The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-07-30


sharoS thew held long, and In addition sold
, 10000 shares, believed to DO for short interest
But as the Sugar Trust people were FULLY
aware II their game they stood rendy to huy
| in all the Ilollins offerings. In this way the
market was prevented from dropping more
In the last edition Of Mr.. Godkn's paper that
afternoon is an article headed:
SUGAR TRUST DIRECTORS.
Certificate HoLDEHs AGAINST THE TRUSTEES
| PLAN.
WY ne circular orhe 7.i Mo- Atoo,th>r Nee
I'm Idp0r-Sus Nay re brought w Certificate
/ There hal been no opportunity for q concen-
! trnted opinion warranting such headline,
! but mat did not make any difference with tho
| Hon. Larry. for he proceeds 10 say:
The circulars sent out Yesterday by tho trustees OF
ss TEIG 6 sG s IN lie To- Ts
n1 1TSs5 's e, In The s Place speaks of
IA. &sc"ss ma: the sugar I5ps, wa, not oiy HE
aud that its organization i- penal offence.
The remark that there was hostility in the
trust to the proposed reorganization Is plainly
inspired. hut the true Significance Of the arti-
Gle Is shown in this closing paragraph of an in
terview with al unnamed phi anti roplst:
o9g TO be a meeting Of SST,cas hoders e
banking mousr ought 70 be selected as medium end
the end viii be chaos"
Plainly IIollins & Co. were more than ever
determined TO become the banking firm that
was to bring about the reorganization ut per
With Monday. by the efforts OF Hollins & Co..
aided by the Hon. Larry. Sugar Trust cettitl-
Gates were depressed = per cent" 10 "a -: llol-
Inns co. continued their FREQ sales. and there
was sun faint hope EXPRESSED by LAWYER
Auerbach and tho collins crowd that he Sugar
efforts and the attacks OF the Ersnuig Post and
II averee to the per cent idea would compro-
mise on, =, per cent. idea In Mondays
ErcM1tg Post was this headline:
THE SUGAR TRUST.
CAN IT DE REonGASGzED BY It's PRESENT
MANAGERSt
sharp Crtfcfsrr n the circular Etgsd Jv the Trsees-
7hsr Attitude Nennuiced as impudhH.
Following is a column and q half article
m silly interview with the ". aneq beueiactor
OF tho public aud the certificate holders. These
are extracts:
duct OF soe Of thor number INC trustees OF the sugar
roa:erf ask ill., pubic TO permi, them wGou d.
closure or INDIGESTION Of heir plans to 1.sume he lead
pan seems a liti!e TOO i'm p1dent to succeed
matter A receiver having the confidence OF The com
nudity must TO appointed and ptorre!to PROMPTLY
dSon EsftcSts Iodyr. may take oths S G
under tas S Of On O S to 5sH1e
And II tie ceT!ihoate holder. decline do MS q Ipeir
their own interests TO IKE thu inta,,Vs."
It themselves and the community to give al
he!ipcs e Hny o sa. P' not act ,ps.p.na.uv
them be eOmpeoi 70 do SO lie st,ckEIshA3Ee in
Company lu,d ppm X, d,p;a r ess shGrss amder the
proposal " this rO!unt,cr committee
The italics are the Erening Posrs or those
Of the gentleman VINO interviewed himself.
The merest infant IN Wall street matters can
friends are outraged at what they call an i'm
pudent plan. OF tho sugar directors. They
cents worth of interest in the Sugar Trust en-
lowed with an ounce OF common sense. would
demand the aproinltmenf Of reS T Tor the
Is there, 1t Is intact, ard the expenses OF n ro-
celver for such an enterprise would far exceed
point comes in on the Hon. Larry when these
hidden beuetactors OF the certificate holders
and to their own interest to take the iuitia-
tive" They 90 still further They make this
Lot it the Stock Exchanged refuse to list
any negotiable certificates OF any trust com
pany issued upon the depQslt OF these shares
nttee" speaking OF the Sugar Trust circulars
issued by the directors.
This means nothing moro nor less than that
IL Holins y Co. cannot conduct the rcorganiza-
ton OF the Suga: Trust the Central Trust Com
pany must not But llot.ins Il Co.. not satisfied
with the news article, condemnatory OF the SUI
gar Trust eople easily prevailed upon the Hon.
Larry to give them an editorial over column
II Il. Larry's best style and in strict conso-
nance with the short sales OF Sugar Trust GER
scare the csrticate holders out Of their Boots
Now and then there is q line or two which
clearly iutimates that as Rollins 4 90. have
been ioiled In their Der cent. idea tho best
thing to do is to get out OF the stock altogether
All this time the sugar Trust directors and
their friends were watching Hollins Il Co. on
the New York Stock Exchange They had
Submitted plan Tor the reorganization Of the
Trust to Gen. Roger A. Pryor. who was asso-
ella ell with AttOruey-General Tabor in the
prosecution OF the Trust. Hollins It Co. con-
timed 20 sell the stock short At the very time |
that Gen. Pryor informed the Sugar Trust di- |
rector- that the plans submitted to him full |
filed all the conditions OF ths law HOlltus 81 |
Go. continued to sell the stock short. While !
the Sugar Trust directors were negotiating ,
with eminent bankers to carry through this |
plan on the basis OF One-half per cent. |
on the capital stock Of tj0OOO0OO. HoliinS !
x Co. continued. not knowing OF the uegotia- |
tions to sell short Perhaps it would sound |
to say thar these negotiations !
were a good way along when llOllius 4 Co. and /
the Ersnuy Pest were banging away at the /
stock on Monday afternoon. Perhaps it will |
10 unpleasant to recall to lIollins " 60. and |
their 3 uer cent. friends and the Hon. !
Larry at the same time. that tho sugar Trust |
directors AID their intimate friends knowing !
tho situation. made II vary hot for the IioIins |
mob on the Stock Exchange Yesterday. Sugar !
Trust certificates oIened ut "A. There was a |
drop OF a quarter and then the llollns party
felt II stiliness the beginning OF cyclone |
With shorts out anywhere from 10000 20 3D. |
BOO shares they saw Sugar Trust certificates |
boom and boom until n = was reached ut |
D clock, and great was the loss thereof 10
Rollins and his per cent. idea.