Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-25
Effect of the Drop in Canadian Pa
eifc.
DECREASE IN THE ROADS EARNINGS
Opening Prices Below Saturdays
Closing Figures.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 25.-The passing
of the regular quarterly dividend on Cana
dian Pacific and the sensational decline of
IL per cent which followed in the Lon
den market, coupled with the defeat of the
pooling bill in the Senate, had a decidedly
adverse influence on stock values this
morning. Advices from London received
prior to the opening on this side reflected
lower range of values for all American
securities in consequence Of the action
mentioned above, and all arbitrage bust
ness was suspended for fear of whole
sale selling movement in the local market
AS compared with Saturdays closing fig
ures, prices at the opening represented de-
clines varying from Is to 3-4 per cent, but,
except in a few instances, the pessimistic
predictions at the opening were only par
TALLY fulfilled.
The selling Of Canadian Pacific in the
foreign market, referred to in this column
several weeks ago, was based on advance
information that the earnings of the COM
pany would fall far short of the limit war
ranting disbursement to stockholders
The impoverished condition Of the territory
through which this road runs and the
strong, competition of parallel lines have
attracted the attention of many far-sighted
the company's ability to do q profitable
business. The attention Of the financial
world was directed to this property more
than two years ago, and the retrograde
movement, which was then apparent, has
steadily gravitated in the direction of Sat
urday's climax. The sentiment Of the best
informed continues extremely bearish on
the property.
The decrease in Northwest earnings an
nounced on Saturday, which added to pre-
vious reports makes very unpromising
showing for the past six months, and the
relation Of these decreases to the question
of dividends, caused some selling of the
common stock of that company, which de-
tracted IA per cent from first prices. The
date for acting On the dividend on the pre-
ferred stock is now near at hand, and some
idea can then be had of the probable re-
suit of the directors intentions relative to
the dividend on the common. The feeling at
the present time is inclined to be beartsh
on the outcome.
The question of dividends is one that
will occupy very prominent place in
speculative discussions for the next few
weeks, as several more or less doubtful
properties will be weighed in the balance
during that time.
In the industrial list Chicago Gas was
the feature, selling down 1 81 per cent
On rumors that the situation relative 10
the assuming of control by the new man
agement was again complicated.
Sugar was weak on selling by the room,
the usual rumors relative to dividends and
DelES 10 a
growing impression among traders that
any activity in this property will be in
the direction of lower prices.
The market for foreign exchange orened
firm with rates slightly in advance OF those
prevailing last week. The receipts of bills
continue small, and a good demand is re-
ported from remitters.
The volume of business during the clos
ing hour fell off considerably from that
noticed at midday. and prices became ir-
regular under traders operations.