The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-03


developments during the week and inter-
est in the condition of the trade and OF
| Sugar Trust stock has perhaps been
| greater than In any one other matter. The
facts known are that the National Sugar
Refining Company is being formed, to be
composed of all the independent COM
panies, with the exception of the Ar
buckles, and that the price of sugar has
| been advanced by all interests by sue
cessive steps about IL cent a pound
during the past three or four weeks.
| There has not been such large advance
in the price since the sugar war tosan.
From being run on losing basis in a
! few days some incentive has been power
| full enough to put the entire trade OIL a
| footing where abundant profits will be
possible. What the connection between
! the formation of the new company aDd the
| advance in the price is the street has not
| yet discovered certainly. One story is
J that the trust controls the new concern.
| Another is that the trust really has been
| defeated by the formation OF a powerful
| rival and forced to come TO terms. The
| street generally believes, however. that
! the trade is on much better basis and
| that TO all intents and purposes the war
| is over Naturally this leads to much OPP
| timism regarding the future Of Sugar
| stock, which has been tumbled in price
| owing to the effects of the war and may
! reasonably be expected to get back its old
position now. The stock advanced to 120,
| a new high price during the week. II was
fairly strong at all times.
The steel stocks were generally strong
| during the greater part of the week. but
| they lost a part CT their gain yesterday
exhibiting considerable weakness during
the entire session. The week saw the
| declaration of the regular "a per cent
| quarterly dividend on Steel and Wire COM
mon and preferred stocks, n most impor-
tant event, as many interests in the mar
| ket had expressed much skepticism re-
| garding the common stock dividend As
| a matter of fact, and as has been known
| by people who have kept themselves in
| formed regarding the matter, the divi-
| dend on the common stock for this entire
year was earned last year and set aside
for the purpose by special action of the
company /: would have been out of the
question 10 fail TO pay 1t. and it is not to
be considered that 1t will not be paid
during the balance of the year. The divi-
dend could not be passed except by spe-
ciaI action on the part of the stockhold-
ers. Tie declaration OF this dividend,
equal to per cent on the present price of
the common stock together with more
encouraging reports regarding the condi-
ton of the trade, caused the advance in
this stock and in the others Of the group.
The decline yesterday was on realizing by
the professional operators and on some
further short selling. The closing down
of three mills OF the Wire company at
Cleveland helped these people to end up
the week In their usual fashion, although
the shut-downs should not be considered
important.
The feature of the market as far as
buoyancy during the latter part of the
week is concerned has been Baltimore and
Ohio common. The low price during the
week was 76 on Thursday. and the high
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