The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-06-14
STEELS ARE HEAVY.
Federal Proved Lead
er of the Bull
Market.
SUGAR DROPPED 4 ~ POINTS.
Other Specialties Soften
FractionallY-
Notes.
SUGAR DROPPED 4 II POINTS.

Stock market trading had a softening
tendency yesterday.
The market was somewhat irregular
in Wall street during the morning,
yielding after noon, when Sugar came
down Az, other specialties fluctuating
to much less extent. The local, or
traction, stocks, including Manhattan,
continue firm on a good-sized short in
terest, and traders are more inclined
towards industrials generally. The
Manhattan Company declared its reg
ular quarterly dividend of one per cent,
payable July l, and the usual IA per
cent quarterly payment is recommended
by the Western Union executive COM
mittee. Manipulation in the iron and
steel shares caused them to advance
rapidly in the first hour Smelling i'm
proving 81 and the remainder one and
two points. Sugar, Transit and Met
ropolitan were also in demand at first,
the latter rising four points. Liquida-
ton in Consolidated Gas drove it down
five points and realization began in the
general list, which extinguished near
ly all of the previous gains. CONSOLE
dated Gas recovered most of its loss,
and there was a brisk inquiry for the
low-priced railroad stocks. National
Steel, American Hoop and American
Smelling, which are not usually very
active, were the leaders, the former
gaining five points. Sugar, which was
dealt in eX-dividend, sold down to 1912
in the afternoon and brought the gen
eral advance to a Standstill. The mar
ket hesitated and then sold off on an
active realizing movement, the active
stocks between one and two points.
Support was forthcoming at the decline.
In the Boston market activity CEN
tered in Sugar, Federal Steel, Dominion
Coal and Arnold Mining, some $500
shares of the latter selling in the morn
ing. price rising from 1875 to IN, with
reaction to 1855. Dominion Coal was
raided and there was every sign of a
determined effort to depress it, orders
to sell being distributed among various
brokers. One trader bid one-half of
one per cent to put 1000 shares at 50
for thirty days. Some long stock came
out on the drop, which carried the price
from IS to 55l4, with rally to Sc. Boston
traded freely in Sugar and Federal
Steel, and apart from Arnold, ignored
the copper stocks almost entirely. There
is a general inquiry on the street as to
what is the matter with the coppers.
There are spasmodic advances now and
then, with quick relapse into almost
complete stagnatiOn Yesterday only
one quotation was made on Old Domin-
ion, and that was one more than nu-
merous others recorded. Zinc was fair
ly active, at 431a, and Trimountain held
firm, touching ia, with Parrot up 4,
at 80, but the others were neglected
United States Oil hardened r. to 47L A;
the regular quarterly dividend of
so cents per share and an extra divi-
dend Of the same amount, or 81 per
share in all, are declared, payable July
/. The Mergenthaler Linotype Com
pany also declared its regular quarter
ly dividend, 21a per cent, and an extra
of 21a per cent, payable June 30. The
American Zinc, Lead and Smelling
Company declared its first dividend, 81
per share, payable July l.
The following quotations were made on
the Boston excha nge yesterday on stocks
held in Worcester and vicinity:
CONTp 4 Mtg