Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-17
Passing Of the B. & 0. Semi-Annual
Dividends.
IT Was ONLY 4 PARTIAL SURPRISE
A Decrease Of Nearly Half a Million
in Net Earnings.
GENERAL MARKET REPORTS
Special DISPATCH to The Evening Star

Special Dispatch to The Evening Star.
NEW YORK, April Has the result Of
Slightly lower prices in London, due to the
reactionary tendency which marked yes
terdays final trading in the local market,
opening prices this morning were some
what irregular, but in the main steady.
The passing of Baltimore and Ohio's semi
annual dividend was the feature of the
days developments This action was only
| a partial surprise, as the affairs of the
company have long been known to justify
the action taken today, but there was
some doubt as to the action being based on
actual conditions. Originally the board
was far from being unit on this subject,
but it is encouraging to note that the most
enduring argument has finally triumphed.
The future of the property has been con-
! sidered instead of making a temporary dis
play of prosperity by paying unearned
dividends on which the company itself
would have probably had to pay liberal in
terest.
The figures submitted show decrease of
| nearly $5OO.OOO in net earnings between
July l, 1884. and March 81. 1895.
The expensive construction Of the new
Baltimore tunnel and unremunerat1ve pur-
! chases of collateral lines, coupled with the
general business depression throughout the
company's territory, are responsible for the
company's depleted finances.
IL was CoHSiueTeu pFObdDie ludl d L pei
cent dividend would be declared as COM
promise measure, but even this was finally
conceded to be unwarranted.
The coal stocks were conSpicuously strong
throughout the morning on a revival OF
| interest in the adjustment of existing trade
differences. Jersey Central was marked up
l 81 per cent on fair volume of business,
and Reading gained l per cent on pur-
chases by brokers prominent in every buy
ing movement Of recent date. Manhattan
was in good demand up to 115 81, gain
of l 3-4 per cent from first prices. The
Changers were steady. but made no signifi-
cant gains The street Is Enthusiastically OPP
posed to short selling. purchases on all
! concessions being regarded the more
profitable policy. The securities of the
| Southern railroad, while not prominently
| identified with the days activity, are con-
sidered by competent judges to be directly
in the line of Improvement.
Among the specia1ties Tennessee Coal and
Iron was the feature at an advance of IA
ly on merit.
Sugar was in good demand up to 1O5 3-S.
| and was given excellent support by those
| in charge of the present movement.
The continued strength of Manhattan
| was the feature of the last hours trading,
the price during this period being marked
up to lit on good buying. Rumors of
scheme looking to the funding of Lake
Shores per cent bonds and an issue of a
similar obligation with 2 per cent saving
in the interest account explain, in some
measure. the recent sharp advance in that
property.
An extra dividend of substantial proper
probabilities applying to this stock but I'M
til some disposition of the high rate bonds
| is made the dividend is not likely to be Sc
| riously considered.