The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-21
STANDS BEARS OFF
SUGAR IS LOOKED OUT FOB BY
INSIDE INTERESTS.


About but the Pool in the Shares has to
Be Reckoned with-Stock Figures for
More Than RaIf the Total Dealings
Recedes Early but Is Later Rushed Up
Past the Starting Point, Aiding the
General List-Msrket Closes Strong at
Top Prices.
New York, May 20.-The speculative
movement today was almost entirely
based on professional operations and
manipulation by the inside interests in
Sugar against the shorts. The deal
ings in the last men toned stock COM
prised over 81, 600 shares, out OF gen.
eral aggregate of about 117,00O shares.
The opinion has obtained that on the
way down some time ago large lines Of
shorts had been put out ON Sugar at rs
per cent and the bears were reported
thoroughly confident of the soundness
OF their position, basing their argument
upon the alleged unfavorable trade pros
poets and the recent declines in the
grades of the foreign and domestic pro-
duct. There has been a conflict Of OPP
i1ion as TO the result to the company OF
the recent weakness IN raw Sugar, a
decline having occurred in the past five
days. On the one hand it is claimed
that the company's stock is only mod
crate and that the decline will not have
any important effect on it's earnings,
and ON the other IL is argued that a drop
finds it loaded up heavily. AT all events
the bears found today that the power
fu pool in the stock had to be reckoned
with. Sugar early in the dealings re-
ceded a small fraction, 10 120 per cent,
but later was rushed up "a per cent, TO
12234 per cent The movement impart-
ed some sympathetic snap TO the gen.
eral list and fractional gains were re-
corded. Improvement IN the tone or
the market followed the news of the
placing abroad by Mr.. Morgan of So
100000 of new Northern Pacific per
cent bonds and more favorable inteli-
gence in relation to the crop outlook.
The amount of gold engaged for ship
ment to Germany tomorrow was also
less than had been anticipated, owing
TO the increasing firmness of the ex-
change market. The market during a
q
semi-stagnation but prices were we'll
maintained. The absence Of any sell
ing pressure evoked favorable comment.
The late dealings were marked by de-
cided firmness. Manhattan gained 1
per cent and Rubber preferred ia per
cent. The other improvements were
fractional. Speculation left off strong
in tone with top prices ruling.
The total sales of stock today were
166, III shares, including: American
Tobacco, $500; American Sugar. $1,000;
Burlington and Quincy, 300; Louisville
and Nashville, 1890; Manhattan Con-
sOhdated 1900; Rock Island, $500; st.
Paul, $500.
The market for railway and misecE
aneous bonds was without important
feature, although a continued abSorp-
ton of some of the leading issues was
noted, including Northern Pacific and
Southern fives. A number of the usu-
ally inactive mortgages figured in the
dealings at improved prices. The sales
were $4,000
FOREIGN STOCK MARKETS.
New York, May 20.-The Evening
Posts London financial cabIegrom says:
The stock markets opened dull today
on the Times telegram reporting that
the leaders of the johannesburg Reform
committee would be sen fenced TO III
teen years Imprisonment. Later pr
vate cables reported that merely nomin-
al sentences would be passed and the
market recovered at the best. Home
rails and West Australian mines wers
chiefly favored. Mr.. Pierpont Morgan
is said to have placed S6.5OO,0O0 new
Northern Pacific 4 per cent prior lien
bonds at about 50.
The Paris bourse was firmer and the
Berlin market was steady.
London. May 20.-CloSing: Consols for
money 112 ZIG: consols for account 1I2
GIG; Canadian Pacific, 90; Erie, las;
Erie flrsts, preferred, 3SA; Illinois Cen
trad, 9S1a; Mexican ordinary, 17h; st.
Paul common, 1914 New York Central
9912; Pennsylvania, 81. Reading, 53s:
Mexican Central new forus, ia bar
silver, 81 Lie pence per ounce. Money
AQ1 per cent The rate Of discount
in the open market for short and three
months bills was 1916 per cent
London, May 20.-Gold is quoted at
BuenOs Ayres at POS; Madrid, 19. -; Lis
bon, rs; Athens, ia.
Berlin, May 20.-Exchange on London
eight days sight, 20 marks, 43 pigs
LOANS AND CLEARINGS.
New York. May 20.-Money on call
easy at 2a2h per cent; last loan 2i5
per cent, closed ~ per cent
Prime mercantile paper 4G5h per
cent Sterling exchange firm with ac-
tua1 business IN bankers bills $4Ss1LGX
for demand. and s4.S7kG4 for sixty
days; posted rates S4Ss44ss and S4S9i5
G490. Commercial bills s4S7. Bar
silver 675sc. Silver certificates 6SGh
per cent
Boston. Mass, May 20-Clearings SIS.
25S. 029; balances SOL, 500.
New York. May 20.-Clea1ngs ss5.-
SOC. 1876; balances $3.50, sos.
Philadelphia. Pa. May o0.-Cleariugs
81. e7e 900; balances $1,704.ss3.
Chicago. Ill. May 20.-Aioney steady
on call; on time 667. New York ex-
change cleafngs 80 per cent bid 10
asked. Sterling posted rates $3.50 on
demand; S4-SS+ On sixty days. Bank
clearings S14949. 234
St. Louis, Mo. May 20.-Clearings So
AS, 210; balances $6S,111
NEW YORK MARKETS