The Providence news. (Providence [R.I.]) 1891-1906, 1897-08-03
FINANCIAL.
Today the Market is Un-
usually BuOyant.
Bulls Control and Make
Record Breaking Prices.
Som. Realizing of Profits Followed
by Hearlsh Operations.

The market today was as buoyant ms any
that we have had In some days London
came higher this morning. and AS the result
the bull operators took things in their own
hands and proceeded TO mako some record
breaking prices. Chicago Gas sold at l0l 3-s,
the first time in ifs history Rock Island passed
50. Burlington 50 and Consolidated Gas led
the list for activity, passing from lS to- 1879
during the first hour. Naturally the entire
list was higher in symrathy and the quota
tioas that were recorded made reactionists
wonder what they had been talking about
As Stuart a. Paddock said yesterday, there
are occasional SET backs. but the bull market
continues. and IL seems 10 gather additional
strength with every additional point advance.
The only point 10 he decided now Is which
stock Is most likely TO be tho next one that
will show good profits 10 the buyer.
There has been considerable realizing of
profits and more or less bearish talk on ac-
count of the gold exports. The only eject
~~hown in the market, either by liquidation or
by adverse comment, has been n slight hesi-
tation and fractional dcclines from time TO
time. Then the market has recovered its
streneth and everything lost has been re-
gained in the course of an hours trading.
The fact is that this is bull market and that
the discovery that the advance of the high
priced securities has not stopped with the ac-
tvity of the cheaper properties should assure
the speculative public that the end il not yet
in sight Watson a. Gibson say today: 1T
looks as il the time was not far distant when
one will not inquire whether the low priced
stocks are in line for dividend not II
may satisfy the buyer to know that cliques
voluntarily or the public inyoluntarily are
engaged in putting them up. When a specu
lative mania ia once excited reason resigns
her place 10 credulity and good times run riot
in the markets. We are only in the vsstibule
OF speculation. There is great deal Of room
inside yet 10 fll."
A better feeling certainly exists in the an
thracite trade, where active fall business
is looked forward to, and any colieries are
again being worked. The prices of coal are
firmly held and rumors of n further advance,
at least for the high grade Goals. before Sep
tember are heard. The production OF
thtacite coal is now Mt the rate of 100000 o
tons per year, and prices are well above 81
per ton.
Sullivan Bros. & Co. say today:
Everything that we read il full of bull IN
formation on the New York stock market.
All our friends on the Stock Exchange still
continue to grow very bullish on the stock
market. We are bothered TO death by bull
tips and bull information at the highest
prices that many stocks ever sold. While we
have been very bullish ourselves on thu mar
ket during the past two months, we see
nothing TO warrant the advance outside OF
the usual manipulation that visits us about
every So often.
''On Monday, July 2Bth we turned bearish
on Burlington, Rock Island. 81. Paul Sugar.
Northwestern and Chicago Cas- with the un-
derstanding that " they passed the high
prices they had already made we would again
commence TO bull them. Chicago Gas has
passed the pivotal point, 90 5-s, which is the
sure signal Of higher prices. Watch Sugar at
liGs4. b. @. at o "a, Rock Island at 50 3-s, st.
Paul 80 3-8 and Northwestern al lIS34. Passing
these prices buy them mt tho market. other
wise sell them and keep short of them for n
good decline of at least ten Toints.
should business throughout tho country
enjoy one-half the boom that New York
stocks have had recently, the states would be
transformed into n voritable Klondike' "
In the local stock market the Trenton
Chemical Company was listed for the first
time today. The preferred sto-k was quoted
mt d2 bid, and the common stock nj Is bid.
The Trenton Chemicl Company manufac-
lures Empress Powder. and Henry Il. winship
Is prsident and Frank J. Clinton treasurer.