Evening star., 1897-04-08
Sugar Trust Monopolzed Activity
in Today's Speculation.
GOSSIP As TO G,laE TARIFF BILL
Dizziness One Of tbe Characteristics
Of EBAY.
MARKET REPORTS
'ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. April s-Dullness and sta.
bility were the dominant characteristics OF
today's stock market. American Sugar
monopolized the activity and added pei
cent to yesterdays advance. Consolidated
Gas was bought moderately for a gain of j
per cent, but the changes elsewhere were
confined to small fractions in almost every
instance
The persistent buying of Sugar has been
variously explained. but the most generally
accepted theory Is that a clique of shrewd
room traders have taken advantage of the
unanimous belief in lower prices, and have
forced q nervous short interest into cover
ing.
The larger commission houses. whose
dealings usually attract attention. by rea-
son CT the interests represented. have not
contributed to the advance. When ag-
gressiveness is arrayed against timidity. in
narrow market, the logic of a given sit
uation is useless incumbrance to a sue
cessful operator. This fact was demon
strated by the arguments of the active in
terest in today's market.
The possibility of the tariff bill failing to
pass the Senate because of it's increased
duties. which might not meet with the ap-
proval Of the tariff reform members, win ose
votes are essential to success, was repeat
in Sugar. That the general market did not
decline clearly indicates that no one seri-
ously considers the failure of the bill to be
included In legislative probabilities
1t Is well understood that the general
market would recede under such pros
pect, and American Sugar would scarcely
pc permitted to stand out alone in the face
of inadequate federal revenues
thr l-I.-
satisfactory. but once the short interest
has been wholly destroyed something more
reasonable Will be essential to substantial
market movements.
The friends of Chicago Gas became active
during the afternoon and forced sharp re-
coVery In the price of those shares, the
consolidation prospect again warranting
the belief In successful result. Under the
lnnuence of the easy recoveries elsewhere
the entire railroad and miscellaneous list
moved up under an increased demand from
both accounts.
The advances in Burlington and New
Jersey central were especial features of
the later dealings. These movements were
ror the most part confined to the ROOM
but serve to indicate the temporary change
In the sentiment prevailing among the pro-
fessional element.
The uncertainties. following the dissolu-
ton of traffic associations are gradually
wearing themselves ou:, and hopes are
entertained that some nxpedent may be
devised during the summer months to pre-
vent a conflict with existing laws on this
subject.
In the absence of unfavorable tariff devel-
opments there is little doubt that the pres
ent rally could be continued for a few days
The desire to even up contracts al the end
of the week may cause temporary set
back, but events of this character have
come to be regarded as entirely natural.
The reduction in the Bank of England dis
count rate indicates i continuation of the
present satisfactory money market and
would in all probability insure liberal for
eign buying If local interests were disposed
to work in harmony with that account.