The evening world. [volume] (New York, N.Y.) 1887-1931, 1894-03-06
SUGAR REACHES 100.
Great Excitement for a Time in
the Stock Exchange.
In the Early Opening Hours It Sold
as Low as SO.
The Rise Said to BE Due to an In
experienced Brokers' Blunder.

The Stock Exchange was the scene of
wild excitement this morning, owing to
the remarkable gyrations of American
Sugar Refining stock. At the opening
the price was damned down 2, to SO, and
a good many buyers at the highest fig
ures OF yesterday became alarmed and
sold out
The stock dropped right into the laps
bears. Slowly the price crept back to
49, and then by more rapid stages got
At this juncture the bears became
panic-stricken. and rushing to cover, bid
prices up on themselves. In few mo-
shouts.
Sales were made at all sorts of figures
simultaneously. and the prices slumped
to 81 almost as rapidly as 1t had gone up.
Still later there was rally to IS a.
The dealings were OH an enormous
scale. and the bulls were wild with glee
at this their first really successful move
against the shorts in months.
There were good many theories as
to the operators who had been caught
That thew include Washington as we'll
that . leading bear had settled privately
were frightened. and under their pur-
chases as general advance ensued.
Chicago Gas rose 3-8 to IS 5-8. st. Paul
tillers' IS to Is 7-s, Burlington & Quincy
rs to 70 rs, Western Union IA to 81 10,
Susquehanna Western preferred "a to
Lead fell 2 to IS. and later recovered re it's it's
early loss.
After the elimination of the excite
mem, in sugar the brokers were dis
the feverish fluctuations in that stock
as unhealthy.
Louisville and Electric. '''
sugar moved up and down frequently,
I ICED 5he sc aesiinss were on sEeatly re-
I. ,use took 10000 shares early in the day,
ut the rise to par was mainly due to
he bungling way In which an order for
600 shares was executed by an mex
nrienced broker.
2 When he started in to bid, several
brokers In the crowd saw. at once what
to his client, In other words. he got his
frst y hundred at 49,, and was forced to
pay % p up pp,s to 100 for or, his last lots
Sugar Trust has accomplished at Wasn-
'ngton all IT set out to do. and will con-
inue to make big dividends at the ex-
,ense Of the consumers. The eayy rise
nouncement that the Executive Commit
tee had declared the regular dividend of
~ per cent. in cash.
The date Of payment and closing of the
OF directors Of the individual companies
to be held at Chicago This week.
sales OF stocks up to noon were 214-
nm. Of which 10000 were American SUI
New York Central commanded 1-s2
Union. 1-256; N. p, pfd., nat to l-o5s: T.
s., N. e. and Sugar fiat, and Erie, Dis
tllers and st. P. fiat to per cent. for
carrying.
Money lent at per cent on call.
Foreign exchange was strong at 4.Ss Ia
days. 1t is expected that gold will be
shipped to Europe by Saturdays steam
Bar silver in London rose to Of Id.
a. 20 10, and Mexican dollars at A "a
Sugar continued to be the centre OF
clned to 90 IA after selling at par and
iransaetions were at 90 IL. against So "a
Yesterday; 1t is the concensus of
oninlon that the Jump in the price to
sders, who are afraid that the specula-
IN might be used against them at
Washington.
Ioe belief obtained that the Have
movers and others were instrumental
In bringing about the reaction near the
close.
There was good buying of the grangers,
Western Union and other leading shares,
and the undertone of speculation was
strong. but near the close the bears made
receded
Thu sales OF stocks were 1851 900 shares.
In the unlisted department 1871, 400 shares
OF Sugar, and 800 Lead were traded in.