The Providence news. (Providence [R.I.]) 1891-1906, 1899-09-16
FINANCIAL.
BULLS AND BEARS.
A Weeks Record Of Liquidation In
Stock Market.
Bad Bank Statement Was The Final BLOW 10
The Bull Hopes.

Wan street, Sept 16.-A bad pahk
statement was the final blow at the So
lar plexus that knocked out a grossy
market. Except in Brooklyn transit
there was no evidence Of ne 10 the
market after the opening, ana prices
hung In the fashion usual to Satur-
day SESSION while waiting for the puo-
lication OF the bank statement.
They didn't hang after the statement
appeared. That impressive piece oi
arithmetic came out with uhusuai
promptness and the whole board wen.
70 pieces, although il was not so pdu
showing IL the market had Deen IN pet-
ter condition 10 stand IL. But the tnaI i
kct was i'm no shape TO hold up dsa,iiss s,'.
further knocks, and off went PrioSS
tumbing over each other IN their IL
yalry 90 get To .Ae bottom.
Brooklyn Transit, which mas leu .te
collapsing procession for thiS NeIn' 1,
alone stood fairly firm. Everything else
was hammered 10 stdndstlil uI'i, VI, ..i'
stroke OF twelve cut the tradins shor''
1t was a pitlless bear triumph.
Three weeks ago IL was polnteo GU, III
this correspondence. as shown py ens
comparative table of prices pupliSnea si1
every Saturday, that for the hrsl tiiile
since early i'm June the quotations. oil
the standard stocks recorded shsh'
falling off.
This loss was but fractional, ana
meanwhile stock after stock was TAX
ING hold and enioying the fruits OF the
bull enthusiasm. NeNertheless lrao-
tional losses for the week ending Au-
gust 26. when compared with the CLOS
ing figures of the week ending august
49, was a s.gn. as is now proved tlas ts
ths wedge had been entered that WouIu
shatter rhe high prices and collapse the
whole fabric.
There was a subsequent rally IN the
standard shares that carried prices as
high or higher than they had Deeh De
6re these first fractional losses were
made. But since then everything has
come down with "A run. Even 1. I IL
has dropped thirty points. sugar as In
the dumps. The railroads are weak ana
"A general state OF discouragement mas
sudd enly replaced the early august
sentiment OF bullishness. Indeed, so far
as the figures sAow anything they lndl-
cate that the bull market OF the past
three months was "A liqu dating market
and not "A movement for higher prices.
Something OF the rapidly OF the fall
Is told i'm the price changes or the
Grangers which were the leaders OF the
movement that has now eliminated Tor
the time being. st. Paul has fallen
from 136 To l2s In ten days. I'm the same
time Rock Island has slumped from III
20 nearly ia. Burlington has fallen
from 13S 10 13l. ex dividend, which
makes II worth about 1929 bouisviiie
ia off from "a to 20. These VI must De
remembered are not fancy speciaities
whose movements are guided py tne
vague future. but are standard hlgh-
interest paying stocks. Evidently there
has been no furious demand on the
part of Investors for even such excei-
ient stocks as these az the quotatlonss :
that have prevailed during July anu
August Whether they are low elous,'
vet TO invite the Investment class, WnIeI'
rraify makes a market substantial - d
grave question. ,. 20
The week now closed is a week OF
losses. Beginning with the week enuIns
August DC. the losses have been creep
ing in and replacing the gains until IN
the past six days they have run Ii'o
Imposing proportions. II mas peen !"
rostlv week for holders OF long stochs'
and the bears have triumphed LOT
season. liz. ,ah,as
The following comparative 'aples
show the relative changes Tor the weN
IN the standard shares. ana sucn spe
,ia1ties as have been particularly ao-
I've.