The daily morning journal and courier., 1894-11-22
Ftnanctal.
Burlington and Quincy Dividend Matter
 an Oyershsdowirg Feature.

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 New York, N, . -.,-Ths Sversnadow- ing feature Of the sr~sSulation at the stock exchange to-day was the Chiea- go, Burlington and Quincy dividend matter During the morning session an impression prevailed that the direc- tors would declare the regular rate. It was then argued that if the Burlington and Quincy people could maintain their regular payments there was no reason why the Northwest directors at their coming meeting could not do the same. Consequently there was quite bullish feeling throughout the morning. Prices moved up Y to IA per cent, the leaders in the movement being American su- gar. the grangers, Louisville and Nash vile, Missouri Pacific, Reading and Western Union.
 Near midday private reports were re- ceived from Boston that the directors of the Quincy had declared the usual quarterly dividend of 1A per cent. On this there was wish to cover, and brokers who had discretionary orders bought big line of the stock. A feel ing of hesitancy was then noted, due to another Boston dispatch that the div idend had not been declared as yet, and that the directors were still in conference. Then came the official an- nouncement that the dividend had been reduced from K to 1 per cent. per quarter. This led to the biggest sell ing movement in the stock for a long time, under which the price yielded from TAX to 70H. The other granger were also put under the hammer and St. Paul dropped to 5Sa, Northwest 2h. to 9S and Rock Island 1% to 6ob Among the other prominent issues Lackawanna sold down 2ss to l56S, Western Union to STE, Manhattan 1M to 1O3%, Lake Shore 1% to 1884, Delaware and Hudson 1 to 123h, Jer- sey Central 2 to 92, Lead 1 to 4l, New York Central to 9Sk, Cordage to 91s Cordage preferred 1X to 16, Cordage Guaranteed 2 to 2S, Southern Railway preferred 9 to 35A, and Bay State Gas | 2$ to 24
 The street was indignant at the meth ods employed by those handling the news of the Chicago, Burlington ana Quincy dividend, and 1t is understood that the matter will not be dropped until a thorough investigation is had. American Sugar was the only stock on 1 the list that refused to be influenced by the demoralization in the grangers In the early trading the stock was marked up 1A to 91b. When the gran gers broke there was a recession to 90, but in the last half hour the stock sold up to 91%. Its strength steadied the | general market for time. Near the close, however, there were renewed liouidations in Quincy, and the stock broke to 07%.
 The closing was feverish. Net changes show losses of A to 3A per cent, Burlington and Quincy leading. Sugar gained 1% and Reading per cent. In the afternoon the market was unfavorably influenced by the further rise in the actual rates of sterling ex- change and by the talk of premium on gold. In regard to the latter 1t was said that intending purchasers of the new bonds had paid small premium for round amounts of gold. Bullion dealers say that the matter has no sig nificance whatever, and that the buyers evidently intend to add the premium, if they have actually paid one, to the selling price of the bonds, and in this way even up the trade. The questio is raised that premium is unnecces- sary, for the reason that the gold can be obtained by presenting legal tenders at the sub-treasury. There was also some vague talk about exports melted by the strength of the sterling ex- changes.
 Railway bonds were less active and the market weaker in tone. Sales only footed up $964,O00.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 46 Broadway, New York, and 15 Center street. New Haven: