Evening star., 1898-10-05
Stock Market Was Irregular and il
Professional Hands.
lNOUSfRlALS WERE NEGLECTED
Attention Now Turning Towarc
Dividend Earning Properties.
GENERAL MARKET REPORT

special Dispatch 90 The Evening Star
NEW YORK, October 5-Today's stock
market was irregular and to a considerable
uesree professional London traded both
ways, but purchases slightly exceeded sales.
The Industrial department gives some eyt-
uehce OF having become monotonous as a
dominant speculative influence. and at,en-
tlon Is turning to the merrorious issues in
'he general list. Earnings are coming 10
the front as the real incentive to the de-
mand and there is little apprehension that
such Influences will diminish materially.
Union Pacific reports for the six months
ehding June 70 a surplus after charges. Of
sl''1.6s5. The stock was scarcely influ-
enced bv the announcement although some
rather significant buying has been noted
for several days
metropolitan Traction was worked up
sharply under the influence of reports
showing a large daily increase in earnings.
Atchison preferred was taken in round
amounts on rumors OF an initial dividend
In January. series OF such showings as
have characterized this weeks develop
ments should have produced even more
substantial results than those now re-
fiected
The room element. acting under mem
or1es of last weeks decline in Tobarco is
largely committed to lower prices re-
drction in the price of refined sugars anc
continued significant selling of the stock
OF that company helps to keen alive the
belief in lower prices.
Sugar and Tobacco may however, be
allowed to go their respective ways with
out forcing the general list into more than
momeatarv decline.
American 81 gar is in for a serious trade
| conflict as the active buying Of the raw
product 10y the new Independent rehnerIes
clearly proves.
Twelve per cent dividends on the com
mon stock may shortly become interesting
history merely. but, as in all fights "f this
character, day of a combination for
mutual protection is inevitable
This day for such a monopoly as the
American Sugar Company has been Will
not be recognized " nt!e its adversaries con-
true business and the surplus of th4 lass
few years is available. An early COM
promise is consequently not looked for and
mary very low figures are quoted as the
maximum level of the decline /. is idle
10 predict prices for stocks under any con-
Giuons but If purchases are to be delayed
because sugar may decline. the demand for
stocks on a large scale must wait.
The belief in the 2blity of one or two
stocks TO control all is decreasing and those
interests noted yesterday among the larger
buyers were again active today.
Peoples Gas held its own very well The
Granger shares found support. and con-
cessions only increased the volume of the
demand. Many would prefer to have the
elections out Of the way, not from a fear
OF the actual. but OF the predicted result.
The regular Monday meetings of the
Supreme Court will cause nervousness in
some quarters in which . decision on the
Joint Traffic Association case is feared
Outside of the board room. however, con-
ditions are encouraging, and only an acci-
dent can destroy confidence in an era of
prosperity. The market may be a conflict
ing one for few weeks. but once the pro-
fessional side Of 1t is eliminated as a factor
the worst OF its drawbacks will have been
overcome.