The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-12

New York. Jan. u.-Directors meetings
We're responsible for considerable varia
tions in the character of the stock spec
ulation today. As is usually the case.
forecasts were rife as to the probable ac-
| ton of the various directories in session,
which were utilized for effect upon the
market value OF the securities interested.
The most important development was the
action of the Louisville * Nashville di-
rectors in replacing the stock in the cate
CORY of dividend payers.
The report submitted for the six months
ending Dec. II. showed total income as
"a, 622, and surplus of S1,426,199, after de-
Quoting fixed charges and sinking fund
reqI> ements. This report prompted the
management 10 declare a dividend of IL
per cent out of the earnings for that pc
riod, which may fOreshadow a regular an
nual disbursement of 8 per cent. The
dividends on this property were suspend
ed in 1893 and a reduction of 10 per cent
was made in the salaries of employees,
with a proviso that they would be re-
stored when earnings warranted it. This
promise was carried out last year, and
the successive favorable character of the
traffic statements published aroused eX-
pectations with the investment public
that the dividends would be soon de-
clared on the stock.
The proceedings of the sugar directors
We're also viewed with interest. as 1T was
intimated thau SsoIne Publicity would be
given of the result of the companyS OPP
erati0ns in the pending trade war. The
stockholders ratification of the action OF
the directors in voting 10 reserve the pro-
fits of the company as working capital
was interpreted by the bears as indicat-
ing a possible abandonment of dividend
payments. The stock was thrown on the
market in large volume and sufiiced to
check the aggressive upward movement
which was in progress on the announce
ment that the senate committee had
agreed to report without amendment the
peace treaty. The market in general pre-
sented other features of striking inter-
est including an outburSt of investment
buying which improved the standard
shares from l to points. The Wander
bilt stocks were usually prominent and
a burst of animation and strength which
lifted Pennsylvania 4A exercised
healthful influence on the entire market.
The pecialtieS, aside from Sugar, moved
in comparatively narrow limits and fig
uIed very moderately in the days total
Early weakness, in which Pittsburg, Gin
cinnati, Chicago and st. Louis made a
sensational break of 6ls. gave the bears
a temporary advantage, but the bulls got
the whip hand in the subsequent deal
ings and closed the market well up to the
best at substantial gains. London opera
lions were considerably reduced on both
sides of the account.
The market for bonds developed a sag
ging tendency where recesslons were not
except in isolated cases. u S.
5s coupon declined "a in the bid price.
The total. sales of stocks today were
a47. 500 shares, including: 32.340 Atchison.
81. 400 Atchison preferred $40 Central
Pacific, 1920 C. & O.. 81 $50 Burlington,
!. $50 Denver & Rio iGrande preferred. $3.50
Great Northern preferred, H. no Illinois
$500 Reading preferred, 1860
Missouri Pacific. 22.7e0 New York Central.
a S75 Northern Pacific. u. 100 Northern Pa
cifc preferred, %. 700 Rock Island, 1880
Union Pacific 121o0 Union Pacific prefer
red. 5000 Southern. Pacific. 1850 Southern
Pacific preferred. o. go Steel, 5000 Steel
preferred. 12,250 Peoples Gas, 1876 Colo
RADIO Fuel & Iron. 1870 Pacific Mail, $3.50
Sugar, 5415 Rubber