The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-29

NEW YORK. March 2S.-The statement
by the President OF the American Sugar
Refining Company. made this morning,
that dividends will not be paid at
any Tine unless they are earned, eff
fectually disposes OF the much mOoted
question in regerd o the periOdiclty CT The
dividends on Sugar common stock that is,
SO long as the present disturbed trade con-
ditions continue % would also seem a
fair inference that in giving heed TO the
recently revived rumors that q settlement
Of the trade war was az hand. Wall street
has. as usual allowed its credulity &C
be imposed upon. Sugar stock was an
active feature Of today's market. and the
fluctuations in IL were wide. Henc'forth.
at all events. speculation 90 the stock viii
be Invested al least Of one OF The most Sc
rious uncertainties heretofore qualifying IT,
The stock market al laTg, showed some
irregularity in the opening dealings. but
30 soon developed pronounced strength and
activity. The railway list continued well
in the lead Of the market. with The activity
most pronounced in the same quarters
which have recently been prominent The
features Of the market were Northern Pa
cinic common. Union Pacific the granger
shares and the anthracite coal issues. The
local traction stocks were also notably firm,
although no definite reasons could be as
signed for their course. Probably howev-
er doubts as 20 whether these companies
viii ever suffer as severely from the op-
erations OF the franchise law as has been
commonly supposed may have been In
sirumontal in their advance London
houses continued 10 deal heavily in the
local market and the operations on this
account we're on both sides Of the market
The general tone Of the London market
was reported rather heavy chiefly because
Of some uneasiness regarding the diplo-
matte situation in the Levant For the
rest the days traffic returns and the
easy monetary situation were about all
that there was to engage attention. No
material alterations in sterling exchange
conditions developed and authorities ia
that market pointed out that whereas for
ign spectators had been heavy buyers
Of stocks here Of late the movement OF
investment securities was still in large
volume toward this country and was Ger
tainly Of sufficient volume 10 Offset the
effect Of the foreign speculative buying
Of our stocks In short. while London
operators can afford to speculate here
il is obvious that under present conditions
no great foreign investment demand can
be looked for in this market for an indef-
mite period.
An item Of interest as regards the for
elgn exchange situation was learned today
which has not as yet become generally
known. Ever since the outbreak OF the
South African war gold shipments from
Australia to San Francisco have been
suspended. II was learned today that
for the first time since September ar
rangements had been made By which i'm
ports from this quarter will be resumed
and that $1,000. 600 or 81 500 600 has al
ready been taken. Prior 70 the out
break Of the African war. San Francisco
had been receiving upward OF g. 600 600
q month through these Australian exports
Of gold.
The dealings in bonds were q conspic-
uous feature Of the general market today,
q uniformly strong tone being noted in
that quarter, while the trading was On
a larger scale OF activity than for some
weeks. Conspicuous features IN respect
OF strength we're the Central Pacific
lbs, Wisconsin Central As and St Louis
and Southwestern IS. Interest in the
bond market was, however, general and
well diversified.