Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-01
SUGAR TRUST SPECULATION
How Congressional Discussion May Be
Used to Influence the Market.
An Attempt to Pass a Free Sugar Bill
Would Reopen the Entire
Tariff Question.

One Of the greatest Of the Wall street
operators, who is in close touch with the
dealings of the street, said recently to a
friend, with whom he was having a con-
ference as to the speculations which might
be expected in sugar trust securities that
would be effected by legislation or attempt
ed legislation at Washington this winter:
THE session of Congress will be a short
one, but it will be a very important one in
the markets, and the probability Is that
the aggregate of the operations will be
hardly less than they were at the last ses-
sicn."
A Senatorial Conference.
The season seems to have begun early.
Those whose duty was to watch the move
ments Of the sugar trust forces here during
the last session have not failed to observe
that three members Of the United States
Senate-Gorman Of Maryland, Brice Of
Ohio and New York and Smith of New
Jersey-whose names a few months ago
were very frequently connected with the
legislation IN Congress which affected the
sugar trust, have been spending much time
in New York city. They have been report
ed holding a very secret conference
there, and, singularly enough, this confer
ence is said to have had relations to leGis-
lation which might affect the sugar trust
securities. The action taken at this confer
ence is said to have been of a character
which, II 1t can be incorporated into law,
would have a depressing effect upon the
securities of the sugar trust. Directly af-
ter this conference, a bear movement was
inaugurated by the president of the sugar
trust, and the great refner3es were closed
down. The result was that sugar trust
stock fell some points.
A Conference Last Winter.
1t will be remembered that there was a
conference at the house of Senator Brice
in this city last winter, which was attend
ed by the three Senators who have recently
been in New York city in conference. At
both of these conferences the subject under
discussion is said to have been legislation
which might affect sugar, trust securities.
AS the result of the conference at Senator
Brices house last winter sugar trust GER
tificates advanced continuously thirty
points. And Mr.. Terrell. very audacious
operator, did not tell the sugar trust in
vestgating committee Qf he was ever
asked) at what price he purchased. or in
whose interest he sold. the vast block of
sugar trust securities which 1t must have
required a quarter of a million dollars 10
carry, and the profits Of which, If the
operation was judiciously, conducted, as it
undoubtedly under such advantageous cir
cumstances was, could not have been less
than 100000.
Campaign begun Early.
The events of the last few days seem to
confirm the accuracy of the remarks of the
noted broker first above quoted to his
friends as to the probable activity of the
market in sugar trust certificates in con-
sequence Of attempted legislation here this
winter. The campaign appears to have be-
gun early. To a man who knows what the
managers of the sugar trust intend to do.
as to anything connected with their vast
interests, 1t does not matter. Wall street
men say, whether the stock goes down or
up. Previous knowledge. of such a move
ment guarantees success in any operation.
Those who look at things from worldly
point Of view will not have failed to notice
that the Senators who have just been con-
ferring in New York as to sugar trust
legislation are the same Senators who con-
suited as to the same subject at Senator
Brices house last winter. In the latter
instance sugar trust securities advanced
thirty points, and somebody made money.
In the former instance. sugar trust GER
tificates were depressed, and doubtless
somebody made money! however sad a
Thanksgiving it may have been for the
$4,000 operatives of the sugar trust re-
fineries. of whose wages the sugar trust
managers have made holocaust.
No LikeIifood Of Passing IL Bill.
The attempt to pass a Dill for free sugar
would be contrary to the policy that there
must be a rest from tariff agitation. 1t
will not be possible even to discuss the
measure to put sugar on the free list with
out reopening the entire tariff question, or
without at the same time discussing the
proposition to restore the bounty upon
sugar. The latter would be germane to the
former. The entire tariff question would be
germane to both, and the session of Con-
gress SO far as the Senate is concerned,
could be entirely devoted to the discussion
of the tariff question, With the prospect of
putting sugar on the free hist But the dis
cussion may serve to make the sugar trust
securities the foot ball OF Wall street specu-
lations, and in this why the purpose Of
those who promoted the discussion may be
accomplished. %r