The Providence news. (Providence [R.I.]) 1891-1906, 1903-08-06
FINANCIAL NEWS.


Wall Street. Aug. 6.--Sent timent In Wall
street was strong to a high tension this
morning and the opening quotations were
awaited with apprehension. They showed
that protective measures had been taken
to avoid Generalization. and many of the
prominent leading stocks were lifted a
fraction.
AT other points. however, there were
violent breaks. especially I'm the special
ties and some of the market leaders were
also under severe pressure. Such stock
as St Paul, Southern Pacific. New York
Central, Pennsylvania. Southern Railway.
Erie and Illinois Central showed the ef-
feet OF supporting orders and rose a frac-
ton. Missouri Pacific and United States
steel opened unchanged. but the former
relapsed a point. Chicago. Northwestern
dropped 4. Wheeling and Lake Erie I'd
preferred 3la. Continental Tobacco pre-
ferred ., Brooklyn Rapid Transit rs,
Atchison. Baltimore a Ohio and Met
ropolitan street Railway over a point and
Consolidated Gas, Manhattan. General
Electric and Sugar about a point. The
dealings In the first few minutes were
excited and feverish. but the market
showed the good effect of supporting
orders
The market was nervous throughout
tho first hour. owing TO the occasional
outpouring OF special stocks which car
ried their prices through previous low
levels for the year. But the supporting
tactics were pursued but the market be-
came steadier. selling was conspicuous
I'm Missouri Pacific and Balttomer and
Ohio. carrying them IN under last night.
Atchison lost as much and Union Pa
cihc declined III. Metropolitan Street
Railway lost bM, Continental Tobacco
preferred 37s. Delaware and Hudson.
Hooking Valley preferred. Minneapolis.
st. Paul and Sault Ste Marie, Consoli-
dated Gas. Pullman and Republic Steel
preferred to points and more extend
ell list n point or over.
With the announcement that All sheets
had passed the stock exchange clearing
house the buying became definitely pre-
dominant over the selling and the market
rose with animation. Only stocks that
had been notably weak. failed TO recover
fully. Such leaders as st. Paul, the
Trunk lines. except Baltimore & Ohio,
Southern Pacific. the Wabashs and the
Southern Group Of railroads. United
States Steel. Amalgamated. Sugar. Cen
eral Electric and miscellaneous list
besides rose above last night. Wabash
preferred. st. Louis Southwestern pre-
ferred and Kansas a. Texas preferred
rose a point over last night and Tenn.
Coal Ia. There was a break OF 3h In
St Louis and San Francisco second pre-
1erreu ana OF L12 III mlNHedpplis, ol. Fdu
and Lault Ste Marie preferred. On the
rally the demand diminished to small
proportions.
Atchison then sold off 2A below last
night, Reading las and the whole list
yielded again easily. Bonds were weak.
Selling was resumed on large scale
and about a dozen OF the leading stocks
yielded 20 lower level. The decline was
short lived as heavy buying orders ap.
Ill ,arl, q he 1tg,
gers, Pacifics, Southwesterns Coalers. the
eastern trunk lines and the specialties
rose rapidly. Recoveries from the lowest
ran between and points and the earlier
losses were pretty effectually wiped out.
Reading rallied TO 46. United States Steel
preferred TO 69is, Union Pacific TO 6sA.
Baltimore and Ohio to 79, Missouri Pacific
to 90 and st. Paul TO 1876. Continental
Tobacco preferred declined 5h and raj
lied Q