The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-06
AIgHS(|B and SUGAR
Chief influences in Stock
Market, on Dividends.
SELLING AT ADVANCE
Too Much for Demand, and
Close Was Heavy.

| New York, June 5.-The stock market
| showed symptoms OF strength at vari-
| Gus times today. but the pressure 20 sell
at the advance proved too much for the
limited demand TO absorb and the latter
part OF the day was given over TO des-
ultory downward movement which car
rted prices below last nights level except
| far a few stocks. The strength o. few
shares was in eact the principal sustain
| ing influence OF the market at all times
/, The best support Of this character came
| from Atchison preferred, which began to
move upward early in the day "a afltic-
I ipation Of the dividend announcement
I The declaration of 23z per cent Tor the
| seni-Annual period had been accurately
forecasted and the advance IN the stock
came 10 a standstiil when the dividend
| was announced. After hanging sluggish
on the giving out OF the directors esti-
mates OF the net earnings for the finance
year, showing a handsome surplus over
the full per cent dividend requirement.
for the preferred stock. Atehison pre-
ferred thereupoh rose 10 1850 waicn is
on a level with the high-record price
made two months ago. \ number OF
other railroad stocks whose prospects OF
dividends or increased dividends have
been much exploited but not yet realized
showed the greatest sympathy with
Atchison. Baltimore and Ohio Union
Pacific and Missouri Pacific were the
principal instances. The response else
where was immediate. Owing to the
heavy outlay for betterment made after
the reorganization of the Atchison sys-
tenn, that railroad Is able TO show large
reductions az this time in operating ex-
pensas and IS almost alone among tho
railroads of the country in that respect.
The other incident Of the day TO attract
most attention was the sugar dividend.
which was maintained at the same rate
of IL per cent as the last. The move
E1ent OF this stock showed that the re-
cent buying has been based on accurate
foreknowiedge of this result. The selling
10 take speculative profit met so light
demand that the price fell away weakly
and had a decidedly depressing effect on
the whole market. The rise of a at
the opening was followed b. a decline
OF 81 on proft-taking ard the rally was
only feeble. Aside from the sympa he tic
influence of these movements. the market
was dull and apathetic throughout There
was a general but slight advance at the
opening in expectation OF the favorable
effect upon foreign markets Of the oc-
cupatfon OF Pretoria. This expectation
proved delusive and the markets at Lon
don. Paris and Berlin all turned heavy
before the close. Rejoicing over the
news was offered as an explanation OF
London's failure 10 spend time IN buy.
ing stocks and the Berlin market was
affected by weakness Of iron mining
shares on the condition Of the iron trade
in the United States Advices from Paris
admit a feeling of apprehension over the
unsatisfactory conditions in China and
the international complications that may
follow the end Of the Beer war Fears
OF Decentralization in freight rates were
an influence in causing the relapse in
prices here. The closing was dun and
distinctly heavy, closing prices being as
follows