New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-09
SUGAR STILL TUMBLING.
TIL, TARIFF SCHEDULE NOT CONSIDERED
FAVORABLE TO THE TRUST

ENORMOUS DEALINGS IN THE sToCK-THE REST
or THE MARKET Says IN SYMPATHY WITH
THE pECIINE-MANY OF TIE TRADES
SAID TO IN OK MATCHED ORDERS.
,rto stock Exchange yesterday had a further
.s,e If the "bitter-swect' of the manipulation in
,ho stock of the American Sugar Refining Company.
C,l, on Tuesday the price of this stock went TO 100,
,d transactions ran up to about 10000 shares.
Yesterday the transactions amounted to about
ia NO shares-a record that has often in dull times
included dealings in every stock on the list In
s,ito Of these enormous transactions the movement
If prices was less sensational than on Tuesday. Ii
Uas none TIE less important and decisive. The olel-
ing was wild. and buyers and sellers were so far
apar in the struggling crowd Of brokers that the
official figures of the Stock Exchange were given at
Of 10 90 The highest price was the best OF the day
and there WAS 4 rapid decline 10 9la.. y rally to
a. followed. bat for the rest OF the day there
n steady outpoLring of stock which carried the
quotations to SisNS1"-, net loss of C's Pc" cent
from Wednesday night. The lowest price of Sugar
sock-S7i. showed net loss from Tuesdays best
price Of IA. per cent. but gain Of about 10 per
cent from the break OF few weeks ago. The
extent of the speculation this week in Sugar has
almost appalled, the conservative brokers Of Wall
street II is considered fortunate for the sovency
Of many concerns that an immense part of the
ported dealings is believed to consist Of washes.
or matched orders. which are forbidden by the
rules of the Stool. Exchange. The energy which the
Governors of the Exchange eXpend on suppressing
the so-callod arbtrage business in stocks between
New-York. Philadelphia and Boston has never been
directed toward suppressing manipulation against
which many protests have been privately uttered
by conservative men in the street.
The prominence of Sugar speculation renders 1t
impossible to "siGe-track' Wall street talk about
the connection between the dealings At the Stock
Exchange and the news that has come from Wash
ington while the Democratic subcommittee Of the
Senate Finance Committee has been struggling 10
put the Tariff bill into shape for Il report - the
Wall Street yesterday asked why. when Senators
Ell connection with stock speculation. other Sona-
in their seats. The experiences since November,
1872 have told to investors the story of the mposs
biAy OF mixing pr9il'abi" investment ana success
full business with Democratic Administration. But
the record of this week proves that most de-
Democratic legislators sit in secret concave on
measures which may affect the well-being ana even
the existence Of thousands Of Woodworking wage
earners
Sugar Trust. had FASTENED 10 New-York late
mittee Of the Senate Finance Committee in
RS pocket. The decision of the sub-commit
until the Stock EXCHANGE had opened 10 afford
opportunity for operations based on the principle Of
was not at his Office Yesterday. according To the
statement made by the man in charge and James f..
IN the salesroOm Of the Sugar Trust the sugar
cheiue of the Senate subcommittee was not com
mented upon faVOrab,y. The schedule Is prepared
on such technical lines that but an expert in
The sugar trade can figure out its practical result
Sugar men said that the schedule gave protection
70 the refner Of no more than One-eighth cent
pound. an amount that declared TO be in
sufficient TO defeat the competition Of the German
sugar refnors. Some estimates of the amount Of
protection were even lower than this figure hut
there only opinion to the dissatisfaction
of the Havemeyer interest with the net result or
the hard labor that has been expended at Washing
ton in the last few weeks 10 secure for the Sugar
Trust the recognition in legislation which 1t was
entitled to by reason Of its reputed large cOntri
buttons to the Democratic campaign fund In the bat
tie Of 1892
by the heavy break in Sugar and railway stocks
closed lower in spite Of the declaration OF the
regular dividend on the common stock Of the Chi
cago Milwaukee and 81. Paul Railway.