The San Francisco call., 1899-06-10
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK June 9.-Late this afternoon
occurred one of those slaughters Of the inno-
cents around the Sugar post on the floor OF
the stock Exchange which have come to be
looked for as n periodical incident in the hiI
tory of the exchange For weeks there hay1
been direful predictions that the end of the
Sugar company as a dominant factor in the
refining industry was hand, that the fight
OF its life was on its hands that its suspen-
sion of dividends was imminent to carry on
the war and all sorts OF disastrous predic-
tions. Gentlemen supposed to be versed in the
inside affairs of the company have either been
silent with an expression of plaintive sadness
or have freely admitted their conviction of
the truth oI the worst that could ne SAID
Many persons attracted by the prevailing high
level of sugar. considering these conditions
have sold the stock very' literally with the
expectation of buying back when the collapse
came. A great many of these bought their
stock 70 cover short contracts to-day at a
level nearly % points above that which
the diretul predictions had carried It. Inside
interests became averse to selling and held
out teuaciously Tor higher prices This excit-
ing incident closed a uniform strength
throughout the market.
The action was very similar to that Of yes
terday. the early strength centering in the
New York traction stocks and graagers. The
bears made an Intellectual attempt check
ADVANCE by rallins down continental Iooacco
over 3 points. They turned Sugar backward
II points but without marked effect the
general list. Later there was realizing in the
Ne" York Traction groups with reactions OF
about point. The vigorous strength developed
by ccalers again turned the market upward.
Again the same thing happened in the last
hour, when professionals took profits in Sugar
and the Traction stocks. The recovery began
in some of the obscure stocks Des Noi9es-
Fort Dodge rising ~, Consolidated Gas points
and the Wisconsin Central issues 2d2je.
Peoples Gas and Steel ana Wire also came
late into the advance, the latter a pub
lished opinion by a director in favor Of a
dividend on the common stock. Then came
the rush in Sugar which made the last prices
the highest OF the day. The net gain it
Sugar IS 64s in Brooklyn Transit points in
Metropolitan Street Railway 55s, Manhattan /
points, in the coalers from III in Delaware
and Hudson and New Jersey Central, to AZ
in LaCkawanna; in the grangers from to IL
over. The announcement OF furIner shipments
Of gold was without the slightest effect on
the market. as was the continued large sell
ing for London account. An improved tone
the day market AnaCOndas rising pa. The
market for railroad bonds was rather more
active to-day and prices tended upward. There
was very large buying Of the Reading and
Colorado southern issues Total sales par
value. s., 135 500.
United States Is advanced =, but the 3s
declined = in the bid price.
The total sales Of stocks to-day amounted TO
65S. shares, including: American Steel and
Wire, $500; American Sugar. 81, 800: American
Tobacco $500; Anaconda. 400; Atchison pre-
ferred. 27,S00; Brooklyn Transit 43 300; New
Jersey Central, 3200; Burlington, "a 400: Chi
cago. milwaukee, and St Paul %, 400; Rock
solidated Gas, 1900; Continental Tobacco l9 coo :
Delaware, Lackawanna, I100 Des Mones and
Fort Dodge 1900. Federal Steel. 1880. Louis
Vile and Nashville 1000; Manhattan 81 600
$500. Missouri Pacific, $500; New York Central
5sVU; Northern Pacific, $500; Ontario and West
ern, y. zoo; Pennsylvania, 5000; Peoples Gas
li'2l0; Reading, 37O0; do first preferred 1S 4OO;
DO second preferred. 300; Southern preferred
zlt0; Union Pacific, $500. do preferred 400 /.
Rubber 4690; Wisconsin Central 31OO do pre-