The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-13
SUGAR STOCK BOOM
HIGHEST PRICE ON RECORD WAS
TOUCHED IN THE NEW YORK
MARKET.
SHORT INTEREST SCORED.
EAGER MOVEMENT TO COVER, A
REGULAR STAMPEDE BEFORE
THE CLOSE.
GOLD SHIPMENTS ABOUT ALL OVER.
Ease in Exchange Rates an Indica-
ton That the Movement Is at
End.

NEW YORK, July 12-Sugar occupied the
largest share of attention in the stock market
today and its buoyancy was sustaining fac
tor through the whole list, with the exception
of such stocks as were subjected to special
depressing influences. The course Of Sugar
was directed by the gossip about the tariff
conference in Washington and the price sutf-
GENTLY indicates that this pointed to action
that. would insure profitable protection on
refined sugar. The outstanding short interest,
which has been reputed to be large showed
nervous apprehension under the persistent
strength and extensive covering carried the
stock up by leaps and bounds, the closing
being buoyant at 1875, the high point and 6
points above the low point. The movement
to cover became something like a stampede
at the close large blocks changing hands
on the rising price. The sales of this stock
reached total of over so 600 shares which
was over one-half the aggregate of all sales
The price reached, 1856, is the gh st on record
for the stock On June 20, the price touched
100 and has since ruled below that figure
until today.
Outside of sugar the market was dull, the
variations of important stocks being small
and wider variations being shown only in
unimportant stocks. The opening was higher
and quite distinctly disregardful Of the tone
lower. The international shares, were, how
ever. comparatively neglected. Louisville &
Nashville was heavy on the preliminary state
ment showing a decrease in the surplus Of
$415, 344. Northern Pacific preferred was also
offered quite freely, but recovered its loss.
The Rubber shares were weak on belief OF
discussions in the directory, the preferred
stock losing 2A. Pacific Mail advanced to
32A, but lost the gain. The grangers show
ed marked depression during a portion Of
the day, receding an average of about point
below the early gain, but they recovered the
loss The anthracite roads were firm in
sympathy with the strength of Lehigh VAL
ley in Philadelphia, and on belief in benefits
to accrue in the anthracite trade from the
soft coal strike. Des Moines & Fort Dodge,
Chicago Great Western, Brooklyn Rapid
Transit and Rio Grande were quite strong.
Features of the day were the appearance of
market and some short selling of long bills
ing of exchange rates manifest. and the indi-
cation is strengthened that gold shipments
for the season are over.
The bond market was fairly active with
fractiona.ly higher values, prevalent in the
speculative issues. Some of the less known
securities displayed aggressive strength and a
good demand was apparent tor the middle
grade issues Fluctuations generally were
extremely narrow. The aggregate sales, were
81 075, 900. Government bonds were well sup
ported and gained a fraction on purchases Of
$22, COO
I he following were the fluctuations Of the
leading railway and industrial shares fur
nished by c. Il F. Smith & Co., members
New York stock exchange and Chicago board
of trade: