Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-09-26
Declaration of New York Centrals
Dividend Helps the Price.
TEE PROBABLE EFFECT OF fHE ACTION
Sugar Fell on the Report Of Closing
Refineries.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening star.

Special Dispatch to The Evening star
NEW YORK, September 26.-Speculation
was irregular this morning as the result Of
covering I'm the Changers and rather free
selling in other parts of the list. The de-
claration Of the regular quarterly dividend
on New York Central was responsible for
the covering movement and added 1 l-2
per cent to the value of the stock most
directly concerned. The company's state
ment for the quarter ending September 80
will show a deficit of $4,000. but the pros
poets are sufficiently encouraging to war
rant the belief that this item will be trans
ferred to the other side Of the account dur
ing the winter. The result Of today's action
In this particular will prove a valuable
acquisition to the bull cause during the
next period OF activity.
Manhattan was unfavorabiy Influenced by
the announcement that the solution OF the
rapid transit difficulties would be determin-
ed by a popular vote on the subject this fall
Agitation Of this character would have an
adverse effect on the market value OF the
stock, but the conservative clement do not
regard the probable cute any mark
ed degree of apprehension.
Sugar opened down fractionaIly on the
published announcement that the company
had closed some OF its refineries. and would
cease operations entirely sometime during
the coming week. The amount OF refined
sugar now on hand is more than equal to
the demends Of the trade. and operations
could only be continued at a loss 10 the com
pzny. After declining 5-s per cent at the
opening, the price OF the stock was adj
Fanced l per cent on buying for both ac-
counts. The purpose OF those intrusted With
the manipulation OF the property is an un-
known quantity but no advance beyond the
recognized limits of a rally Is justified By
existing conditions.
The Changers We're all improved within
the extremes of 1-2 and IS per cent. Bur-
lirgton making the greatest gain De-
creased earnings resulted in a I per cent
loss for Missouri Pacific, and Readings un-
popular reorganization scheme attracted
further selling on a declining scale
In point of activity Distillers was again n
prominent feature of the days trading, de-
clining per cent on accommodating r1lmors
of financial difficulties. Beyond the fact
that the complicated system Of rebate
vouchers is responsible for the present un-
fortunate condition of the company no par
ticulars are obtainable. The general specu-
lative undertone is void of all bull enthusi-
esn1, the professional element partly from
choice and partly from habit. preferring TO
operate on the short side of the market
The situation in the west should not be
permitted to dominate the course Of prices
for securities dependent on an entirely
oinerent set OF conditions. but In the pres
ent narrowness such result seems In
evitable. The bears are in possession of the
quotation-making machinery, and can only
be elected by a popular public demand for
securities
The market for foreign exchange present.
ed no new features this morning The vol
time OF busiress is light. and rates and
conditions unchanged. The last hours trad
Ing was fairly active under an organized
bear attack. Prices yielded fro mthe better
ngures or the previous hour. and closed
irregular, with concessions predominaJing.