The Providence news. (Providence [R.I.]) 1891-1906, 1900-09-17
FINANCIAL NEWS
A BULL MARKET.
A Local Brokers View Of the
Present StagnatIOn Based
on Continental Tobacco.

Sullivan & Sullivan In one OF their
recent letters say In regard TO Continental
Tobacco and the market In general:
In April 1899. Continental Tobacco Com
mon sold at e57s and by May this year IL
has declined to 2iIk. Since the latter pc
Rod II has been humping between 2lh and
"a, and at this writing is selling just un-
der q.
The company was incorporated In 1898.
and acquired all the leading plug tobacco
companies I'm the United States. IL also
purchased the plug tobacco business of
the American Tobacco Company, in whose
interest IL was formed There is $4,000
900 Common and s5o.ooOOoo Preferred
Stock. The Preferred company has on
hand nice surplus and Is doing an excel
lent business with every indication OF
greater trade development at home as
well as ln the Orient.
When the Common Stock was selling I'm
the neighborhood OF 60 the public made
heavy purchases on what was supposed
TO be inside information; that the direct
ors would distribute dividends on the
Common at the rate of per cent. per
annum Upon the failure To- keep this
general market, Continental Tobacco has
drifted down TO this ridiculously low
level; in fact to about one half of what IL
is actually worth. Beyond any question
during the early part OF next year the
companys management will distribute a
dividend TO the Common Share Holders,
and before this is done the manipulators
will advance this equity TO a much higher
level, discounting any dividend action
that may be taken.
We advise everybody 10 buy Continental
Tobacco Common at the Market, on re-
actions, and above 2s IL is impossible for
one TO make money buying securities at
ter a sensational advance. For Instance,
whoever made money buying st. Paul
above $50, Burlington above $50, Sugar
above $50, Atchison above 40. Union Pa
cifc above 140. Pullman above 2l0,
Brooklyn Rapid Transit above l35, Con-
solida ted Gas above 215, Manhattan above
10 Steel and Wire and Federal Steel
above 20, Wheat above $l.75 per bushel,
Corn above si.o0. Cotton above 10 cents
On the other hand think of the thousands
of people who have entered Wall Street
speculation and made fortunes buying
Wabash stocks under 10 and selling them
above 30; St Paul under 80 and selling IL
above 100: Burlington under 50 and SELL
ing IL above 145; Rock Island under so and
selling IL above l20: Pullman under 14O
and selling IL above 205 Sugar under ~
and selling Il above 175; Lake Shore under
20 and selling Il above 200; Brooklyn Rapid
Transit under % and selling 1t above l3O;
Metropolitan Traction under so and selling
II above 230; Steel and Wire under 80 and
selling II above 20: Federal Steel under
30 and selling IL above 20; Wheat under
$50 and selling 1t above $i.75; Cotton un-
der 5h cents and selling IT above 10 cents,
etc.
The time TO buy securities Is after
big smash. such as we have had since
last fall Wall Street magnates and
giants OF finance the world over have
made their fortunes buying securities In
Wall Street after panics have run their
course; buying securities i'm Wall Street
after panics have run their course; buy
ing securities from the public at a sacri-
flee and re-selling them TO the same CLASS
OF people later on at a tremendous ad-
vance. We all enter speculation when
the bargain counters are loaded TO their
AN. but Il is very easy to allure them to
ruin and dismay after a period OF infia-
ton and great excitement has run its
course.
At the present writing the public are
comparatively bare of securities and the
millionaire and manipulation own the
floating securities preparatory to big
bull market.