The Providence news. (Providence [R.I.]) 1891-1906, 1904-12-30
FINANCIAL

There II that about the present condi-
tion OF American finance which may be
on shipboard when, after song and ar
duous voyage beset with perils. harbor Is
made. After weathering n years financial
storm ana calm In which grave dangers
and psrilous strains were all too numer-
Gus, the American market has arrived al
the last days in such substantial condi-
tion as should promote universal trust in
its invulnerable strength and ability 10
withstand tho mightiest OF shocks.
This morning the general market opened
from y TO =. OF point higher than yes
teroay's close. The rise Is, broadly speak
ing. a common one and Is uniformally
felt throughout the stock system. The fig
ures from the earliest dealings on the
New York Exchange indicate the alb
sence OF any special feature. Attention Is
generally directed towards the favorable
gain In Amalgamated Copper which.
opening at "A, stands at the highest point
IL has reached since Its momentous slump
OF a little time ago. The fortunes OF this
stock are followed with keen interest To-
cally as no sensation OF late has so stir
speculative adventures In copper Of
Thomas Lawson and his associates.
The dominant feature OF the market to-
day is, as yesterday. the large proportion
OF investment operations as compared
with those OF speculative character. Re-
port show an attractive array OF gilt
adge investment securities and with mon
ey rather lose a large number OF dealings
ey investors are hourly recorded. IL
seems superfuous TO add that the pros
pect OF January disbursements serves as
powerful incentive towards the purchas-
crs OF securities.
The increase in investment negotiations,
the absence OF any strong speculative ten
dencies and the reluctance OF real stock
holders 10 sell have been the three most
potent factors In developing the healthy
rise which stamp the present market as
unusually secure and reliable. The rise
has been conspicuously natural in pleas
ant contrast TO the forced results OF fire.
quent unnatural speculative poolings.
The reports OF railway net earnings for
November are so favorable as TO exert a
potent force In stimulating the market.
The activity in Reading. and Baltimore
and Ohio securities is the theme OF much
comment from local followers Of finance.
The Erie Railroad reports an extremely
satisfactory net increase which has
caused quite a little stir I'm Its direction
The bank reports received Indicate
strength and stability In the money mar
ket and tend 10 further insure the health
fulness OF the general market.
Reports from the regions recently
threatened with drought are most favora-
bile and indicate complete relief from dan
ger. The winter wheat belt lately visited
by a fierce blizzard seems TO have proftted
by the experiences as the outlook Is most
promising Cotton IL being carefully
watched in local financial circles. though
nothing OF moment has transpired today
on the cotton exchange.
To the most conservative minds there
is abundant cause for enthusiasm In the
present condition OF American finance.
The character OF the trading is such as
10 promote satisfaction and trustfulness
TO the banishment OF doubt and uncer-
tainty. The magnitude OF operations Is
such as TO insure confidence In the reality
OF national prosperity instead OF sus-
picious disbelief.
II the closing days OF passing year
can be taken as prophetical OF the next
years trend then are the prospects or
1905 AT matters for congratulation, at
least so far as American finance and
commerce are concerned The favorable
condition OF affairs existent throughout
the country is OF course felt here In
Providence and on every hand there is
appartnly indication of prosperous be-
ginning for the New Year.
THE BOSTON MARKET.
Boston Dec. 30.-The buoyancy OF yes
terday's stock market was again in evil
dence today at the opening. Both coppers
and industrials were generally strong
with Amalgamated, Copper Range and
Greene among the coppers as the features
both as to strength ana 10 activity. Amer