The Providence news. (Providence [R.I.]) 1891-1906, 1897-07-27

The financial situation today is Of moro
than ordinary interest owing 10 the fact that
traders and spectators undecided as TO
what course TO pursue. Investors realize that
prices today are about as low as they will be
for a long time to come and they are willing
to purchase stocks in spite Of any danger of
a reaction. II does not take veteran TO dis
cover that II the present conditions continue
stocks will certainly sell higher.
While the settlement Of lhe tariff and the
adjournment of Congress- most favorable
considerations, these are not the basic reason
or the strength Of security prices. Values
re advancing large crops and railroad
arnings. Looking ahead, IL does not require
\ large scope of imagination TO SEQ railroao
EARNINGS sufficient TO increase dividend re
turns materially, especially in view of the
present economies in operation. Specula.
lively, the market may witness quito roac-
tion from tho present level before the situa-
tion feels the result Of the crop conditions.
During the recent rise there have been doubt
ing Thomases in both Wall and State street.
These men have not derived any special ben
,ft from the advsnce, and there are others
who, having accepted their profits too early in
the advance, would have liked to have re-
covered their holdings at a lower price. They
and IL they do not purchase stocks at prices
somewhat near the present quotation they
q o liable TO be out Of II for some time to
come, fo-, whatever may be done now, the
market gives every indication Of higher val
ues later when the reconstruction policies of
today have been fully completed and when
the country rs "A whole begins to feel the nc
tual effect of our increasing wealth. At pres
mt IL d hn ba no
most selling of stock, and until different
eleTent takes hold Of things prices will not
break
I. jefferson Coolidge, the treasurer Of the
Amoskeag Manufacturing Company. says to-
day: ''The general situation is certainly i'm
proving. / think that after the magnificent
crops we have had for the past two years in
the west and the short crops IN Europe, il
must mean a great deal of money for this
country. Tho famine in India will prevent
exports from there, and Argentine Is short so
that with our magnificent crops we are in a
position TO profit by the unfortunate position
of other exporting countries The country
looks prosperous. Railroads are making more
money than they have made for many years.
can't see. however. how we ca expect 10
derive any benefits from the Ia III for some
time to come, ,nnd IL must take year TO work
of TIE great quantities of sugar, wool and
other articles on which tho tariff has been
raised and which have been imported in an
tic,pation Of the tariff"
In regard to Reading and the coslers. il is
given out today that somo new arrangement
among the anthracite companies has been
effected and that the question OF Susquehanna
q Western control plays part in the matter.
As the result, several good judges believe that
Reading will soon become bull leader.
Sullivan Bros. g. Co. say: We believe that
The public and the Street has covered its short
Sugar and the ieh-priced stocks in general,
and we believe that this class Of securi les are
on the downward tack ana will sell from 10
TO 20 per cent lower than the closing figures
on Saturday. The manipuators are working
on the long side of Manhattan, Reading,
Southern Railway preferred and some OF the
spccialties which will undoubtedly do better
during the next two weeks We earnestly adj
wise tho sale Of Sugar. Burlington, st. Paul
Chicago Gas and Northwestern on Thursday s
allies"
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