Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-12
Sugar Still at the Head of Specu-
lative Stocks.
A GAIN OF TWO PER CENT IN PRICE
Dividend Declarations Of Interest
in the Street.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, June 12.-The settlement Of
the coal strike encouraged traders to bid
up prices at the opening of today's market,
ana forced some covering of yesterdays
short sales. London cables reflected
stifrer market for our securities based
largely On the prospects OF a satisfactory
settlement of the labor troubles. The early
advance in the regular list varied from Ia
TO IL per cent. Later on the receipt of
large selling orders in Burlington, the en-
tire list reacted sympathetically. These
orders Were traced TO Boston houses and
with the liberal assistance Of the room ele-
ment resulted In 3-S per cent reduc-
ton in the price of that stock. The losses
elsewhere in the railroad list were covered
by smaller fractions. and We're not the re-
suit Of any significant causes. The room
has abandoned the original presumption
that other roads would speedily initiate
New Ravens example, by a reduction of
present dividend rates. The action of the
latter road is believed to have been the re-
suit Of the mistaken policy of guarantee
ing interest on other securities
The executive committee of the Western
Union recommended the payment of the
regular IL per cent dividend. and report
that the ccmpany's earnings justify their
action Manhattan directors also declared
that company. The question of dividends
Is likely to play an important part in the
stock market during the balance Of the
year, and certain obligations of this char
acter maturing next autumn are exceed
ingly doubtful OF being met
In the Industrial group prices were given
good support. and recorded slight gains as
the result OF the days trading. Sugar oc-
cupied its accustomed place at the head OF
the list, and on liberal trading annexed =
per cent to initial figures.
The stock which sold last week for the
purpose of keeping down the price has not
been replaced. and reaction from the in
side is expected I'm order to establish a sat
isfactory purchasing point. The action OF
the stock today, however, did not indicate
that there was any Immediate intention of
resorting TO this well-known device. II is
expected that substantial rise in this
property will take place before final action
is taken on the tariff bill, and for this rea-
son shrewd operators increase their hold
ings or all concessions.
Chicago Gas gained l per cent on early
trading. 2nd representatives Of the pool
were quietly taking all the cheap stock in
sight The balance of this group of stocks
recorded slight gains, but were only mod
erately dealt In.
The market for sterling exchange was
dull and slightly easier in tone. The small
margin OF profit TO the local exporter is
likely TO discourage any large gold ship
ments during the week The outflow OF
gold is not expected to extend into next
month, and will show steady decreases from
now on.
The afternoons trading was dull steady
and without special feature. There was no
news on which to base purchases. and re-
cent experiences on the short side were
sufficient to discourage a renewal Of such
risks. Trading throughout the dav was
purely professional and resulted in an fr-
which were well supported up to the close
Of business.