The evening world., 1893-10-25
SUGAR STOCK takes 4 RISE.
This Disposes Of q Rumor Affect
ing a Brokers' Standing.
Prospects Of Repeal Bring New
Life to Wall Street.

Wall street is still feeling the effect OF
the latest coal deal. the buoyancy ere
ated by which has been increased by the
prospects OF unconditional repeal Of the
Sherman Silver law.
The markets are active and even ex-
cited. Business has been dull 80 long
that the change Is hailed with delight by
every commission house and trader on
the street.
1t is becoming evident that the bull
movement Ia backed by bankers and
capitalists OF unusual prominence. who
probably appreciate the far-reaching ef.
feet OF the Vanderbilt purchase OF
Lackawanna better than the general
public.
The sudden drop In Sugar at the close
yesterday from 1O4 to 80 1-2. which led to
the circulation of some senseless rumors
about the standing Of leading operator.
caused the traders to regard the opening
dealings this morning with considerable
interest.
Tie absurdlty of the rumors referred
to was shown by the course OF Sugar;
The stock started off at lol. rise Of
l l-2 per cent. and soon jumped to 1o4
on heavy purchases.
Had private settlements been made. as
to BRING nbout This rse
The fresh jump In Sugar put the bears
to flight again and speculation became
more active than eyer: The dealing.
and some material gains were recorded
Western Union rose to IS H. Bur;
lington g. Quincy 1873 to Si5-S. st. Pau
! to 6$S; Rock Island H. to Ssi-4
15.s to 81 1;s. Reading s-s to 227-s' and
In the specialties Louisville. New Al.
% s ss, and n1Sass Whee.lns Rf & Lake Erie - pre- e
ferred ia to IS is.
London quotations came lower, but
the foreigners afterwards bought freely
presumably on the turn In silver affair.
at Washington. Although the advance
has heen very sharp the commission
houses claim that there Is a heavy shor
interest still uncovered both here and ir
One effect Of the prospect Of uncondl
tional repeal Is decidedly weaker tone
to the foreign exchanges.
reduced twice this morning, the las,
from t.s4 ia to 4.s.
Ban kers are drawing more freely. and
In the near future.
The rush to buy stocks continued. and
the shorts had to pay the penalty. Ac'
cording to those In a position to know
brokers short Of their customers stocks
During the recent panic 1t was cur
rently reported that brokerage concerns
pinched for money were selling stock.
held for the account Of customers. and
that large sales for cash were made a,
that time
Western Union distinguished itself by
runnig up to 80 on manipulation, cred.
dited to 8. ". White. who has largely
instrumental in getting speculation out
OF its rut. The dealings up to noon
were 263,0OO shares. the heaviest total for
n long time.
Tho Sub-Treasury had a debit balance
at the Clearing House to-day OF $s07. .365
which was liquidated In gold.
Money on call was easy at l-2
per cent
Psnkers' 6O-day bills sold as low as
$50 l-2 and sight at 4S3 IA. A further
fractional decline would bring gold from
tn. other side. At present American
eagles cannot b. obtained I'm London
in any considerable quantities. and SOW
ere'Cns do not answer the purpose Of
importers as well.
The Loan Committee OF the Clearing
House retired $500 certificates. Total
amount outstanding. 81 .sO5, 900.