The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-10
FIN X HCIAL.

A lstiess ticker, ticking unimportant
news in lazy fashion disclosed hour
by hour today the fact that the coun-
try's business and industry has entered
period OF inertia. Diligent inquiry and
a searching study OF the financial situa-
tion was unrewarded by any revelation
OF spectacular development or sensational
changing in any corner of the country
The lassitude In the national markets Is
not unreasonable and seems but the log
teal consummatio OF these past few days
OF easy drifting and gradual slowing down
IN general affairs. There is no new story
on local business or finance ripe for tell
ing today. Providence feels the influences
that stir the country AS readily as do
her sister cities; bur when those infiu-
erces fail 20 assert themselves this COM
mun'.y pursues a calm and unruffied
course
In the wider realm Of national business
there IL waiting and watching. AN atti-
tudo that in view OF we'll known pros
pcr Gus circumstances makes for addi-
;ional confidence in the success OF weeks
10 come. Industry and trade are stead
fly growing IN value and magnitude
There is no unhealthy speculation in ma
ticnal commodities but the demand is
large and steady. the markets are active
and there Is no harmful accumulation.
The country's present freedom from labor
difficulties and dlssessions calculated TO
hinder industrial and commercial progress
is a strong factor in the situation and
goes far towards insuring immediate ad-
vance and prosperity.
A. present there is lessened activity in
the produce markets. Wheat and corn
are neither gaining nor losing in value
Tho unusual severity of the winter
throughout the country f. more and more
apparent each day as a depressing force
IN the market. The movement OF cotton
In most regions OF the south and south
west is practically held up by the in
element Wet ther The cotton market has
not been active today. The New York
exchange Is 10 be closed tomorrow and
on Monday. the official observance OF Lin
coins birthday occurring on the latter
day. Yesterday there was an aggressive
attack on the market by bearish inter
ests and a decline OF many points re-
suited. Today advices from Europe
counseled steadiness and during the
forenoon strength was slowly regained.
There were two very plausible reasons
given In cotton circles this morning 70
account for the present depression. The
first was that when a day or so ago the
high tide OF prices was easily sustained
and prospects were good for still more
advance, N was seen that such prices
would forcefuly oppose the desired
acreage reduction; therefore IL was easy
for the bears 10 work prices back TO a
more moderate level. The second reason
exploited was that the planters were
weakening In their resolve 10 hold back
their production hiding the arrival Of
more profitable prices and that they were
offering OF their stores: therefore prices
tumbted- conservative opinion WAS
expressed today 10 the effect that legiti-
mate prices will not 60 higher than nine
cents during the persent year The
veatl er In the south Is closely watched
hy cotton men as clearing, UP ot bad
conditions will at once relieve the ten
aion Of the market.
In the security market the day has
witnessed little lively action. The open
ing quotations indicated stamina and
prosressiveness in the market and dur
ing the morning prices rose more than
they fell Industrial stocks are especially
popular now. With the railroad securi-
| ties, lately so active and fortunate there
| Is uncertainty. At Washington the mat
to- Of railway legislation has come 10
crisis and on the ultimate action OF con
gress much depends. NO stocks were no.
ticeably prominent during the forenoon.
The market Is TODAY maintain ined at
moderately high level though prices in
many cases have fallen within the past
twelve days The market is still pro
fessional." the public continues apathetio
and I'm this last condition lies the secret
of the general dullness pervading busi-
ness and trade On the whole the pro-
81 ess Of industry and commerce con =
tinues with a quiet easiness and steadi-
sss which would sanction free cultiva-
tion OF optimistic views and confidence.