The evening world., 1894-05-08
BIG SLUMP IN SUGAR.
Prize Knocked Down by Those in
the Ring"
s.Iss Of Over $1,000 Shares Re-
corded in the First Hour.
subsequently There Was q Rally
and the Price Went Up.

Sugar furnished the sensdtioH VI the
uornins at the Stock Exchange. The
dealings in it were on an enormous
.cale and for a time exceeded those In
sl other stocks combined.
THOSE identified with the Trust pre-
,.nIei to be dissatisfied with the tariff
.chedule drawn in its Interest, and to
foster this Idea n sharp onslaught was
made upon the shares.
Under a perfect avalanche Of offerings,
tbre. points we're knocked of the price
N n few minutes. and many unfortu-
mates were forced to get out by the
rapid wiping out OF margins.
The lowest figure touched was 1903 IA.
but around this price buying orders
appeared in sufficient amount to turn
the tide, and a rally to 1G5 ensued.
The trading in Sugar during the first
hour exceeded $1,000 shares.
Undoubtedly some selling was done
because OF the Breckenridge amendment
in the House yesterday, as this Is ac-
ceptei as meaning n sharp fight in
that body II the sugar schedule comes
before II in its present shape.
The general market stood up remark
ably well under the break in Sugar.
yielding only 1-S to ga, the latter for
General Electric, which sold down to 81.
All stocks the bears cared to sell were
readily absorbed. and a rally quickly
took place.
was a great surprise to the shorts. who
Seem to be utterly unable to bring out
long stock.
II operators only knew when tariff
agitation would stop. there Is little doubt
that they would advance the market at
least until the short interest was elimi-
mated.
So far as Sugar Is concerned the in
siders have everything to gain and moth
ing to lose. They can play a safe game
80 long as they can get earlier and more
reliable information from Washington
han any one else.
st. Paul sold only 1-S below last night,
although Il i. known that the company
has disposed of 2 1000. 900 general mort
gage 4 per cent. bonds. which have been
in it's treasury since the organization.
The bears made a mistake in giving
pany intended to make a brand new issue
of bonds. The sale Just made is no sur
prise, 1t no ving been understood that the
bonds would be disposed Of whenever the
situation warranted 1t. st. Paul later
rose from 60 rs to 81 3-S.
Rstiilers advanced l-2. to %; Atchison
IL. to Il SIS: General Electric H.. to
81 souri pa ndfe IL sao to 80 - % New lew York c ce
trail l-2, to 50 IA. and Burlington &
Quincy l-2. to 70. Lead sold at 80 6-S q
Money ] per cent on call, and l-2 to
3 or time. Foreign exchange is quite
and firm at AIS IA a LIS IL for bankers
sixty-days, n ass "a a 4.S9 for demand
light. II is uncertain whether any GOLD
Will go forward to Europe tomorrow.
Commercial bar silver sold at GO "a anG
Mexican dollars at II Il. Bar silver ir
The stock market. relapsed into dull
ness after midday. but speculation de-
veloped increased strength. and on com
paratively light offerings prices made a
Sugar, St. Paul, Burlington and Dis,
tillers. The n~rst-named was a notable
exec ption, selling down to about To-
under a heavy pressure to sell.
There was n fair borrowing deman,
FOR stocks. Lead commanded l-Gi pre-
MUM. AMI Northern Pacific preferre,
and Louisville & Nashville l-256. West
Stocks closed dull and easier. Genera
Electric declined lis per cent. an
Sugar reacted from lGj rs to lOi rs. Chi
caso was a seller of stocks and report
were current that n big Western grail
house was In difficulties.
1t is noteworthy that n new low recor,
was made for whaet at Chicago to-day
Kuhn. Loeb & Co.. may ship $500, o.
gold by the N~ormannia, sailing o
Thursday next.
u. & W. Seligman e. Co. will shi,
E25 900 ounces Of silver: Heidelbach, lex
ntheimer IL Co.. 40 600 ounces: Nesslsge
Ngate & Co.. 30. 600 ounces, and Zim
herman & Forshay. $1,000 ounces an
n 900 Mexican dollars. all on the steam
90 prov.
ahfhe sales OF listed stocks were POI 81
ares. In the unlisted department liz
~ shares Of Sugar and 200 Lead wer
AIDED in.