The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-02

NEW YORK, Aug. 1.-The stock market
was for tae most part strong and dull.
and on a moderate rally speculation failed
to broaden. Abroad the securities mar
kets were improved en- more cheerful
views of the monetary outlook. The Loz-
don market closed heavy. The reported
advance Of allied troops en- Pekin was not
reflected TO any extent.
In this market the chief topics discussed
we're the division considerations growing
out of the action of the Union Pacific in
declaring q per cent dividend on TIE COM
mon stock, and while the street is looking
for a 2 per cent dividend on Baltimore and
Ohio, there have as yet been no official
declarations. Another subject that was
freely discussed was the probability Of a
new sugar war.
In the trade this morning interviews
with representatives Of the independent re-
fneries apparently had hostile tone. The
Arbuckle cut in the price Of refined sugar,
equivalent TO Lice per 100, was not met
by the National OF American during the
morning but there were indications that
the former would meet the figures. AT all
events the trade was somewhat unsettled.
1t was not reflected in the morning fiuctu-
atoms of Sugar stock.
Considerable bearish talk bearing on the
iron and steel trade prevailed. Prices are
heavy, new cuts were reported. and views
OF the outlook continue to be conflicting.
The market opened slightly irregular
with the railway shares, Union Pacific
common showing considerable strength
and Sugar and steel stocks exhibiting a
tendency TO sag. In Baltimore and Ohio
common the rise OF almost 2 per cent was
based on the approaching dividend meet
ing Dealings were quite large in Union
Pacific, and around IS 1-2 there was con-
siderable profit taking and selling BY bear
ism room traders. The supply was absorbed,
however, and the stock continued strong.
Burlington and Quincy and Atchison pre-
ferred were in fair demand, and the for
mer advanced easily.
Based on their June statements, Atchi- |
son saved about 30 per cent OF its increase !
in gross. c., B. & @ increased operating |
expenses 20 per cert OF its increase in |
gross, and Union Pacific alone shows an |
increase in operating expenses greater |
than the increase in gross. Gains in the |
remainder OF the railway list were frae-
ticnal; sales OF long stocks produced a |
decrease Of points in Illinois Central ,
Tendon was credited with sales of about |
10 Gee shares of Union Pacific and E. & o. |
comnon.
Brooklyn Rapid Transit was higher on |
expectations that the decision to curtail |
the privileges growing out OF the transfer |
system would be reported in improved |
earnings minor bull pool las recently |
been operating in this stock without any |
very great results. In view Of the recent |
strenuous efforts to economic and increase !
its income. the Brooklyn's forthcoming
statement is regarded with Unusual in
terest.
As usual among the industrials Sugar
was the leader and after a fractional de-
crease at the opening, il advanced Ia
Per cent in the face of frequent bearish !
bulletins from lower Wall Street Ameri- |
can Tobacco advanced ga per cent, but !
there was little significance in the ris.,
as it represented the covering of shorts |
and contest Of skill between a few room |
traders and the specialists in the stock.
Early in the afternoon extreme dulInezs |
prevailed. Steel Hoop common was decid-
eddy weak on a reported cut in the prices |
Of its products. Efforts were made to bring
Reading first preferred into prominence on
1F.~fl1 LII