The Providence news. (Providence [R.I.]) 1891-1906, 1899-12-30
BULLS AND BEARS.
A Lively Week in Stock Market
Closes With Tranquility. .o,o
Marked Recovery In Prices Of Every Class
Of Stock Since Panic.


closed the year STEADILY, confidently,
and with good feeling all around.
Since the first sharp recovery from
the panic prices OF a week ago yester-
day the whole market has advanced
steadily and rapidly vita practically
no reactions.
Every kind and class of stocks have
shared in the recovery which in some
cases has amounted TO enough to have
satisfied manipulators FOR n whole bun
campaign "A few years ago, in the years
when the range OF prices was far less
than IL is in these booming times.
! Although there was "a somewhat un-
easy selling off on Thursday and yes
/ terday forenoon. the market qs
| whole made good its losses and some
! OF the stocks continued 20 advance 10
! yet new high figures while practically
none of them shOw any loss from the
I highest OF the week. Sugar. which had
| the most rapid recovery from the big
gest fan of them all is the single ex-
ception. II has drifted down three
points from its highest price of Thurs
day.
one after another tse several groups
Of stock have taken hold OF the ad-
vance. and today number Of tail
enders. like Pacific Mail and Leather
common came I'm for their share OF the !
recovered prosperity
The steel stocks, both Federal Steel |
and Wire have been conspicuous i'm the |
weeks recovery and have again at /
tracted the attention OF traders.
There is no question that these gi-
gandc trusts in the biggest of Ameri- |
can products are making a lot 4 mon
ey There seems To be no question
about the paying OF dividends for some
years to come. But they have disap
pointed both traders and investors so
often thar both these parties in the
market have "a reasonable doubt or I
them. Wire has been especially dis
cOuragng. Thousands and thousands
Of shares Of IL We're disposed of last
spring around 20 and more thousands
were sold ~N'~ fan around 4S and 40.
And IN the latter case IS well as the
former a tremendous shake out follow |
ed. There seems 20 be No serious like
hood that the shaking out process will
be repeated 50 disastrousY from the
present rise ana IL may T. said that
conservative traders are beginning 10
come To the conclusion that steel stocks
may be meaning fair this time. al
thous'h reactions are always TO be look
,d for in the best of stocks II NAV be |
said too that the steel issues suffered
40 worse from the panic than such old
'ehables as Sugar. Burlington and 81. J
Paul After their Wild career since they
anne on the board a year ago II is ,
,robab blv reasonable u expect shat they ,
viii set.le down TO do business more I
obery, although they look pretty high
low. :
The market ended up as few traders :
anticipated 1t would close,It was gener- !
lily expected that there would be n
ush go get out i'm the last hour by :
cared traders on one side or the other !
Who would be influenced by the quota-
Ions 20 let go for the holidays But |
othing OF the sort occurred. Longs and
horts went homo together for a Hap
v New Year.
Traders who went short with margins
nd nerve both limited on Yesterdays IL
lg were pretty well weeded out on
lis mornings opening while there was
othing in today's fluctuations 10 make
he long holder nervous or tempt him
quit.
So the market closed steadily after
e flrSt hours activity with "a few
ocks showing fractional decreases ce
ON last ever ne bUt most of tkem be- &C.
g higher and firm 20 the last moment.
faCiiic Mail Is another stock that is
tracing attention and curiosity by its
Iwouted activity of late. This stock
s. foryears been among tho dead ones
n study of it's rtCert huctuatians
u show that in the violence of its asa
lvcments 10 is rival of the livelieet
them. IL would not be surprising If
bS,dy propositions now I'm Congress lo.
1uld make Pacific Mail one of The
'st important stocks ON the list be- )
% the present movement comes To an bu
L. for
[ is believed by many traders that da
ne thing Of reaction is due after }
rise that has ben enjoyed since q {
ek ago. But the board gives no sign !
u This expectation VIII be resa lied
, except on The principle that tbc
he a. sell lis when stocks look strong re
'y have certainly looked strong "~
ugh this week and thev closed
1nS enough n slightly Irregular.
8 iss shown by the weekly table ~
lpqratiEe Prices published beIow ,he
1s haVe bern general and very
~ Since ths panic OF FRIDAY the
rage recovery OF 16 leading issues J.
'unts to about seven points. Tho ne,
below shows also that on ton OF p,
saturdays rally 81 stocks have ~
n an average OF more than FIVE "''
Its. his
lcl' was no cotton market today VI
moon Exchange viii be closed on mis-
'' ~, 1s Wall as all the New York ,h.
utlNEU Nrh1uwpe