Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-20
Sharp Manipulation in American
Sugar Stock.
ENTIRE INDUSTRIAL LIST STRONG
Traction Stocks Also Shared in the
Buoyancy.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. July 2o.-The strength OF a
few specsalties gave the entire market an
undertone OF strength this morning. but
the movement was more professional than
ever. The news from China was construed
to be encouraging. but the main situation
has lost nothing OF its former gravity The
prospects for a long struggle are conceded
and. in the long run. some commercial ad-
vantage will be gained: but conservative
bankers are not disposed to yield the opin-
ion that the money markets will be dis
turbed AT some stage Of the difficulty.
The present professional character Of the
trading is due in a measure to the lack of
confidence In commission house circles
Some of the largest houses IN the street
nave discouraged participation In this
weeks advance to the temporary disad-
vantage of their clients In spite of the
caution in these quarters the market shows
a strong tone and an ability 10 advance
under moderate purchases
The manipulation Of Sugar WAS m. rea
ture of today's trading. the demand being
from pool sources and the room Tho nra
diction that ten-point advance would be
recorded during the week was fulfilled at
today's top price Offers to buy the next
quarterly dividend at . per cent were part
OF the tactics employed to accomplish this
result This attempt to suggest an advance
In the regular dividend rate from a 70 \
per cent is not consistent with the preyLou.
view that the regular rate would not be
changed. but that extra Disbursements
would be made from time TO time
In American Tobacco there was an at
tempt TO duplicate the movement in Sugar
which met with some success In fact The
entire Industrial department moved nm IN
sympathy with the success in the leading
movement
Inc Traction stocks were all strong under
mixed demand. In which the covering OF
snort contracts was a feature The
sIenSth OF facihc Mall is taken as an in
uicanon OF wider trade In the east The
uh"i!lingness to charter steamers nv Inc
company is quoted as evidence of acriyI-
" IN the company's regular field
Ihe railroad list was strong but the de-
niand IN that department was less urpan,
than elsewhere. The Peci6c s,ocL sent
wen taken and gave evidence of nov hu,,
ing. IN Atchison the premature tisrussIon
OF uiIidends on the common stock was re
spoIlsiple TOT some buying by small CLIQUE
Interested IN marketing the preferred
London advices predicting the reonsnins,
OF diplomatic communication with P.kin
ana announcing the removal of foraigD
ministers TO places of safety had a cheer
Sb,,, ,Iliiuehee on all the security markets
ohoulu such a condition be really assured
the present market would In all likelIhood
settle into long upward stride until do
Hestic politics became dominant
Inc banking operations at the subtreas
ury nave resulted in a loss TO the local
banks during the week To ubat $50,
this loss has been offset by the inter,or
currency movement is not definitely known
put II is likely that the net result will moi
be unfavorable. Some evening nm OF CO.
tracts by traders resulted in an irregular
market during the final hour but sentiment
was decidedly hopeful. ~