Evening star., 1897-05-04
Sugar Stock the Center of Interest
on the Exchange.
CONTROLLED BY WASHINGTON NEWS.
Some Of the Gould Properties Suf-
fered From Bear Attacks.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. May 4.-Operdng prices this
morning were generally better than those
rrevailirg g at the close Of yesterdays bus
iness. London cables reported a steady un-
dertone ir all the foreign markets, but the
american department was irregular from
lack OF interest Disregarding the lack of
sympathy, traders bid up prices in the in
terest Of both accounts. The securities
having the largest shcrt interests respond
ed easily to the demand and were well sus-
tained at uniform fractional advances.
Interest centered largely In Washington
advices relating to the new tariff sched.
ules. The item covering imported sugars
was matter o; general information dur
Ing the first half of the second hour The
action OF the stock prior to that time Jus
titles the presumption that private in
Iornation to the same effect had been re-
ceived prior to the opening of the market.
opening at an advance of v per cent. the
STOCK was given excellent support until
the actual announcement was made after
which an advance of ~ per cent additiona.
was recorded
Although unusually complex In its ar
rangement, the combination of specific and
ad valorem duties proposed would seem TO
give the trust protection about equal to
that OF the Wilson bill. Some estimates OF
present law. The actual difference how
ever. is perhaps not material but that the
company Is satisfied can scarcely be
doubted. The recent strength of the stock
has always been regarded the result OF
inspired guessing as to what the result at
this stage of the proceedings would be-
The satisfaction so openly expressed is.
however. one Of the vulnerable points In
the new schedule, and while the uniform
successes OF the company are not likely to
be broken by ultimate defeat the process
In between is likely to prove Interesting
The acquiring Of important beet sugar
plants Is factor OF considerable import
ance, and indicates activity along every
line from which competition might arise.
Chicago Gas was again supported by
friendly interests as the result of reliable
advices predicting the firal triumph of the
pending consolidation bill. notwithstanding
the opposition by rival concerns. The
strength of the two industrials quoted inn
parted a steady uadertcne to neighborinr
issues OF the Same group with the exception
of Tobacco The tariff provisions were re-
garded as being less favorable to this in
drstry.
In the railroad list the Gould properties
were features. Missouri Pacific and Man
haitian declining under superior selling
and Western Union recovering on pur-
chases by the short interest. There were
no new developments warranting the move
ments. The granger shares and the coal
properties were all stronger, but the VOL
ume OF business was not large Sentiment
was somewhat more optimistic in tone as
the result OF assurances of speedy tariff
action.
From reliable sources it Is learned that
no reasonable grounds for such assurances
exist. The trading was not of a char
acter indicating a broadening market. but
the professional mind is once more in
sympathy with higher prices. How long
the mood will continue will depend on de-
velopments at Washington