New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-17
BONDS.
rur nays OPERATIONS IN STOCKS.

Tho common stock Of the American sugar
Refining Company resumed. under the liHuei0o
n, rnanipulation its old-time buoyahcE III yes
terdav's market selling thirty points apoNe 10
close on Wednesday while ending the Gay al
net gain Of 1S@, points. or course 'he s"oi -
we're severely punished In some cases l"e'
suffered enormous losses, and furnished IN 'heir
,ro,ssctions faithful examples of the general
rosuI,e which usually attend Sugar Refining
speculation But it is not likely that uauers
will heed any warning that may be given IN
,,,,rg Illustrations or In cold type; for despite
the fact that nine men lose while one man Wits
IN Sugar the stock remains the popular 1aVorl'e'
At times dominating the market and apparently
always possessing an influence from Whlch le"
onerators appear to escape. While sugar was
being sent higher the shorts in Manhattan SUI
tered similar punishment. as did also the 10
hacco shorts who earlier in the day SUCCEEDED
IN decreasing the price of that stock about seven
points Various wild rumOrs followed the ad-
vance IN Sugar II was said that the trade war
had been settled. that the company hao an
sorbed the Glucose Sugar Refining company
and that the Arbuckles and HaVemeyers hau
met and fixed things" But these ana otheI
similar tales were the result OF fancy, so far as
could be learned the chief factor In the pear
manic doubtless being the shrewd manipulation
by the controlling interests in Sugar Refning
stock
When Sugar moves up thirty points IN one
6av and Tobacco goes down seven points ana
then IN nine points. while Manhattan ana lesser
specjalties fuctuate erratcally and violently
speculation cannot be considered altogether
healthful. At the same time. however such d
"round up" Of the shorts often indicates the be-
ginning Of a vigorous bull speculation mat
there was little public support in the general llst
was reflected I'm comparative quieiness ana un-
willingness on the part Of the railroad STOCKS 10
respond TO the advances In the mahlpula'eu
issues burlington and AtchisOn preferred. both
of which contained large short interests, haue
The most noteworthy exhibition Of strength and
activity among the railroad list, exclusive of the
traction stocks: which also Were eXI rI's; ,
crossed par and Metropolitan Street RAILWAY
made a high record price. OF the stocks when
showed legitimate speculative and investment
buying Peoples Gas was the most conspicuous
4 & ner cent stock in times Of easy money and
prosperity selling at 1l6 is not dear and II Is
rot likely to rule at that level for any length ol
time. all conditions remaining uniformly faVOr'
able.
OF the total dealings in stocks amounting &c
953775 shares Sugar Refining supplied one
third. and with American Tobacco Burlington
BROOKLYN Rapid Transit. Manhattan, People
Gas Atchison preferred Glucose Sugar Rein
ing. Continental Tobacco and metropolitan
Street Railway furnished the bulk Of the day
dealings And Of the total sales 452 OG
were made in the unlisted department Of tn
Exchange. In the afternoon attempts wer
made 10 induce a general buying movement OF
. the theory that the beginning ~ a Legitimate
bull campaign under way but the respons
was not encouraging; and near the close rap
advance in call money rates checked all en-
thusiasm The best men in the Street are bull
ish however and short selling is not TO be com
mended The greater number of stocks shove
final net advances