The Providence news. (Providence [R.I.]) 1891-1906, 1899-06-17
BULLS AND BEARS.
The Market Dwlndled Into the
Dumps.
Values Have Shown a PRETTY STEADY Sag
Snce a Week Ago.

Wall Street, June 1.-THE market
closed ingloriously after week OF
shambllng up and down and a steady
weakening I'm interest. When a trader
offered or was invited TO make a trans
action this morning, n looked much
as tnohsn some Onc ada jas. as..ou
hm Tor lne loan or a dollar at mo-
ment when he was looking TO borrow
"A quarter himself. There Was more or
lees ionesomeness around ali the posts
Mnere so mucn activity was uIspIGyed
Just one week ago when the shorts
nere scurrying 10 get into the cyclone
cenars.
Ine market as whole has fallen
on quite seriously, though impercept-
.bly, durng the week. sugar, after ITS
twenty zone point rise naturally shows
the greatest loss, about seven points
net. The gfangers are all down. Bur
iington three pO4nts ana kOck lsiand
and 81. Paul about as much. The Steel
stocks have been notably weak and
closed this noon with a very tired as
pect. Brooklyn ~ anslt is about the
only exception To the general sag when
the weeks bus ness has dey eloped.
That remarkable stock while IL is of
a point and traction from IT'S highest
mark or wednesday, that seems very
iIttlr vOn4poltU. N..h ,nc IpaSGon IN
the other active specialties and of it
self, OF course, is not worth consider
ing. A whole long line of stocks, the
Pacifcs, Continental, Tobacco, Atchi-
son, Anaconda and the like were not
active at any part of the movement
that began ten days ago and appar-
entity ended on Monday, ana according
~ having made no gains they show no
losses worth mentioning
OF course so far as the losses them
selves are concerned the falling off in
the prices during the week is incon-
siderable. \ net loss of a few points
in Sugar for instance is never alarm
in. And there have been no serious
breaks or any indication of attacks on
values OF any bad signs except the ex-
porting OF gold to develop the fear
that the market is going down very
far. And yet the very appearance of
strength has suspicious look to the
more pessimistic class OF traders. The
always-bear crowd regards with sus-
picion every favorable sign and that
Following Is arguing that IL would have
more faith in further upward move-
ment on top OF the rise OF last week
had this weeks reaction been sharper
instead of only sag. The bear crowd
claim that the appearance OF holding
on that the market has had since Il
began TO run slow on Thursday is too
good to be true" They regard the
quietness of the market as demonstrat-
ing the absence OF buyers. They point
to the gold exports as evidence that
the times are not so propitious as some
of the bull pushelt, would have you
believe. They look for fall from
present prices and they have no faith
in any signs to the contrary unless the
signs should run into a certainty that
will paralyZe them and knock them and
their views out To smithereens together.
No one need go far 10 discover that
there is plenty 10 be said on both sides
OF a Wall street guess as there is on
every question in this "argyfying''
world. Folks who feel sangune that
prices are going back to the figures
made i'm the glorious days of the late
winter and early spring months. have
good deal To support their views, so
much so that little thing like gold ex-
ports doesn't fr'ghten them. They will
tell you that the country has gold TO
melt and the sending OF q few pigs OF
1t abroad is only IN the natural course
OF trade and should have no serious
affect on stock market values. They
laugh at the gloomy wheat stories that
the bears tell and point to the Federal
Steel dividend as demonstratiye that IL
is going to be easily possible to make
trust stocks inviting for all the clamor
about them. Such choice morsels as
Sugar a. 200. Brooklyn Transit 200. Bur
lington 49, are munched with much ap-
petiZing Zest by the bull takers these
days and they feel If anything more
sanguine about ii than they did before
the sharp fall following the death of
their leader. Flower.
You pays your money and you takes
your choice. Or rather, you takes your
choice first and then you pays your
money or somebody pays you-which IL
better Much depends on the choice.
The guessing is always free and abund-
ant. Only two real facts are available
at the close of the week. The first ,s
that the stocks had a big rise that cuJ-
minated on Monday. The second is
that since then they have all been sag
ging.