Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-08
FINANCE AND TRADE
Lower London Prices Caused Dizziness
in Wall Street Opening.
Few REALIZING SALES NOTED
American Sugar Fell Off On Disap-
pointment in Dividends.
MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September Slower prices
in the London market had a tendency to
restrict buying during the opening hour
this morning. but subsequent trading re-
fiected continued confidence in the local
financial situation.
The operations of the larger interests
demonstrated conclusively the absence Of
any intention to realize extensively on
present holdings.
The stocks selected for the new business
OF today were mainly those in which bust
ness prospects have been revolution.zed,
and In which increased dividends are
probability. In this group may be noted
New York Central, Illinois Central and St
Paul.
The report of the former road for the
month of August reflects an increase of
s456 ,219 by comparison with the same period
one year ago. The total increase since July
l is consequently S62S, ASH
The second property ramed is known to
be making liberal gains over last year, and.
as its statement is likely to appear within
a few hours. the buying during the after
noon was especially confident
The directors of st. Paul will determine
the dividend question at tomorrows meet
ing, and if today's buying is not misleading
the rate will be advanced There is, how
ever, nothing definite on this point. The
entire Granger list was given good sup
port around the best prices of the present
movement.
The Atchison directors at their meeting
today declared interest on the adjustment
bonds for the period ending June 30 at the
rate OF per cent. In consequence of this
action all the securities of the company
were in better demand. This road is max
ing rapid strides in earnings, and an en-
trely new range of prices are likely to be
recorded for its several stock issues.
The failure to declare more than the
regular dividend on sugar common re-
suited in the selling of some disappointed
holdings, but there was no general licui-
dation In the property. The price was de-
pressed from 1861 to 153 on the announce
ment of the directors action, hut the
strength OF the general market forced a
sharp recovery from this low level.
The entire Industrial lis. was active, but
at times somewhat irregular
The buying Of high-priced investment
Issues is still a feature OF The present Sc
cnrity movement. Consolidated Gas and
Pullman IN this market and Rell Telephone
up to $40 per share in Boston. may be
noted among the conspicuous features of
this buying.
There continues to be every Indication of
confidence in the endurance of the return
Ing prosperity and ordinary advances nc
longer attract selling. The room trader is
not a significant factor at the moment. the
con- rol of prices having gone bodily over
to the largest financial interests in the com.
munity
Reactions are likely from time to time
put there Is nothing at present threatening
IN this particular. A decline of or 3 per
cent would make prices look cheap again.
and new buying would in all likelihood
spring up promptly. So long as earnings
continue on their present scale of increases
new buyers will be found upon every con-
cession.