Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-03-10
FINANCE AND TRADE
London Bought Moderately During
the Early Hours.
DECLARATION OF DIVIDENDS
Effect of War on the Tobacco
Trust
GENERAL MARKET REPORTS

Special Dispatch TO The Evenins Star
NEW YORK, March 10-A better borrow.
ing demand for the more active stocks, in
dicating the presence of a considerable
short interest was one of the chief charac-
tcr;St:cs of today's stock market. London
bought moderately during the early trad
ing. but, in the main, speculation was con-
fined TO the room.
st. Paul's dividend rate was the subject
of much speculation in certain well-inform-
ed circles, the likelihood of a more SUBJ
stantial increase than was at first con-
sidcred probable Inspiring careful purchases
around a..
The earnings of the company clearly
demonstrate its ability TO establish > per
cent dividend basis. and while per cent
is assured for the half year, there is an
even chance that higher rate will receive
majority vote of the directors At next
Thursdays meeting
burlington advanced mo lerately
under purchases for both accounts, the
| fractional discrepancy between the price of
| this property and St Paul being for the
greater part of the day an favor OF the
| former
The declaration of the regular quarterly
| dividend on Manhattan caused some cover
| ing by traders gain of IL per cent follow
| ing. The probable serious effects of sur
| lac" competition continue 10 perpetadte The
| skcpt.cism as to the permaneIey of the
| present q per cent basis, and any material
advance in price would revive short sales
In the industrial list American Tobacco
was again the feature, a substantial adj
vance being recorded almost entirely at
the expense OF a lar,,e short interest: Evil
dence Of a deliberate plan of procedure On
the part OF the large antitrust interests TO
force the Eghting in the trusts territory
was discovered during the day. and active
stock operations are likely to continue for
| some time to come. The ultimate result
| is open 10 grave doubt, OF course, but eX-
cept in nl2nspuiatiye circles beliefs in
| more than temporary Improvement in the
| value Of the stock are lot numerous
| The action of Sugar WIS regarded with sus-
picIon 10y many, its support and inactivity
coupled with the fact that its large follow
| Ing of weak holders has become repugnant
| TO the manipulative interest, giving rise 30
predictions OF a reaction OF mo lcrate pro-
portions. The better view of the situation
| however, would seem 10 be that. pending
| final action on the Cuban resolutions, the
| present course has been agreed upon, with
| the assurance of a sharp advance on the an
| Eouncement of the passage of the House
resolutions.
Compression al action continues 10 over
Shadow the entire speculative situation,
| but should the result be as satisfactory as
! Is now predicted the developments toward
| the close of the week should produce a
| higher range of values.
The market for foreign exchange was again
described firm, the absence of any s:gnifi-
cant volume of commercial drawings serv-
| ing to keep rates well up to the recent top
level While the exchange situation con-
| tainS no cause for immediate concern, at
| tention is again directed to an undesira BILE
tendency toward increased rates.