The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-08
WAITED N DIVIDENDS
Sugar and Atchison the In
f1uenceS on Wall Street.
RELIEF UPON THE RESULT
Large Demand for Changers
and Prices Advance.

| New York, June IA midsummer Iassi-
tude hung over the stock market through
out the greater part of the day and the
trading drifted aimlessly in the dol
| drums. Wall street will take advantage
Of hot day TO curtail its labors when
there Is that doubt about the outlook
which composes what is called wait
| ing market. But the hot weather does
not deter the eyer-watchfuI eye OF capt.
| tai from awaiting itself OF offered oppor-
tnnities- The burst OF animation in the
| last hour Of today's stock market indi-
| Gated that Wal street was not so dead
I as all the earlier appearances give reason
/ 10 suppose. Speculation was almost at a
| standstill during the morning sessl on.
even the professional traders waiting for
| action no the Sugar dividend and also on
| that OF Atchison preferred The aimless
| drifting Of Sugar certificates prior 20 the
| announcement Of the dividend and the
smallness Of the transactions, seemed to
indicate that the speculative community
was wholly al sea as TO what the action
of the directors would be. The price drop
ped below last night after the opening
| advance, but recovered SHARPLY some
three points before the news became
known. The announcement OF the regI-
lar dividend caused realizing sales and
drop OF points. The shorts were so
eager to cover that the decline was check
ed almost Immediately and a subsequent
recovery amounted TO about points. The
drop after the dividend announcement
- civ - -T,-
confidence and the pressure 10 buy was
not urgent at advance. Considering the
length OF the bear campaign based on
an implied doubt of the regular dividend.
it can scarcely be that the short interest
has succeeded in anywhere near covering
the lines put out during the campaign.
The declaration OF the regular dividend
has by no means converted all Of the
bears. who still argue dire effects from
the trade war The declaration OF l IL
per cent on AtchisOn preferred was the
most potent influence IN putting up prices
in the latter part Of the day, though the
effect must be regarded as surprisingly
small considering the recent activity OF
the bears on the doubts they expressed
that q dividend would be forthcoming on
this stock. The dividend IS called regu-
lar semi-annual and comes out of the
earnings for the last fiscal year with the
statementby the directors that sufficient
remains for another similar dividend in
January next. There was large de-
mand for the grangers which advanced
in prices in the group from 10 - points
which spread to other points in the rail-
road list. Fort Worth and Rio Grande
was marked up 4 points and the New
York municipal stocks rose sharply
Stocks which have been recently favor
ties in London. such as Ana cOnda and the
Southern railroad stocks. hung back I'M
der the influence Of depression in Lon
don on account Of the uncOnCiIiatory at
titude Of President Kruger The iron and
steel stocks also hung back steel and
wire dropping az one time points on
published doubts OF a forthcoming divi-
dend. The obstinate resistance OF rail
road stocks to the decline. the present and
prospective easy conditions in money and
the more cheerful view Of the crop pros {
poets all contributed TO the latent strength
in the stock market
Total sales Of stocks today were rs /
4s2 shares. including. American Steel .
400: American Sugar. 74pn0. Anaconda /
1000: Atchis5n preferred, 1910: Burllng-
ton, 22,loo: Continental Tobacco. $50, .
Federal Steel 150c1: Federal Steel pre-
ferre3 $50: Manhattan. $50: Metrop0li- T
tan Street Railway. 800. Missouri Pa /
eifc 400. New York Central. 800: .
Northern Pacific. 1870.
The leading stocks closed q g follows.