The Providence news. (Providence [R.I.]) 1891-1906, 1897-09-10
FINANCIAL.
Everything on the Road
to Higher Prices.
ST. Paul & Burlington Pass
Par First Time in Years.
Genera Improvement Reported in
Ton. OF Local Mark:t.

As Holmes & Co. remark TODAY. this is a
year OF surprises. We are getting them
every day, and not the least Of these was
the agility with which the market recovered
from the period Of depression that prevailed
ye terday. Late yesterday afternoon stocks
commenced to show more buoysncy and the
opening this morning was fully up to the
expectations OF the specuators. Moreover,
the feeling in Wall street seemed 10 have
changed and everybody appeared TO be look
ing for higher prices.
For the first time in IL Yeas st. Paul has
PASSED par, and thers seems 10 be little doubt
now that Burlington has followed suit, that
Rock Island will be in tho van. Consoli lated
Gas touched 2l9 today and Chicago Gas il
firm around los. The friends Of r Twin Gould
are predicting 50 for Missouri Pacific. and all
along the line one hears stories Of prospective
higher prices.
The fact is that the business OF the country
is growing. II will contin>e 20 increase rap
idly for while TO come, and as the railway
mileage remains stationary, il follows that
There must DC immense increase IN earnings.
Watson n Gibson predict. ther fore, that for
the next year at least the railroads of the
country will Dc independent TO an extent not
witnessed for years. With traffic pressing
upon them, they can stiffen up their rates
and Top off unproitab business. II is small
wonder, therefore, that the prices OF the rail
way securities continue TO advance as the
character Of the imnending change in con
ditions dtwns uron the financial world.
The Chicago market was very stin today,
and those who look for higher prices fouhd
plenty Of encouragement The Corn Trade
News "a :: Tho late rapid rise in wheat
was certain 10 insure lot of profit taking
and this, and this alone, has been the cause of
the relapse, for il the iaw Of supply and de-
mand alone had bee operative prices would
have continued on the MP grade, for the
avariable supplies continue 10 dwind,o, threat
ening TO vanish altogether without leaving
even a wreck behind"
C.Franklin Nugent 4 Co. furnish the follow
ing facts in regard to the local stock market: 4:
The volume of transactions in local securi-
ties this week has again been encouraging.
Prices of most OF the stocks are higher, de-
mand better and supply less. Bank shares
have for the first time felt the change of con
ditions AIRY one comparing the prices of
this class of securities toiay with the prices
of two weeks ago will see much cause for
satisfaction. What all this means is not diff
cult 20 sec. II means that business improve.
ment is not only probable, but that IT j. al
ready fact. Whom stocks that are bought
and sold for investment only, and not for
speculation, show marked improvement we
may, without fear of contradiction, assert
that business is better. In confirmation Of
this view are aFo the reports of the mercan-
tile agencies for the month OF August These
-.pprt very large increase in sale, OF all kinds.
'$a consideration of III 80 facts, IL ~ .-ht
bs woll for the man who has little ~. re
money G. look about him and put 1t int
Iomc honest enterpii'e and hold on FOR tie
advance which Is pretty sure 20 come"