The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-18
FINANCIAL NE VS..
Another Day of Surprises on
Wall Street.
Stocks Hitherto Taken Slight Notice
OF Going Up.


Special to The New.
NEW YORK, Sept. is. There is a very
good reason for believing that the stock
market will not suffer any further mate
rial reaction. In times gone by, when
there used to come slumps Of from to
per cent. throughout the general list,
most securities were selling upon an
equality, whereas now there is such q
graduation OF prices that anything OF
further formidab BILE break can easily be
averted. BY graduation" is understood d
that a score or more OF stocks now selling
in the teens, while others are between 30
and 40, and prices range say from 81 TO
slSS a share, ii is easy TO take hold, dur
ing these periods of reaction, OF the low
priced fancies, force them 10 the front
and thus impede what otherwise might
be a very serious recession. A good
many traders recognize this condition,
and consequently they are turning their
attention TO the low-priced securities,
and Will buy them, because they appre-
ciate that these can be so rapidly ad-
vanced as 10 effectually stop anticipated
bear tactics. That the golden opportuni-
ties have not all gone may be seen by
comparing the prices of today with those
that prevailed on Thursday, February IL,
1892, when the total sales actually re-
corded upon the tickers amounted 10 /, 452-
613,a nd even this extraordinary volume
did not include stop orders that were va
150, 600 TO 200, 600 shares.
Although II is only three and one-half
years since the great coal com binaiton
was effected, and Reading sold up in a
couple of days from the 40's TO 6534, react
ing almost as smartly as il advanced,
there are few who recall the prices of
stocks that prevailed then, and who are
still insisting that the figures now re-
corded for active and inactive specialties
alike have discounted all that is likely to
take place in the future for many months
TO come
Although no immediate dividend is
likely to be forthcoming on Chicago
Gas, the stock, II sold at all, should only
be put out on the rallies, and then taken
back on any little decline. Ii is certain
that some very strong interests are buy
ing Chicago Gas, and they believe that
by the time the company re-enters the
dividend paying ranks, Gas will be sell
ing well above So and in the interval all
legal obstacles Will be removed.
ToDAY's STOCK BOARD.
WALL STREET, Sept. Is. The stock
ma.ket opened active and strong. Chi
cago Gas was in brisk request and touched
66l4, an advance of III over yesterdays
closing. Pacific Mail and New Jersey
improved per cent, and Tennessee Coal
gained y per cent. Speculation was reg
ular after 10:15. Values receded fraction
ally, then improved, with the gains in
some cases quite pronounced, namely:
Lead, 1os; Sugar, Flint a. Pere Mar
quette preferred, and Lackawanna j per
cent. Canadian Pacific sold up 2ls per
cent. Share values receded with consid-
erable celerity, ana Pacific Mail went off
lis, Leather preferred III and general list
ls to " per cent.
The pressure to sell against the general
list abated somewhat after IL O'Clock,
but the market weakness was noted in
~ ff,ras barA
cially Erie preferred, which yielded 2li,
and at noon rallied per cent. Sales to.
noon, 1856, 400 shares.
GENERAL FINANCIAL NOTES.
A London special says: "The excel
lent showing OF traffic returns by st. Paul
is having good effect here, where there is
an increased speculation in Americans.
London today is firmer, Reading leading
by about l2 advance.
This weeks market has shown that IL
is a trading one and purchase on weak
days, and a sale only on the advances
The treasury statement shows s96, 3S2,-
52S.
About 81, 900, 900 to 81, 500, 900 gold is
likely to go out this week.
Texas Pacific earnings for the second
week of September decreased S7431; from
January 1 to September IA. decrease,
s1642.
William Rockefeller thinks an issue of
government bonds inevitable.
Wabash earnings for the second week
OF September increased S2S, ,S54.
Wheeling x Lake Erie earnings for the
second week increased Sl3l3
Canadian Pacific earnings for the Sec
ond week of September increased SIS. 600;
from January To September Ia, decrease,
S37S, ,00o
London spot Copper, 49, los; futures,
as. 175d; market weak at is decline.
Joseph says: "St. Paul earnings, Sec
ond week OF September, S737, 35S. This
means comparative increase of sS7, $780,
or, reduced TO working dayA Si23, 900 per
day. Just bull ST. Paul, and when the
stock Is Csmmackized or raided, buy
more. Hold Pacific Mail for 40; 1t will
sell at co within year.
Sterling Exchange closed firm yester-
day.
Oeirichs & Co. have engaged s150, 00C in
gold for shipment tomorrow. Messrs. w.
n. Crossman q Brother say that they OK
pee, to ship, but have not yet decided
upon the amount.
The First National Bank OF BROOKLYN
has deposited $3.50, 900 in gold at the sub
treasury in exchange Tor green backs.
NEW YORK, Sept. Is. --Clearings S10S,-
139, ,6l2; balances, f5,97s,7i9.
snw YORK STOCK QUOTATIONS.
kHPeETsD NJ sILLER a vAusHAs
2 Z Il