New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-09
BONDS.
TUT DAYS OPERATIONS IN STOCKS.

,,.,a,,s Of 81. Paul stock were disappointed
...,srsay in not receiving an Increased or eA-
-, a,,idend announcement from the directors.
.,o declared n regular 2i2 per cent sein'-ah''uai
cement. Spectators sold st. Paul 'reeiy OH
.,s result OF the directors meeting bears De-
.,,A aggressive throughout the list ana the
rbols market suffered sharp declines. Earlier
q, the day prices were strong. In fac'' the
market loked as II a good buying power were
aeveIoping. commission houses orders oeihg
heavier while purchases from substantial IN
.erests we're reported in various issues bu' 'he
failure OF the ST. Paul directors 10 increase 'he
dividend caused a sudden change IN sentiment
and prices Doubtless sentiment ana prices VIII
recover from the shock in a DAY or So OUT III
the last half hour Of trading yesterday uheAsi-
noes was acute. Despite tie fact that con-
sentative opinion did not favor hgheF oi'l-
dend for ST. Paul At present While the chances
appcared 10 be against an increase STOCK mar
ket traders decided early In the day that the
rate would be raised TO per cent. ana as con-
,eouence, bought ST Paul heavily
Disappointed traders were so upset over ths
action OF the directors that they felt certain
an increase had not been made for specu-
latlve reasons OF course, such opinion counts
for little. and only arises from detected conol-
.,on o. mind as the result OF losses mace ny
betting on stock market uncertainty. 81 fauI
earned per cent In It's last fiscal year and II u
maintains its current record II Will earn 10 per
cent in the present year. The directors or the
COMPANY are able fnancers and high MINDED
man. and they doubtless had good and su1icient
reasons FOR not making larger Distribution 10
the shareholders al present 81. Paul Will make
better returns to It's owners at no late period
ST Paul and Burlington are among the most at
tract!ye Investments on the market, paying D
and 6per cent respectively. and both earning
more The Granger roads, owing 70 the rapid
Development and extension Of trade in the West
are no longer crop roads alone. Their tonnage
is becoming more diversified every year. and
their methods OF operation are splendid ex-
amples os railroad intelligence. conservatism and
able fnanciering. St Paul. Burlington. North
west and Rock Island have made wonderful
strides forward In the las: few years, while the
lesser Western roads. such as Chicago Great
Western. promise proportionately satisfactory
results Considering the mileage 81 the last
named company. its earnings make a most
favora Die showing with the larger companies.
and il viii not be long before its merits will
become more fully appreciated in the stock mar
ket The companys preferred a stock is 10 be
placed in the dividend column on January !, and
holders Of the common stock expect price
above 20 for their possessions before the year
is over
ST. Paul sold as high as 10 about ! O'Clock,
and after the dividend announcement FELL 10
1l0.. The whole list after recovering losses
made on Wednesday. declined in sympathy With
ST. Paul the more active stocks losing per cent
from their best prices. and above in some cases.
The industrials also tumbled. Bear operators
were very active. The short interest was
largely Increased. weak accounts were closed
out. and technical conditions were materially
Strengthened and made more inviting for a
speedy resumption OF the upward movement.
Fractional recoveries were made from the lowest
prices. but the close was unsettled and heavy.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.-sales. 1922 900 3s
twhen issued, az 1059105z. Final quotations
follow.