The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-01-12
EASTERN MARKETS.
NEW YORK STOCK MARKET,

NEW YORK, Jan. u.-Directors' meetings
were responsible for considerable variations in
the character Of the stock speculation to-day.
AS IS usually the case forecasts were rife as
to the probable action Of the various director
les in session which were utilized for effect
upon the market value of securities interested.
The most important development the &C
ton Of the Louisville and Nashville directors
in replacing the stock in the category OF divi-
dend payers. The report submitted for the
six months ending December 81 showed the
total income as 81 622 and a surplus of
s.. 1926 79e. after deducting fixed charges and
sinking fund requirements. This report
prompted the management to declare a divi-
dend OF III per cent out Of the earnings for
that period, which may foreshadow a regular
annual disbursement of per cent. The divi-
bends on this property were suspended in 1893,
and a reduction Of 10 per cent made IN
the salaries of employees, with a provso that
they would be restored when earnings war
ranted it, This promise was carried out last
year, and the successive favorable character
OF the traffic statements published arouse ex-
pectatons with the investment public that the
dividends would be soon declared on the stock.
The proceedings of the Sugar directors were
also viewed with interest, IT inti-
mated that some publicity would be given OF
the result of the company's operations in the
pending trade war The stockholders ratih-
cation Of the action of the directors in voting
company
ing capital was interpreted by the bears as
indicating a possible abandonment of dividend
payments. The stock thrown the mar
ket in large volumes, and sufficient to check
the aggressive upward movement which was
In progress on the announcement that the SEN
ate committee had agreed to report without
amendment the peace treaty. The market in
general presented other features OF striking in
terest, including it did an outburst of in
yestment buying which improved the standard
shares from ! to points. The Vanderbilt
stocks were unusually prominent and a burst
of animation and strength which lifted Penn
sylvania a.. exercised healthful influence on
the entire market. The specialties aside from
Sugar, moved in comparatively narrow limits
Early weakness in which Plttsburg Cincin-
natl, Chicago and st. Louis made a sensational
break of 6ls gave the bears a temporary ad-
vantage, but the bulls got the whip-hand in
the subsequent dealings and closed the mar
ket well up TO the best at substantial gains
London operations were considerably reduced
on both sides Of the account. The market for
bonds developed a sagging tendency, where
recesssions were not significant except in iso-
lated cases. United States 5s coupon declined
Is in the bid price.
Total sales OF stocks to-day. 947 800 shares
including 30 $40 Atchison 81, 400 do preferred
S0,340 Central Pacific; 10 22O chesapeake and
Grande preferred; 1850 Great Northern pre-
ferred; H,ll0 Illinois Central; as, $50 Louisville
and Nashville; 80 200 Manhattan; So 500 Read.
ing preferred; Is, 500 Missouri Pacific; % zoo
New York Central 54,S75 Northern Pacific,
u, 100 do preferred; 5000 Southern Pacific; 10 ss(
do preferred 26,32O Steel; 500, do preferred
12.250 Peoples Gas; 1876 Colorado Fuel and
Iron; 1880 Pacific Mail; SO 800 Sugar; 54l5 Rub.
Der; $500 Rock Island 10, 500 Union Pacific,
u, 100 do preferred.