New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-21
THE SUGAR KITE HIGHER.
ANOTHER RECORD PRICE Q4oA)
REACHED.


Another record price for the common stock OF
the American Sugar Refining Company (Sugar
Truso was made yesterday. when a quotation
OF 1851 was attained. The low price was la
at the opening The closing price was 144, which
was 2A above the final price on Monday. The
sales were $4,000 shares. or something more
than one-ffth of the sales of all stocks on the
Stock Exchange list The total was 3So'ooo
shares The dealings Of course. did not compare
with those on Monday. The sales Of preferred
stock were comparatively light. being 3.ooO
shares The high price for the day was 1lJ'l.
The low price was 114h at the close, which was
8. below the close Monday.
The stock market In general was strong ana
when stocks were offered for sale in order TO Sc
cure profits that had accumulated new buyers
stood ready to take them There was much ac-
tiyity In the shares of the so-called Granger
roads on account of the great grain movement
which is now at hand. and which VIII greatly
swell the earnings Of these roads. the largest
dealings were in St Paul. which showed d
trfng loss of q at the close. due TO Foreign SELL
ing orders Chicago Great Western, when mas
lately come into prominence. was IN large ue-
mand There was rise OF point and quar-
ter in il. The talk was repeated OF PoSS'oie
deal whereby the property would be taken in by
the Chicago Burlington and Quincy
There was IA two-point rise in wheat yes'ef-
day on the strength of the large engagements
for export. The purchases for the day at New
York the "out ports and interior points were
reported as being 100000 bushels. TheTe
might have been some Implications but II was
certain that the total wheat bought for export
was 80 600 bushels or more. Twenty-Five to
thirty loads of 5000 bushels each were taken
I'm New-York and forty to fifty were taken at
the out ports At Chicago 400Uo bushels were
taken and at St Louis 100000 bushels were
taken
FEELING IN THE STREET
The whole feeling in Wall Street was that
rermanent bull market under way. II was
believed that the Senate would promptly COM
plete its work and that the new tariff would De
put into effect at once. The duty payments al
the Custom House showed that importers shared
this view The payments were S2.2"'o2l IL. OF
which 81 700. 900 on goods Withdrawn from
bond The payments on tobacco alone were
s15OOOOO They covered. for the most part
Suratra wrappers in bond. This tobacco was
bought at the annual sales in Amsterdam ana
Rotterdam. which this year were held in May
one month earlier than usual. 10 let the to-
bacco bought for America reach its destination
before the new tariff became effective Since
March 10, 10000 bales Of tobacco have been
withdrawn from bond. OF this tobacco ooUo"
bales were Sumatra and SOWN bales were IA
yana The Sumatra has paid in duties SZoo
bale or S13 900 600 and the Havana has paid
$50 bale S2.So0,0o0 Other things imported
in large amounts in anticir alton of the new
tariff have been sugar. china linens wooIlehs
and moquette carpets The Sugar Trust mas
more than 400 600 tons Of raw sugar PAID TOT,
on which the profit is estimated at approx
nately S60OO00O. When this sugar is sold the
trusts surplus will be nearer S1O'oV'Vo than
The largest DAYS duty payments were
50 1861 go II on March Il. az which time there
expectation that the Tarn Dill Woulo
contain retroactive clause.
CONDITION OF STERLING EXCHANGE.
Sterling exchange strengthened up somewhat
yesterday. which led TO belief that there nigh;
he additional gold exports Sterling in Paris
continues 10 range Just shade above the gold
point. with occasional excursions below. Paris
has not gained any appreciate amount Of gold
from London for some time. Australia has
been in position to get most Of what was
going. About the only feature in the specie
movement far Paris is concerned is the
continued outflow Of silver coin to Switzerland.
There is a scarcity Of small coin In Switzerland.
At Berlin sterling Is quiet with no special move
ment At Vienna sterling continues weak and
gold is going practically all the time from Lon
don. The Austrian Bank has now large stock
OF gold. but neither the bank nor the Govern
ment is disposed to pay away single gold com,
and none has been seen in circulation. STEERING
at St. Petersburg is a shade tirmer. although
very close TO the gold point. The Russian Gov
eminent is putting gold rubles into circulation
TO a considerable extent. At Rome exchanges
are moving favorably to Italy, and the Italian
banks have succeeded in gaining little gold.
Spanish exchange on Paris and London mas
fallen materially. and sterling is quoted at Mad
rid at the highest figure ever seen. spanish
finances seem to be in bad way. The same
tendency Is observable at Lisbon There Is a
slight improvement in the position of Japan,
thanks to a moderate decline in sterling. The
gold premium is only about 2i2 per cent at the
present time.
WHAT is KEEPING RATES DOWN.
The president of one Of the large National
banks said Yesterday: IL have been rather sur
prised In talking with other bankers to find that
money has been coming here rather abundantly
In the last few days. and does not seem to have
any particular resting place That is what Is
keeping down money rates. j had looked for
falling in bank reserves next Saturday. but IT
may not come just yet The president OF lead
ing railroad company in the West tells me his
people are buying exchange on New-fork IN
stead Of shipping money here, because theE VIII
need the money from now on TO move the crops.
Others tell me the same thing. 1t is TACT also
that Western banks have recently been hquldat-
ing securities and getting cash. so tnat lhe!
have a pretty good reserve for present demands
Eastern banks viii not be called upon therefore
as soon as might otherwise have been the case,
The head Of a large house in Wall Street SAID:
eft is true that the recent Offering of Lake
Shore Railway 81 per cent bonds abroad was
NOT n success The bonds have been sold, now
ever. to local investors. The trouble abroad Is
that investors there cannot get over their treat
nent in the Baltimore and Ohio Railroad issues
II nettles them more than anything that has
happened TO them for many years. Trey thought
the Baltimore and Ohio was perfection, ana
they can hardly realize its condition. This coun-
try is going ahead however. and getting more
prosperous every day. There Will be much
money made by those who invest here. and
sensible foreigner will not lei past prejudices
interfere any great length Of time with his pros
poets OF getting a share Of present prosperity.
APPLYING FOR CITIZENSHIP PAPERS.