Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-25
FINANCE AND TRADE
Sharp Slump in Price of American
Sugar Stock.
GOOD BUYING OF UNION PACIFIC
As Rule the Market was De-
cidedIy Irregular.
GENERAL MARKET REPORT


Special Dispatch to The Evening Star.
NEW YORK. August 25.-London prices
were adversely influenced this morning by
the financial disturbances at St Peters
burg and the holiday tomorrow. Locally
there was a further tendency toward profit
taking in many instances and a pronounced
demand for certain specialtes. such as
Union Pacific and the coal stocks. Irregu-
iarlty and increasing symptoms of nervous
ness were apparent throughout the day
A sharp decline in Sugar unsettled the
market and encouraged traders sales in
the recently active department
The cut in refined sugars. followed by
cut on the part of the Arbuckle refineries
was today followed by cut under both
companies by the Doscher establishment
Hard upon the latter announcement came
rumors of an organized attack on the
American shares in the hope of forcing
them under 1,N. The decline brought in
supporting orders. however, and the raid
was temporarily stayed
Consolidated Gas was advanced some
thing over per cent during the morning
under the influence of rumor predicting
an early adjustment of the gas war
After the first period of covering had
passed the price lost about one-half of its
early gain. The Industrial list in general
was particularly susceptible to the selling
and failed to do more than hold opening
IA ufiuci d ueCTtdStu NDluule OF trading.
Some organized buying was evident in a
few OF the railroad properties. Ontario and
Western was bought in way to suggest a
desire to acquire stock rather than TO adj
vance the price. Large orders have been
executed in these shares during the week.
and the inference is that the low price has
attracted a following who rely upon reap
ing some future advantage from an anthra-
cite coal combination.
Rumors of a dividend on Reading first
preferred during the fall, while difficult of
acceptance in conservative circles, served
to attract attention to the coal shares
Union Pacific preferred was literally
bought on the prospect of the full per
cent being declared at next weeks meet
ing, making the stock a per cent invest
ment around prevailing prices
In Missouri, Kansas and Texas power
ful and experienced clique have Joined
forces in an effort to force a more accurate
market reflection of the changed fortunes
OF the company.
Southern Pacific is expected to show a
handsome increase in July earnings. but
the interest credited with the recent ad-
vance Is less aggressive than earlier in the
week and short selling is In progress in
addition to the natural willingness to take
profits on the rise.
Rumors of an unfavorable bank state
ment were circulated during the afternoon,
prices selling of in consequence. on this
decline commission houses We're moderate
buyers, but business of this character has
not increased during the last half of the
week
The market is in one of those periodically
mixed conditions which arise from distinctly
opposite movements in different groups in
stead of the uniform effort of all active in
terests. AT such times discrimination is the
chlef requisite for successful venture
The market for the immediate future is
likely to be most active in such issues as
nave pool support. Brooklyn Rapid Tran
SIT and Tennessee Coal and Iron bear tes-
timony to the market value of friendly en-
thusiaSm.