Show Pennsylvania Jumps Up on De Do Declaration of Dividend 4 TRADING IS SMALL C SUGAR MAKES A SLIGHT SHOW SEOW T OF 3 New York Nov 1 A striking evidence of the constraint upon speculation was given by the action of the market today on the announcement of the declaration of an extra dividend of 1 per cent on Pennsylvania railroad stock Previous to the announcements the stock had bad listed a point and then reacted When the news was wan bulletined there was a jump to Zo but only one sale was made at that price utter alter which it fell back Early In Octo October her ber Pennsylvania sold below It has been actively traded in by energetic bull interests since that time and a great variety of assertions have been made madO to the forthcoming to the stocks It was alleged tor br instance that the stock would certainly be placed upon a 6 per percent percent cent basis Another story had it that a distribution would be made of a large portion of the surplus in the Pennsyl Pennsylvania vania vartia treasury On the other hand the belief prevailed generally that these as assertions were exclusively for lor stock job iou jobbing bing purposes and that the company would persist in the regular dividend rate of 2 semiannually which has prevailed ever since 1594 Reviewing these past conditions it t is fair to assume that to days action was a disappointment to some of the active bulls in the stock while it was certainly an agreeable cur sur surprise price prise to the conservative element But when it is considered that the net earn earnings earnings ings ot the Pennsylvania road and the lines directly operated by it have increased ed in nine months of the year more thaw than over th corresponding period of last year rate of distribution seems moderate The extra di dl 11 Involve t of 5 little ov The stocks net gain was anu the trading was There was w as J a considerable show Of strength in Sugar The advance was at attended attended tended by rumors that a break in the prices of refined sugars Is imminent Bust Bustness Bustness ness in the market at large was too small to have any important effect on prices though it closed with the level somewhat above last night after being one time a shade lower The rise in the call loan rate today to 5 per cent may have some bearings on the extreme dullness of the speculation Stock market demands upon the money market during the week wee k have been ex en moderate and further receipts of Imported gold brought the total Jp p to nearly on that account Not a dollar has been transferred to the interior by the since last Friday That call loans should have hwo stif stiffened today under these circumstances augurs special demands on the money market The bond market shared in the dull dullness nose ness of ot stocks and prices moved irregularly irregularly Total sales rr U s bonds were unchanged on the last call Bond Quotations r p S its ret N Y YN U S N J C U S 3 reg N P Cs ft U S 13 Is coup 9 N P F U B S new 45 ragil 4 N YC S Li LiTT s sU TT tl U 9 S flew n 45 45 Ac coup N W con 37 U S old 45 Ore Nay Nav l lets R ROre US old Ore Nay Nav U S Is reg O 0 S L U 13 S Sc coup O 0 S L con SelM Dis C 3 1241 Reading gen 48 is Atch gen sen R B G Av Isis Ista 98 Atch 4 St L u 1 M Can Ss Se 4 con COR Is c o St I L S F FC C O 0 gen Cs C N con St Paul cons C N S P r St P C P deb as Is St P C P I Chi Term So Pac Cole Colo S Rail IX B R It G 48 ii S R T Ss Se 00 Erie gen P F TV D C Is T P F Gen Bloc Elec U V P Iowa C Wab lots 1 L N TYni 55 Wab dads M itt K T 88 4 Ms C fI lets M K IC ik T Va Centuries 00 |