The age-herald., 1899-01-12
sugar
Tn Wall Srre a.


 New York, January 1.-The directors meetings were responsible for considerable variations in the character of the stock speculation today. As is usually the case, forecasts were rife as to the probable ac- tion of the various directories in session, which were utilized for effect upon the mar ket values of securities interested. The most important development was the action of the Louisville & Nashville directors in re- placing the stock in the category of div- dend buyers The report submitted for the six months ending December 31, showed total income of 4,437 622,s and surplus of $1,i2i,799 after deducting fixed charges and sinking fund requirements. This exhibition prompted the management to declare d div idend of one-half per cent of the earnings for that period, which may foreshadow a regular annual disbursement of three per cent. The dividends on this property were suspended in 1893 and a reduction of 10 per cent made in the salaries of employees with a proviso that they would be restored when earnings-warranted it. This promise was carried out last year and the successive favorable character of the traffic state ments published aroused expectations with the investment public that dividends would eooH De uecldreQ on the stock. The ceedingS of the sugar directors were also viewed with considerable Interest as it in- timated that some publicity would be given of the result of the company's operations in the pending trade war The stockhold- CTS ratification of the action of the direc- tors in voting to reserve the profits of the company as working capital was interpret ed by the bears as indicating a possible abandonment of dividend payments. The stock was thrown on the market in large volume and sufficed to check the aggres- sive upward movement which was in pro- SreSs on the announcement that the senate committee had agreed to report without amendment the peace treaty. The market in general presented other features of striking interest, including as it did an out burst or investment buying which im- proved the standard shares 1 to 1 points The Vanderbilt stocks were unusually prominent, and a burst of animation and strength which lifted Pennsylvania H. ex- ercised healthful influence on the market The specialties aside from sugar moved in comparatively narrow limits and figured very modestly in the days total Early weakness in which Pittsburg, C.. c. & St. L. made sensational break of SIS gave the bears temporary advantage, but the bulls got the whip hand in the subsequent deal lngs and closed the market well up to the pest at substantial gains. London opera tions were considerably reduced and on both sides of the account
 The bond market developed a sagging ten- dency, but recessions were not significant except in isolated cases. United States 5s coupons declined as in the bid price,
 Total sales stocks to-day 947, 300 shares including 32,340 tchison, 54 i2o do preferred 17'22o c, & O., &,9 ,910 Burlington, 117,11O Illi- nois Central, 4625o L. & N, 39 200 Manhat- tan, $500 Reading preferred, 22,70O New York Central, 29,7O0 Rock Island, 19, 800 Un- ion Pacific, 27,SOO St. Paul, 41OO Southern railroad, 14,SS0 do preferred 3,S2O Texas & Pacific, 96, ,920 Sugar
 Money on call steady at 2kas per cent; last loan, 3.
 Prime mercantile paper, 393& per cent. Sterling exchange, steady, with actual business In bankers bills at 4.S41s@$4S4a4 for demand and at S4.S2@$4.S2A for sixty days
 Posted rates s4s3@s4.S51k.
 Commercial bills, S4S1.
 Silver certificates, nominal, 591ad601a.
 Bar silver, 591s.
 Mexican dollars, 465s
 Government bonds, easy.
 State bonds inactive.
 Railroad bonds weak