New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-29
SUGAR, WHISKEY AND TOBA Geo
LIVELY SPECULATION IN WALL STREET.
$. V. WHITE Is SUPPOSED TO HOLD THE KEY
TO THE SITUATION IN THE FIRST
MENTIONED STOCK.

MENTIONED STOCK.
The Stock Exchange was the scene Of Intense OK
element Yesterday around the industrial posts The
interest Of the day divided between the stock ~
the American sugar Refining Company and the Ameri-
can tobacco Company. tn" latter stock was novel
candidate general attention. but the larger interest
was really taken In sugar. The transactions In sugar
stock amounted 10 nearly 10000 shares. ana thc eX-
trcmc range Of fluctuations WIS IL per cent, with
closing trinc below Fridays final figure.
The market for Sugar opened rather quiet. and there
Idea that the squeeze OF The shorts was over
The first quotation Is 81 and after lie 10 1873
there WIS a reaction I3- 81. Announcement was
made before II O'Clock that certain loans Of stock
would not b. renewed. and the result a vigorous
buying movement by the bears that carried the price
10 13, 4. the highest figure record. Then came
the announcement that Henry Alien d CO.. who are
credited with managing the hear side ~ th" campiign
had returned $4,000 shares Of borrowed stock Of which
1000 shares were returned TO :. V. White. who has
been at the head Of the bul pool. In the last half
hour rumor were current that the short Interest had
been settled privately. but simultaneously The bears
tumblcd fresh lines OF shorts. ana the pric" Of
SUGAR went down with rush 10 LIS "a.
Mr. White denied after the close 81 the Ex'hane"
that he had made any private settlements ana n hid
heard Of none. A. Mr.. White controls tn" hoaiing
stock the only settlement possible the rnr Of Ia"
bears would he with tn IIavom"yer who would haN"
10 surrender their Investment holdings 10 accommodate
the short sellers. Mr.. white says that he has II"
stock for sale at any price within twenty points Of
present quotations. and II the bears want 10 buy any
they have the market before them. \ lively time Is
expected In Sugar stock IN the coming week. Mr.
White is believed 10 hold the key OF the situation
The bear campaIgn against sugar was started by the
pool consisting largely OF prominent Western cap
ltnlisis who had been successful In "r.iiing III"
stock Of the Di,tilllng and Cattle Feeding Company
Flushed with success and knowing that Mr. white
acknowledged a loss on his purchases OF Dh'lling'
the bear campaign was Turned against Sugar. So
far, the bears have met success. and to use th'
expressive phrase OF Wall Street OPERATOR they
hadn't time 10 take the numbers OF The banhnoIe'
made IN 'Whiscy' before they Were paid out In sugar
LOSSES" The speculative contest Is said to nave cost
Addison Cammack handsome sum, In spite OF the
stories Friday that he had got out OF the way ol
the "bu engine, The Sugar fight promises t. con
tnue The Western bears bolsting OF posi- mics
OF new rennerics by the and II Is not at all I'M
likely that aid may be sought from Congress artoh
on The sugar tariff. Mr. White was In a calmly con
Gdent mood yesterday. and Wall street Is awaiting
with interest the outcome Of q battle rOyal when may
throw INFO Osctrity the ,ccssful corlcr In Dcia
ware Lackawanna and Western In 1854
There was decided activity in Dislng Stock yes
to-day and symptoms Of fresh contest In tl' quarter
were not lacking: Prices opened AT aaf I'D 1 ,S
Eyc i1 was TANNED down rapidly to a. since
The dissolution Of the old bull pool in DstlllcrS there
hal been M 9@e o. e on the deal are said to be
Dathcng themselves together and perhaps the spec
Iotion i'm this stock may be renewed with purpose
~ side effect upon the contest In sugar. ~.
" Al a meeting OF the "Whskcy Trust held al no
40 Finh-ave. yesterday. il was decided to reduce
the price OF spirits. After the meeting President
The company advanced the price Of spirits on
account OF the speculative demand for It's g0os, IN
duccd nv the agitation OF increase OF the tax NJ
The present session Of Congress etch spccuil.,ve
discussion having ceased the COMPANY at i's merug
today ordered q decrease Of Is cents n gallon IN
tHc price OF spirits. take effect on Monday, January
30" . ,.,o ,,,o.,,o -
The transactions In the new speculative iavortcn
A American Tobacco common yesterday announced 70
lis 100 shares. II the shares had been OF the usual
mar yaue OF 300 instead Of fJ0 share, the record OF
his STOCK would have led that OF any other After
fluctuations from III "a and 116 lo 10 H. the net
final gain was only IL per cent The conservative
hrolers or WaIst shook fhcr heads AT the remarkable
activity I'm this heretofore obscure stock In the TWO
hours OF business yesterday. and suggestions OF wash
ing were universal. The bull party contended thaI
the activity sprang from negotiations well lndcT way
for the acquisition by the company OF several concerns
i'm the tobacco trade hithero Independent OF he Amer
lean Tobacco Company II IS limited that the hand OF
Mr.. White be found here ere long. althonen the
common impression In Wall Street Is thn yesterdays
performance In Tobacco only diversion.