The Washington times., 1894-05-11
SQUEEZING SUGAR SHORTS.
The Stock Moves Up Without the Excuse o
Affecting News.

The Stock Moves Up Without the Excuse Of
Affecting News.
NEW YORK, May 10-It was not an active mar
ket to-day, but the trading was fairly well dis
tributed The industrial group took about one
third Of the business, with sugar as usual in the
lead St. Paul was most active of the railway
list, and was the only one of this class of stocks
in which transactions exceeded ten thousand
shares
At the opening the general market was firm,
and a majority of the shares traded in showed
an advance on the closing figures OF yesterday,
exceptions being Illinois, Central, Louisville
and Nashville and General Electric. The specu-
lation was unsettled during the nrst half hour OF
business, but gradually assumed strong tone,
the Changers and lndustriais being most proml-
nent in the upward movement
The improving tendency Of the market con-
tinued into the afternoon, with sugar as the
leader, having made q gain OF IA up to midday.
The buying in the stock became. quite pro.
nounced after noon, and was for both long and
short accounts, causing an additional advance OF
ga. TO 10734. slight bear demonstration sub
sequentiy caused reaction of ;6, but the final
sales were at recovery of u, making the ad-
vance on the day 3l6 Sugar preferred made
gain OF 13i, closing at the highest OF the day.
The general list was strong throughout the
afternoon until Just before o'clock, when a
fractional reaction set in, due mainly TO realza-
tions and the market closed slightly heavy and
somewhat irregular. but in a majority OF cases
at an advance on last nights closing ngufes The
rise in sugar was unaccompanied by news af1ect-
lug Tue BUCK. anu apparently "oo tuc W Il
squeeze OF the shorts, who were Inclined to sell
by the artificial weakness displayed durihg tne
last few weeks. The liquidation III General Elec-
trio was resumed this morning. sending the
stock down TO 35ls being III per cent below yes
terday's closing The readiness with which the
stock offered was absorbed checked the selling
and induced buying, causing rally OF Ia, the
final sale being within II of the highest point
touched
Chicago Gas was favorably affected by the
company's application to transfer the quo war
ranto case from the Illinois 10 the United otntes
courts. the shorts undertaking to cover ana some
buying others coming in from the West. The
result was an advance OF l9s, OF which Is was
lost at the close.
The Changers made gains Of 1f@e5 on the
day except st Paul common, which ilost X and
do. preferred, per cent American cable ad-
vanced 21e, tobacco IL, lead Is, and ~ farl and
Omaha preferred per cent. oregon Naviga-
tion sold mt 20, against q the previous sale. ILL.,
nois Central declined per cent TEe other
changes were fractional
The bond market was irregular, the principal
changes being: Declines-Northern Pacific and
Montana firsts, 5la; st Louis and san FRANCISCO
seconds, class A. 3N; Central racine land
grant flves, 3; Atchison, Colorado ana Pacifc
firsts and Flint and Pere Marquette iyes each
21S; DO. Port Huron div fives. j; Detroit NJ.
and NJ. land grants 2; Wheeling and Lake Erie
fves, each 1lh; Cincinnati, Dayton and lronton
nves, Fort Worth ana Denver City skies, and st.
Louis Southwestern seconds, each per cent
Advances-Des Noines and Fort Dodge s12s,
3% New York and Northern frsts, 3. Hooking
Valley fives. .; Virginia Midland generals and
Chicago and Eastern Illinois frsts, each lss, and
Pilt5burg and Western fours, per cent