New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-13
SUGAR STILL THE TOPIC.
LITTLE PROGRESS MADE ON THE
SCHEDULE YESTERDAY.
MR.. MENERY. OF LOUISIANA. OPENLY DECLARES
HIMSELF A NORTHUMBERLAND OF
DEMOCRATIC CHARGES MADE
IpY TELEGRAPH TO THE rRIBuNE.l

DEMOCRATIC CHARGES MADE
APPARENT.
Try TELEGRAPH TO THE rRIBUNE.l
Washington, June l2.-Practically no progress
was made with the Tariff bill in the Senate to-
day. the completion of the sugar schedule being
DELAYED by the failure Of the Republican caucus
10 settle existing differences of opinion over the
continuation in force of the Hawaiian reciproc-
ity agreement Olly one amendment was voted
on-that offered yesterday afternoon by Mr.
Jones. OF Arkansas-and it was beaten by
majority Of three.
The chief feature Of the days debate was the
logical and broad minded justification of his
vote on the pending bill by Mr.. McEnery. the
protectonist Senator from Louisiana Judge
McEnery took the broad ground that protection
must necessarily be National not local. In char
acter. and declared with candor that he saw
reason for refusing to other sections and indus
tries the same measure Of protection which he
confessedy sought for the industries of his own
State Judge McEnery's speech was listened to
with marked attention on both sides of the
chamber.
VESTS ABSURD CHARGES RENEWED.
Mr.. Vest renewed this afternoon his taunts Of
yesterday that the rise in the price of sugar
stocks since the change made in the sugar
. schedule last Tuesday direct evidence that
the new duties were intended to be highly ad-
vantageous TO the sugar refining trust Inc
gravity OF this charge and of the similar one
made by Mr.. Jones, of Arkansas. and Mr. NILS
Of Texas may be judiciously determined IN the
light of little history in which these three
statesmen figure Senators Jones. Vest and Mills
were the special committee of the Senate FL
nance Committee which recast the Wilson bill
IL their
sugar on the free list. When it emerged from
their consideration tariff had been placed upon
sugar with special advantages to the refiners
When those gentlemen took charge Of the bill
early in February 1894. Sugar Trust stock was
selling in the markets of New-York at 1923.
During the month of March. while they were
considering 1t in the alleged privacy of the com
mittee room, Sugar Trust stock steadlE au-
vanced and touched 100 during the month"; dh
increase of 33 per cent. When the Dill was re-
ported TO the Senate and taken up for discussioi
in April, Sugar Trust stock continued 10 au-
vance. touching 1918 in April l09Ss in May. ana
reaching HAS on August y. after the Dill ue-
nounced by President Cleveland as one OF per-
fdy and dishonor" had been accepted pF the
House and sent to him for his signature mus
Sugar Trust stock advanced G6 per cent in value
from the time that Senators Jones. Vest and
passed it to the President for his signature
THE REAL FRIENDS OF THE TRUST.
Sugar Trust stock when the House of Repre-
sentatives met on March II. 1897. was worth III
IN the markets of New-York. Yesterday it sold
a. 125ls an increase of { per cent In value from
the time of the presentation of the Dngley bill
in the House until the vote upon the sugar sched-
ule in the Senate. The proof of the pudding is
in the eating If the manipulation by Senators
Jones Vest and Mills of the Wilson bill was fol-
lowed by an advance of 66 per cent in the value
of Sugar Trust stock. and the consideration OF
the Dingley bill in the House, Senate Finance
Committee, Senate caucus and Senate was 1oi-
lowed by an increase of only Z per cent IT should
3 not take very great amount OF calculation 20
determine which party or which set Of men or
which bill befriended the Sugar Trust. The fact
is that the advance in sugar stocks in the last
week has been due TO other considerations
rather than to any action by the senate caucus;
nor has the advance in sugar stocks been so rapid
as that in other stocks. This mornings reports
from the New-YOrk markets say: The upward
movement in the stock market has acquired a
momentum that for the time Is Irresistible one
STOCK after another becomes active and advances
easily rejecting the paucity OF the offerings OF
stocks and the constantly increasing demand
Indeed an examination of the market reports
Of the last week show that the Sugar Trust stock
has fallen behind other important stocks IN the
general advance which has been made Inc IN
ooraasa IN value of Sugar Trust stocks in the last
week has been per cent, the increase IN the
yalue of Pacific Mail stocks 10 per cent, and IN
Northern Pacific preferred 13 per cent. CThese
figures. il should be understood, do not relate to
the number of points" advanced, but 10 the per,
centage of gains in value over the prices quoted
one week ago.
The falsity OF the charge that the schedule
agreed to by the Senate caucus Is more advan-
tsgaous 10 refiners than that Of the present law
Is shown by the fact that even with the remark
able advances which are due TO the genrai I'M
proyement in stocks the price now reached Is not
as high as that reached under the Wilson law
before il was known that a change In that law
was probable Yesterdays quotations give the
highest rate at 1854 which is less than the sell
Ing prices Of last year. these stocks having
touched 1865 in April, 1896, before the PUBIC
had an intimation that the Wilson law, Whlch
had brought an advance Of G6 per cent IN sugar
Trust stocks was likely to be repealed.
Here is the history of the Sugar trust STOCK
from the time Senators Jones. Vest and MUS
took charge of the Wilson bill in February iso+,
down to and including yesterdays quotations.
February 1894. 1873; March, lS.4. lOO1s; APp nH'
1894 1913; August 1894. 1141s June IS9o'
1913: April, 1896, 1263s; June IL. 1871 lZoA'
THE DEBATE IN THE SENATE