The Providence news. (Providence [R.I.]) 1891-1906, 1897-09-15
FINANCIAL.
The Market Today is Ac-
tive and BuOyaDt.
Several Stocks Reached Rec
ord Breaking Prices.
Higher Quotations Are Expected in
Wheat, Corn and Cotton.

The market was In as healthy condition
today as il has known for some time, ard
stocks were as buoyant as they were active
All the original bullish influences romain and
new lines are constantly developing. IL ~ a
bull market and II has to be looked at from
this standpoint II 1t is looked Ht consistently.
The loan market Is up 10 212 per cent and
lots of loans have been made at that hgure
The shipments 10 the west are large ana IL Is
likely that the rate will go still higher, and
on the other hand, per cent money mar
kot would attract gold from the other side
The bull card that was played yesterday, as
Watson g. Gibson explain, was the easier
rates for sterling exchange, which foreshal-
owed gold import IL the money market hard
ened. Money loaners agree that interest
rates do not promise To become dear. but
those who have had experience with these
branches of financial affairs can remember
several occasions in which they have seen
bankers making loans at per cent one ddy
when within Is hours they shook their heIds
when loans were asked at per cent.
London quotations this morning were
stronger, and a. the result prices on this side
responded. After the opening such disro-
sition 90 buy was shown by the public that
the figures reached were IN many Instances
higher than any that have yet been seen. ST.
Paul, for instance. was l02 Consolidated Gas
.2s. General Electric 4lls, National Lead AZ
Canadian Southern 6lls, New York Central
ia, Omaha S9l4, Northwestern l32i4, Manho,-
tan ll2i., Kansas-Texas preferred AZ and
other stocks firm IN comparison.
In Chicago the market was firm and active
after the opening decline Foreigners bought
at the high prices, but the profit takings on
this side were in sufficient volume 20 carse
quite n recession from the opening prices
The fact remains, however, that Europe IL
still at our feet. TlS foreign supplies are
constantly showing greater decrease, and as
there is but one country 20 which they can
look for their grain supplies, II seems as If
higher prices must be assured
Considera /, attention Is ing paid to the
cotton market this week owing TO the general
advices that higher prices are TO prevail. One
OF the big cotton commission houses says TO-
day:
I've find a remarkable unanimitv OF opin.
ION that cotton il cheap, cbearer than any
thing on the speculative lists, but, none the
less, tho public continues to hold aloof, with
a perversity only characteristic Of the specu-
lative public. This Is all wrong, as we have
insisted time and again. The popular policy
is 20 wait until there is move on We
say again. Don't do it, Get your interest
on any recession, and. If able, increase IL on
any successive DIP, even doubling your limo
Zach time. You will then be- delighted at tho
quick and profitable returns, when the mp.
ward movement gets fairly started. We are
so confident Of the ultimate appreciation Of
the great staples price that we almost feel
like nudging our patrons and whispering,
Buy cotton and forget it, Later on we
will remind the lucky ones oS their holdings
and point with pride to our told you So -"