The Providence news. (Providence [R.I.]) 1891-1906, 1901-05-06
The NEWS PROVIDENCE r. L. MONDAY MAY 6 1901
FINANCIAL NEWS
BULLS AND BEARS,

wall Street, May 6-rhe market opened
IN state of Wild excitement and with
blocks OF rom 1000 to 3, ,oD0 shares taken
on rapidly rising scale I'm "A large num-
Der or the principal stocks The Grang-
'lS, facincs, Trunk lines and Southwest
erns were all notably affected but there
were striking gains In the Southern group
and amongst the leading industrials.
The rise was foreshadowed I'm the Lon
don market wncre 81. Paul has been ad-
vanced AZ, Union Pacific 24 and other
prominent American stocks from ] 20 ?
points. Opening sales here OF Atchison
We're or 1900 shares at S5 TO 81, COM
pared with S27s on Saturday. Northern Pa
cihc opened UP four points on the sale
or 900 shares and extended it's gain 10 6k
on the next purchase of 1900 shares con-
tinuing afterwards To advance.
Union Pacific sold at 125 TO l27, COM
pared with 1928 on Saturday ON the trans
Ter or 10000 shares The purchase OF 5000
shares carried Missouri Pacific up 10 lf4ia
ana ll6 compared with ll2is: 5000 St Paul
20 ISIS and lS7. compared with 1Sis,: 5000
PENNSYLVANIA 90 l53 and 15i. compared
with 1875. There were other railroads
up from To points, New York Central
rising. Among the industrisls the
steel stocks We're most prominent. %. 600
shares OF United States steel common sell
ling at SO 10 53si. compared with 52ss and
1900 or the preferred selling at 100a. 10 10i
compared with 100 and rising afterwards
TO 10l 4.
Five thousand six hundred Continental
Tobacco sold at 80 10 90. compared with
f9% and 5000 Western Union sold at 99i4
To l,p, compared with 81 on Saturday,
number of the other leading induStrials
advanced from 10 . points There were
further advances after the opening I'm
many stocks. but the heavy volume of
realizing invited by the sharp advances
made quick impression on the market
and there were relapses OF 10 1is. The
market became very feverish and irreg-
uiar and the volume OF dealings was
large
Stocks moved downwards with rapidity
on realizing and some short selling by
professionals. who always count on an
immediate setback after a buOyant start
The principal railroads fell of from 1k
To 3h. Atchison leading the break.
The industrials and specialties also fell
away, notably the steel stocks and To-
baccos. Meanwhile Northern Pacific was
making sturdy resistance, and as the
demand for this stock became so urgent
as 10 carry IL TO l2Oss In the face OF the
selling elsewhere. the hears became un-
easy and bought all classes OF stocks,
causing general rallies OF 10 2 points.
Many noteworthy blocks OF Northern
Pacific were taken, the tape recording
consecutive transactions OF from 1000 10
5000 shares. The demand encouraged ac-
tive commission buying all around and
the market was rising strongly at II
O'Clock.
ENNflHefn i-htliif fhHillhtu TO nc tflf
leading feature of "A market that was
replete with numerous excited variations
The stock met temporary checks I'm fits
upward surge but eventually sold az 1884
against 10. last weeks close.
other active stocks vibrated a point or
more frequently hut acted as II realizing
was going on heavily, under cover of the
In Northern Pacific. Specula- =
tion became broad ana confident among
the less prominent STOCKS, Canadian Pa
cihc. Minneapolis and St Louis. Lack
awanna, Iowa Central, Pittsburg. G. &.
and St Louis. Northwest and Amalga-
mated Copper rising 2l5 TO 5 points
Bonds were quiet but strong.
A relapse 10 122 in Northern Pacific was
imediately by a renewed rise To
l25 where IL fluctuatsd nervously The
bull manipulation OF the Atchison and |
Union Pacific was renewed and on enor-
nous purchases they went steadily up
wards 10 sSls and 127i. respectively. the
hest prices of the day. Other railroad
stocks failed to get back 10 the best, but |
hardened sympatheticaly.
Brisk buying of the coalers pulled l
Them up form TO 3 points WI. the alb
sorption of the Readings especially /
heavy. Minor railroad stocks continued 4
10 make substantial improvements. Pitts /
burg, c. C. and ST. Louis extending it's 1
Use to S1A.