Evening star., 1900-08-02
Interest Shown in Meeting of B. and
0. Directors.
DECLINE IN CONTINENTAL TOBACCO
lndustrials Will Soon Begin to Feel
Influence of Politics.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. August Opening prices
were irregular but In the main steady
around last nights closing parity. London
cables reported slight Improvement In the
financial markets. due partly to the absence
of any advance in the official rate of dis
count
The meeting Of Baltimore and Ohio direc-
tors was awaited with unusual interest
traders hoping that some decided move
nent might follow. The early prices re-
hected a gain OF / per cent for the common
stock on its dividend prospects, and this
action was taken to Indicate a favorable
showing later in the day. The executive
committee recommended the payment OF
per cent on the common stock. one-half
next month and the remainder March /.
lol. The new stock subscribed for last
May does not participate In the disburse
nent. The earnings show a surplus OF over
Si'ioS,oo after charges and preferred div
iaend, an amount equal to nearly I0ls per
cent on the common stock. In view OF this
showing the recent action of the stock ia
not surprising
Inc announcement was followed by the
customary realizing the part Of the
room, the price declining IL. per cent from
the level Of the morning The buying was
called good and the stock rallied easily dur
ing the latter trading.
Some good buying was nottcea hla IN
Union Pacinc during the afternoon. inside
interests being credited with an intention
el putuhg the price up to the level tusti-
hed py earnings and its present dividend
rate. The fact that no time was rnenrion-
ed in declaring this dividend is ceasine to
nave any influence since Ii is well known
ina mat the dire tors expect the rate to be
per cent per annum, but deferred to mo-
uEes OF policy in stating time. The
rallroad list as a whole showed a lament
able lack of interest and fiuctuated mean
inS!essly within fractional limits
sharp decline In Continental Tobacco
Preferred was feature of the early trad
ing. the sudden decline of 3i1 per cent and
the sudden recovery of the loss suggested n
raid. Traders have been predicting such a
movement for weeks. but support came IN
earlier than was expected. Brooklyn Rap q
transit rallied on the announcement that
It's annual reports would not be given out
today. The delay will cause a further
period OF waiting in the Traction group as
much stress is laid upon the figures 10 be
submitted further reduction in the price
OF pig iron and fears of labor troubles
among the soft-coal operatives prevented
any material Improvement in the shares
directly interested in these Industries
The American Sugar Company has given
no indication of its belief in the revival of
q trade war. and the stock was quite a.
strong as the neighboring industrial issues
Inc Industrial department must shortly
begin to feel the influence Of politics since
the corporations so classified will be men,
TONED frequently in debate. This fact, cou-
pied with recent Improbable experiences
in them on the part of the public insures
a continued lack of preference for indus
trial shares. 1t is likely. therefore. that the
substantial interests will seek to dire,s
Whatever business there may be toward the
iower-priced railway issues. Noy-hat div
idends are being declared at rates unusu-
ally attractive to investors. the opportun~
Ties are considered somewhat exceptional
for such a movement. The size of the de-
mand may not admit Of wide fiuctua ations.
since the public is timld. as usual on the
eve or a presidential campaign. There is
almost no liquidation, and upon this fact
much OF the present strength rests.