The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-29
THE SUGAR DIVIDENDS
Directors Announce None Will Be
Paid Unless Earned.
The Common shares an Active Fea-
ture of Yestcrdny's Market-Wide
Fluctuations In the Price-IrreEu-
iarity of General Trading-The
Gold Shipments From Australia.

NEW YORK, March 2S.-The statement
bv 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 regard 10 the periOdicity OF the
dividends on Sugar common stock, that is,
so long as the present disturbed trade con-
ditions continue. 1t would also seem
fair inference that in giving heed 10 the
recently revived rumors that a settlement
of the trade war was at hand. Wall Street
has as usual allowed its credu!ity &c
be imposed upon Sugar stock was an
active feature of today's market. and the
fluctuations in il were wide. Henceforth,
at all events speculation in the stock viii
be Invested at least of one of the most Sc
rious uncertainties heretofore qualifying il.
The stock market a large showed some
irregularity in the opening dealings. but
il 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
ci1ic 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, howeN
er, doubts as TO whether these companies
viii ever suffer severely from the OPP
erations Of the franchise law as has been
commonly supposed may have been in
strumental in their advance London
houses continued 10 deal heavily in the
local market and the operations on this
account were 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 we're about all
that there was to engage attention. No
material alterations in sterling exchange
conditions developed and authorities in
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 to 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
eign 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
rsngements had been made by which i'm
ports from this quarter will be resumed
and that $1,000. 600 or $500 600 has al
ready been taken. Prior to the out
break of the African war. San Francisco
had been receiving upward of 81 ,000, 900
q month through these Australian exports
Of gold.
The dealings in bonds were q conspic-
uous feature OF the general market today
6 uniformly strong tone being noted in
that quarter, while the trading was on
q larger scale of activity than for some
weeks. Conspicuous features In respect
of strength were the Central Pacific
1-2s, Wisconsin Central IS. and ST. Louis
and Southwestern Is. Interest in the
bond market was, however, general and
well diversified.