The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-04

,-ryy YORK. Auril 3-The stool. market
tbrouchout the forenoon had an uncertain
and rather unsettled tone. chiefly in sym
p3tby with the Industrial quarter where
some severe declines took place. Federal
Steel was the conspicuous feature of th"'
quarter breaking points.
This morning. announcement iu respect
TO what the holders OF the common stock
NAV look forward to in the way Of diyi-
dends in the current calendar year prooa-
Div accounted for the heavy selling 10
that instance. II ID had been the inlen-
tiou Of the management OF the company
to alter its constitution so as 10 permit
Of the paymeut OF dividends on the com
mon coincidentally with the payments on
The preferred il is rather remarkable that
they did not undertake the necessary steps
in time. As it is. however. the Federal
Steel common stockholders have probably
got to wait until December, as they ald
last year. 20 learn TO what extent they
are to share in the company prohis. inc
other steel ndustrials were likewise ue-
pressed during the weakness in Federal
steel. but aside from that stock and sugar
conspicuous in the days dealings
Sugar Refining was notably strong and
active the purchases in that instance De
ing apparently based upon yesterday
sharp break in the raw sugar market
which. Of course. tends TO introduce some
margin Of profit between the raw and the
refined article
The railway list again enjoyed a hrm
lindertone. and with the course OF the
day there were a number of sharp al
vauces in that quarter Of the markej
The conspicuous features OF the railway
list were the New York Central, Pennsyi-
vania ST Paul and notably Baltimore and
Ohio common. The rise in the last named
was noteworthy. particularly inasmuch as
the. stock advanced materially above the
preferred II is understood that the COM
panv has recently disposed Of its remain
ing treasury common stock. hut little else
that was definite attended its remarkable
advance other firm features of the mar
ket were General Electric. Western
Union. Tennessee Coal and Iron. and loca
traction shares
There were published i'm the course O.
the day a number Of interesting traih'
statements for the month OF February
including that Of the Burlington and Quln
cy company. and the strong shoWinEs gen
orally maze were ltutHlTe~ fl'N N4f' ID
the strength shown boy the railway lis
ar large The completion Of the april in
terest disbursements. notably those Of th'
Government was followed by an easl
money market. Sterling exchange condi
lions were not essentially altered. and M
day was otherwise devoid Of development
of general importance
The unsettliug effects Of the deferring o
the Federal steel dividends wore ava
completely with the course Of the day AM
the general market developed aggressiV
strength and activity. The anthracite Goa
shares. with the Reading issues in IN
lead. were conspicuous. The ease OF mon
ey and the probabilities Of an extremel
strong bank statement ar the close OF IN
week were referred 10 in connection VII
The markets tendency. Baltimore an
Ohio retained its leading position in tn
market with reports current that val
liable rights would be offered 10 the stock
holders in connection with the sale g
the treasury stock noted above.