New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-14

CLOSING PRICES or CHICAGO STOCKS
Tuesday, July I'm m


The extraordinary interest which was mani
Tested in Sugar Refining stock yesterday was
again shown to-day. the stock making further
advance from the high price recorded Yesterday
10 1878. and closing at net gain Of per cent
at 1875. The bulls in sugar seem TO think that
the Sugar Refining interests are well satisfied
that the Tariff bill when finally settled Will con-
tain considerate treatment for the Sugar Rein
ing industry; in fact. the gradual appreciation
Of the stock has reflected this feeling for long
time. and II would now seem as though a reac-
ton in the speculative football were about In or
der. although enthusiasts are predicting $50 for
the stock. The current advance has lifted II to
its best price on record. and 1t would not surprise
the Street II a retrograde movement would soon
take place. Sugar Refining has proved rare
money maker for the insiders. but II would be a
difficult task to calculate the losses caused by its
vagares to the people not favored with knowl-
edge Of the mechanism Of sugar speculation a
reflection OF this occurring to-day in the failure
Of Wall Street house which was presumably
heavily short Of sugar. Besides Sugar Refining
the anthracite shares attracted attention on &C.
count of the favorable decision rendered for the
coal companies by Justice Chester in the pro-
cedure taken by the Attorney General under the
new antitrust laws. by which 1t was sought to
compel the anthracite coal presidents to appear
as witnesses In an action to determine whether
there was an illegal contract among the coal
companies In violation of the antitrust laws
Of 1891 The greatest activity was in Read
ing. Delaware and Hudson made net gain
OF 9 per cent, while Jersey Central. Ontario and
Western. and Susquehanna and Western all
shared in the activity and upward movement.
the last-named gaining over per cent.
A development Of the day which also was re-
fected in the anthracite shares was the change
in the presidency Of the Lehigh Valley road and
the election Of Morgan interests to the directory
OF the company. 1t Is reported that the ulti-
mate purpose OF the controlling interests in the
property is to make the present president OF the
Northern Pacific the president OF the Lehgh
Valley system The change I'm control Of the
company was practically accomplished several
months ago when the holdings OF the Packer
estate were taken by J. p. Morgan & Co. and
Drexel & Co. The future of Lehigh Valley now
seems to rest upon a better basis. while the
effect Of the change in control must Of necessity
prove to be Of the greatest benefit In harmon
izing the various interests represented In the
anthracite coal business; and to this outlook
the immediate prospects are materially improved
by the Increased demand caused by the strike
In the bitumnous coal regions Chicago and
Great Western stock again attracted speculative
attention. and was bid up in the interests Of
well-knOwn Wall Street operator. who Is sup
posed TO represent the foreign interests I'm the
company. The company's earnings for the first
week in July show marked Increase, and the
fact that II has no bonded debt recently attract
ed some attention To the stock 1t may be re-
called that when the company was reOrganized
its bonded debt was retired by exchange for
stock The stock IL chiefly held by foreigners.
and its present price has not yet reached the
amount OF the assessment paid when the COM
pany was reorganized. which was 10 per cent.
The movement In 1t appears to he purely specu-
lotIve. like that In Des Moines and Fort Dodge.
which Ia being put UP by certain men who know
how 10 handle security market movements. az re-
fected in their operations In Chicago Gas.
The general course OF values to-day exhibited
an advancing tendency. and not O few stocks
closed at substantial net gains. Sugar Refining