Omaha daily bee., 1897-06-13
STOCKS AND BONDS.
Sugar Loses the Persistent Strength IL
Hns Show II for seNernI MeeLs

NEW YORK, June l2.-Sugar asserted its
leadership OF the market quite empnatically to-
day, and the tone OF the market was almost
wholly dependent upon developments in IL. The
Obvious fact tlat there selling to take profits
on sugar the potent influence in causing
realizing sales in other stocks. The consequence
Is an average IOss for the day in the prices OF
stocks. There was vigorous manipulation H.
sugar 10 hold II AT the h!gl level and even
70 raise ihat level On the strength Of benefits
to accrue u The company from the sugar schedule
adopted 10y the senate. But those who have
benefited by the weeks rise in Sugar argue that
the present price represents the value the
STOCK from The senate's action and that the next
ntu-nc" 20 be taken account Of is the conference
committee II the two houses. As the action OF
this committee viii. in all likelihood, be less
favorable. rather than more favorable TO tle re-
fined sugar industry than Is the senate schedule
traders were Inclined 10 discount future foli
IN prices There was some short selling IN
sugar IN accordance with this view In addition
to realizing sales. which combined To carry ta-
price down nearly points from the
resented fully enS-hftn Of the total ae,
down prices throughout the list ana practically
9nliterated early gains, except IN few Instances
The coal stocks we're quite notably strong IN
thrse stocks make MP the only group In which
there is ans short interest left after the recent
'nhiuHn1s advance in prices This fact hai no
imaH Da't IN tlday's strength IN the sto ks but
atR mot save them from feeling rhe effects Of
extent 10 wipe out the earll gain. In fact, New
Jersey Central rallied {" near the top price,
Tobacco Was higher upon manipulation The
los priced shares showed Ereat gctiyity and con-
uuued strength. Brooklyn Rapid Transit leading
the Improvement with a gain OF IA per cent
In the decline which affected the whole market
Kansas * Texas preferred showed the extreme
fan among the railways of "A point. The gTaug
( were comparariv inactive and novel
within very narrow limits but ci-seI with frac-
tiouEl net losses
THE week just closed Is the third showing con
tiUued aggressive strength IN the STOCK market
The market has been sustained an week gy the
aggressive strength uf sugar growing out ~ the
/ agreement ot the n-uuls Ut senate republicans
upon a sugar schedule which g. viewed with ap-
pIgral hy The friends ut Tie sugar company THIS
! being the case IL Was natural tlaI the wlGlr
market should give way 10 a degree 10 the break
! IN sugar today ou realizing sales. Bur the
/ week. ne'trihnles. presents q whole another
step forward .u The press toward "a higher rungr
! ~ prices Whlch has been gnllg ever since the
senate took up the tariff hill ami demonstrated
/ that n could dispose ~ II witt reasguabIe
promptttude This Wiya ne decision Of the
supreme court against tie right of the int erstat
] commerce commission tU tiN tie railroad rates.
/ gave the distinct impetus e. the mgrKet whicn
! has endured eyer since. The most strikina-
/ feature pf the market has bee4 comparative
I inactivity hut hrmnsss q the granger sI1ckz.
which strongly lei the early improy-m- They
/ haye halted iawarI the latter part at tha Werk
while the other grnlI's m TIE marked Were taken
/ in hand and brought up fp their level Proies-
slonal traders have wrought this result largely b.
! the selling u grangers 20 take profits ami put