The Providence news. (Providence [R.I.]) 1891-1906, 1900-04-28
FINANCIAL NEWS
BULLS AND BEARS.
Week Of Mixed Movements In Wall
81. With the Prospect In Doubt.
Sugar Squeezed The Shorts but tho Balance
Of The List Was Only FluHIsd.

Wall Street, April 2s.--Rareiy has the
street indulged I'm "A week more lively
than the one now closed ana at ;he
same time SO thoroughly mixed in its
results and so doubtful as to the mean
ing of the movement and the prospect.
The collapse of the Steel stocks last
week found the market at the bottom
of thoroughly dismal set back on the
opening OF the present week.
That many stocks should have been
oversold seemed exceedingly probable
considering all the circumstances.
That Sugar was in that position was
pretty plainly demonstrated before the
middle OF the week.
That the railroad list is not still car
rying load OF outside longs instead of
shorts is, however, not so clear.
About all that can be said of the re-
suits of the essentially manipulated
movements which have distinguished
the weeks transactions is that a big
line of shorts was discovered and
squeezed ont in Sugar but that in the
balance of the list the manipulation for
a rise failed to bring out any similarly
eager demand for stocks.
Sugar began to sneak up on Tuesday.
BY Wednesday It was running rapidly,
on Thursday ii went by leaps and
bounds land. after opening in full cry.
Friday morning 1t sIumped back to the
position il was in Thursday forenoon.
This morning after an early sag.
Sugar rallied nimbly to around III.
Its weeks record shows a rise Of
eighteen poin,s. reaction. of about two.
and a net gain of sixteen points.
The balance of the market was not
moved by the manipulation of Sugar
until Thursday afternoon and Friday
morning.
The steel stocks had been fairly
strong all the week on recoveries from
their recent disastrous figures and Su-
gar's rise served to maintain them at
their best figures.
But II was not until the elimination
OF the movement in Sugar that the ball
ance OF the list took hold.
The Changers stirred on Thursday af-
ternoon and at about noon on Friday
there was a very lively upward move
ment i'm every class OF stock, Changers.
Pacifics,- Industrials, big and little. ana
New York fractions, especially Brooklyn
Rapid Transit.
There was a very lively hour or two
on the stock exchange yesterday noon.
Prices climbed, shorts covered and
there was doubtless a good deal or
buying by commission houses. The gen.
eral feeling was that Sugar had shown
the example of how TO renew the up
ward movement which the Steel stocks
Interrupted. and that II was underway.
But by three o'clock change had
come over this dream.
Sugar dropped from li9 TO 1l3 and ev-
erything else went tumbling after.Jack
and Jill fashion, so that at the close or
the market the one or two points gains
which had cheereu the bull traders were
pretty much wiped out and prices were
back about where they had started
from. which the subjoined table VIII
show was about where they were last
Saturday.
There Is a net recovery for the week
from tho lowest figures of Monday fore
noon. but. taking the week as a whole.
the rains are inconsiderable even where
they are not balanced by the losses
with. OF course. me single exception OF
Sugar.
The Steel stocks opened off this
morning and went off to almost their
lowast ngures and only the further re-
coyery i'm Sugar already referred TO the
market wasethreatened with as pad
sinking spelf as ii saw last week.
The following liable shows the com
narrative changes for the week in the
standard stocks and such others az
have been particularly active during
tt, txtaak.