Omaha daily bee., 1900-12-05
MOVEMENTS OF STOCKS AND BONDS
Announcement of Quarterly Dividend
Jars sugar Loose All Around.


NEW. YORK, Dec. A favorite paradox
in Wall street is that surprise is always
expected in, Sugar. In the pirsu.t of their
always trying to discount what they eX-
pect and the consequence Is that In Sugar
they. are Invariably surprised and disap-
on the quarterly dividend has been looked
for at any, time for several days past and
the news" as to what the dividend would
be has varied all the way from an increase
in the regular rate from Ia to per cent
and up, TO the regular ia and an extra dis
bursement of 2 per cent. The speculation
has gone on right merrily on that basis
Inc ahe price was run up to 1S5A this morning
no action would be taken on the dividend
today Consequently the announcement u
little later that the directors had met at
the private residence of the president Of
the company and declared n dividend of
only "a per cent came like a bombshell
upon the speculative contingent.
, In their rush to save losses they forced
the price down by rapid stages. meeting
on the way down. The Stock touched i'Is ig7i. Z
IN the last hour, which was full points
loss of 81 The violent slump in this stock
had a depressing influence on the whole
market but the movement elsewhere at no
there were points of strength persisting
here and there in the railroad list. notably
southwesterns, but these yielded their gains
N the late reaction. In the early dealings
specia tiles and especially the steel stocks.
and except for Tennessee Coal held well
The pressure to sell the railroads grew
steadily during the latter part OF the day
ABOUT of hem shSw met
ton & Quincy declined ia. The general
weakness, ,,,I,h while partly due TO sympathy
doubtedly based for the most part on
anxiety as to the ability of the money
market to carry speculative accounts safely
There uoy was no evidence that liquidation
anything like forced liquidation In view OF
large advances in prices which the market
Owing to. the renewed movement of cur
rency to the interior and the present low
level OF pension disbursements the sub
money market nearly $1,000 600 since Fri
day. Today.s transfers to the interior.
compared with s55OOoO yesterday. Another
noticeable feature Of the situation is the
he Sf sterns bs in spite
and the notably easier rates In London
ans, and Berlin The foreign selling Of or Sc
extent OF about % 900 shares is supposed
to account for this. The opinion is ex-
this process has been carried so far as to
leave New York without future power to
draw gold from European sources. In this
shipment from Australia to San Francisco
OF I,5OO,OCO In gold has some Significance.
Incoming steamers are bringing large ship
ments of American securities recently sold
by foreign holders and the increase In the
supply OF stock available for lending serves
to facilitate bear operations in the market
The bond market shared I'm the reac-
tionary tendency of the stock market, but
was varied by new points of strength.
Total sales, par value, $3,5O5000. United
States new As advanced Is per cent on the
last call
The Commercial Advertisers London
cabegram says: Business In the markets
| hero today was restricted and dull. specu-
| lators refrainng from dealing until Thurs
days Afrikander meeting, which 1t is
| thought may create some political dis
quietude. Paris rumors of settlement OF
| In tintos of 1S and In Spanish ts of " and
fell S-ls; The sales Of tintos were attributed
| TO President Mckinley's reference to trusts
In his message. which hitting the Anal
| gamated company would, It is thought,
react on tintos. but the trouble Is appar-
| entity local. London was dull throughout
except for Fries. I'm which an apparently
| concerted movement was made. both here
| and in New York. London was inclined to
| sell the list. but New York steaded prices
| sending Erie lists 81 above London prices
| The Bank of England lost G150O 600 gold 70
| Egypt and G50,O0 to Java. Money was
plentiful despite the payment of f1,0OO,0Ot
| In treasury bills.
| The following are the closing prices on
| the New York Stock exchange: