New-York tribune., 1896-05-25

and in addition 81 per cent In extra dividands
II nar ye cn,t per cent IN regular dividends and
=. per cent IN extra dividends have been pail
II is reported that the Trust has 15 per cent
sun 10 distribute in extra dividends
Despite gold shipments and duness in the
nldrhet, ma STOCKS were strong the greater part Of
the week and on the last two days deyeoped
considerable activity and made substantial net
saihs. ihere was absolutely no pressure to sell
at any time. While transactions for the greater
part OF the week were wholly professional the
trading yesterday reflected support from prom-
ne nent interests, and falling off in the business
N the lndustrials. with a wider distribution
among the railway shares. Until yesterday the
chlef interest was centred In Sugar Refining
speculation the sales in this stock contributing
Tor the week 2GI,S9O shares OF total In all
shares of I23, f32. This 'ekyrocket" specially
again emerged from comparative dulness and
nonopoiized the bulk Of trading, the inside ma
nipulators tossing II about best suited their
fancies and pocketbooks. further reduction
IN the price OF the refined product the small
crop in Cuba and other trade factors were not
responsible for the activity in it, for it advanced
on bad reports and declined on good. showing
Its utter disregard for trade conditions when in
the hands Of its clever manipulators. Weak
ness IN the market for raw sugar was probably
due to overspeculation on the foreign exchanges,
the result being extensive liquidation abroad.
This speculation abroad was helped by the war
in Cuba. as it believed that the reduction
in tie Cuban output would make necessary a
heavy movement from European sources to the
United States; but the American refiners for a
long time have been securing sugar in other
countries than Europe and so the European
Room has collapsed, prices falling TO point
which later on will probably be taken advan-
tage Of by American refiners Last week two
heavy sugar importations were received in Phila-
delphia from the Upper Nile country being the
first sugar ever brought here from that part of
Egypt United States Leather stock was com
paratvely inactive during the week. but rumors
were busy indicating better trade outlook for
the company. In the swamp conservative men
look for higher prices within short time ana
the recent heavy purchases Of hides by the
United States Leather Company would indicate
IN
in a leather boom before long. Too rosy view
should not be taken of the leather outlook, how
ever nor Of the Leather Trusts position. for II
may be remembered that last years boom left
the company with enormous stocks OF unsoid
leather, and an extremely poor hnancial showing;
1t was stated in the week that the company had
paid off the 30O0000 floating debt as it had
matured and that ii had on hand enough money
to pay = per cent dividend In boston , tner5
has been O good absorption of the preierreu
stock on the belief that the company VIII soon De
able to resume dividends
Incidents Of the week of interest TO investors
in railway securities included among others the
decision against the Rapid Transit Commission.
the applica ton for receivers certihtates d! 'he
Baltimore and Ohio receivers. ana tEe eNpid-
tion of the time limit for deposits OF keadln@
securities under the reorganization plan Jncer
the terms of the decree of foreclosure tne llh"
allowed the company To pay the delauileu NJ
terest upon the general mortgage bonds expired
Friday and II is likely that the trustees under
the mortgage will proceed at once 10 auNeruHe
the nroperty for sale The managers Of the re-
organization. j. p. Morgan e Co. of New ork.
and the Philadelphia and London houses OF tnlS
firm will in all probability buy in the proper.E.
In July the Reading company WIZ De IN ueiau,e y.
Of interest upon the general mortgage Donds 20
the extent of S6300.0OD. Regarding me apIli-
cation for receivers certificates In the Balu-
more and Ohio case. the authority to issue theh
to the amount of 81 OO00 600 was given on FRIDAY,
and also authority to issue S3,400ooo car trust
certificates for the purpose or meeting opiisa-
lions incurred by the purchase OF new roihhs
stock. Baltimore and Ohio stock has shown
some improvement recently. and traders pc
lieve that the report of Mr.. Little upon the
finances OF the property VIII make pt,-
fer showing than expected. Certain reports
and alleged summaries Of Mr. Littles port
have been circulated in the Street but no reH-
ance can be placed upon them, FOR IL Is eA-
trer1ely improbable that an expert accouh,ant
would give out the result OF his investigation
before il had been officially presented To tnOse
who had employed him for the work IN"
slow movement of corn TO market may nave
=, prevented any marked advance by the corn
carving roads but the general lack OF ou'si'."
interest in the market was the more prooapI1
cause. The earnings OF the western roauS VIZ
good and as far as their stock market POSITION
was concerned. there was strength whlch pear
attacks and silly fears could not weaken Lon
don only took passing interest IN the s'prN
market while Germany and France Kept them
selves in evid ance by taking away more OF our
gold The operations were not legitimate ex-
change operations. and We're Ike those OF the
preceding week to repenish the stocks OF Euro
pean banks chiefly the Imperial Bank or Ger
many The merchandise export trade In Aprii
and so far this month is too nuch IN TINS couI-
trys favor TO call for any gold exports TOT me-
chandise balance settlement, but travellers
credits and interest payments are FACTORS on
setting the trade balance. on the other hand'
sales Of American securities abroad should ini-
nish a coed amount Of exchange. and OF the re-
cent sales very little exchange has been drawn
against them. -. -,
the chief active stocks and bonds in the week
STOCKS.
90 -. 80 -. .,t,s