Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-06
Reports Of Decreased Earnings De-
press Prices.
A SHARP DECLINE IN B AND O. STOCK
Statement Of the companyis Con-
dition to Be Issued.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, March 0+Speculative sem
timent was about equally divided between
Improvement and depression at the OPEN
ing OF the stock market this morning as
was attested by an equal divergence of
prices, In opposite directions. from the
level established at the close of yesterdays
business. The professional element was re-
sponsible for the bulk Of the days trans
actions. the covering of oversold stocks
resulting in advances. while new selling
elsewhere forced prices below initial quo
tations.
Decreased earnings and the natural de-
auctions therefrom relative to dividends
were the chief factors operating against
values. Liberal sales for prominent bear
operator. in the Granger group. particu-
larly st. Paul, forced II per cent reduc-
ton early in the day. but the suspension
of the selling movement brought out suffi-
cient support to restore the greater part
Of this loss. Burlington profited to the ex-
tent of u per cent on the covering of out
standing contracts. Nashville was sold by
traders in sympathy with the preponder-
ance of prevailing argument.
Attention was directed in this column on
Saturday to the financial condition of Bal
timore and Ohio and prediction ventured
that any activity in livestock of this COM
pany would force concessions In value. The
correctness of this view was demonstrated
this morning by a sharp decline of per
cent on a volume of business totally made
Quate, of itself. to force more than frac-
tional depression. Within a day or two a
carefully compiled statement of the COM
pany's business condition will be announced
to the public; in the meantime those IA
miliar with the text of this article are put
ting out liberal lines of short stock The
earnings of the road are said to be such as
will force a total abandonment of dividend
payments. The street has long been sus-
picious that such developments as are now
pending would appear as a powerful ad-
verse influence on the market price of the
stock and evidence is not lacking that the
delay will now be brief.
Among the reports of earnings announced
this morning the following attracted the
attention of the trading element: New
York Central for the month of February
decreased $37, FOB, Missouri Pacific for the
fourth week decreased $4,000. and the
Southern railroad for the same period de-
creased $4,000.
In the Industrial list Sugar was the fea-
ture, holding steady throughout the morn
ing on rumors that the regular dividend
would be declared today. and yielding later
on the announcement that the directors
on good authority that the present II per
cent dividend rate will either be reduced
1-3, or the payment be made from the sur
plus of the company. AS an per cent in
vestment the stock at present price is not
as high as such dividend rate would le-
ultimately warrant, but as the reduction
would be made for purposes of manipula-
would probably follow any reduction OF
the annual disbursement. Chicago Gas
sold up on thS sudden uncovering of stop
orders around Il.