New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-07

uLATIoY? - THE BEARS ATTACK
STOCKS IN THE LAST HOUR.
within few minutes after the opening Of the
Stock Exchange yesterday the scene IN the
hoardroon,. where the trading is conducted in
49, stock Of the American Sugar Refining Com
many would have put Bedlam to the blush.
houling mob of brokers almost lifted the roof
q, the building with their shouts of offers TO buy
and sell. and the pushing and crowding around
the Sugar post outrivaled the worst contest on
an unreformed football field. The excitement
was occasioned by one Of the most sensational
episodes in the history Of the manipulation OF
Sugar stock since it was made the looloai OF
s,ecu,ation in the unlisted department of the
Stock Exchange. 1t was another piece OF tesu-
,nonv to the speculative skill of James H. keene,
and II csused at the same time some or the
sbarpest comments that have ever been made
on members of legislative body.
The varying fluctuations in Sugar STOCK nave
for months been inspired by the news sent from
washington as to the probable action Of Con-
rress in arranging the sugar schedule in the
proposed Tariff bill. For days past the source
of inspiration of the speculation has been the
sacret conferences of Democratic Senators who
ore nreparing the report on the Tariff bill as 1t
came from the House of Representatives.. "A
recent advance in the price OF Sugar S'oVh itS
Finance Committee would grant the sugar Iruss %
a substantial protection in arranging the laiilt
schedules. According TO wall street GOSSIP t .he
resources and deXteritY of James k Neehe' ,"e
we'll known stock operator, were called lnto pay
by the "bull' pool in Sugar to utilize to ihe Ut
most the promise of a favorable legislative re-
nnrt To Mir Keene's direction credited the
clever operations which on Monday advanced
sugar stock from SSss to 9O4S9@4
Yesterday the price of Sugar stock opened az W
ond the bears were jubilant when ii sank TO SS
Teayv dealings soon carried the price to w. Ihen
the circus began. on sales or ABOUT 4'VvV
shares the price ran quickly TO H5f4. oaIes ol
so0 shares were made at "a and then the quota
tons jumped like this: 80 so a. w. SS2' w. ''2'
100. 81. -, solos op
os0o shares. orders to cover short" contracts
poured into the Exchange as fast as tclegraph'
telephone and messenger boy could carry i: oh@In;
But the hOOdgates opened the instant pa.
was struck and the price went rolling DOWN 10
s1 almost as fast as it had bounded up. Nlthii
less than two hours the traders IN ous4r i,' l,,a
witnessed rise of u points and following
fan of points. The transactions IN sugar
from 10 to u o'clock exceeded lOOVVo SHd,eS.
The total transactions in this STOCK iD' ne-haif
were nearly 10000 shares. or hearlH ""e-"%I-
the total recorded transactions In all the STOCKS
OF the list. The late afternoon market "ds
more quiet, but Sugar stock closed AT So12' vi
only q per cent above Nohu@S O'9"e
tion 49,, -,. ho .+,a
eeId NAV not be counted. There Were rninors OL
extensive private settlements by pears VIZ VIZ
were panic-stricken at the carry adNailCei ara a,
made terms as they could with tnelr spec9IauSe NV.
opp,,rat;ya enisode one to cause regret was the
Common opinion in Wall Street that the Dts rIse
and the big break had lined the pockets Oh solHe
shrewd National Legislators ,. ,.
,rba General stock market was brought almost
IN a stand by the enormous dealings and excite excite
ment in Sugar Prices receded IN most s'' cdsrs
an the afternoon and closed, as q RUE, DeiVM
Mondays final figures. The pyrotechnics IN the
Sngor crowd made operators afraid OF SPARKS
and falling rockets. The bear faction nus tSa
trasb courage in the afternoon ana raideu i .He
csngers freely and q rumOr sprang INTO ne
that the dividend on Chicago, Milwaukee anu
ST. Paul. which Wall Street had connden''y yr1 en
,ectad n he declared tomorrow, was IN penn.
,,,,or could not be verified. and directors
Of the company refused 10 discuss the topic
pending the formal meeting