The age-herald., 1899-06-08
SUMMER EFFECTS
 STOCK MARKET But the Street lis Not So Very
 Dead.
ACTION ON SUGAR DIVIDEND
Held the Professional Traders Back Steel Stocks Hung Back on Forth coming Dividend Railroad
 Stocks Resisted Decline

New York, June IA midsummer lassi- tude hung over the stock market through the greater part of the day and the trad ing drifted aimlessly in the doldrumes. Capital is not deterred from manifesting itself, and it's ever watchful eye seldom closes, no matter what weather conditions exist.
 The market indicated that Wall street was not so dead as the earlier appear ances would give reason to suppose. Spec ulation was almost at a standstill during the morning session, even the professional traders waiting for action on the sugar dividend and also on that of Atehison pre- ferred. The aimless drifting of sugar cer- tif1cates prior to the announcement offthe dividend and the smallness of the trans actions seemed to indicate that the specu- lative community was wholly at sea as to what the action of the directors would be- The price dropped below last night after the opening advance, but recovered sharp ly some three points before the news be- came known. The announcement of the regular dividend caused realizing sales, and a decrease of 2 points. The shorts were so eager to cover that the decline was checked almost immediately and a subsequent recovery amounted to about points. The drop after the dividend an- nouncement seemed, to give the shorts some degree of confidence, and the press- ure to buy was not urgent at the advance. Considering the length of the bear cam paign based on an implied doubt of the regular dividend, it can scarcely be said that the short interest has succeeded in anywhere near covering the lines put out during the campaign. The declaration of hn V VfxTfx1 verted all of the bears who still argue dire effects from the trade war. The declara- ton of 4 per cent on Atchison preferred as the most potent influence in putting up prices in the latter part of the day, though the effect must be regarded as surprising 1y small considering the recent activity of the bears on the doubts they expressed that dividend would be forthcoming of this sort. The dividend is regular semi annual and comes out of the earnings for the last fiscal year with the statement by the directors that sufficient remains for another similar dividend in January next.
 There was large demand for the Gran gers, which advanced prices In the group from one to three and one-half points, which spread to other points in the rail- road list Fort Worth also was marked up four points and the New York municipal stocks rose sharply. Stocks which have been recent favorites in London, such as Anaconda and the Southern railroad stocks, hung back under the influence of depression in London on account of the unconciliatory attitude Steel stocks also hung back, Steel and Wire dropping at one time three points on published debts of a forthcoming dividend. The obstinate rests tance of the railroad stocks to the decline, the present and prospective easy conditions in money and the more cheerful view of the crop prospects all contributed to lLe late strength in the stock market.
 Railroad bonds hardened in price in sym pathy with stocks but business was not on a large scale. Total sales par value, 900. United States 3s declined one eighth in the bid price.
 The total sales of stocks today were 5S5 1926 shares, including: American Sugar, 74,9O0; Anaconda, HOO; Atchison, preferred, 1s.10O; Brooklyn Rapid Transit, lo,2J0
 Burlington. 22.100 Federal Steel 15,9OO; Louisville and Nashville, 4 200; Rock Island, 93o0; St. Paul, Il, 400; Tennessee Coal and 1ron 9,400
 Money on call steady at 2Gl2h per cent. last loan, per cent. Prime mercantile pa- per, 3A@4 per cent. Sterling exchange quiet and steady with an actual business in bankers bills at $4.SS for demand and $4.S5l2Q4.S6 for sixty days; posted rates, $l.61s, $lS7 S4S9. Commercial bills, $4S51a; silver certifcate tes 61@62c. Bar silver GOA Mexican dollars, 4SAc.
 Government bonds were weak.
 State bonds irregular.
 Railroad bonds firm.
 off to tba