Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-06-17
Stocks Opened Strong and Invited
Realizing Sales,
IRREGULARITY TOWARD CLOSl
Missouri Pacific Resumes the Pay
ment of Dividends.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

special Dispatch TO The Evening Star.
NEW YORK, June 17.-Opening prices
this morning reflected substantial gains
over the closing level of Saturday, but SUBJ
seQuent trading was a trifie irregular. The
Missouri Pacific declared 21a per cent
semi-annual dividend and the privilege to
shareholders of record July of subscrib-
ing to new stock at par, one share for
every fifteen now held
This action had been discounted to a con-
siderable extent. and no especial demonstra-
ton was made in the stock. The street ex-
poets the Southwestern deal to mature more
rapidly now that Missouri Pacifics affairs
have been given attention and the dividend
policy publicly disclosed.
The Union Pacific-St. Paul transaction
was the dominant factor of the early mar
ket, both stocks opening at substantial
advances and holding well until noon. At
ter the latter period realizing sales result
ed in lower prices, but the significance Of
the deal continued to be the most impor-
tant topic in the street.
The buying of St. Paul preferred was
good throughout the day, and that stock
was unusually active for such a closely
held investment issue.
The plans for harmony in the Northwest
are far reaching, and numerous important
market movements are certain to be made
around them.
Atchison is expected to take an i'm
portant place in the affairs of western
roads once the st. Paul deal goes through.
and a recognition of the commanding posi-
ton of the Atchison line is attracting a
big demand to it's shares
Good crops and splendid earnings from
current business make the property specu-
latively strong in spite of it's rise since last
fall. Pennsylvania was strong, but the first
prices were not improved by the later deal
ings. New York Central, Illinois Central
and all the high-priced shares were strong
under an investment demand.
The strength of the bond market is an
encouraging sign and indicates a general
preparation for the employment of the July
disbursements. In the Industrial list there
was better demand for stocks and indi-
cations point to increased business through
out this department.
United States Steel issues were strong
and the best Information now favors the
declaration of a dividend of 1 per cent
quarterly on the common stock at the same
time the preferred dividend is declared
This action should stimulate the demand
In both.
A sudden demand for Tennessee Coal and
Iron was feature Of the early market the
price advancing Z per cent under the buy
ing. Rumors of return to a substa ntial
dividend basis and the possible absorption
by the trust helped the advance. Republic
Iron and Steel was forced to the front at
the same time. but stock was freely sup
piled at the high prices.
The fractions were steady, but no at
tempt was made to force them to the front,
although the talk of them is very confident
Gold shipments to the amount of 81, OOO,-
600 will be made by tomorrow's steamers,
but the market paid little attention to this
outflow. Money is easy and there ere no
signs Of scarcity.