The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1900-09-05
AN ACTIVE DAY IN
THE STOCK MARKET
Interest Conferred Around Sugar
on Both Sides.
IT WENT DOWN AND THEN UP
Caused by the Probable Action of the
g.. Directors-Other Specialties Were
Infuenoed-Apathy Still Ex-
ists-Bonds Inactive
IT WENT DOWN AND THEN UP

New York, Sept. 4.-The fever in Amer
lean Sugar Refining Stock which has been
undergoing press of careful nursing for
several weeks past, broke into crisis to-
day, as is not unusual the eve of the
dividend action on this stock. For several
weeks there was extensive buying of sugar
stock, but the manipulation to advance the
price which accompanied the buying around
the suspicious of the professionals. When
the stock began to drop the professionals
congra tulated themselves upon their fore
sight and became eager operators on the
short side of sugar. The apparent nquida-
ton of the long stock and the courageous
pressure by the bears continued even this
morning until the directors went into ses-
sion, about which time the stock touched
the low point at 1.17A.
After the adjournment of the directors at
1890 o'clock, there was rumor that the
directors had determined to put the stock
On an annual dividend basis of per cent by
Declaring a quarterly dividend of 2 per cent
Today No traffic announcement of the di-
fectors' action could be obtained, the meet
Ing having adjourned at $3.50 o'clock, or
until after business had ceased upon the
were evidently we'll convinced that the re-
port was well founded, and they ran the
stock up 51A points with their eager de-
mands for 1000 and 1000 share lots. The
price sagged off point. but stiffened again
to about the best at the close.
This buoyant rise in sugar helped some of
the other specialties which had been under
pressure in the morning, the early declines
in Brooklyn Rapid Transit, Manhattan and
Metropolitan being more than recovered.
Peoples Gas, which came next to sugar in
point of activity, recovered a point of It's
"a point break but fell away again in the
final dealings.
The war of gas rates In Chicago account
ed for its weakness American Steel and
Wire also got back to the top at 1ss over
Fridays prices, after its early movement
had apparently proved abortive. The steel
group as whole failed to respond, and in
Tennessee Coal and National Steel there
was not single sale during the day. The
same was true of Rock Island, and the
railroad list as a whole continued much
neglected. There was some firmness here
and there in the railroad list, notably south
west and southeastern groups Great North
ern preferred also was conspicuous for a
rise of ~, and St. Joe and Grand Island
rose TX. There was no indication. however.
of any general awakening from the recently
prevailing speculative apathy, and the news
of the day found no reflection in the STOCK
market.
Bonds were not active, but were slightly
hrmer in tone. Total sales, par value, $780,
600. United States IS advanced u in the bid
price.
New York, Sept. 4.-Money on call steady
ut 11l6I1h per cent. Prime mercantile paper
4051s per cent. Sterling exchange easy,
with actual business in bankers bills at
k4.S7ssQ4.S71a for demand and at A.A for
sixty days. Posted rates s4.S5@4. SS1a. Com
merclal bills 81. SsA@4. S3S4. Bar silver 81.
oliver certificates 61aI@62%. Mexican dollars
G%. Government bonds firm state bonds
Inactive, railroad bonds firm.
(By Private Wire to Murphy Coz