The Providence news. (Providence [R.I.]) 1891-1906, 1905-03-01
FIN X HCIAh.
YESTERDAYS.
MARKET
REPORTS.

Buy specialties on drives" say the
majority of stock market advices today.
That trite order indicates precisely ana
briefly the situation in the security oe-
psrtment OF finance. In leaps and bounds
the market has advanced. within the
week. 10 a point where valuations are 40
high as to render dis cretion necessary in
even the lishtest manipulation.
SATURDAY was a great day. Monday
greater one. while today the market
rests unessily after its violent upheaval'
neither suffering depression nor exper-
fencing advance. The opening Of the
market was satisfactory and for the
first little while Indications of further ac-
tivity were abundant. But the energy
that is beneath the market Is not tire-
less energy. and after such -smsrkable
fests OF strength and agility as those
recorded Of late 1t is not surprising that
the market relaxed in the forenoon.
Al! stocks were early astir and were
actively dealt In. but fluctuations were
fractional and OF far less consequence
than those which yesterday made the
country wonder. Southern Pacific. Union
Pacific, New York Central and all the
other greater stocks were in the lead
during the forenoon, being always most
active and subject 70 the greatest rises
and falls. Until noontime there was no
manifestation OF unusual operating In
the stock report.
Experts reported this morning their
findings on this most recent and decided
stir in the market The larger number or
them insists that all this increase OF
values is merely natural, that properties
and industries behind the stocks are
actually worth what those stocks now
express as their values and that SUI
higher prices may reasonably be expected
SO they advise the speculator TO buy IN
high priced stocks when they tumble
point or so in order 70 be AT the gran
rebound--for grand rebounds are certain
20 occur.
The neatness with which the last shake
up has been accomplished Is proof posi-
tive that the market is practically wholly
in the hands OF experts. It's professional
aspect saved II from the wild CONFUSION
OF a public demonstration. Had the gem
eral public been largely represented IN
the narekt there would have been wlld
happen nings on Saturday and on Monday;
but the public were out OF II and talk IL
unnecessary.
csdure IN the stock market other markets
have been somewhat neglected Indus
trial stocks have advanced sympathet-
Totally and seem substantially founded.
Industrial reports are good and the situa-
ton today shows little change over that
OF Yesterday No Developments have
arisen In the local situation worthy OF
particular exploitation. Business pursues
a calm and unrufned course here at pres
ent.
In the cotton market there Is little 70
be said. but that little is good The de-
mnnd for spot cotton Is better. Southern
ports report fair business with prices
easy. The weather difficulties seem 10
have entirely disappeared. while the at
titude OF the southern holders towards
northern traders Is conducive 10 an cas-
Ter market. Prices from New York today
have been rather steady, though below
the level established last week
Yesterdays sensational break In wheat
which caused so great an agitation among
speculators has not been followed today
by any special disturbance. The wheat
market has been irregular. as was TO be
expected. but has not tumblsd further.
The popular explanation OF yesterdays
collapse is thas which places the cause
with that group OF brokers the Gates
crowd. which cornered wheat some few
days ago-or II It didn't corner wheat
bought so heavily in IT as to carry the
price we'll over the 12o mark.
The supreme court at Washington takes
up the Northern Securities case today,
according to authentic advice. and the
whole country eagerly awaits its find
inss In tho matter. Doubtless the stock
market will lose much Of its activity
until after that case Ia settled