The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-09
SLUMP IN SUGAR
INDUSTRIAL GROUP AND THE GEN.
ERAL LIST FOLLOWED THE
STOCK DOWN.
NOTABLE LACK OF SUPPORT.
THE SHARP DECLINE WAS PRACTI-
CALLY UNOPPOSED DURING THE
EARLIER TRADING.
NOTABLE LACK OF SUPPORT.
As Soon as 1T Was Known the Conn
mittee Had Adjourned the
Market Rallied.

NEW YORK, Feb 8.-The overwhelming
proportions of the transactions on the stock
exchange today were in the industrial stocks
with Sugar far in the lead in point of activity.
Many factors combined to depress this group
OF stocks and the narrow limits of trans
actions in the general list made it easily sub
ject to the depressing influence of the leaders.
with the consequence that the course of the
market was Sharply downward during the day
with marked rally toward the close. The
situation in the industrials continued much
the same as for some time past, all being de-
pressed by the proceedings in this city Of
the legislative committee, which is now in
vesttgating the Sugar company with a further
investigation Of other companies still in pros
pect. Sugar, as being Immediately the sub
Ject Of investigation and being open to
other unfavorable conditions, was in the van
of the downward movement which began with
the opening, and after period of apathy, con-
tinued in manner resembling partial de-
moralization. There were evidences Of quite
heavy liquidation in the stock, and in the
course Of the decline, extensive stop orders
were apparently encountered, which acceler-
ated the fall in prices.
The whole market became a victim of this
movement the industrials in marked degree
and the general list fractionally. There was
a notable lack of support for the yielding
Alidi net, anu luS ueClln6 was pTdCLlcally IN
opposed. The decline in the price Of Sugar
in the movement was 2a4. Leather preferred
yielded IL. Tobacco, IL. Chicago Gas, 1.
American Spirits preferred, 11s, and Illinois
Steel, 1; Rock Island, rs; Northern Pacific,
1; Northern Pacific preferred, rs, and D. &
H., l. There was also some depression re-
Elected from London and Europe over the IN
easiness felt there on account of the political
situation, the czar's i'll health and the fric-
ton between the British and French govern
ments over Egypt. But the decisive influence
in the market was undoubtedly the Lexow
trust investigation committee, and the days
proceedings before it. This was shown by
the rally which occurred in the market upon
the announcement that this committee had ad-
journed over until Saturday. Sugar rose
on this announcement, and regained all but
Is or the days loss, carrying with it the other
lndustrlals Tobacco, however, beneftting
only by "a per cent, thus scoring a net loss
OF l12 per cent on account Of the belief that
II is to be the next company to be taken up
by the investigating committee. The pre-
ponderance Of Sugar dealings in the market
is SHOWN by the fact that nearly half the
total number Of shares dealt in for the day
were OF that company.
me market was almost wholly profession
al one, and the rally after the decline was
i I'M accumulated by the covering OF short
interests. The dealings in other shares were
without special significance or importance.
the course of prices being almost wholly in
sympathy with the industrials. The i'm
proVement shown in the statement of east
pound tonnage failed to exert sustaining eff
Iect IN railway shares, and the general list
SHOWS fractional net declines. London sold at
tne outset, but later turned buyer. The
traalng was somewhat unsettled, after the
rally, but the closing was firm. The Atchison
new common stock was first dealt in TO-DAY
and sold at 121sQ12Ac.
eli Inc BOND market was less active, but a
Ialrly good undertone prevailed mill naar
Inc Inc close, when some concessions occurred in
one speculative issues. The gilt edged stocks
continue conspicuous in the dealings with
Erie hrst consols rising 2A to las, and re-
acIing 10 AZ Sales were 81, 496, O0O Gov
were $25, 900. safes
CHI me ne total sales of stocks today were 1914 O9O
tnciuo 5ag: Tobacco, $500; Sugar so 600
burlington, $500; Chicago Gas, 8. 800. North
er lno raging &C. $500 Northern Pacific preferred,
me following were the fluctuations of tho
1 niaIg railway and industrial shares. fur
M Nlsne1 Dy Z. II. F.. Smith G Co., members
of trade: OAit'aso Doaro