New-York tribune., 1897-07-23
STOCKS STILL ADVANCING.
DEALINGS ON A LARGE SCALE.


ror., sIYxs AMOUNT 10 4eo, 900 sHAREs-sILVER
REACHES THE LOWEST PRICE ON RECORD. ea4''
Dealings in stocks were again on large
scale Yesterday The total sales were nearly
1900 shares With few exceptions materlai
gains in prices were recorded. The net advances
Of per cent or more In some OF the ieadihs
stocks were: Brooklyn Union Gas rs. Rock ISL
and 2b Lake Erie and Western preferred -
Cotton OIL preferred 2. General Electric IA
Missouri Pacific ~. Burlington and Quincy ~
Erie first preferred 1%. Union Pacific IN. Louis
VILE and Nashville IN. Manhattan IA COTTON
Ou common ~. Illinois Central IA Laclede
Gas IN, whiskey preferred 1. Erie second pre-
ferred 1. Big Four l. The only declines of con-
sequence were 2A in Sugar preferred ana i7s
in Sugar common There were any number OF
stocks which improved between " and per
cent. These included Chicago Gas, Kansas ana
Texas preferred and common New-fork Cen
trail susouehanna and Western, Northwest 81.
paul. Southern Railway, Western Union
There was a one-cent drop in wheat whlch
was not surprising after the fve-cent rise IN the
first three DAYS of the week. The export DUST
ness included seven loads and ~ bushels OF
wheat and four loads of corn here, ana seven
,een loads of wheat and eighteen LOADS OF corn
at outports.
There was another fall in silver Commercial
bars sold at 59.45 cents. the lowest price ever
recorded Previously the low price hao M peeI'
5Qlh which was recorded on January 80 i0o''
One year ago July %. 1896 the price OF co'i'-
mercial bars was COZ cents an ounce. one year
aco wheat sold in New-York at oo1s cents d
,,,,sba, This week II sold at S6es cents. Yes
terday's price for assay bars was o"7s Genus "ii
ounce which was the same as the low recoiu
nrice and which made the silver In silver
dollar worth 4611 cents
A member of one Of the large Foreign house'
which will ship some gold to Paris on SATURDAY
s.ys that in all probability, this weeks ship
ment will clean up the situation so iar "s eo'u
exports this season are concerned The amount
10 go Saturday will not be very large ai'housh
two houses and perhaps more. will export.
Rus,ness in exchange is rather slow. There are
two opinions on the future OF the market
There are those who think exchange Will rule
low this fall and these have been the prihcip"i
short sellers There are others VINO thlhN ''ia'
II will not go much lower, ana tnese nay nay,
bought most Of the future that nave Ieen i,, sotu
II looks as il sugar interests had bought pretty
much all the exchange they need at the mo
ment hut the arbitrage demand to pay Tor
stocks shipped from the other SIDE Is Sou''e
of strength TO the exchange market: Go.
Good information is thai the American SuSai.
PeNning COMPANY (Sugar TrusO has on mana
to-day 425, 900 tons Of raw sugar Which 1t a nao
paid for and on which II mas palu tie uu|s
under the Wilson Tariff law. This amount OF
sugar represents nearly S33.oW,Wp ana lhe
company has paid for ii out OF It's own re-
sources without borrowing any money IL has
besides considerable cash resources so that IL
may be fairly stated that the surplus caSh y.
the comDany now in sugar and cash. is a'
Iess S35 600 900 The profit to the company on
this 425 900 tons Of sugar. duty paid under the
Wilson bill should be- under the pIotecuNe
schedules Of the new bill. about H6.ooo,o"' OF
within 81. 600 600 Of 20 per cent on tne common
stock of the trust. The annual profts OF me
sugar Trust can be assumed to be about Hlu-
200 600 and to this must he added the H"'"o'Vo"
10 he made this year on the raw sugar IN.
norted The conclusion from these lacts Is tha'
there must be distribution OF tne accu,iiu
lated surplus in the near future. II standard
on neople have acquired the large interest IN
the Sugar Trust. IT is fair to presume that the
policv in regard to dividends Whlch mas soN-
erned the Standard Oil Company VIII pe pui
sued In the Sugar Trust An extra olVldehu oI
S1O share ner annum for several years Is d
reasonable conclusion for it would be impos-
sible for any management to continue IN cohtroi
Of the Sugar Trust and MAINTAIN a surplus oI
more than the total amount OF the common
stock .,o, .,.h
the American Spirits Manufacturing Company
CWhiskey TrusO have organized a new corpora
tion which will have exclusive controi Oh
product that will largely decrease the cost Oh
feeding cattle. The profits OF this enterprise
will accrue to the American Spirits company.
II is understood that the company has been
experimenting for the last six months IN the
manufacture Of oil and Oilcake from corn ana
that the experiments have proved SATISFACTORY.
large plant has been erected at feoiia loi 'e
manufa cture of these products, when are es-
sentially by-products, having heretofore been
ctad