The morning call., 1894-09-22

NEW YORK, Sept. 21.-Rock Island was the
feature of speculation on the Stock Exchange to-
day. There had been question to the actions
of directors as to the dividend for the current
quarter, which was regarded as settled this morn
ing IN favor of the usual per cent. as II proved
there was basis existent this belief but the
short interest which had sold the basis Of a
duetion OF dividend fastened to cover. The room
traders also bought and the combiBc1 purchases
caused an advance OF Ia TO IS Is. W hen the stock
mad reached TINS point there were rum ors that
directors ting would go over until tomorrow
and the prices sagged off a fraction. Soon after
noon the announcements that a dividend OF Ian
per cent had been declared reached the exchange
and final determined assault was made on the
share. The buyers OF the morning threw their
stock on the market and the bears put cut fresh
lines of shorts.
steady and at times sharp decline resulted,
which continued up the close. the last being the
lowest price of the days per cent from the high
est figure of the morning ana "a per cent below
yesterdays closing sale The fan OF the dividend
rate should not have been regarded
peCteC. President Cable had oniy short while
ago made statement in which he SCI forth the
uutavor2Dle business prospects OF the company,
and while making no reference to the dividend,
clearly foreshadowed to-day's acton which Is in
tuil accord with the uniform polcy OF the ROCK
Island Company not to declare a dividend if not
earned Three years ago the rate OF dividend was
reduced to 1s per cent Ter TWO successive quarters
without any break IN the stock which immedi-
ately followed the first reduction, there
a steady recovery thereafter. The other graugers
in to-day's market followed the course OF the
Rock Island as sympAthizer movement st.
PAM opeued 1s lower. rose 3Js and declined 85
northwestern advanced 2s and fell off "a and
both closed at the lowest of The day. Sugar
usual was most active in the dealings, but only
particfpated moderately In the speculative move
ment making a decline OF Il per cent the
days TRANSACTIONS, the preferred recording N
decline. 1he market at large was firm at che
opening, but became depressed In sympathy with
the break in the grangers and closed heavy
near the owest OF the day The princlpa DE-
cIInes are: U. p. Missouri Pacific, Northern
Pacific pfd IS and American Distilling 12. Some
of the speciaIties moved INDEPENDENTLY OF the
active list ana showed gains on the day including
OREGON Navigation IA; Lake Shore / rs.
The bond market WAS not affected by the de-
preston existing In the share list. but firm
throughout tho day. In most OF the securities
bonds firm: State bonds dull; railroad bends firm.
Petroleum irmer; Pennsylvania oil sales none;
October options sales mono, closed 83 bid: Lima
oil sales none.
GRAIN AND MERCHANDISE.
wbeat-SeptemDer, $500
FIofr-Steady.
Hops-Duli.
wool-Quiet.
PIgirOn-Dull
COpper-Steady.
Tin-Quet: straights, sl6 25g Is 40; Plates,
quiet; speter, firm; domestic, 50 45@3 90 sales
on Change: rs tons November Tin st $l6 OS@
Is so: 50 tons December Til st 81 o so.
Cofee-Options opened barely steady, with No
vember unchanged and others 8 TO Is points de-
clIned. KILLED generally weak, closed easy at ~
to 30 points net dec inc. sales. z4,5oO bags. In
Guiding September, S149l4 10; october, Sl5 ~
0l3 40; November, Sl4 FOG 80: December.
Sl2 3'@l2 80; January. $l2 l59l2 50: March,
Sll 600 49,
Spot Coffee-Rio, dull: No. 7, 1880; mild.
santos No. spot at 57sc eI-ship; $50 bags SAN
tos NO. 5, d and az lie; 500 bags Rio No. z and
at l5c, o be shipped: 500 bags santos NO s. .
and q 1t - 81. and 1000 bags santos p. L
santos-Weak: good average santos, 11S30O.
Receipts 1900 bags; Stock. 10000 bags
HamDurg-Dnll: prices unchanged to IA pig
Havre-Opened irregular, 14i2Af advance. AT
IL noon. unchanged; at p NJ, steady. un-