The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-09
SUGAR POOL GOLLApSES.
Irs MANAGERS MISS 1HETR PROFITS
AND ARE FEkLIEs VERY soRE

vv,-.. 20 ws-ni-ss,r we~sss an Risht.
m, ~. Rrshsr- vac shs-,s nave Un-
loaded the Ls.s s,eet for che rsoi Fsiied
a. Co--.st-HI.tsry OF O-e More CAS-
NJ. on the Dotnx- Of = Legislative Bosy.
The severe decline IN Am ericsn sugsr REIN
,,s certificates on the New York Stock Ex-
.b.nce Yesterday. accompanied by violsnt
foundations, marked, In thu general opinion.
,hs collapse Of q bull POOL which was formed .
Ii,,ls over a month ago, or Just about the time
that the Wilson bill passed the House Of Rep
r.s.utstlves The Wilson bill was passed in
an. House on the night Of Feb. ]. and put sugar
on the free list. For week or more before
hat there had been tmid and hating spec
nlstion In sugar certificates on the Stock Ex-
change. based upon the expectation that at
an. Last MON emit the Wilson tariff tinkerers
you'd put a duty on sugar and thus Aid the
American sugar Refining Company. The
ejaculation at this time however. was con-
ep,d to outsiders and brokers, whose sources
of direct information from Washington were
not Trustworthy. II will be observed. how
aver in the table OF prices and sales OF sugar
c.rtineates herewith printed. that at the last
moment on the afternoon OF Feb. Wall
.,,..t got word from Washington that the
Tariff bill was to be passed with rush. and
sus,r certificates were smashed down to 75H.
with the Wilson bill turned over to the Sem
ate. speculation in sugar certificates was re-
yivsd on the stock Exchange, The first steps
10 organize bull pool were taken. The cam
paiep for higher prices was begun. as the be-
Lief that the senate Finance Committee and its
,ub. com mittee would follow President Cisve-
lands lines that q substantial duty should be
nut on foreign sugars. Statesmen fresh from
washington declared that Prot Wilson and
others In charge Of the Tariff bin had not con-
suited with the President for q week or more
tsst the President was out and out for duty
Of / cent or - cents on all foreign sugars.
The bull sS.t ss wSb Ss
TITS is exceedingly dificult to ascertain just
s TST Tsre ns out sS U ton
the Stock Exchange will declare that the head
s IL ass ons t1o 10
be authorities IN such matters. have belieye all
along that James X keeno was the chief man
DAY that the Havemeyers and others satisfied
themselves that this story concerning Mr..
"as asserted that The Have%eysfs after the
s A:ias Mr. kssne and assured him that any
sehsduis would be iii-advised and q serious
to che Fl III
il Is said. were assured BY Mr. Keene that Il
VA. little late In the day to warn him AGAINST
pendent for success upon legislation. either at
Washington: or Albany. or ihicsso In 0tn ,f5
. bird to take chances with legislators. and
MI. Keens has as direct and sure sources Of
Information in Washington as any operator IN
almost every member Of the United States
Senate. He 10 especially familiar with the
Although Moore 4 schley are credited with
very general Testimony Of brokers on the Stock
firm has not given direct orosrs on the Ex-
change. This course. however, is customary
dozens. OF brokers'. and are seldom
personally prominent.
With almost a positive understanding that q
man.. woman. and child In W all street laid
pipe to get arst Information as to the possible
the biggest brokers in Wall street visited
osSe the .Ss
In Washington. and paid them
fss 81 'y Ss assass a.
nxhS OF the Senators themselves were alive
e The Of the And
Of the stock Exchange very frequently In the
= The table Of prices and sales will indicat.
dependent upon gton Information: On
diY
President Clevsland's wish concerning the.
duty OF, sugar. ON other days the Information
Goads S. and Fussds1 d this week the mana an
gers OF the pool were convinced that
S.;y sy TSs :: sr t Sa f0 maize.
sdS.ntass q the latest II iormation and lIaai.
on Tuesday will long be memorable. In view
o. the faets which came out yesterday. On
and closed At poh after " a most exciting day.
with sales OF 167.7O0 shares. On Wednesday
there was an equally exciting day. Ar a. the In
eject that the Democratic Senators would put
> liberal duty on foreign sugars. The con-
: little before o." noon. wRsa the eo%%istss:
reeommsndations on sugar duties were wired
Il requires an expert to figure out exactly
Just how much the American Sugar Refining
COMPANY 10 protected by these reeommenda-
not walt for any opinions on that ma tier. They
believed that Il Was All up with them and
Vas sms.ss ap SSw 0Ssr from % To- sd edssS
at 81 to BIZ. with sales Of 10000 shares
The brokers and their friends then began to
n % .tress for
as to lust how the Senate Committees recon-
psndatiOns would Affect. their product. The
Of the company believed that their product
m endstions only 1-l6 to : OF one cent .
pound on refined. In other words. persons
Identified with the American Sugar Rehning
omp any. and who are known as experts In
nknrss on this subject. said that the sugar |
.sIlh schedule as reported from WASH |
10 Eton Afforded no protection worth speak |
Ing o. being equivalent to about l.11 |
Or or scarcely equal to the German Goysrnmsnt
oo9ntJ on the beet root product. Besides. they |
55aadsd the bill does not take effect until June I
81. oy which time all Of this years crop will |
nsse been imported. and the Govern msnt will
aeiHs no income from 1t during the present |
IeAI, some Of the sugar people profsss to be-
nsss that the bill will not 20 through with the |
present. schedule, and that protest will DO |
pp1ae. However that may De. 1t was currently |
Dsns'ee mat the sugar pool has burst wide
nAJ De- are not In honey and clover. Woeri- |
sn9Msr Co, In sizing up the situation. said:
M. ihe marx OF has been excited and mixed. |
ne transactions have been on an enormous /
ssseAs the sales during the tlIst two hours OF |
snhsl DAY aggregating 10000 shares The |
nsuIes 10 the sugar schedule. as reported to-
aaay 70 the Senate Finance Committee. were at /
~ nfst considered as including little dfscrlm-
lnstlen In favor OF refined. but on closer ex-
asinihAuon it was concluded as disappointing |
~ lns renners. The principal selling was |
.Lsesd 10 houses with Washington wires The |
sro,st feature about this sugar speculation IL
enei u Is based on legislative Ru0Sses and the |