it, and the excitement grew as the demand increased.
The scenes on the floors of both the New York and local
boards were most exciting. Blocks of 500 and 1,000 shares
changed hands frequently, and at one time the quotation in
the Boston market was fully four points behind that of the
New York list. The small army of shorts scrambled to get
covered up, and everybody was in a fever of wild excitement
over the marvellous movement. Before it had culminated the
price reached 170, or a gain of twenty-nine points over the
opening--the most remarkable display of strength in so short
a period of time that this remarkable stock has ever shown.

Broker Lawson did the buying, and while the excitement was
running high he bought freely. He had taken 20,000 shares
all told before the advance had fairly gotten under way at
from 143-1/2 to 144. At 170 he gave an order to sell 20,000
shares at a limit of 155, and obtained an average of over
160, thereby netting an estimated snug profit of $250,000 or
more within two hours. Asked as to whether the strength in
Sugar meant a settlement of the Sugar war, Mr. Lawson smiled
and said: "There has never been any Sugar war."

The conservative people on the Street are disposed to regard
the whole movement as a piece of clever manipulation.

* * * * *

[From the _Boston Herald_, March 16, 1899]

Mr. Thomas W. Lawson was the mover in the deal, and his
orders for 20,000 shares early in the day excited other
buying, which encompassed the astonishing rise. What point
Mr. Lawson had to trade upon is his own asset, if he had any
point, and it would not matter so far as the event was
concerned whether he had a point. The market was in a
position to respond to orders of these dimensions, and it
did respond.

* * * * *

[From the _New York Journal_, March 17, 1899]

The frenzied brokers fought like madmen around the Sugar
post. The wildest sort of excitement prevailed throughout
the day. The rest of the floor was practically abandoned,
and brokers crowded, pushed, elbowed, and yelled frantically
in their efforts to fill orders. There was no warning. The
sudden jump of the stock almost threw the brokers into a
panic. Men became ferocious in