The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-05
NO RISE FROM DECLINES
Persistent Pressure Throughout
the General List.
Sugar Reclining the Point Of Denr At
tnck on the Ground That the Dfvl-
dend Was Not Increased - IrreEu-
larity i'm Industrials - Favorable
Statements Cause No Rallies.

NEW YORK, Dec. 4.-There were less
appearances Of irregularity in today's
stock market, declines predominating in
the early dealings and becoming gen raj
and pronounced with the course OF ,ae
business session With little actually
new in the mornings developments the
trading opened unfavorably influenced by
the material declines shown in the Lon
don market for American stocks. The eff
feet of this circumstance was augmented
by the renewed selling here for foreign
account. which on balance agerega ed
about 5000 shares A number of excep-
tionally favorable returns OF railway
traffic. including these of the st. Paul
Company for the last week of November,
were reported today, but they were With
out appreciate effect either as regarded
the stocks particularly concerned or the
general market.
Aside from these there was little or
nothing bearing upon particular stocks
except the declaration of number of
dividends. among which that on Sugar
Refining naturally excited the greatest n
terest. For weeks past the idea has pre-
vailed that the American Sugar Rein .ng
Company would at this period either adj
vance its rate Of dividend or otherwise
make an extra distribution CT profits.
The notion has, to some extent, been
strengthened by the course Of the stock,
although as regards the management of
the company II is only fair to say that
they have done nothing to foster the .dea,
and in fact, 1t seems TO have been de ell
oped by spontaneous generation out OF
Wall Streets own consciousness. The
announcement of the dividend at the
same rate that was declared in Sept M
Der nevertheless took the speculaiiv
community altogether by surprise. and it
was followed by an exceptionally sesere
break in the stock, which, taking place In
an already somewhat unsettled market,
led TO further declines in the general list.
The effect of the action of the Sugar di
rectors was in certain sense augmented
by the fact that 1t had not been expected
that the dividend would have been acted
upon until tomorrow, while the manage
ment followed the rather unusual course
Of declaring the dividend uptown instead
OF at the Offices of the company.
The Sugar dividend declaration was the
main incident in day otherwise rather
bare OF interesting developments apart
from the actual movements in the market
themselves. These were again exception
ally confused and irregular. although. as
noted, the sagging tendency of prices was
more general than it has been for long
time. The dealings in the steel indus
trials. and notably in American Steel and
Wire and Federal Steel. continued very
animated, but while both stocks we're ma
terially depressed in the early. dealings
they subsequently rallied with noteworthy
rapidly
transactions in the industrial
quarter were quite overshadowed by those
already referred to. Among the specialties
there were further material declines in
Tennessee Coal and Iron, Colorado Fuel
and Iron. and Peoples Gas. but in none of
these instances did any special news or
gossip develop which would account for
the course.
The dealings In the railway list were in
large volume and were we'll dis
fribased. A few Of the lower priced is
cues. notably Texas and Pacific. showed
comparative strength, but as a rule that
quarter of the market participated in the.
unsettled tendency CT the general list. The
money market continued active and the
banks quite generally marked up rates on
steading loans to 41-2 per cent which
was perhaps also about the mean figure
on the days new borrowing. Further
heavy shipments Of currency to New Or
leans were announced today Throughout
the irregular stock market the dealings
in bonds showed firm tone and several
substantial advances were made. notably
in the Erie, Central of Georgia. and Green
Bay Western issues