New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-15
WALL STREET AND EXCHANGES

There smash yesterday In the stock Of the
Glucose Sugar Refining Company. Glucose" Is
not listed the Stock Exchange. but Is dealt In
ION the curb by outside" brokers. The common
stock which opened at 2224. dropped TO 25 AT one
time II solo az 81. The preferred stock fell from
81 TO 50 1t had sold high &C. Yesterdays de-
cline was precipitated by the formation at Chi-
cago OF opposition company. the Imperial Glu-
cose Sugar Refining Company. with A capital OF
100000. The previous decline in Glucose stock
had been attributed 10 the practical failure OF the
company's rebate system. The company offered 10
consumers who dealt exclusively with II a rebate
OF 4 cen. pound, payable In six months. An out
nois offered the same Tebafe paynBe at once
The price Of glucose was forced up from ~ cents
tie company. The price has since fallen untll now
1t is 81 %
diamond importing firm brought 10000 worth
OF diamonds from Europe just before the new tariff
law was passed The diamonds were put In bond
Under the old tariff the duty o per cent. Tn
der the new tariff It is 10 per cent. The diamonds
were exported to Canada and then remported with
the idea Of securing their admission 10 per cent.
Duty assessed at 10 per cent. with 10 per cent
additional. because the diamonds were brought
from contiguous country. This assessment was
confirmed by letter from Assistant Secretary
Howell, received at the Custom House yesterday.
The expenses of sending diamonds back and forth
was about per cent. Accordingly per cent would
have been saved by paying the % per cent duty
under the old tariff
There was reaction In stocks yesterday. Some
Of the net declines comparing the closing prices
with those of Wednesday. were: American Sugar,
rs American Tobacco. pa: Atchison preferred IL;
Burlington and Quincy, lSs; Chicago Gas Ia; Con-
soldated Gas. l; Delaware and HUDSON. !; Lacka-
wanna i Illinois Central ~; housSiile ana Nasn
~ Michigan Central IN: National IAnseed on.
~ Norihern Pacific preferred J. Umaha; a. k nga
ferred. l. and Leather preferred l..
Gold TO the amount OF 100000 arrived yesterday
by the steamship Lain for the New-Tork agency
Of the Bank Of British North America or this
gold $4,000 was deposited in the Clearing House
vaults The National City Bank denosed In TIE
Assay Office 500 % in gold: WHICH arrived for y
BY tho Ems from Genoa The Gsllaiin Nationa,
vaults making the total on deposit in three vaults
s6oOcono
There was another drop IN wheat yesterday. On
the New-York Produce Exchange December wheat
touched a3Ss and closed at 1875, against si's on
Wednesday, December corn closed at 3D.: against
EOS. on Wednesday. Export sales were 20 to oo
loads here and IS loads at out ports Export safes
OF corn were 20 loads.
Ex-Governor Roswell p. Flower has resigned tho
presidency OF the Colonial Trust Company on &C
count OF the pressure OF other duties. Ills success
sor has no; yet been appointed. Ex-Governor
Flower took the place only temporarily
There was A. sharp decline yesterday In cotton.
on the New-york Cotton Exchange January cotton
cotton deliverable in january in which the deal
ings were largest, touched 81 cents pound. and
closed at 62i cents against SO cents on Wednes-
day Yesterdays low price was the lowest price IN
r. January cotton sold at 5 IS cents. The cause OF
Yesterdays drop IN cotton was an es.'in I ny
NELL, the New Orleans statistcian. that tle new
CROP would he TO- 300 900 bales. On Monday January
cotton sold AZ GAG cents.