The Providence news. (Providence [R.I.]) 1891-1906, 1899-05-27
BULLS AND BEARS.
Sugar Smashed TO Smitheresns in the
Short Session.
Whole Market Was Limp as 'Lassss and
Looked a Loser Quotations.


Wall Street. May 27.-rhe utter de-
moralization OF Sugar was the feature
! OF the brief two hours session of the
Exchange today as a suggestive wind
| up 10 a week of limpness, uncertainty
and general duTlness. Sugar. which
was up around l63 early in the week
and has been crumbnng ever since.
went all to pieces in the first hour this
morning and after feeble attempt at
recovery plunged down still further.
closing around the lowest figure, l45.
This is nearly two points below the re-
cord made two weeks ago when the
sudden death OF Governor Flower shook
the whole market.
Everything else on the board wabbled
There was no health In the list any
where, for all some trivial attempts at
rally on the part of the Granger and
Steel stocks. The Flower group were
al limp and decidedly Irregular in their
movements. Good tratr--were scarce,
Sugar on the short side Offering the on
ly opportunity for the quick operator
and that was enough To satisfy the
most venomous of bears. Early in the
week IL was given out publicly that
keene and Boston brOk n were buying
Sugar for all they were worth and the
outside traders. having no inclination
to sell any 10 them, bought too, on this
interesting Zip. The result is shown in
this Moons slump figures.
A. compared to the close Of prices one
week ago the average is generally low
en- number of stocks have made alb
solutely new low records. while the
whole list has been astonishingly feeble
and suggestive of a further decline
when the longs that are in them grow
as disheartened as they have been i'm
Sugar. Prices have held at easing off
igures. but except for spasmodic
Whirls in some OF the specialties there
has been nothing to indicate "A relief,
more than temporary, from the general
liquidation. Transactions have been
small, TO be sure, but il is significant
that where activity has appeared In the
list IL has been on the downward side.
The stocks are evidently arranging to
take turns for a shoot Gown the chute
and some OF them have been quite un-
able 20 restrain their impatience TO get
away and get To the bottom first
The drop began with the Tobacco
stocks, extended TO New York Gas and
metropolitan and was vigorously taken
up by sugar Which groups will be
next would be hard to predict but that
there Will be next, and several OF 1t,
no careful observer of the market hesi-
ldlcS W btllcNt. III n NOIu the HldTkeQ
quietness OF the past few -daAS-MhlcA-
proverbaily means making ready for
rise in Wall street. in this instance pre-
sages a fail, In there is any reliance to
be placed In the evidence afforded by
the occasional movements that have
taken place this week. Lower prices
are looked for and very much lower,
in those stocks which have
shown such an apparently grace dispo-
.ff q f,,. a.ta nd h. In,
brought on the market by the drops OF
the past three days.
The Exchange is closed on Monday
and Tuesday and the fellows who are
short OF the market nave no fear of
what viii happen for the balance OF
next week. 1nere Is no news TO ex-
plain the sinking spell which the mar
ket Is suffering from, but IL is OF SO
acute a nature that even an excellent
bank statement, far better than was
expected, was powerless to stay it this
forenoon.