New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-09
RUSH TO GET SUGAR PROFITS.
THE NEW TARIFF BILL A SIGNAL FOR
SPECTATORS TO SELL.
PRICES GO DOWN IN THE FACE OF THE sURREN-
DER TO THE HAvEMEYER TRUsT-wAIL
STREET KNEW THE GoRMAN COMPRo-
MISE WAS COMING FSFoRE SOME
DEMOCRATIC SENATORS
ADMITTED 1T.

DEMOCRATIC SENATORS
ADMITTED 1T.
The new compromise Tariff bill OF the Senate
Finance Committee Matched under the supervision
OF Senator German chief "steerer," fell fiat in
Wall Street when published yesterday. Its effect
was damaging to the price of American Sugar Re
fning stock. notwithstanding the of millions
OF profits made to the Sugar Trust The many
holders who have been in the Congress specula-
ton wanted to turn paper profits into cash TO
suit the market. which was swamped by the selling
orders that poured in from Washington and other
sources. The compromise bill. in certain sense.
not news to Wall Street. which is laughing at
the simplicity or disingenuousness Of men like
Senators Turpie and Voorhees,. who last week vio-
lently and vociferously denied that the dark
lantern" committee al work emascuatng the
patchwork of the Wilson bill which the Senate
Finance Committee first produced. Even before
Senaxor Aldrich and other Republican leaders
haunted their opponents with the work Of vivisec-
ton which going the favored spectators
OF the Stock Exchange were aware OF the negou-
atoms in progress to surrender to the Havemeyer
interests
II any faith In the sincerity or stability OF Demo-
cratic convictions ( had existed in financial circles
the presentation OF tariff reform" measure
modelled upon Mckinley lines OF legislation might
have been beneficial in its influence. Finance and
commerce were seriously upset when Representa-
was to brain many American industries. Since tina
time tariff reform has lain like pail upon
enterprise and confidence. But after the re-
plated Democratic defeats Of the winter and spring
had warned Congress that the people weary
o. the dhsastrou. experiments with Bourbon suprem-
acy, no confdc. existed that the tariff thinkers
Could max more than a botch in trying to recon-
struct the Wilson monstrosity The new bill that
the Steering Committee, in the Senate has de-
vised excites interest in spite Of the retreat In
many directions from Free Trade regulations 10
affer early squirt, yesterday nattened out and
closed at declines. II Is feared that the radical
changes made in the schedules first proposed will
arouse free trade animosity and will be beaten IL
the measure ever gets into the House OF Repre-
sentativeS. More uncertainty than is feared
as the outcome OF the attempt Of the Admins
tration 10 coerce legislation that will serve as q
plea thet some pledges of reform have been re-
deemed even If the redemption liz in base coin
But there is general belief that the German
compromise will merely the basis for
another Dix speculation In the trust stocks the
enrichment OF the Democratic spectators in and
out OF Washington. Wall Street wonders how the
little minority of Democrats In the Senate could
bring the majority TO its side. Was there a
"dvyy' by the few with the many? But Sugar
stock yesterday told the tale OF stock that had
been piled up at lower prices. while the Senate
cabal was parcellng out spols for the benefit OF
the Sugar, Lead and Whiskey combines" The
lame Senators started early Saturday 10 rake
In profits Yesterday morning every wanted 10
get out before the other fellow and the result was
- that Sugar tumbled from 1901 to 103i4 In few
minutes. Then came rally to lC57k. followed by
steady recession 10 1oi7kalo5h at the close