Evening star., 1897-07-27
Sharp Break in Sugar on Wall Street
Today.
OTHER STOCKS FALL IN SYMPATHY
Reaction Due to Realizing Sales
and Oisquieting Rumors.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch The Evening Star
NEW YORK, July PA fair volume of
buying orders from London and a moderate
local demand combined in establishing a
strong speculative undertone at the open
ing of todays stock market.
The anthracite coal shares were in un-
usually good demand, substantial, advances
being recorded in all PARTS of this group
Delaware and Hudson New Jersey Central
and the several Reading issues We're most
conspicuous in this movement.
Under cover of this surface indication OF
strength, profft-takng and liquidation was
in progress in sugar and the grangers.
The decline in the former property ex-
tended almost to per cent. and frac-
tion over ! per cent was deducted from
the latter issues.
The selling, so far as it represented profit
taking. came largely from one source but
the room sold few stocks In the interest
of fractional profits in the short account
During the declining period the coal shares
were forced into sympathetic reaction.
but they were at all times trifie superior
to the general market.
The course of prices was almost wholly
disappointment. notwithstanding the fire.
quently expressed opinion that a reaction
vas due.
The change in foreign sentiment and con-
tinued favorable crop intelligence were
relied upon to stimulate All active and
higher market. Had 1t not bean for the I'M
sympathetic action of Sugar these hopes
would have probably been realized.
Rumors of all sorts accompanied the de-
cline. the resignation of Mr.. Havemeyer be-
ing the most effective.
The sharp advance in these shares and
the lack of satisfactory argument in ex-
planati ton thereof have naturally left the
stock ir an extremely sensitive condition.
The attempt of an operator-supposed
to have made the lions share of the
Gently created profits-to sell out and con-
vert his gains into actual cash was fol-
lowed by selling in all parts of the room.
over I5.DO shares. was forced out of SUI
gar during the time of the conference COM
nlittee's debate.
1t is now shrewdly hinted that this par
ticular snort interest and not the Senate
schedule was wholly responsible for the
successful campaign on the long side OF
sugar. In any event, the one man interest
ed above all others in advancing the price
is now endeavoring to get cut of his hold
inSS. and traders are ever watchful for
an opportunity TO offer down the price.
American Tobacco was also subjected to
similar influence.
The price of this property yielding sharp
ly to realizing sales. The lower-priced IN
dustrial SHARES were relatively depressed.
There is 10 indication of any permanent
change IN sentiment.
The outlook for Improvement is bright.
and the character of the buying al today's
decline was unn istakably improved in
chaI acter. The depression W II extend only
TO the point at which traders Will endeavo"
to repurchase today's sales. This change
of front is likely within the next twenty
four hours The new demand should he
unusually confident. If this declining ten
reactionary limits the rebound will he sud
den and effectual.