Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-11
Another Bond Issue Discussed in
Wall Street.
TALK OF ST. PAUL'S DIVIDEND
The Speculative Public inclined to
Hold Off.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. September 11.-Speculation
was hampered this morning by continued
doubt on the subject of the bond syndi-
Gates obligation to maintain the gold re-
serve, and the delay in making good the
amount recently withdrawn for shipment.
There are constantly multiplying indica-
tons that the syndicate Is endeavoring to
cevtse some plan whereby the treasury will
be enabled to keep intact the 500. 600, 600
reserve fund without depicting the rapidly
decreasing gold supply of the bond syndi-
cate. The method by which this result is
sought Is as yet unknown to the street, but
a small bond issue is at the moment given
the preference over all other rumors.
The result of this condition is manifest
liberal sales of long stock on every rally.
The low prices for the cereals in the Chi
cego markets are responsible for Falling
Off in grain tonnage on the western roads.
and the value of the Granger shares con-
tinue to be depressed.
rumor was circulated during the after
noon to the effect that, owing to the yacht
race tomorrow, the directors Of st. Paul
would meet at late hour today to declare
dividends on the stocks Of that company.
It Is said that while at least one per cent
Is assured on the common stock, there is
some disposition to double this rate. in
view of recent increased earnings. The
price Of the stock was not Influenced ma
terfaily by such reports. decline OF one
per cent being reflected at the time OF their
publication.
Rock Island and Missouri Pacific each
yielded to active sales for substantial de-
clines from first prices.
The speculative public is disposed to hold
OFF until the several uncertain features Of
the present situation are disposed of. and
professional supremacy again threatens the
street. 1t is not thought that the period of
doubt will be prolonged, however. and its
termination will result In a resumption Of
the upward movement
Tennessee Coal and Iron sold down per
cent on realizing sales. usually in small
interests identified with all of its recent
movements. Sugar was fairly active under
buying, in which both accounts were rep
resented. gain of 3-S per cent resulting
ports are in the main satisfactory, but the
street is divided On the wisdom of an ad-
vance at this season.
In majority Of instances the lowest
prices of the day were those recorded dur
Ing the last hour Of business. The sales
during this period were credited to the
accounts CT several large operators, whose
transactions On the short side of the market
In recent years have made them recognized
leaders of bear campaigns.
The substantial advance in the more
meritorious issue during the summer and
the growing doubt as to the success Of its
continuation without a moderate reaction
greatly facilitates the efforts of this pes
s.mfst.c contingent
The deposit of any considerable amount
OF gold by the syndicate would cause a
sharp rally In prices, and In some quarters
the action Is confidently relied upon, but
the delay in taking this step is taken as
positive indication that gold from this
source will soon be withheld With bust
ness conditions continuing TO improve,
however. the low prices now recorded viii
sc61 er or later afford an excellent basis
Nnn ftryAI
count.
The syndicate deposited $4,000 600 in gold.