The times., 1897-08-20

The present condition and tendencies
of the New York stock market and its
probabilities for today may much better be
judged by the last Ia If hour of the market
yesterday and by the close than by the
whole day. During the whole morning
the market continued TO hesitate, fol-
lowing the trend of Wednesday, and UT her
reports that the tenpera ture in the West
is unfavorable for the development OF corn
seemed to have more or less effect. There
was pe'ceptihle disposition TO wait and
ascertain whether any real ia mage had re-
suited, as in that event a materia decline
would not he unlikely in the stock OF roads
that are more or less dependent On the corn
yield for traffic. London was a seller on
q limited scale, as it has been for tie most
part during the last several weeks. The
market was on the whole irregular and
heavy.
Later on there was d fresh batch of
favorable railroad earning reports, that
frcm the Louisville and Nashville road
being especially good. During the latter
part of the day stocks became stronger
as well as more active. At the close
the tore was firm and steady. Taking
the whole situation into account and the
Inability of the bears to cause any de
ciGcd decline yesterday with all the ad
v;Itaees they had, 1t seems proba BILE 10
most careful readers of the market that
the feeling Of the last hour will continue
today, and that there VIII be decided
tendency to advance. This is despite
the fact that many stocks yesterday closed
at u lower figure than the opening.
Til" action of Sugar yesterday was en
tirely independent and at variance with
the remainder of the market. This was
so t. quite a remarkab able extent. During
the morning, when the rest of the market
was weak and seemed to be on its way
DOWN. ard, Sugar reached the record price
again, turning the half century mark
Sugar fluctated during the afternoon,
but Until a few minutes before the close
was strong at 149 IS In the last ten
minutes of the market 1t dropped off a
whole point and closed at 14S 81, as all
the remainder of the market was going
up. However, Sugar is unaffected by corn
and wheat scares, and espite the factt that
the common stock had gone up long way.
it is according to the logic Of the situation
not as high as the grangers at the
present time. Added to that, the manipu-
lators of Sugar seem more determined
to raise it than any clique now interested
in railroad stocks.
Predictions are thick that $50 will be In
significant before the dividend is declared
on the stock next month Sugari Is now forty
points above its figure during the spring,
before the rise on tariff prospects began
The stock has increased in value ou ac
count of this rise $4,000, 900.
There have been ruinorsof extra dividends
in sugar and of an Increase in the regular
dividend from l. 2 to 6 per cent. Estimates
of the great advantage the Dingley tariff
bin gives the trust over any previous law
are frequently and freely made. No
body now doubts that the Dingley bill gives
the trust millions OF dollars annually thatit
docsn' t deserve.
With all these forces and with the
seeming determination of the insiders OF
the trust to Continue buying sugar stock
nothing has SO far been able to stop its
upward march. No matter how the re-
mainder of the market looks and acts sugar
has been strong all the time.
1t was freely predicted last night thai