New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-08
SATURDAY, |
deem Der 8. 1894.
HEAVY TRADING IN SUGAR
THE STOCK AGAIN FURNISHES o'@'s
HALF THE TOTAL BUSINESS.

NO STATEMENT GIVEN OUT By THE TRUST IDo
TERDAY-APPROvAL OF THE SUGGESTION
THAT ITS SECURITIES SHOULD BE
RULED OFF THE BOARDS OF
THE STOCK EXCHANGE.
The course of Sugar In the stock market yestsfs
day verifes the assertion made in The Tribune tnee
the hackers of the Sugar Trust will try to force
the price above par again. Yesterdays ao'a"c'
was said to be due to the action OF the Democrauc
Senate caucus in opposition 10 any more tarnA
legislation.
The stock broke the record the Exchange m
the number Of shares traded in for the first hour
more than So 600 shares changing hands. while the
total number for the day was l93.Sl Inc excite
ment attending the transactions In THIS STOCK was
greater than the previous day; and aithousn
there was better feeling in the rest OF the hst
and more activity in the trading. the sales OF
Sugar amounted more tnan half OF the oays
total business
NO STATEMENT.
The Sugar magnates who work the market from
the lower end of Wall Street did not give out tner
promised statement to the stockholders yesterday.
and the Street now believes that they never mao
any intention OF making statement Out hope"
by their announcement to manipulate the STOCK.
The suggestions In The Tribune yesterday that
the stock OF the American Sugar Refining COM
Exchange met the approval OF many operators III
Wall Street The general opinion is that COM
pany which refuses to make pubic statement Vi
its income account, and monopoizes anu 'ussies
with the stock market in such an unherha"' 0.U
disgraceful way should not be allowed 10 nave i.o
stock even in the unlisted department OF the o'oeH
Exchange The fraudulent game the sugar rus.
has been playing has amazed and astouhded ""n
Street operators of old experience and many Oh
tban have been caught and bed by the erratic
movement OF this stock, which goes up or COW"
Just as the sugar magnates Will from Deoe'no..
Of last wear up the close OF November Oh '"'s
year p Os3 shares OF Sugar were Sold and a.
there are only S75 900 OF the common s'och 'ss"ou
the entire stock must have been sold ABOUT th.es
,tuos everv month The price has fluctuated Do
tween 755s and HIS.
IT'S ENORMOUS PROFITS
@ ,orr,ous have been the profits TO the Trust
&, rho stock market that there Is some grouho
for the report that 1t is paying dividehus iro''A
,bose profits The refusal of the company 10 mdke
hubble It's annual report for the iast year e"
color 10 the rumor. and 1t must De re'e,,'e'
that II Is a u per cent paying DIVIDEND s'oeA CIV
that = company must make an enormous amount
| 81 money 10 maintain such dividends 1t Is known
NAT the profits OF the Trust have peen iaise ~.
account Of the grip It has on the make 1ahae p pee
cent dividend can well be considered IN veM ps
the refusal of the company to let IT'S cnncern
Which would buy National Congress woni r no.
besItate 10 deceive the public as TO us rear ~.
dtion although Mr. Havemeyer dld say una, 'hhJ
company was making no money a dme its con"
Hton can manipulate the price OF tne s' DC I'M ~
such way to make millions ana ,be mo' in div-
fnds Pcrhsos the Trust places to US suIp us
account a certain percentage OF Inc pro' any rate
eSe,her or not it makes enough to pay II Per
| cent dividend. pays Il from t daooiynn ths
| nrosts the fact remains that II IS ueceN"e NV
ppnbllc and making millions by H.