New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-25
CLOSING PRICES OF BOSTON STOCKS.
Boston June "a 1896



Interest in the stock market was confined in
great part to the movement Of Sugar Refining
stock. which again reached a lower level, its
worst price for the day showing loss II per
cent from last nights closing A rally al the
close on covering Of Efforts caused recovery.
SO that the final net loss was only = per cent.
Dealings in the stock were large scale.
reaching $1,000 sharce. AID the street had
another opportunity Of watching the beautiful
pc rfectioD Of the inside control Of this speciality
To be sure the European market for raw sugar
IS demoralized owing to the collapse In raw
sugar speculation. AMI prices have reached about
the lowest figures on record for this season OF
the year; but even then. this Is not reason f'r
a break in the price Of the stock II the American
Sugar Refining Company and people who be-
lieve that trade con litiOns determine the quota
tons of Sugar Refining stock have a great del
to learn regarding this highly manipulated
security. As matter of fact. the decentralization
in the European market will help The American
Sugar Refining Company FOR lower prices Tor
the product are always followed ny Re-
duction In the refined. and az an officer OF the
company said yesterday. any reduction In the
refined means an immediate heavy Increase IN
consumption Speculative operations account inI
the movement In the stock. and in the present
case il may be that too many people have bought
sugar around ~, believing in the tip that the
price would reach 40. Early In the spring IL
was rumored that Sugar would go up 10 lip or
100 and this rumOr has been repeated 40 o!trn
that n number Of operators and others hay"
bought on this attractive. but fallacious theory.
and as usual have Seen the stock slip away
toward a lower level Sugar stock generally
moves in the opposite direction from the point
the Street works for and when the tip goes
around that II Will reach lao 1t liz far more
likely 70 run to par or lower. The STOCK ~ uhd'r
the thumb Of men Whose profits have aggregated
millions and they understand their business too
well t. make pubic the mysteries OF Their
manipulation. The street Is alweys duped ana
deceived by this erratic Industrial
The decline In Sugar stock affected the general
list after "A strong opening. and there was con
tinuance Of yesterdays trading liquidation In the
carly business. despite higher London quotations
and some buying by arbitragT houses. Sub9'-
quently general rally took place. continent be
ing favoraby affected by the belief That there
would be no further gold exports this week There
were no movements Of significance in the general
railway list. although an advance ana larger h'd
ings in Reading were due TO the advance IN inc
circular price Of anthracite coal The Rcadlis
Company raised it's price Of all sizes o' anthracite
- cents a ton at all tidewater points. ana the
New-York anthracite companies announced to me
trade an advance Of 81 cents to all points. 10 take
effect Immediately. The production 81 anthracite
coal for July Is estimated At 3.'ooo"o tons.
Outside Of Sugar Refining. Burlington. ST fau
Louisville end Nashville and Reading were the
only stocks in which transactions were ARG
Final changes In the majority OF snares were q.
net gains the only exceptions in the active isl
being Sugar Refining and United States Leather
preferred Total sales aggregated 2'O,oOo shaTes
Dealings In silver bullion certificates were again
a feature Of the days business. total sales repre-
sentlng .J4 900 ounces. at 6okQho4. Inc move
inent in silver appears 10 be purely spccuIatlNc
and due in great part to the agitation now going
on among the Democrats on the silver question:
Although the dealings were large, the price fallcd
TO make any material advance, It's opening price
being Nc above last nights closing. ana its Clog
ing to-day showing net advance Of nc Exports
OF the metal continue large, and the demand lJr
a =
laton in the certificates as wen as the free silver
outlook IN the Democratic party. 1t Is nara 10 De
ueve however, that any one would buy silver on
the theory that the free-coinage advocates II sue
cnserul AZ Chicago could elect their Presidential
candidate in November. Contrary 10 expectation
no gold was taken for export for the German ac-
count.
Closing r,rices to-day of a number Of active
-. ,,..,ra rn n,ith resferlaN IS as follows: