The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-02
Just rs A REMINDER
Of What II Could Do but for
the Election
STOCK MARKET BULGES
On the Pennsylvania Dividend
Lake Shore at 230.

New York. Nov Ia striking evidence
of the construction upon speculation vas
given by the action Of the market today
on the announcement Of the declaration
of an extra dividend of 1 per cent on
Pennsylvania railroad stock. Previous
70 the announcement the stocks had
oeen lifted a. point and then reacted.
When The news was bulleuned there was
a spasmodic rise in the stock TO 1852.
but only one sale was made at that price,
after which it fen back. Early in Octo-
Der Pennsylvania sold AT Us il has
been actively traded in by energetic Duh
interests since that time, and great
variety of assertions have been maze 40
to the forthcoming benefits 10 the STOCK
Ii was alleged. for instance, that me
stock would certainly be placed apon a
ner cent basis Another story had IL
that a distribution would be made OF a
large portion of the great surplus IN the
Pennsylvania treasury. On the otn et
hand. the belief has prevailed senerally
that these assertions were exclusively
for stock-jobbing purposes and that the
company would persist in the regular
dividend rate of pa per cent semi-annu-
ally which has prevailed ever since 1887
Reviewing these past conditions, IL Is
fair 70 assume that t0day's acton " as
a dfsappointment 10 some Of the active
bulls in the stock, while II was certainly
an agreeable surprise to the conservative
element in the Street. Bat when II -
considered that the net earnings Of the
Pennsyivania railroad and Of the lines
directly operated by it have tncreas d
during nine months Of the year more
than 100000 over the corresponding
neriod Of last year. today's rate Of dis
tribution seems moderate. The extra
dividend viii involve the disbursement q
a little over s. $4,000. The stocks net
gain was a. and the trading was re-
markedly quiet. There was a consid "a
bic snow Of strength in Sugar The adj
vance was attended by rumOrs that a
break in the prices OF refined sugars IS
imminent. Business in the market at
large vas too small to have any import
ant effect on prices, though the market
closed with the level somewhat about
like last night, having been at one time
a shade lower. 4 single lot OF Lake
Shore sold just before the close at go,
after having sold yesterday al 30. The
closing bids were quoted at 210A Moth
ing could be learned to account for this
small but urgent demand. The repres-
sion Of speculation is stiu attributed %
the controlling interests" IN the mar
ket The rise in the call loan rate to-
day to per cont may have some bear
ing on the extreme duIiness Of the spec
uladon. Stock market demands upon the
money market during the week have
been extremely moderate and further re-
ceipts today Of imported gold bToua 1T
the total UP to nearly 100000 on that
account. Not a dollar has been trans
I F~ f--+- 10 "a
/ treasury since last Friday. That call
loans should have stiffened TO-DAY under
those circumstances argues some special
( demand on the money market. The de-
mand is probably due TO the making of
/ arrangements for November dividend
/ disbursements. and viii therefore be TEN
/ 20 airy and followed by an abundant re
( turn to the market within FEW days
/ Closing prices of stocks were as follows.