The Providence news. (Providence [R.I.]) 1891-1906, 1897-10-05
IN THE WORLD
OF FINANCE.
The Stock Market Again
Irregular Today.
REACTION A HEAL THY ONE
Stocks Said to Be IN Better Con-
dition Than Before.
SOME OPINIONS OF OPERATORS
REACTION A HEALTHY ONE
SOME OPINIONS OF OPERATORS.

The market continued its irregular course
today, but those who believed that the tide
had returned found good evidence in its ac'
tions 10 hold them TO that opinion. They felt
that II the bears had been able 10 force n
long campaign we should have already had
evidence Of that in decidedly lower prices.
As the market has remained firm. however
1t il taken as an indication that tho end is in
sight and that the decline that the market
has experienced was nothing more than a
healthy reaction that has left stocks in bet
ter condition than they were before.
In speaking OF the conditions today, e j.
Knight ~ Co. say: The increasing earnings
of New York Central bavo led 10 heavy abb
sorption OF the stock by commisson houses
and buying has failed to put mp prices simply
because the Lond II selling has been 50 great.
1t Is stated upon good authority that tn Sep
tomter earnings will break the record, and rs
soon as London censes TO dispose Of iis hold
ing material advance may be looked for.
one OF the best srbitrago houses on tho street
admitted today that the foreign spectators
had actually stopped selling the general
list and that some OF the traders on the
other side were now buying few OF rhe most
speculative stocks 81. Paul attracted con-
siderable attention at this time owing 10 tho
belief that il ought to be selling way above
par. The earnings of the company for the
fourth wee, Of September show IN increase OF
Sl3O, ~, and when one stops 20 think that
while these railroad earnings arc showing big
increases and that gold will soon flood the
country from the other side, as well a. the
fast that The market Is now comparatively
free from the small trading element that re-
iarded It's advance, he can only wonder that
the bull movement does not progress more
rapidly"
This seems to be the prevailing ofinion
,mong The good Wall street houses, although
here are advices today that the bull move
uent in Manhattan is at tan end for the pres
INT and that Missouri Pacific will be the next
stock TO lie carried higher.
The fact is that everything at present is in
line for higher prices. The prospect that
Spain and Cuba will settle their difficulties
without it beng necessary for US TO have a
finger in the matter has had an excellent
effect upon tie public feeling. and as long as
all the conditions are 30 favorable the public
will buy stocks so freely upon every decline
or concession that IL will be impossible for
lstors 10 inaugurate a camraign Of lower
prices.
The Chicago market was rather inactive
than otherwise today, although good buy.
ing power was developed upon such reaction
and higher prices are now talked for both
wheat and corn.
Albert p Miller, Jr., reports that there has
been some little inquiry for investments dur
ing the past week, but there Is little dspo.
sition TO sell at the present prices.
The bank stocks are becoming more active
and some of the more desirable ones are be-
ing sought for. This Manufacturers. Mer
chants, Providence, National Bank cf Com.
merce and the National Exchange Bank have
all paid their usual october dividends.
A noticeable feature in the market is the
strength Of the insurance stocks There has
been constantly increasing demand for
these securities for some time past and they
arc now quoted at about the highest figures
recorded during the past decade.