The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-10
SLAUGHTER OF LAMBS
SHAMELESS Being Set Up BY
the Sugar Post
PRICES BEST AT CLOSING
Gold Shipment Has no Effect
Upon the Market.
PRICES BEST AT CLOSING

New Yor. June Slate this afternoon
occurred one Of those slaughters Of the in
nocents around the Sugar est on the floor
Of the Stock Exchange, which have come
to be looked for as a periodical incident in
the history Of the exchange. For weeks
there have been direful predictions that
the end of the Sugar company as a doml-
mating factor in the refining industry was
at hand, that the fight of its life was on
its hands that the suspension of dividends
was imminent to carry on the war. and ali
sorts of disastrous predictions. Gentle
men supposed TO be versed in the inside
affairs of the company have either been
silent, with an expression OF plaintive sad
ness. or have freely admitted their con-
viction Of the truth of the worst that could
be said. Many persons. attracted by the
prevailing high level of Sugar, consider
ing these conditions. have sold the stock
very literally, with the expectation Of 5uy-
ing back when the collapse came. A great
many Of these bought their stock TO cover
short contracts today al a level nearly %
points above that at which the direiul
predictions had carried it. Inside inter
ests became averse 70 selling and held
out tenaciously for the higher price. This
exciting and painful incident closed a day
of uniform strength throughout the mar
ket for securities The action Of the mar
ket was very similar TO that OF Yesterday
the early strength centering in the New
York traction stocks and the Changers
The bears made an Intellectual attempt to
check the advance by raidiug down Con-
tinental obacco over 3 points. They turned
Sugar backward Il. points but without
marked effect on the general list. Later
there was realizing in the New York trac-
ton groups. with reactions of about 4
point. The vigorous strength developed by
coalers again turned the market upward
The same thing happened in the last hour
when the professionals took profits in
Sugar and the traction stocks. The recov-
cry began IN some OF the obscure stocks,
Des Moines and Fort Dodge rising AZ.
Consolidated Gas points and the Wiscon-
sin Central new issues 2G2ia. Peoples Gas
and Steel and Wire also come late into
the advance the latter on Il publ-@Eed
opinion by a director in favor CT a divi-
dend on the common stock. Then Came
the rush in Sugar. which made the last
prices the highest OF the day. The net
gain in Sugar was 6&s. in Brooklyn Tran
sit points in Metropolitan Street Rail
way ga, in Manhattan points in the
coalers from 112 in Delaware and Hudson
and New Jersey Central 70 AZ IN Lack
awanua, in the grangers from l TO ~; in
many standard stocks a point or over.
The announcement Of further shipments OF
gold was without the slightest effect on
the market. as was the continued large
selling for London account. An improved
tone for the copper properties was an in
cident in the days market. Anaconda ris-
ing 2as.
The total sales Of stocks today amount
ed to $3.50 shares including: American
Steel and Wire. 50 30: American Sugar,
1890; American Tobacco. $3.50: Anaconda.
400: Atchison preferred. q. 500; Brooklyn
Rapid Transit $500; New Jersey Central,
32a0 Burlington. 27.4o; Chicago, Milwau-
kee and ST Paul. p 400 Rock Island. 300;
Chicago. ST. Paul and Minneapolis, 400;
Consolidated Gas 3"o; Consolidated To-
bacco. 196O1: Delaware and Lackawanna.
100; Des Moines and Fort Dodge. 100;
Federal Steel $500: louisville and Nash
vile. 300; Manhattan. POO. Metropoli-
tan Il 9OJ: Missouri Kansas and Texas
preferred. $500; Missouri Pacific. 800;
New oYrk Central 9o1; Northern Pacific,
500; Ontario and Western 200: Penn
sylvania 5000. Peoples Gas. u 2o9; Read
ing. 500: Reading first preferred, = 40;
do second preferred. 800. southern pre-
ferred. 400: Union Pacific. 500; Union
Pacific preferred. 10: Rubber 4Gs0; Wis
ccnsin Central 800; Wisconsin Central
preferred. 1000.
The lealing stocks closed as follows: