The times. [volume] (Richmond, Va.) 1890-1903, 1900-05-24
SUGAR MARKET
VAS OBSTINATE
Refused to Advance in Spite of the
Efforts of Bulls.
STREET FLOODED WITH TIPS.
Which Promised Repetition Of the
Jump of Day Before, But it Did
Not DcyeIop-Railway Stocks
Fell in Price.
STREET FLOODED WITH TIPS,

NEW YORK, May 23.-An effort was
made TO repeat Yesterdays lively demon
stration in Sugar, in the hope that the
traders would find sufficient price move
Inent In that stock to yield profits on
the days turn, but the stock. developed
its customary obstinacy and refused TO
advance in any marked extent or to
hold what moderate gain was made. us
extreme range was ~, and it closed
with net loss of as. The street was
flooded with tips this morning, pronis-
ing q repetition of yesterdays sudden
Jump. ana the professional traders took
on stock quite literally. The closing out
of short contracts yesterday left the mar
ket without support on that account, and
the buying did not extend much beyond
the ranks OF the professional bulls
In spite of the announcement of a
further advance of Toe. q hundred pounds
in refined sugar, made by the American
Company and followed by the other re-
fncrs, there was not sufficient demand
for the stock to enable the traders TO
take their profits and the price was
brought back to about where it started
under the pressure of that process.
To-day's advance in the price OF reilned
sugar makes a total of 15c. a hundred
pounds during the week. and the quick
response made by all the companies to
the advance gave color to the persistent
assertion that a working agreement mas
been arrived at between the rival com
panies. The fact of q concurrent aVance
at the end Of the dull season in the
trade and with the large demand Incl
tracts from the protestatons made with
official sanction that business is con-
Quoted on present conditions on ruinous
terms, and that an irrepreSslble coHHict
still RACES between the refiners.
American Tobacco made further ad-
vance to-day. which was better held than
Transit was bid up sharply when large
buying orders were detected in the Slock-
In the general list there was some show
of firmness early in the day, but 1t was
md
the railway stocks drifted below last
nights level. The Paciiics 1lade the
best show of strength, especially North
ern Pacific. which was affected by Tu,
1uorss of an Increased dividend rate, ana
was benefited also by the timely rains IN
the northwestern wheat country me
buying of Northern Paclhc was aeIrio-
uted in part to Berlin account interna-
ttonal houses were sellers on balance 10
q small extent the foreign markets
continuing generally depressed. eouu;o,,,,
operators in stocks are preparing Tor
vacation trips to Europe. and some OF
the buying of stocks is std to be the
E1rope announced during the day, and
was not unexpected, and had little ef-
feet On the stock market 1t Is uhder,
stood that it is made possible by special
Inducements offered by the Bank OF
FRANCE. the occasion being the special
needs OF currency incident TO the Expo
The bond market was duh and small,
and Irregular changes in prices We're the
rule Total sales, par value Slo3o,oto;
United States new As registered ADVANCED
|: ana old As and SIS declined Is IN the
bid price. 90, -oo
shares
MONEY AND EXCHANGE.-Money on
call easy at l4G3 per cent; last loan al
= per cent: prime mercantile paper, ot29
AZ per cent Sterling exchange easy,
i-r, business ia bankers DIS AT