Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-15
Comment on St. Paurs Decreased
Semi-Annual Dividend
new YORK CENfRALs DEFICIT LARGER
Mysterious Buying Movement in
New England.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. March J5.-The declaration
of 1 per cent dividend on st. Paul COM
mon, announced after the close of yeste--
days business. was regarded as a negative
incentive to strength in speculative circles
this morning. While the rate mentioned
is only one-half of the amount disbursed
for the preceding half-y ear the fact that
1t has been earned and not borrowed is 2
fiatteiing testimonial to good management.
London's prices clearly reflected the latter
view. The discouraging announcement
which accompanies the report of earnings
for the dividend period to the effect that
indications for improvement are as yet too
remote to be tangible is expected to furnish
basis for lower prices later in the season.
The covering OF shorts was. in the main.
responsible for the f1rmness of the stock,
the scarcity Of borrowable certificates and
the approval of the directors action by in
vestment holders being the incentive to q
curtailment Of outstanding obligations.
New York Central was strong on early
trading, gaining "a per cent to 50 IL on a
fair volume of business. The dividend OF
this company was reduced to 1 per cent
for the quarter just ended, as compared
with 1 IA per cent, the previous rate. The
statement for the three months ending
March 81 shows deficit after dividends Of
nearly $6OO.OOO as against a deficit Of less
than half that amount for the same per-
iod In 1884. The sales of the stock made
after the adjournment of the meeting were
recorded as ex-dividend in accordance with
the usual custom of this company. The
room was disposed to sell the stock mod
erately on this announcement, / per cent
loss rewarding the effort.
Rock Islands directors will meet next
week and declare the regular quarterly
dividend at the rate Of 1-2 per cent.
Jersey CentraPs directors will consider
the same subject sometime during the early
part of April, and the market will then be
relieved Of one source of apprehension.
which has been generally recognized as a
deterrent to activity.
Further rumors of important favorable
developments In the anthracite coal trade
caused a sharp covering movement in the
stock Of the last named company, which
terminated with an advance Of / LIZ per
cent.
The buying of New England was by the
same brokers identified with the previous
movements of the present week and result
ed In an advance of 1-2 per cent. There
Is more I'm this movement than Is reflected
by surface operations. as future develop
ments will prove. Meanwhile the mys-
FERROUS advance is destined to proceed con-
siderably beyond today.s best figures.
Realizing sales in Sugar were conspicu-
Gus in the early trading, but later buying
forced the price up over par, at which
point inside selling and the uncovering OF
down 1 per cent to 81. 1t Is believed that
inside interests have taken profits on part
of their holdings, and are now engaged In
fostering the creation Of other large short
interest. American Tobacco was weak ON
a fair volume Of business. the price Yield
ing IA per cent from opening figures.
Speculation during the nnal hour was
moderately active. with prices In major
ity of instances fractlonally below the best
previously recorded for the day.