The times., 1898-09-08
THE STOCK MARKET.
Full Annual Interest Declared on
Atchison Bonds.

New York, Sept. The chief feature
Of the days money market situation was
quite general shifting OF loans following
the calling in of loans by several large
lenders. Notwithstanding this circum-
stance, there was little actual change in
rates. and borrowers found small difficult
ty in obtaining accommodation in the
open market, still the shifting and con-
sequent replacement of loans had the
effect upon speculative sentiment that
might have been expected when apprehen-
sions of money market stringency stand
as the chief influence of the situation.
According to Washington advices
there remains to be paid into the Treas
ury against the war loan about S370OO,
O4O Offsetting this sum there are the
Treasury's payments in anticipation of
the October interest on the four per cent
loan and the redemption of the currency
SKIES and the two disbursements amount
ing to about 500 600 .O00 and, as concerns
the general money market the gold
which may be received at both coasts in
the next few days
Sterling exchange was again heavy to-
London showed small offerings. Lazard
Freres reported the purchase of about
$4,000 pounds, the only engagement an
nounced further decline of Sic in
sterling exchange would probably be fol-
lowed by withdrawals from the Bank of
England.
Aside from the money market there
were few features of the days situation
of general Importance. On the other
hand there were a number of circum-
stances bearing on particular securities.
The recent favorable anticipations in
regard to the action of the Atchison di-
rectors were realized today when the full
annual interest of 4 per cent was de-
clared upon the adjustment bonds. The
Sugar Refining Company declared the
regular dividends upon both classes of
the stock, thus disposing of some late
rumors in this respect, which will now
be doubtless turned toward the Decem-
Der dividend. The Peoples Gas Company
won a decisive victory in the decision of
Judge Dunn at Chicago in the Living
ston suit.
A number of important statements of
railway earnings were reported, the best
showings being by the Southern Railway,
Transit Company. These particular cir
cumstances carried little weight today
even with the securities directly con-
| cerned. Sugar Refining broke badly, prob
| ably on the belief that the growing COM
| petition of the Independent refineries
would render impossible the maintenance
| of dividends at the rate declared today.
| Peoples Gas gave only a short-lived re-
| Election of the legal victory referred to.
! Atchison adjustments, after slight
| morning advance, participated in the COM
| mon afternoon decline.
The general market was unsettled. The
| money market conditions were the chief
| influence to this end, while the nisgiv-
! ings that the most sanguine expectations
| in regard to the St. Pauls dividend to-
| morrow would be realized were effective
| in the same way.
| The market was only moderately active
! and the room traders showed more ag-
| gressiyeness in hammering stocks than
| for long time. There did not appear to
be much actual outside liquidation. For
! eign houses were again fairly large buy