Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-21
The New Loan the Absorbing Topic
In Wall Street.
RUMORS REGARDING AMERICAN TOBACCO
Prices Are Better in the Railway
List.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 21.-Opening prices
this morning reflected advances varying
from Il to n per cent and were well sup
ported on a small volume of business. The
new loan continues to be the absorbing
topic of discussion, further advance In
the price Of the bonds to 11Ska120 adding to
the previously quoted evidence Of their de-
STABILITY.
The feature of the days trading was the
early pressure to sell American Tobacco
en- rumors of important and undesirable
changes in the directory. The appearance
Of e fair-sized selling order in this stock
resulted In free offerings by the room,
which continued until a decline Of per
cent from opening figures had been record
ed At the decline a covering movement.
accompanied by a general denial Of the
early rumors, forced the price back within
1 per cent of initial figures.
The street is extremely skeptical where
this property is concerned, as the result
OF the mysterious rumors Of internal dis
satisfaction which appear periodically and
always to the disadvantage Of values.
Those in position to judge attribute the
erratic action Of the stock during the last
fortnight to professional manipulation
rather than to any radical arrangement OF
the company's affairs. Bay State Gas
was again weak under moderate trading, at
decline OF = per cent.
The meeting of National Lead directors
held this morning continued in session less
than an hour, during which time the ques-
ton of the dividend on the common stock
was not discussed. The meeting adjourned
for the purpose of enabling the directors to
be present at the annual meeting OF stock
holders at which nothing but the usual
routine business is expected to be accom-
plished. The dividend on the common stock
has not been earned and consequently VIII
not be paid, even though the official an
nouncement of this fact is still lacking.
The dividend on the preferred stock for
the year can only be guaranteed by with
holding of the usual disbursement to hold
ers of the common.
Chicago Gas and Sugar were both strong
movement.
In the railroad list prices were all better
at small fractional gains. Manhattan was
strong under a fair demand, gaining 1 IL
per cent from first prices. Western Union
gained 3-S per cent and was well held IN
der a fair demand attributed to the invest
ment account.
Extreme caution is manifest in all parts
of the speculative list, the complexities of
the situation and the narrowness Of the
count within the limits of easy liquidation.
The changed tone Of Washington advices
on the subject Of the pooling bill was not
reflected in prices beyond the limits OF
small fractions.
It is intimated that a movement is on
foot which may successfully bring the
bill to a vote, which is all that the friends
OF the measure desire. There is an equally
strong argument against the probabilities
Of such action. but at the moment it is
probably less generally held.
The trading of the last hour was mod
erately active and irregular, National Lead
being the feature Of this period, at the low
est point of the day.