Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-30
FINANCE AND TRADE
Enthusiastic Selling Of Sugar
Stock.
GREAT EXCITEMENT AMONG OPERATORS
What is SAID Of Possible Tariff
Legislation.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November 30.-The official
announcement that q wholesale reduction
in the operating force of the American
sugar refineries would be necessary In
order to conform to the Improbable con-
dition of the sugar trade resulted In an
enthusiastic selling movement In the stock
Of that company Immediately after the
opening of today's stock market. The ex-
element in the crowd was so great that a
variety of prices were paid simultaneously
in different sections of the group of sellers.
which necessitated reporting the opening
to have been between SIS and 81. 6,0OO
shares Of stock changing hands between
these extremes. Tho latter price repre-
sented decline of 2 So per cert from
Wednesdays closing. The trading was
conducted on liberal scale throughout
the day, rallies and reactions following
each other In rapid succession.
The street Is again aggressively bearish
on this property in anticipation of a re-
duction in the next dividend rate. and
severe struggle and perhaps final defeat
in the Senate during the winter. The free
sugar bill Is said to be certain or reach
ing vote and the recent revolution in
politics may result in effort to take
revenge from a source not the least in
the party now In power. There Is no doubt
that the earnings of the company for the
present year will compare favorably with
those of preceding years, but while hos
tile legislation is threatened, figures in
verfcation of this assertion will be with
held and a plea of poverty. verging on
bankruptcy, entered in support of a reten-
ton of the present tariff rates. There Is
some discrepancy between the figures
named as the limit of the decline, but the
most conservative will insure handsome
profits from the present level. Chicago
Gas sold down l IA per cent. and Distil-
ers 1 Is per cent on selling by the room
element.
In the regular list the trading vas more
restricted and fluctuations confined within
smaller limits Manhattan lost 1 per cent
on moderate trading and Western Union a
similar amount on sales by the operators
identified with the recent movement in this
stock. Southern Railway preferred declined
lis per cent and the common y per cent on
realizing sales and some room selling.
The rather gloomy outlook for the indus
trials will probably result in a disregard
for conditions applicable to other issues and
Gold shipments are not unlikely in the near
future, as it Is estimated that the ap-
preaching interest disbursements will be in
excess of the amount received for the pur-
chase Of the new government bonds by
foreign houses
The Hast hourly business was dull and
irregular. Sugaruwas bought by brokers
frequently used by inside interests, but
sales on every rally are still urged by the
best informed. Manhattan was further de-
pressed during this period. but elsewhere
prices wereI neglected. Final figures, in
the main. reflected fractional concessions
from those recorded at the opening.