The evening world., 1893-10-25
SUGAR STOCK takes 4 RISE.
This Disposes Of a 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 Gre
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 30 long
that the change is hailed with delight by
every commission house and trader Of
the street.
1t is becoming evident hat the bull
movement Is backed by bankers n
capitalists of unusual prominence. who
probably appreciate the far-reachins ef-
feet of the Vanderbilt purchase Of
Lackawanna better than the general
public.
The sudden drop In Sugar at the close
yesterday from lO4 to so IL. which led to
the circulation OF some senseless rumors
about the standing Of a leading operator.
caused the traders to regard the opening
dealings this morning with considerable
Interest.
The absurdity of the rumors referred
to was shown by the course Of Sugar.
The stock started off at lol. a rise OF
on heavy purchases.
Had private settlements been made. as
reported, 1t would have been a difficult
" DillS aDOul tllo iicCs
The fresh jump In Sugar put the bears
to flight again and speculation became
more active than eyer. The dealing
S Mefe so xeey ma heaIy t%nins Were re eee Isd.
lington & Quincy 1873 to 1858, st. Paul
to s. 81; R9ek Is,Snd ~ tS g IL
! So to 81 7-s, Reading ! 3-s to % 7-S, and
Union Pacific IA to 20.
In the specialties Louisville. New AL
10 IS, and Wheeling & Lake Erie pre-
ferred IA to IS l-8.
London quotations came lower, but
presumably on the turn in silver affairs
at Washington. Although the advance
has been very sharp the commission
Interest still uncovered both here and in
London.
One effect Of the prospect Of uncondi-
tional repeal is a decidedly weaker tone
to the foreign exchanges.
The posted rate for long sterling was
reduced twice this morning. the last
time tG 81 ~ 81. IL, = Demand was lowered
Bankers are drawing more freely, and
1t looks a little like gold im%portations
In the near future.
The, rush to buy stocks continued, and
cording to those In a position to know
the present rise has caught some Of the
brokers short OF their customers stocks.
! ~ ISSCht puhiS ~ ~db Sui
rently reported that brokerage concerns
pinched for money were selling stocks
he'd for the account OF customers. and
that large sales for cash were made at
that time
Western Union distinguished itself BY
runnig up to 80 on manipulation cred
dited to s. V. White. who has largely
instrumental in getting speculation out
OF its rut. The dealings up to noon
were 253, 900 shares. the heaviest total for
Il long time.
Tho Sub-Treasury had a debit balance
at the Clearinghouse to-day OF $s07, 365,
which was liquidated In gold.
Money on call was easy at l 1-2 n 2
per cent.
Bankers. 60-day bills sold as low as
$50 l2 and sight at 4.S3 IA. A further
fractional decline would bring gold from
the other side. At present American
eagles carnot be obtained In London
in any considerable quantities. and SOW
ere'cns do not answer the purpose Of
imrorters as well.
The Loan Committee OF the Clearing
House retired $4,000 certificates. Total
amount outstanding. 1885, 900.