New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-10-04
'Ex interest.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Dealings IN yesterdays stock market were
light but prices were generally higher. Note
worthy exceptions to the advancing tendency
were presented by Sugar Refining and Tennessee
Coal and Iron, in which liquidation and bear
pressure were exerted for reasons not affecting
the general list slashing Of prices in the
sugar trade was responsible for lower quota
tons IN American Sugar Refining stock. while
the approach OF the dividend meeting of the
Tennessee Coal and Iron Company induced bear
attacks upon the shares OF this concern Sugar
prices have been reduced because the demand
for the refined product shows a seasonable de-
crease, but the movement of Sugar prices yes
stsrday also reflected that the outside refneries
are attempting to get business by undertaking
the trust It is understood that the American
Sugar Refining Company has made heavy prof
Its IN the last few months, but II is likely that
surplus earnings viii be used to Offset the losses
due 70 active competition rather than for in
creased dividends. The dividend question is
troubling holders OF Tennessee Coal and Iron
stock. Recent earnings Of the company have
shown a material falling off from last years
receipts. and in consequence it is thought that
the per cent quarterly rate on the common
stock is in great danger Of reduction. In fact,
the movement of the stock is taken by some
people ss indication that the dividend will
be passed.
l1issour: Pacific, Northern Pacific. Union Pacific
and Burlington were strong features on a mod
crate volume of business but little enthusiasm
zyas shown IN the trading. The bull element is
confident that the stock market is not going 70
p1eces. but Of is not convinced that sustained
k1N speculation can be carried on at the mo-
zzsnt Bear traders appear uncertain over the
future of values. and they show no marked dis
posi8ion TO keep their contracts uncovered for
xSy length Of time. The best market judges
In the Street are not prepared to admit that
prices viii enjoy marked advances before the
s9sotion. but, the other hand, they apparently
hsiieve that the time for a Bryan scare in stocks
has gone by. Perhaps when Mr.. Bryan in
vades'' the East efforts will be made TO force a
break in stocks break might be easily brought
about If weak holders held securities. but IN
less investors and substantial Spectators be-
come frightened a marked depreciation in mar
ket values should not take place.
Sterling exchange weak again under
heavy offerings Of cotton bills The London dis
count market showed some response to the lower
exchange rates here, but a further decline In
the Berlin money rate was reported. The posi-
bility of gold exports to the United States had
no effect upon the London stock market, which,
like the local market, was strong and higher
The advance here in the morning dealings at
Tacteo SOME CoIilLIl4sS4Oh HOuSe OUSinS III inc
afternoon. while it induced more bullish senti-
rnent throughout the Street. The early loss in
Tennessee Coal was recovered before the close
and of the active stocks Sugar Refining alone
ended at a net decline Gains OF 1 per cent
and over were common, the Improvement ex-
tending to all parts OF the list. The afternoon
advance was accompanied by increased dealings
Final prices were at about the best Of the day.
Buying was attracted by renewed reports that
the coal strike was practically at an end.