The Providence news. (Providence [R.I.]) 1891-1906, 1897-08-18
FINANCIAL.
TOday'S Prices Were Ir-
regular.
Slight Recession Incidental
to a Healthy Boom.
Burlington Dividend Of Per Cent
Declared To-Day.

. The market was inclined to be q little ner=
vous today and prices were irregular. Up 10
the present time there has been no informa'
tion upon which 10 base reaction, and ii is
still the opinion Of some OF the best judges
that these roeessions are entirely natural and
healthy. IL is certainly fact that good buy
ing orders have been found on every decline
and that those who have attempted to break
the market have mot with series Of disap-
continents.
Il. j. Knights Co, in their daily market let
ter. sag: "There has been some heavy realz-
ing in Northern Pac1c preferred since the
announcement OF the new president. Not
withsanding this. people who are connected
with the company say that the outlook is now
brighter than il has been at any time in
years. The general manager OF St. Paul also
makes most favorable report. He states
that the wheat crop in Minnesota and the
Dakotas will be 10000 600 to 30 900 600 in excess
Of last year, and that IL will be marketed
earlier than usual. As the result, people are
now Offering 215 per cent for the next semi
annual dividend. Similar reports come from
other sources. The Western Union Company
Is working additional forces all night and the
business is said to be the largest in the his
tory Of the corporati n. The Sugar people are
also said 10 be in clover and il is stated that
the stock would now be selling for more than
$50 II il had not been for realizing by the ex-
ecutors { the estates OF two prominent Bos-
Ionians who were large holders Of Sugar
stock"
All the advices today are in a similar tone
and every one is of the opinion that the up
ward movement has yet TO see its best days.
In spite of this fact, the market retains its
strength well. and whore there are no az
vances there are at least material de-
cines, which argues that for once the public
IL messed on the safe side.
All the stocks acted very we'll today and
the Gould stocks, particularly Missouri Pa
cifc, attracted favor by their excellent dis.
play of strength. There Is good advice to
the effect that Missouri Pacific will sell at IS
within the next few days. IL IL almost need
less to say that such predictions are often
verified nowadays, md there is no question
but tbat the road ~ doing better than at any
time within decade OF its history.
The directors OF Burlington met in Boston
today and declared quarterly dividend Of
per cent, payable on September Is.
The earnings Of Missouri Pacific for the sec
ond week of August show an increase of s62,
600. Mexican Central for tte same time
shows an increase Of $4,000.
New York dispatch today states that the
price of spirits is to be advanced cont per
gallon.
The wheat market was quite strong today,
opening 8 cents above yesterdays closing
price. The advance was said TO be based
upon the adverse reports from the west II
was stated that John Cudahy was Of the pm.
ion that there ought to be a break in tho inar.
ket, but as the crop experts were reporting
that the spring wheat threshings were disap.
pointing the traders did not look for the de-
cine. In the meantime the foreign demand
continues practically unnbated. ana tho re-
ports of crop conditions in other countries
continue just as favorable 10 higher prices
ON this side