Evening star., 1894-11-21
Effect of the Reduction of the Bur-
ington Dividend.
THE BULL MOVEMENT IN SUGAR
Discountlng the Effect Of the
Coming Dividend.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November 21.-Fractionaf
concessions In the London market were not
considered In making a basis for local
operations this morning. After a steady
opening, In which several advances were
reflected, prices were allowed TO hang idly
around first figures. pending Boston ad.
vices relative to the action on Burlington's
dividend. A report that the regular divt-
dend Of IA per cent had been declared re-
suited in an advance OF IL per cent In the
price Of the stock before 1t was declared
premature and unofficial. Later advices
earnings made II necessary to subtract 1
per cent from the usual rate. thereby re-
ducing 1t to 4 per cent per annum. Liberal
selling Of the stock on this announcement
resulted in a decline Of per cent from the
best prices OF the morning
The recent weekly reports foreshadowed
this action provided the legitimate profits
Of the system were relied upon to meet the
disbursement but II was feared that other
funds would be drawn on in order to con-
tinue the old rate. The action OF the d.
rectors in. limiting their liberality to the
amount Of the surplus earnings will receive
the approval of all conservative stockhold-
ers and will Justify a belief I'm the ability
Of the present management to promote the
best interests Of all concerned. .,
Northwest, about which fears of a SINH
lar necessity have been entertained of
late, declined l 1-2 per cent on selling by
the professional element. The lower-priced
grangers were less active but suffered
corresponding losses. Jersey Central de-
clined IA per cent under bear operations
and lowers prices are predicted as the re-
suit of an Improbable coal trade. ...--
Sugar was bought and bid UP by the
same brokers interested in the recent ad-
vance to 98 1-2. The probable declaration
Of the usual quarterly. dividend of per
cent two weeks hence is being used as
the incentive to the present movement.
Predictions are made that the stock will
approach very near to, IL II does not cross.
par on this effort. Inside intrests are be-
lieved to be united in this attempt to es-
tablish a good working level in case the
Senate act favorably on the free-sugar
measure likely to be brought up promptly
at the resumption Of that body's delibera-
tions.
The foreign exchange market opened
strong. with rates fully one-fourth higher
than those reported yesterday. The con-
tinued absence of commercial bills. a good
demand from remitters, and the higher
rate of discount in London have combined
are practically out Of the market, owing
to the limited volume Of foreign busin ,ss.
The last hours trading was active and
inclined toward irregularfty. The Grangers
were depressed to the lowest point IF the
day, and Sugar advanced to the highest
during this period. Final figures reflected
net losses for the day In a majority Of in
stances.
The C. b. and q. Divided.
BOSTON. Mass. November 21.-The reg
ular quarterly meeting of the directors of
the Chicago, Burlington and Quincy Rail-
road Company was held here today, and re-
suited in the declaration of a per cent
dividend. payable December 10. to stock
holders Of record Saturday, November "A.