cause OF the difficulty to got fresh isoney
from Eastern people Is doing much to change
the radical notions OF legislators.
The decline in Western Union was on be-
lief that the collapse in b. a. o., meant that
the 5000, 600 of Western Union, owned by
Baltimore g. Ohio. would como on the market
II was believed that this STOCK furnished an
important part of collateral In loans. and
that an equity Of some value must exist and
be needed. Some of the sellers OF Western
Union were influenced by belief that the
statement to be presented next month would
not be favorable, and that this would depress
the price Is somewhat apparent from other
considerations. The net revenues OF the March
quarter for the last few years have been;
1885, ST. 200 oOo 1894 sl.o94 70i; ls93 sl.5s4 43A;
1902 Sl,549,697. Interest and dividends call
for about 81, ,4s5. 600 for the quarter.
A stocKholder in the Leather company says:
"I understand that the bark lands Of tho
Leather company represent something like
s25, ,0O0, 600, and that the present value Is ma
terially above the cost. THIS stock of finished
leather and hides in process of manufacture
is equal TO about eight months supply. As IL
takes eight months to convert hides into
leather, the stock on hand is too excessive"
GENERAL FINANCIAL NOTES.
Edward Sweet g. Co.. said this morning.
ha Ralt a, IN ha
Spanish war talk are likely to put prices
down somewhat. The extent Of tho reaction
should depend on the size Of the short inter.
est, which has increased"
London is steady, with L. s. N. up a and
St. Paul is. The market there is narrow.
and may have been manipulated from this
side.
Fridays heavy sales from Washington turned
out to bo for prominent New York operator
who was over there.
Joseph says: 1.-The Is. g. o. scandal will
prove measurably worse than Wall street an
ticipsted. Don't sell W. u. under the impress
sion that there Is any b. g. o. stock TO be
Sold Millions Of b. g. o. most valuable treas
ury assets have long since been marketed.
Take advantage Of dips Of one or two points
to buy Grangers, l.. g. NJ, Missouri Pacific
and Tobacco. The bears will have an innings,
but recovery will follow"
This morning tho Financial Information
Bureau sent out word that the Nj. o. +. win
have a receivership appointed this week. BY
the same token j. Arthur Joseph Of the Town
Topics bureau says "buy NJ. o. p"
j. S. Bache says: "The condition Of the B.
81 q. will be found worse than expected.
George Gould said the b. & o. equity In W. u.
is slight, IL any. We have the best reason for
saying the adverse rumors concerning Mis-.
souri, Pacific will be put to rest today by
statement to the public"
Latest advices indicate that Attorney Gen.
eral Moloney will delay the argument on the
Chicago Gas mandamus. 1t looks as IL in
siders in Gas not averse to creating a
short interest in their stock.
Viewed calmly. the situation is more com.
plex than 1t has been for some weeks.
Saturday sl65, 900 gold was withdrawn from
the Treasury. Gold balance. Sl22, 63s, ,093. The
debt statement for February Will show q
small decrease.
Raw Sugar holders and importers are con-
ident for higher values. despite recent reao-
tions. Refined is unchanged.
Local Stock Quotations.
FpoM MILLER A ykuauAN