The Washington times., 1894-05-10
SUGAR STILL IN THB LEAD.
The Stock Market Presented No New OF


The Stock Market Presented No New or
Especial Features Yesterday.
NEW YORK, May 9.-The chief interest In the
stock exchange to-day was centered in sugar.
Distilling, General Electric, Chicago. Burlington
and Quincy and St Paul lead was moderately
active but the rest Of the list was intensely dull
The shares named are given In order Of activity,
which places Sugar in the lead. This usually
mercuriaI property was exceptionally steady
to-day After loss Of 11S at the opening on .
heavy pressure to sell. the fluctuations during
the rest OF day were confined within q one per
cent limit
The break was evidently feint on the part
OF the sugar pool TO induce the bears to in-
crease the short interest, for 1t was followed by
offerings of small lots by pool brokers. tho full
decline being made on sales OF only about l,o0V
shares. Some OF the shorts began to cover at
the decline and their purchases caused rally
of ss per cent. Renewed selling caused reac.
tion Of %, which was followed by a recovery OF
per cent, Of which " was lost In the mai trad
ing, making decline of On the day; the pre-
ferred lost 1k A large block Of Distilling
was placed on the market for sale, and there be-
ing ing no supporting orders the stock broke l1s 10
NO depressing rumOrs were current to ac-
count for the sales, but there was no particular
desire on the part of any one TO buy the stock,
and the closing price was within "A Of the lowest
point touched. General Electric opened B
higher and then ssgged OF gradually on steady
SeIints until u ueciifle Oi At9 uuu Ucou fccofucu
The sales were believed to be Of long stock, and
in the absence of anything tangible to account
therefor the old story of an opposition COM
pany cutting into the General Electric was re-
newed There was some buying Of the shares
In the late dealings, and closing prices was rs
above the lowest.
Reports of rate cutting and the decline In
wheat affected the grangers unfayorably, and
there were selling orders from the West based
presumably on these conditions. Burlington
and Quincy also sold by Boston on a revival
Df .rtt,. fnf,.b in - a
dend rate. The decline on the day, however,
only ranged from Il to u, the latter Northwest.
National Lead fell of ! u in the morning trading
ON sales OF stock acquired In the belief that
dividend was to be declared, rumor to that
effect having been circulated some days ago A
rally OF ~ was made in the late transactions.
New York Central declined IL, none OF which
was recovered. One hundred shares were sold,
seller GO, ut III below the current quotation.
Minneapolis and St Louis preferred and Metro
rolitan Traction declined Per cent each, while
Pullman rose IL and Interior Conduit 23s. In
the rest of the market the speculation was dull
and the changes Oh the day merely fractional
The market closed fairly steady
The bond market was firm on small busi-
ness, the principal changes being: Advances
Louisiana and Missouri River frsts, ~; Chicago
St p. II. Il ID. seyens, and Peoples Gas OF
Chicago frsts, each per cent
Dcclines-St Louis and San Francisco seconds,
class c, 3; do, class b., and Wabash debentures,
series Il. each 1l1; Northern Pacific seconds,
9. and Kanawha and Michigan fours, per cent;
Tennessee Coal and Iron, Tennessee Division,
frsts sold at s2, against S5N on April IL; baiti-
more and Ohio Southwestern income hrsts,
series A, sold at 25ls, against 2s19 on April l.