The Providence news. (Providence [R.I.]) 1891-1906, 1897-10-11
In THE WORLD
OF FINANCE.
Lower Prices Prevailed
in Wall Street Today.
HIGHER PRICES PROBABLE
Important Statistics Concerning
Supply Of Wheat.
HIGHER PRICES PROBABLE
PRICES IN LOCAL STOCK MARKET

In spite Of the feeling that higher prices
were 10 prevail, the market opened on ihis
morning, and while there was but little ac'
tivity much lower prices were recorded IN
many instances. The market Rdvices do not
change however. Today Macy g. lendleton
say: Sometimes the buyer gets undue nd-
vantages from the timidity Of those who
have securities products In hand and do
not fully realize the advantage OF their po'
siiion. The record OF average prices OF u
large number of staple articles manufactured
or produced in the Unitei States shows
higher than any previous month in the past
two years and indicates that since June hrst
there has been "A steady increase In value,
doubtless caused by the increased consump-
tion due 90 reviving courage and larger prohts
OF enterprise and labor. The best judges Of
the general conditions of United States have
predicted steady growth Of substantial pres
perity, which these figures seem 10 confirm.
When the record of sp. culative markets is ex-
amined we find the same features preaomi'
nate there Consumers are steadily and
quietly taking agricultural and mineral
products at higher prices and in larger guam.
titles than heretofore. while manufacturers,
merchants and traders are quietly and
steadily increasing their responsibilities and
activities with corresponding gains. This i'm.
provement is not local, but general, extend
long from ocean 20 ocean aud from the lakes
to the gulf The gift of prophecy has en-.
tirely passed If man may not take such
facts as these and make out OF thom fabric
OF hopeful anticipation. That any extremely
radical views wlll find much foothold in any
quarter or find any stimulus out OF the local
election is not "a probability. 1t is the old
story; courage Will bring the cash, as IL IA
during the whole of 1871"
Stuart Is Paddock also say: During the
week tito market has assumed hrmor tone,
yet very irregular at times. The extensive
shifting of the active shares has placed them
IN tionger hands, whore they are not so
liable TO be dislodgei by any ordinary ru-
mors. Tho Supreme Court decision. which
wid Le handed down within tho next two
weeks, we believe will have no adverse effect
upon prices. The last symptoms OF the yellow
fever in tho Southern states will soon disap-
pear and railroads in that section assume
their normal condition. Trafli returns Of
nearly all roads show very large gains for
September and large gold importations are
only prevented by the prevailing high rate of
foreign exchange. Taking all factors into
consideration which are liable TO influence
pflcts curing the coming week. VIC look iOf u
narrow trading market. Buy stocks only on
recessions, and take .rnall profits"
In speaking Of the present conditions Sulli-
van Bros q Co. say: THE stock market is
still working n little lower with good rallies.
enabling the buyers on weak days and the
sellers on strong days TO make money. IL will
continue traders market for somo weeks 10
come. The undertone is very strong In the
general list, owing 20 many favorable con-
ditions that help control the market These
conditions will continue for long time TO
come ana gradually grow stronger. which
viii give tho buyer more protection than be-
fore in many years. Still we are Of the opin
ion that manipulation Will surely leave tho
market at "a lower level before Congress
meets ngan. Burlington and wheat are the
safes sales on every little bulge and on a
scale DOWN"
Tho Chicago market attracted little atten-
tion today, although it was not particularly
active. Bradstreet's monthly report shows
the increase i'll available stocks in tho United
States, Canada, afoat for Europe and in
Europe since July l 20 be from a. iO2, 269
bushels 10 92,l59,0o0 bushels on October /.
The net increase of available supplies both
coasts, the past three months, irrespective Of
that afloat and that OF Europe, is 1880, 600
bushels, against 9. l2s, 900 bushels during the
same time year ago, and i,63O,00o tho same