The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-12

variations in the character of the stock
speculation to-day. As is usually the
case forecasts were rife as to the prob
able action of the various directories i'll
session which were utilized for effect
upon the market values of the securities
interested. The most important devel-
onment was the action of the Louisville
and Nashville directors i'll replacing the
stock in the category of dividend pay
ers The report submitted for the six
months ending December 31st showed
total income as 81, 437 500 and surplus
of S1,426.799 after deducting fixed
charges and sinking fund requirements.
This exhibit prompted the management
to declare dividend of ! = per cent, ont
of the earnings for that period, which
may foreshadow a regular annual dis
bursement of , per cent. The dividends
on this property were suspended in 1893
and a reduction of 10 per cent was
made in the salaries of employees with Il
proviso that they would be restored
when earnings warranted it, This prom
Use was carried out last year and the
successive favorable character of the
traffic statements published aroused ex-
DpttHltOHS WIN tlIt NtSlttlthl DNDI'N
that dividends would soon be declared on
the stock.
The proceedings of the Sugar direct
ors were also viewed with considerable
interest. as it was animated that some
publicity would be given as to the result
of the companies operations in the
pending trade war. The stockholders
ratification of the action of the directors
in voting to reserve the profits of the
company as working capital was inter
preted by the bears as indicating n pos
sible abandonment of dividend payments.
The stock was thrown on the market
in large volume and sufficed to check
the aggressive upward movement which
was III progress on the announcement
that the Senate committee had agreed
to the report without amendment on the
peace treaty.The market n general pre-
scented other features Of striking interest
including as it did an outburst of in
vestment buying which improved the
standard shares from / to 1 points. The
Vanderbilt stocks were unusually promi
nent, and burst of animation and
strength which lifted Pennsylvania AZ
exercised a healthful influence on the
entire market. The specialties aside
from Sugar moved in comparatively mar
row limits and figured very moderately
in the days total. Early weakness in
Pittsburg c.. C. and St Louis made Il
sensational break of 61s gave the bears
temporary advantage but the bulls
got the whip hand in the subsequent
dealings and closed the market well
up to the best at substantial gains. Lon
don operations were considerably re-
duced and on both SIDES OF the account
The bond market developed a sagging
tendency but recessions were not signifi
cant except in isolated eases.
United States SIS, coupon, declined q
in the bid price.
Tie total sales of stocks were DAT 800
shares. including: 32,340, Atchison; a.,
400. Atchison preferred; 9,340, Central
Pacific; 1920, Chesapeake and Ohio,
81 .920, Chicago, Burlington and Quincy;
1850. Denver and Rio Grande preferrad;
lilo, Illinois Central; 46,250, Louis
vile and Nashville; 1920 Manhattan
Il; $500, Reading first preferred; s.
020, Minnesota and st. Louis: $4,000,
Missouri Pacific; 22,141, New York
Central: 54,S75, Northern Pacific: r.
100, Northern Pacific preferred; 6,665.
Ontario and Western; 9.100, Reading,
%. 40, Rock Island and Pacific; TO- 795,
Union Pacific; -, 745, st. Paul; $40,
st. Paul and Omaha; 5,065, Southern
Pacific; 1924, Union Pacific preferred;
14,SS0, Southern Railway preferred; T.
$40, Wheeling and Wake Erie; S,T25,
Bay State Gas; 26,320, Federal Steel,
G,020. Federal Steel preferred; 12,215.
Peoples Gas; 96,920, American Sugar:
5,41o, United States Rubber; 1850, St
Louis and Southwestern.