Evening star., 1899-03-08
Stocks We're Irregular and Closed
Rather Lower Today.
Big FLUCTUATIONS IN SUGAR
Due to Doubt as to the Cominc
Dividends.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March s-A better local
demand for the coal stocks and advances
extending TO II per cent in London had a
favorable influence on sentiment in all
perts Of the list this morning. During the
mist few minutes of trading the market had
every appearance of having abandoned it's
reacuonary tendency. and traders covered
moderately in consequence. Prices halted
arter the INST few minutes of trading and
then declined under renewed offerings
around the ROOM
Al this point the pending dividend on
American Sugar was the chief tonic Of
speculative interest, and much difference
OF opinion was indicated In the trading
Selling for both accounts and the execution
or some stop orders resulted In a decline OF
"a per cent from early prices Toward
noon the idea that the usual quarterly dis
bursement of per cent would be sanction
ed gained ground and some urgent buytnr
followed
me price was moved up to 14Ols. a gain
OF 81 per cent from the low level. Eltmi-
mating the theories circulated for specula-
tive purposes il is very doubtful if anv
considerable belief was attached to the
reduction rumor.
Tomorrow ST. Paul directors will meet IN
take action on the dividend on those shares
and while no increase seems likely as the
result OF the very conservative policy now
IN force, there can be no doubt of the show
ing TO be made
The investment owners of the stock will
scarcely be induced to sell so long as pres
ent dividends and present earnings are per-
petua ted.
The Granger issues wers In better de-
mand today as the result of a syrrlpaxhetic
movement, but there would seem little
prospect Tor an aggressive demand in them
until after the wheat prospect becomes a
more definite factor.
After period of pronounced duliness and
a maximum decline of II per cent there
was better demand for Southern Pacific
shares. This company IS in excellent phy-
sical condition and should continue to show
earnings in excess of charges and possibly
q small dividend.
The settlement of the Central Pacific debt
was disappointment speculatively, but
the buying of both properties has been by
conservative interests who believe in the
future of the combined roads
Inc daiiy warning as to the possible evils
or industrial incorpora ton on the recent
unprecedented scale has had the effect OF
arrestng the public demand for such
shares.
In American Steel and Wire. however
there Is an element of natural development
which is giving confidence and encouraging
conservative investment inquiry. The
general industrial list is not being pushed
to the front by the larger operators for the
very reason that the promoters themselves
are taking advantage of the public warn
lRgs and have become reasonably cautious
Friends of Tennessee Coal and Iron are
confident of increasing merit in that prop
erty and believe that it will do as well as
anything elese in an active market. The
best opinion on the market seems to be
that lower prices are not likely products
or the prevailing commercial prosperity.