The Washington times., 1894-10-04
SUGAR SHORTS ON THE RUN
The Stock Opens Off and Then Makes
aSpectacular Rise.
MANIPULATIoNs OF INSIDERS
Transactions in Sugar Exceeded Other Sales
by Several Thousands-The European
War Scare Makes Small Ripple in Wall
Street-Railroad Securities Hold Steady.

NEW YORK, Oct. s.-Again to-day sugar
was the leading feature Of the Stock Exchange
speculation, the sales OF the stock reaching
the heavy total of 200 shares, which ex-
ceeds the combined transactions in all the
other stocks dealt in by several thousands.
After an opening break Of g per cent.
sugar came into good buying demand for the
short interest and rose 25I per cent. to a511-
The free supply of stock offering suddenly
checked the upward movement and bear
demonstration was made which sent the price
back to s3%. The depression was but tenn
porary. and report that an inside interest
had decided TO support the stock until some
of the present short interest had been shaken
out seemed TO be verified in the strong buy
ing which took place, sending the stock up
to S675.
The high figures induced another drive,
which resulted in A loss OF 21s per cent, the
shares touching 8314 and at the close rally
ing to S3%, being gain of "a on the day;
Sugar preferred advanced per cent. There
were no developments 10 account Tor the
heavy trading in the shares, and the street
was without news affecting the trust so that
il is not unlikely that insiders are engaged IN
a game of manipulation, which may be under
SLOOu dILer It - ~ a hLioh
Purchases to cover short contracts in Chi
cago Gas sent that stock up q per cent in the
early trading. but some large orders to sell at
the market price brought about a reaction,
which was helped along by the bear traders,
and break of D. per cent. was effected be-
fore II o'clock At this point fresh covering
caused a rally Of 1@E per cent, OF which = per
cent. mad been lost at the close, the net de-
cline being q per cent. The rest OF the in
dustrial group was comparatively neglected
and moved within narrow limits. Rubber on
sales of 100 shares declined IL. Lead is down
per cent and Cordage q while Distilling
is 4 higher and General Electric unchanged,
the latter having lost and recovered Is per
cent.
The railway list was depressed at the open
ing by the selling movement IN American
securities on the London stock exchange due
to reports of strained relations between Eng
land and France over the Madagascar ques-
ton. Ii did not take long however, 10 dis
cover that there was nothing in this war
scare. and the market look On trmer tone,
the early declines being recovered, and In
most cases higher range OF values being
established. When the heavy break came In
| sugar, the general list reacted IN sympathy,
/ but quickly rallied.
During the afternoon the trading was light
| and the movement irregular, the tendency
being rather toward lower figures. In the
! late dealings a slightly better tone prevailed,
| and the market closed barely steady. De-
/ clines have been made OF per cent. in Della
ware Hudson, Pittsburg, c.. C. x st. Louis
and American Cable, IL in Erie preferred
and Manhattan, II in Baltimore Ohio and
| 8 per cent ID Louisville and New Albany pre-
| ferred.
| In the Grangers ST. Paul and Northwest
| are unchanged. Rock Island is down 1S and
Burlington Il Quincy is 4 higher. Some few
| shares have made gains of a fraction, and
Lake Shore and Long Island Traction have
risen per cent.