The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-24
FINANCIAL NEWS
Continued frontage 3D.
A REVIEW or THE MARKET.

The market during the past week has
been perfectly safe one for traders who
were willing to take advantage Of 3-s or
6-S of a point profit. There has been
scarcely time during tho past six days
in which scalp OF this kind could not
be gathered in at either end. AS gem
eral thing, however, stocks have been in
clined 10 inactivity that was anything
but inspiriting to spectators. Sugar, of
course, has made its usual pilgrimage up
! and down the board, but as conservative
| traders as general thing do not look
with favor on line of securities that
might easily be made to call them for
several points a day, they have bsen
content 10 put little of 1t in their tea
and coffee and to leave it alone on the
board.
While the bears have had control Of
things this week and while IT is possible
hat they may be somewhat successful
in depressing prices for several days to
come the faci remains that this Is a bull
market with big B. Last weeks bank
statemeDt was unquestionab BILE evidence of
the country's present prosperity. People
have been following a bear market for 30
long however, that 1t u hard for them TO
understand that 1t is possible that there
should be q change in the condition OF
compare them with tn ,se that were in
order DUNG the dark and hopeless period
that has passed, and then they talk
about reaction. They forget that less
than four years ago Burlington was sell
ing above l0S, Rock Island between 90
and 100, and ST. Paul between so and 90.
They cannot conceive that 1t is possible
that prices should stay where they are or
even GO higher when the simple fact il
that values today all along the line are
extremely low. lake any Of the low
priced stocks, such as Wheeling, Hook
ing Valley, Reading, Norhern Pacific pre-
ferrec, any Of which are safe as pur-
chase todny. If they go lower there will
be still more profit for, unless the best of
prognosticators are completely at sea,
every one Is a purchaser today, and the
present pricess are nothing compared to
those that will he reached during the
next few months. Bears may attack
prices. war scares or other Idle rumors
may depress values but the decline will
be temporary, while the accents will be
steady. The country today stands upon a
more solid foundation than IL has rested
upon for over fifteen years, and while
lhere will necessarily be bear raids and
psriods of beaTishness the Successful
tracer will be the one VINO keeps long OF
the market.
The sentiment regarding Bay State Gas
today is better then 1t hes Deen for some
upon this company was nothing more
than the trescherous trick of a clique of
Delaware politician. and was entirely
without reason is gaining cr.deuce ana 1t
IL belle We that the final outcome OF the
trou blss will be far more favorable than
has eeer expected.
here 1, any amount of bullish talk on
Sugar; the soft cosl deal Is n sufficient
argument on which to boom bituminous
properli s; the talk OF ter cent. civi-
dend for burlington comes from people
wto ought to have some reason for the
faith that In in them; IL is stated that the
crowd that Is booming Western Union
expects -haYe-tt-Hrouud e5 before
Christmas, and that the new preferred
stock of Northern Pacific will certai ly
earn 8 per cent cividond. From among
oil this bullisn gossip, supported as IL is
by the present prosperous condition of
: ings the most conservative trader
Shouts he bic TO tina some raw Of hope
strong TO inspire him to make
q purchase.