New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-14
WALL STREETS BOOM GROWS.
MANHATTAN MAKES FURTHER ADVANCE.
HEAVY TRANSACTIONS AT THE STOCK tx.

HEAVY TRANSACTIONS AT THE STOCK tx.
CuANGr.-wHIsXEY TRUST AGITATION.
Wall Street IL n.ll OF business IN these lively days
OF rapid transit schemIng. Commission houses arc
not complaining of great rush Of trade IRON the OUT
side public: they rather hunger Tor fresh shpPor.
But the political world seems 10 originate a great
stimulus 10 speculation and how far the effects may
be carried no Is willing to tell. Those persons
who might tell won't: those who can't. won't, either
But the sentiment around the Stock Exchange mas
taken a sangline hue that almost stares time CON-
sentative investors food OF stories fills Wall street,
but whether the waters part OF an irresstibe ude
upward or only great bulge OF a wave, that when
IL recedes will leave the beach filed with STRANDED
vrcckswell that question that Is exciting every
one who specuates or might speculate, and every one
who derives profit out Of speculation. or who might
do
The transactions at the Stock Exchange amounted
yesterday 10 than 100000 shares, record that
has exceeded the figures In many weeks More than
onesixth of the days business In the stock OF
the Dis,ing and Cattle Feeding Company. In that
stock there were sales Of nearly 100000 shares ana
In the Of otherwise buoyant market the price
plunged downward per cent. The speculauon
In this security has baed the Street in the determine
don Of Its motives. Rumors have been current that
the conduct Of the stock the result Of dispute
between james r. Keene and s. v. White Both
men have denied that there disagreement between
them, and yet there has been general coll for IN
explanation OF the fact that recently the advance In
Sugar stock was generally accompanied by fail In
Distlng stock. Later Is printed a circular agninss
the "whishey Trust" which may prove to be part Of
bearr programme against the stock.
The general rush OF prices was upward. Man
haitian Railway stock was even in greater demand than
Thursday, nearly 10000 shares being traded In.
further rise OF about per cent was established
without developing fresh to tho plans Of the
Rapid Transit Commission, but confirming the theory
that the Tammany Hall combine has been well
provided with "tps' as to the result Of the decision
OF the Rapid Transit Commissioners so far as that
depended upon the influence OF the city authorities
The market also influenced by the growing con-
vfcon that Grover Cleveland had put his foot down"
on the Silver Purchasing act There Is little dispute
among Wall Street TO the need Of the repeal
Of the socaled Sherman law, and there Is a strong
belief that partisan considerations will not stand In
the way. Every investor or holder Of stock on .
margin Is anxious that this question be settled with
ont regard to political lines.
The fact that gold was engaged for export at
the Sub Treasury helped the buOyant feeling OF the
Street. The only rumors affecting particular stocks
that require notice those In regard TO New
York and New England That stock Jumped m re
than . per cent, and NewYork and Northern rose
nearly per cent. The story ran that there was
likely to be q contest for control at the coming
March meeting OF the New.Ycrk and New England
stockholders When Charles Parsons went inio the
company II believed that he did so with an
earnest purpose TO build up the property Without
regard TO speculative considerations, and his pua.
ton as a shrewd manager brought to him much sup
port from conservative interests The attempt OF the
managers Of the Reading Company to establish
through line TO the wds OF Maine startled the Par
sons interests the realization OF their preaf)us
position The bulls on New England stock now say
that in order to complete his plans President Nc
Leod Of the Reading must strengthen his control OF
fhe tock Parsons
ings In this contest. 1t is argued, New-York and
New.England stock will be stimulated far beyond Its
intrinsic value.
A petition to the governing committee Of the Stock
Exchange has been prepared and Is being circulated
asking them to remove from the STOCK LIST DstnDg
and Cattle Feeding stock on the ground that 1t Is
a frau1u,ent corpration and - ID ns run by the
managers for their own speculative purposes The
petition charges that when the stock was listed in
1889 the investigating committee OF the Exchange
which reported favorably on the application for list
ing either did not investigate the case or was de-
ceved 1t was represented that the corporation con-
roled the whiskey business Of the United States The
trust however sigRers charge. consists OF ninety
bichwine dstieries, about fifty OF which are 80 ~
iapidnted that they valuable only as warehouses,
and n.SSt sa1nsd on cam be made by repre-
sen,ing capital Of S2OOOO0o though me rust y
not more than is per cent Of the product Of the
distilleries Is alcohol and that the rest Is
RRe production Of spurious liquors, being mixed with
poisonous drugs and colorng matter to produce any
nS sS 81 the real nature Of the neous
business would have ABOLISHED IT, the petitioners ,G
oT rs w and Of the Sherman Anti
Trust aw IT., The @ nas SsE say hS Of
country and its stock should not be listed as eooo
American security. ....o,,.oa 20 IN.
governing committee at its next meeting