The Providence news. (Providence [R.I.]) 1891-1906, 1897-09-01
Sugar Certificates Con-
tinue to Advance.
Some Wall Street Men are
Looking For a Reaction.
Chicago Market More Active ani
Stronger This Morning.

The market today was decidedly ir-
regular. Sugar continued its advance
to l59 Missouri Pacific struck 40 and
several other stocks were strong. On
the other hand. however. there were weak
spots that while they showed but fraction
al declines were more conspicuous owing
to the strength displayed by the rest of
the list. 1t was this, perhaps, more than
anything else. that seemed 10 bear out
the opinion nf such men as j. >. BacEe
q Co., who have been reactionists for
more than week past Bacho says
today: 1t is hard To say when this
outside buying power will; be filed up
but as soon as the larger room traders
see any signs OF this power exhausting
itself they will make an attack on values
as they have been laying for chance in
the past week or two TO bring about a
reaction.
While this may 30 true, it is none the
less evident that the public is still in
the market and is likely To remain "a
purchaser for some time to come. On
each concession the buying power that
is evidenced is OF most encouraging
character and up to the present time it
has certainly been sufficient TO offset
the efforts of the ombined powers OF
reactionists and bears.
Watson d Gibson say today that the
most striking feature Of the present
situation is that every business man
in the country stands convinced that we
are on the eve of good times and a
money making epoch. Each person.
therefore, is cudgelling his brain to see
low he can have some of the money
which the busy bees of industry are
going to make. Each person feels that
If he does not make something out of
10 he will be very stupid. The result
is action on the part uf III ore people
than has been observed for long time.
We make the effort and the stock and
grain markets naturally invite the
adventurous
9. G.. &5 l., was among the issues that
attracted attention today owing to its
material advance. Ii is stated by good
people that while tho Improvement in the
iron ana steel trade has not yet attained
sufficient proportions as To entitio L. G. |.
To such rise, IL is very liable To nave a
further and very marked advance owing
tothe fact that it is the speculative repre-
sentative of the iron industry.
. After It's advance 10 30 this morning,
Mis- souri, Pacific declined TO 81 on the
large realizing sales, which were partly
due TO the ieverish action of sugar and
tobacco.
A Boston dispatch states that the delay
IN the issuance of tho Burlington report
for July is due 10 the change in the
fiscal year so that 10 shall hereafter begin
on July !, instead OF January !.
Tho report of Manhattan for the year
ending June 80 has been made. IL shows
n deficit after the dividends Of SlGj 34S.
The. report ,of louisville Nashvilles for
July shows n net increase of Sl2I III
The Chicago market was active and
stronger oil around today. The feeling
prevailing was that both wheat and corn
were sure to mare higher prices-whcat
because our crop will not be large
enough TO supply nearI~ all the foreign
demands. and corn because tho. failure OF
the rye and potato crop Of the world
leaves the people no other substitute.