New-York tribune., 1894-06-07
SUGAR BARGAIN SEALED.
WALL STREET RUSHES TO BUY THE
STOCK OF THE TRUST.
A SETBACK TO PRICES FOLLOWS AN OPENING
"BooM,-WERE SENATORS REALIZING PROF
INSTRUMENTATION OF TIE FAVoR5
POURED INTO THE LAP or TIE
TAVEMEYER COM
BINATION.

BINATION.
The unholy alliance between thu Sugar Trust ana
the Democratic party In Congress. proved to exist
by the emphatic vote IN the Federal Senate In iaVor
OF the sugar tariff schedule hatched 10y Secretary
Carlisle and the Steering Commttce. was the first
and only feature 70 the stock market yesterday.
In the face of bitter opposition from the best eic
mcnt in the Democratic party, while the seaman o'
speculation still hung dense about the seats OF Ma
tonal Senator's the bargain with the HaVenleyerS
went through and naturally every operator IN wan
Street looked TO share In the market reward In
consequence the Sugar post in the Stock Exchange
was the centre of an eager. expectant group OF
brokers when the gavel OF the chairman iel. bu'
II was like the falling OF the flag in race Wherc
the favorte horse been bloated by copous doses
OF Croton and drugs. In the clamor ana uproAr
that prevailed when dealings began no single price
could be recorded as the opening quotation. 80 the
first prices were bracketed In the Official hs's At
lOs-lO7 against 1868. at Tuesdays close in the mau
rush TO buy that told the story OF how gaInpers
look upon the shameful Sugar deal there doubtless
were thousands of shares poured for the account
OF statesmen who know how to coin DehocId'0
reform promises into cold, hard cash
But there must have been Senatorial faucet
turned on 10 chill the rising enthusiasm oil the "uY
ers who were eager to share IN The ootins oil 'he
country that was promised In the S"naies s1r-
render t. the Sugar Trust Gradually the price sank
T., 10Gas and al the end trivia! net gain OF - per
cent was the stock merkc; record for the S'o'"
| that has been the pet OF Washington nahlpu'""o"'
Sales Of about 5000 shares contributed TO raise 'h'
total transactions at the stock Exchang; to nearly
! $1,000 shares The record IN sugar was less 'hhh
that Of the preylous day. and there is disposition
among speculators to hold aloof from the dynamite
which the Stock Exchanee managers tolerate uhde'
their roof.
| The disg.aceful performance Of the Democratic
| uoNers in sealing the Infamous bargain cN''''1
numerous hostile comments in Wall street h'''
! the mealv mouthcd defence advanced by the iI''''
| Of the Havcmcyer combination lacked the spri' ""'
| enron,ery that biaokmaors sometimes cEP"S'
| The decndcncc OF Wall Stree was shown III tn' IT,
lnctarc. of many men Of standing 20 put IL PRINT
the scaihing criticisms which they Dreathea III pm
vate agairs, the contamination Of Tie "'Hti Con-
| ract made when tn Sugar magnates poured nail 4
million OF dollars into tie corruption iHni ot 'ie '
managers Of the Democratic Presdehudi ''''P''S"
The directors Of the Sugar Trus; yesterday ,,i de-
cared Win ca6fa iba the senac OF the
country Is anxious 10 protect-IH. per cen. % -
I5e'CrI be gnsTer ana Yet soc.hodcr haS held annual
meeting TOR the last hscal year. ana 10 annual iy
por; has been made IN which sonr tn"i tn" ~ ~
gains oi ihr Slsar Trust cAnn9, b. oG ,tays,nsyr mo
nopoly is now deyoting us enerses 20 % %pnn sr he
mand o. the Massachusetts state AUTHORITIES l0 ''o
'''!i' The enormous advantiges voted 10 the sugar
| Trust by the senate being figured up ~ men
| the trade yesterday made up some hsuIrs D'9' a.,
| Ing OIL the question II any error WIS li''tr 49,
| .ns ou; the protection" afforded 10 the IiANe
meyer combine By the tarin ret2rnsts ,nr1g :" ,,S
ssheiuie Is the Imposition of duty Of - per cepi
cent a bound on ali grades above l6 dcggc~s Dutch
| standard Centrifugal sugar. testing - ei',
by the polarscope practically s9str"S ,ne :1.-'
OF an other kinds Of rew sugar ana ,5 ~,
| made tha; grade VII! be a AR t'p's go ~
| OF tho whole question of prohis me ." ~ "
inarke; value y cen'rfngal sugar j. ~ cri's, , (.
pound. The relative ad valoTen ya,,iig 80, o *
! coed 237. cents on which The duiy 0i - per -
H moiN spS,r ne Is eGuvaieni 20 cents pound. he
| c5si Of refining is estimated az ~ ccni Y.I' E >,
Great Britain to g. % cens poun! i4e ~ ap
duty OF - per cent woH.f aino1h' 80, - ,.o,ni
| and 10 cent to the freight en4 insuFsM.e ~ ~
the United states and the amount ot 10, 49, 1aid
| BY the Trust. shown. is - cent - ther tha, sr
| Carlisle schedule IS ga cen; pound against 'N'
| fiat Mckinley duty of I" cent q pou'D , ,.,,r,s 81,
sugar embraced IN the iranFac,9nss ot me S.g"s gr
Trust the advanage of ths aiiiti,r' o,,6',a
| I'm, he senate in goes even firtner fJr by *
ng The date when ne ily on "a" snti ,,,r ,, d,s,
X permitted 10 import free u duty al % i.' Dc,
/ ihe daie when ihe new bee, sugar crop nbr,ll
ieons fo move There !s it'.- doubt that re sugar
| for receiving an The -uglr it could imlor,
should the nefnrious 'S,rntn bitf1a'" itf1" w. ~ san -
he disgracefui scandals that have attended 's pass
pnngent review = the scna,es action was made
| vcsttrlay by Henry Clews ;g part. as ioi"~r. eliza.
| ..Iv,. candid vote 0f yesterday c.etrf SHOWS fAl
| . co1vcr.if,iffy claus. connected with the free
| tad. issue which comes from The fraiiy oi nuiha
| raf,,rc II goes % show that ne bitter ana sour
| Qualities Of man be entirely sGbiurl. IT, n,'
counuere1 f,y awcet treatment sugar IS now inEht
| Ter than N" sword. more I,2t'ntin IN u. %
| than ,he acid u Vinegar lh" sugar We ol -
| ,rr5av kills free trade dead az caesar ana u
,,cb+ rr'. any longer be a terror hanging over the
nIustrlcs Of the country during the present rcfW"
| and mat means the freedom from u FOR q quar-
| ~ a century at least thereafter. There - nothing
now 10 prevent all the manufac turcrs ~ III" cum
| trv starring up on full time. ari Stocking hp WIZ,
| goods ahead they Will soon b. w1ut'"I 70 Il'r'
M. coming demands. II was only a fcw yeaIe si.,
| ~, cntfon was king. II dethrpncd 10 give
| place 10 corn. Corn has me- ~" shne, rate ana
| sugar IS now. not only king. Du' dictator.