New-York tribune., 1896-04-03
CLOSING PRICES or CHICAGO STOCKS.
ON THE STOCK EXCHANGE.
Thursday. April 2-p. IN.


The speculative movement in American 10
bacco. which began last fail, when the d'fec.o's
passed the February dividend. and since then
has furnished an instructive lesson In nanlpuia-
ton. was to-day the leading feature in stock
trading, contributing $3.50 shares out OF tota'
IN all stocks OF l5l. .s74 The successful and adro't
nanoeuvres OF the insiders in Tobacco have
caused a perfect speculative orgy FOR the last
few months. and the masterstroke Of the whole
affair was given yesterday. when the directors
declared dividends on the preferred and common
stock and a scrip dividend OF 20 per cent, which
u,hen converted into common stock Will increase
the company's ca p.ta common stock to s2l'4soooo'
Tobacco stock was offered on the street last
night after the close Of business at 81 ana 70
was bid while this morning 1t opened on '"e
Exchange from 50 TO 81. against the oiiciai co7-
ing Of ses. yesterday 1t stood down as 10" "S
se In the course Of the day, but before ts lowest
,oo ,,aa reached handsome profits had been
o,,r.d nv the insiders and disappointing losses
made by the shorts. it closed at s9't Iooaeco
has sold as low as 7lts this year while TO-DAY IL
reached its highest price OF the year. but III 1899
II sold as high as III and az low as 6S. Ihe 'aS'
price was quoted at the time OF the uheApec'e"
decision passing the February DIVIDEND WIN"
wos G noInts below the Venezuelan panic price
and 80 Il appears that the nuctuailohs !" '"e
s,ocr On abIv engineered BY the insders'
amounted to a decline Of about 10 points pre-
ced,na the passage Of the dividend. and an ad-
vance Of about 10 points preceding the dcc'a'a-
lion Of the dividend yesterday 1t VIII be re-
r,hered mat when the dividend was passed
,n December the company announced thiit IL
needed additional working capital ana all
interview in The Tribune at that tme WIN q
large holder Of the stock stated tnat ',e ,',, ov
pany had sustained enormous '1Sscs :,, so,nnanys
aggressive competition. and that the company ~ .
snrnIus OF 81 900 900 In January, 1879. was ~.
cash. but was represented In plants. III M VII" ,hs
of the condition OF the company az siio~i o,,s y
Is ANIMAL statement and in view or the serious @
nnn,netiton now current. the action III ue."llne %
. dividend does not appear IN Iihe WIN ,'av ha
servative management Ihe co'npnmy iiw sun
J"inq a better business than Is eeneta"! 20 "n ~
onn5 and criticism against II may De out VI
riocn II this is the case careiui et' @ ~
from the company should pc naoe anu aoaassrv
~, ton given showing why IT was heces.a g. &
asa q dividend In December, ana now .ns, :. w.
10 pas IN three months TO put the comp".y
no S,,cb an excellent financial condl.io" 40 ~
arrant the dividends declared yestei ;,,or NV
"au a., az, s.n, does not like the surprises piven ",
me eco Company. From stock m6tmo' 6nno'
noint of view the action OF III, .uo In december
pany upon the divinemu cui,ar piece Of business,
ad and T. laws claim to rank with pas. oousdered
itet scandals. II such nw cri'lc'n insiders show
,,niust let the Tobacco Company ,Inn IN the
uhJus'' hanest &c, 10 them the fuctuatioh "a ,vas
Stoct has given and why tine the action
ma ssed in December. In Decen'D.' .a ban several
Weeks f on y,tsn t%s aof of He ne
Exchanee the company directors "ero rog,,lar and
EScaa"sS 70 ae, upon the dividend In res"'"' "'''
orderly manner. .,,o. ,yas ccmparatively
inactive sugar RsniIs ,s:ks st. in pSS which a"d
racihc err,ed VIZ m over 5000 shares, ana .ne
Of the list save interest Ses S%S a%nded
tionai chansss s M outside support. final prices
sSa SHOWING gains than @s rcs csans
Ssh %o%sS figures There rum0r hut fhet Il
100000 gold would 60 out a on annearance Of any
gold bills in ths mspss ase IN. ons s.rns ins'e exchange
may nave NorSok and Western underwrl,.
ing syndicate which i. made Up y saDsetsd
OF loreign oo ~" 81 exchange will be furnishes a
ssanst the syndicate: opsrsst,oSDss Ss used Sc here