The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-26

NEW YORK, April 25.-Sura- Refining
was the sensational feature OF an other
wise rather undressing stock market
and its course WAS also exceedingly efeo-
tive in shaping the drift OF prices In the
general list. The stock opened very fever
ish and sales were recorded al nearly ~ O
points below its final figures Of yesterday.
Subsequently. however, the stock enjoyed
remarkable advance with the transac-
tions in tremendous volume.
As was TO be expected. the rise in tte
stock was attended by the usual and fanil-
lar rumors that the control Of the company
was in process Of change. and very definite
statements could be heard that the trans
action has been already consummatsd.
There we're the other usual rumo:s Of a
settlement Of the trade war. but the latter
met with the prompt and emphatic denial
Of the head OF the Sugar Refining Company.
Mr. Havemeyer also disclamed any knoVl-
edge as 10 the changes OF developments IN
the general affairs OF the company, in
GLIDING the rumOred buying Of control by
other interests.
Hence the advance in the stock was not
directly OF definitely accounted foI. and.
indeed. IL seemed TO be the general Opia-
ion that the rise in Sugar was nothing
more than one OF the ordinary movements
that have previously characterized its mar
ket history. On the other hand. the re-
ports that certain interests, and, as usual,
the Standard oil party. were prominently
named in this respect had already &C
quired a very large interest in the prop
erty. we're repeated with unusual def
niteness and detail and certainly it would
appear that something more than the Tur-
chase OF an alarmed and extensive short
interest in the stock would be necessary
TO account FOR its course.
However that may be the rise in Sugar
served to check the sagglng tendency Of
the remainder Of the market and il was
attended by a number OF sharp recoEeries
elsewhere. For one thing, it served TO
put a stop to the aggressive selling for
short account, which has been in progress
in the market throughout the week. and
which had become particularly aggressive
and even offensive in its methods.
An engagement Of gold for shipment 70
Europe, amounting 70 S250,000, was an
nounced today, and now that the movement
has begun It will probably be continued
Internationally.
The London money market continued 10
rule firm today. while the local money mar
ket was altogether unrufled and wholly
unaffected by the gold shipment London
houses were moderate buyers Of stocks
here, and the American quarter Of the
London market was reported very firm, |
although the actual quotations showed ir- /
regular changes. larger number Of /
traffic returns for the third week OF the |
month were submitted today, and for the |
most part they made excellent showings. /
Most notable Was st. Paul, although yes |
terday's pessimistie prophecies were cur
rent In regard to the latter company's |
statement
The dealings were very well distributed /
throughout the market, although the sg-
sregate transactions attained only a fair 4
total. Recoveries we're common in the /
market after the opening irregularity. and 1
n q number of instances the rapid ad- 1
vances scored were confrmatory OF the |
idea expressed above, that the rise in
Sugar was decidedly disconcerting TO the
over-extendcd short interest.