The Providence news. (Providence [R.I.]) 1891-1906, 1897-10-25
Market Irregular and Un-
satisfactory.
BEARS ARE HARD AT WORK
General Opinion Is That Scares Are
Unreasonable.
LOCAL STOCK MARKET IS QUIET.

The market today was decidedly irregular
and unsatisfactory. The reports OF impend'
ing trouble with Spain over tho Cuban ques'
tion, In spite Of the emphatic denials OF secre'
tary of State Sherman, had disheartenins
effect upon those who were willing To pur-
chase stocks under favorable circumstances.
While the conservative people on the street
laugh at the repeated warnings that we have
not yet heard the last OF the Cuban question,
there are plenty Of people who are timid
enough to sell upon all such reports
The uncertainty In regard 10 the New York
election is another depressing fnctor, although
why it should be SO is mystery tbas few
men can explain. IL ~ believed that Horny
George has about as much chance of being
elected mayor of Greater New York fs he had
Of heing president OF the United States, but rs
long rs he is in the neld, cert,in electors
claim, thero Is always danger of q possibility
being realized, and this Is enough 10 make
some Of the weaker buyers timid. Macy n
Pendloton. in speaking of this matter, say ;
when the country examines the election
returns in New York, there Is nkoly TO be
renewed interest In the value q securities.
Those getting into the market earlier than
that will be able u congratulate themselves
on their oversight IN anticipating confrma-
tion of last years decision, The continued
increase of the favorable foreign trade bal
ance, coupled with the Improvement and
activity in business everywhere, as compared
with last year. can have but one result. The
railroads, North and South are carrying
about all the freight they can handle bota
ways. Such exceptions there are only APP
pear 80 emphasizS the rule and aid traders 10
make q contrast with the great record being
made in other seciions. The totals for the
year can hardly fail TO exceed those Of any
previous seasons business, except one, and
the dividends thought likely month ago are
almost certain TO be forthcoming in due time.
A quiet confidence is succeeding TO the con-
fusion of ideas which some uncertainties have
caused, and day by day prices harden as one
after another of the sold out summer buyers
come back as investors" "
Joseph says today: Western Union is
good investment. 1t has yielded more con
sccutive dividends than any other corporation
in the country. The GoulGs promise 20 give
their support 20 Western Union. and 1t is
quite within the bounds Of probability that
in due course the management will see its
way of restoring dividends to per cent
basis As compared with other per cent
stocks Western Union is chcap I'd in posi-
tioE to be bulled. Chicago Gas promises to
be quite feature again this week, and the
insiders are talking higher prices for tho
stock than any that have been recorded since
IL came on the board. -Four weeks ago ii sold
Mt l0S34, and il is worth more today than it
was then because of the removal of all posi-.
bic rivalry. not 10 say competition
II is expected that the decision In the
Nebraska maximum freight rate case will he
handed down today, and the best opinion is
that it will be IN favor of the railroads. fact
that would have n most excellent effect upon
the prices OF the Western group.
The Chicago market was distinctly weaker
today, and the prices that were recorded this
morning were entirely without regard to pre-
valing conditions.
Albert L. Miller, .Ir., reports that tho past
week has shown fair inquiry for local in
vestments, although the buyers are still seek
ing for bargains. The market is well supplied
with stocks but there is little or no disposi-
tion to sacrifice Them, and whilo prices in
many instances are exceptionally low, few
sales are noted.