Evening star., 1899-03-11
Dull and ListlesS Market for Stocks
at New York.
DISAPPOINTMENT over DIVIDENDS
Southern Shares Were in Good
Demand and Advanced.
GENERAL MARKET REPORTS
Special Disa,ch to The Evening star.

speciai DiShtch 10 The Evening Star
NEW YORK, March H.--London prices
came a little stronger for Americans this
morning on account OF the easier tone of
the New York money market, which
created favorable impression in financial
circles here and on the continent Dis
counts in consequence are working easier
The better feeling is heightened. too. by the
rapidly clarifying political situation.
The New York stock market at the OPEN
ing showed only a narrow trading ten
dency. Bearish sentiment still dweIt on the
failure to increase the dividends on Chi
cago, Milwaukee and 81. Paul and the
Union Pacific preferred stocks, and 50 up-
on the apprehension Of higher money rates.
London did not appear to be a factor
in our market, and, in fact. speculation
among the room traders may be said to
have been almost wholly devoid of feature.
The Union Pacific stocks and the GIan-
gers were practically lower, while Texas
Pacific showed little more strength.
American Spirits ISSUES were somewhat
higher. There was little selling pressure.
but traders who did anything at all were
inclined 20 work for reaction.
In government bonds the new As were u
per cent lower.
After the first hour which as before
stated, was DUH and irregular Southern
railway common and preferred stock
showed some strength, rallying y per cent
each on buying, stated to have come from
good sources.
Union Pacific stocks were also well taken
at the decline. but the chief trading was in
the specalties.
a special from Boston during the fore
noon announced that the governing COM
mittee of that city's stock exchange had
dropped Bay State Gas co. Of Delaware
ftom the unlisted department and that
trading in that stock on the floor of the eK-
change would be prohibited after the close
of business today. Similar action was
taken by the New York stock exchange
Just before the market closed.
London sold a little Union Pacific during
the morning, but the stock was well taken.
A large block of this stock, taken yester-
day by leading brokerage house Is said
TO nave been purchased for Morga inter
est:s. Consolidated Gas stock showed more
strength today, advancing 2'2 per cent An
activity and good buying was Steel and
Wire, with talk Of a dividend on the COM
mon in the near future.
Following is the bank statement: Re-
serve. decrease, $l.3T5. Ia-S; loans decrease,
%','H62,b0; specie, decrease. 81 2bI .Brj; le-
gals. decrease, SI,2t6.9U0; deposits de-
S2G, 200
1t viii he seen by the above statements
that the banks have lost 81 AIS 9ga ir Law
fui money, about two-thrds of IL specia.
This represents the average of pavrnsnrs t,5
subtreasury less net receipts from Interior
Ihe important feature is the dacreasa II
over Sb,ool,o11 in the loans. The Del result
brings the surplus down to s.: un3 u0n
which certainly seems ample for ali bur
poses. The ease with which the market
rallied in the final dealings, on light trans
actions, shows that there ara no large
amounts OF stock seeking a market around
present prices.