Evening star., 1900-03-06
lndustrials Weak Again Owing to
Situation in Sugar.
GOOD BUYING ON DECLINES
Railroad List Profits by IrreguIarity
in Other Stocks.
GENERAL MARKET REPORTS
Special Dispatch tc The Evening Star,

special Dispatch tc The Evening Star
NEW YORK March 6-The room saw
httie encouragement in the market outlook
this morning. and was inclined to fear an
| epfuemic OF unfavorable criticism OF the tn
oustrlals The chief reason for this atti
l',nde was the fact that Sugar directors, in
declaring yesterdays dividend, failed to
| make the disbursement for any specinad
period The street jumped at the concIu-
sion that the company would simply omit
the consideration of dividend three
months hence. and that the stock mad
passed from the list of dividend PAYERS
Later In the day reduction OF 10 cents
per 100 pounds on the refined product was
taken TO mean that the aggressive move
ment against the independent reflncries had
| begun. Inc stock was raised from time 10
time, but there was always unexpected sup
port at the lower prices. American sugar
iiad earned a conspicuous place in the in
austrlal department by reason of the r.el,-
Iarity or Its j. per cent dividends Every
year ,hfeats were made to reduce the rate
M oruer 10 accomplish some master stroke
OF policy, but at the last moment a less
drastic remedy was devised
"het crlticlsms were made of the new
liiuustrlals the fact that thcy maid large
dividends but made no statements 4, he
came fashionable to rebut that argument
py referring to the same defects I'm SIIPar's
a'''teti' oI iNS shareholders. Yesterdays
action has destroyed the standard and the
industrial list boarders upon chaos because
confidence has been destroyed in a propsrty
dividends F'9 " sc
Inc professional element, which makes IN
tne present stock market saw little hone
ior the untrfed properties in a year which
marks such a confes sion of decreased earn.
1mss on the part of the Sugar company
This feeling was not so fully reflected in
prices as In sentiment, but the demand for
me Industrial shares came almost exclu-
slNely from the short element
Ihe natural outcome of the prevailing ar
guments should tend to increase Interest in
the railway list
Already there is some commission house
buylng, based on earnings and coupled with
the hope that the market will cut away
from the fndustrials just as IL did from the
South African war.
The annual statement of the Penusyl-
vahia railroad, published today had a
beneficial influence on both the home and
foreign markets.
mis- company reports an enormous traffic
ana a most fattering net result Coming
as II does, at time when interest Is CEN
tering IL the coal shares, this reflection OF
prosperity must prove of benefit to all the
Well-managed, neighboring properties
southern railroad reports "a further s,,h-
stantial Increase in weekly earnings ana
Atchison and Union Pacific were well taken
on assurances OF a most encouraging nature
covering this years prospects
Public interest is not revfv-ing To tho o,.
tent necessary TO make a big market but
certain shrewd cliques are beginning 10 htIy
STOCKS IN the hope of broader marker IN
lhe near future. The covering of short
STOCK IN Ihird Avenue and OF her. active
shares was a feature OF the last hour.