THE COLLAPSE OF "ELECTRIC SUGAR" SHARES.

Waikato Times, Volume XXXII, Issue XXXII, 9 March 1889, Page 2 (Supplement)

THE COLLAPSE OF "ELECTRIC SUGAR" SHARES.

A. Liverpool correspondent telegraphs: —" Until on the Stuck Exchange and throughout tho whole commercial commiinity i'f Liverpool the topic of conversition on Thursda , January 3rd, was tho full in Electric Sugar .ihares. The news reached Liverpool in (he form of ;i cable from the company's office in Now York to the office in Liverpool. It was to the effect that doubts as to tho process were fully conKrnied. Another telegram remarked:—'This disclosure terrible; cannot realise it. Tho unfortunate holders of tho shares, however, appeared to bo fully ablo to appreciate the position, for immediately on receipt of the new*, «hie.h was confirmed by another telegram of a private nature of another source, the sale of fehares comuioncvd. A small lot bad just been doue at £80. The next transaction was at £10, and the lead having been given, pales proceed at £15, £12, and down again to £10, the prices remaining about these figures during the afternoon. The shares are £20 shares, fully paid up, and it is estimated that about a third of the subscribed capital is held in and about Liverpool. Up to August last the market price remained about £25. In that month the price ran up to £85, and from that time a steady upward course folI lowed, until £U6 was reached. Since then they fell again, until the level of j £80 was maintained for tho last few days. Despite the apparently authentic nature of the cablegrams upon which the excitement of Thursday was founded, there was not wantiug those who looked upon them as a Stock Exchange manoeuvre."