The evening world., 1893-11-27
BIC DROP IN TRUST STOCKS.
Sugar, Whiskey and Gas Pounded
by Bears.
The Dealings on Change Attended
with Great Excitement.

The publication OF the new sugar
schedule by the Ways and Means Com
mittee led to the liveliest opening at the
Stock Exchange witnessed for some
time. The agreement reached by the
Committee lowers the duty on refined
sugar from l-2c. to lac. per pound. and
raws remain free OF tax.
This, of course, was construed as un-
favorable to the Trust, and there was a
great pressure to sell the stock, which
broke 3 5-S, to 50 "a
Even after rallying to 90 IA there was
no let up in the selling movement, and
the price dropped to 81 S-4. The dealings
considerable excitement.
Whiskey declined 3 3-4 to 26 1-2 be-
cause advices from Washington indicate
only small additional tax on distilled
spirits. a rally to Is occurred on COW
crinS OF shorts.
Chicago Gas, in sympathy with the
other industrials, fen or IL to 60 81.
and General Electric 3-4 to 81 3-S
The general list held remarkably firm
and even advanced. the Improvement
ranging from l-0 to "a per cent, There
v WaS S dioo no reaStion to speak OF until about
In Sugar started selling movement In
the railways.
Burlington & Quincy receded from
81 is to 81 l-2, Rock Island from 20 SIS t.
Northwest from lO6 81 to lO6 is ex-
dividend. Western Union from % rs to
so Is, and Reading from - 3-S to u 81.
The rumors that II firm with East In
dian and Persian connections is in ditti-
culties cablcd from London yesterday
are not credited. The fact that the
morning tends to confirm the belief that
the rumors were started for stock job
bling purposes.
Steamship Seneca from Havana this
itvh ernl ui.v,,. 4
to Muller, Schall & Co
The Ways and Means Committee 8
recommendations in regard to tariff re-
vision continued to be the leading IL not
the only theme OF discussion in financial
circles. The proposed reduction in the
duty on refined sugar naturally received
most attention in Wall street. and opin-
ions varied greatly as to the probable
effect upon the profits of the Trust. The
bulls claim that while profits will OF
course be reduced the dividends Will not
be endangered. on the other hand, NIL
lett O. Gray say, the Sugar Refining Com
pany cannot by any possibility con-
tinue the present dividends on the stocks
under the reduced protection.
An official OF the American Sugar Com
pany says. The proposed tariff, II 1t
were to pass, would be disastrous to the
American sugar refners for the reason,
In the first place. that the German Gov
q l-2 cents per 100 pounds on granuated
sugar exported"
The, pressure to sell Sugar stock con-
tinued and the price declined to Sc SIS
General Electric was also heavy and
touched 36 L. and the general market
weakened, but on a reduced volume OF
business.
Money lent at / 1-2 per cent on call
and at to 4 1-2 for 60 days to one
year. Prime mercantile paper was dis
counted at 5 l-2 per cent.
Foreign exchange was quiet and
steady Posted rates unchanged at
4.S' l-2 4.S6 l-2. Bankers long sterling
4S5 IA 4 S. 81. The inquiry for bills
was comparatlve.y light.
The Sub-Treasury had a debit balance
at the Clearing House to-day of $4l2, ,0GO.
which was liqudated in gold.