The evening world., 1894-05-08
RIG SLUMP IN SUGAR.
prioe Knocked Down by Those in
the Ring"
Gales Of Over $1,000 Shares Re-
corded In the First Hour.
subsequently There Was a Rally
and the Price Went Up.

Sugar furnished the sensation OF the
,,orning at the Stock Exchange. The
dealings in 1t were on an enormous
sc.,e. and for a time exceeded those in
all other stocks combined.
Those identified with the Trust pre-
,.nded to be dissatisfied with the tariff
schedule drawn in its interest. and to
Faster this idea a sharp onslaught was
made upon the shares
Under a perfect avalanche OF offerings.
bree points were knocked of the price
n few minutes. and many unfortu-
ates were forced to get out by the
lpid wiping out of margins.
Che lowest figure touched was l03 IA,
at around this price buying orders
,peared in sufficient amount to turn
ne tide, and a rally to l05 ensued.
The trading in Sugar during the first
our exceeded 81 900 shares.
rundoubtedly some selling was done
'ecause OF the Breckenridge amendment
n the House yesterday. as this is ac-
'epted as meaning a sharp fight in
hat body II the sugar schedule comes
before 1t in its present shape.
The general market stood up remark
pDly well uHueT tle Dredh III sugar,
yielding only 1-s to "a, the latter for
General Electric. which sold down to 81.
All stocks the bears cared to sell were
readily absorbed. and a rally quickly
took place.
The stubbornness of the general list
was great surprise to the shorts. who
seem to be utterly unable to bring out
long stock.
II operators only knew when tariff
agitation would stop, there Is little doubt
that they would advance the market at
least until the short interest was elimi-
mated.
So far as Sugar is concerned the in
siders have everything to gain and moth
ing to lose They can play a safe game
80 long as they can get earlier and more
reliable information from Washington
than any one else.
st. Paul sold only 1-8 below last night
although II Is known that the company
has disposed of s2,ooOO,ooo general mort
gage 4 per cent. bonds, which have beer
in It's treasury since the organization.
The bears made mistake in giving
currency to the report that the com
pany intended to make brand new issue
of bonds: The sale just made Is no sur
prise, 1t having been understood that the
bonds would be disposed Of whenever the
rose from 60 rs to Gl 3-S.
Rstilers advanced IL, to 25; Atchisor
IL, to Il 3-S; General Electric 1-2. tc
81 r.; Lake Shore d Il to 1870 j.; Mis- Mis-
trail 1-2, to 90 IA. and Burlington &
quincy l-2, to 70. Lead sold at 80 5-s 1
Money l per cent on call, and / l-2 tt
EoraiDn axrhanCa q n,ittf
and firm at 4.7s Ia a 4.7s IL for bankers
sixty-days, and 4.ss 3-4 a 4.ss for demand
The supply of bills continues exceedingly
will go forward to Europe tomorrow.
Commercial bar silver sold at 63 3-4 anc
Mexican dollars at 81 IA. Bar silver II
London UNCHANGED at q l,Sd per ounce
veoped increased strength, and on com
parahtiyeiy light offerings ring prices made
Sugar, St. Paul. Burlington and Dis
tillers. The first-named was notable
exception. selling down to about 10
under heavy pressure to sell.
for stocks. Lead commanded 1-64 pre-
MUM. and Northern Pacific preferre
and Louisville & Nashville 1-256. West
ern Union, New York Central and Fri
Stoci,S 'osed dull and easier. Genera
Electric declined l-S per cent. an
Sugar reacted from 105 rs to 104 rs Chi
cago was a seller OF stocks and report
were current that a big Western graf
house was in difficulties.
1t Is noteworthy that a new low recor
was made for whaet at Chicago to-day
Kuhn. Loeb & Co.. may ship s5Oo0(
yEold by the Normannia. sailing o
Thursday next.
j. & w. Seligman & Co. will shi
225,000 ounces OF silver: Hedelbach, lex
elheimer & Co, 40 900 ounces: NeSSlagt
Colgate & Co.. 3O,O 900 ounces, and Zim
norman & Forshay, $4,000 ounces an
10000 Mexican dollars. all on the steam
ship New York. sailing for Europe to
morrow.
The sales of listed stocks were 201 g.
shares. In the unlisted department l12
400 shares Of Sugar,and 200 Lead wei
traded in.