The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-16
FIN * ~ CIAL.

a vesture Of steadiness and progressive
ness such q n enjoyed last week has re-
turned TO the security market today.
J-hero nre two great forces at play be-
meath that market: sntagonistic forces
that cannot be passed by in styling them
bulllsh end bearish. One force is that OF a
deer and abiding faith in the coming OF
= season OF extraordinary commercial eN-
Iansion; the other Is that OF hesitation
and doubt over the outcome OF the very
evident clash between the senate and the
president over those measures before con-
gress concerning restriction In railroad
administration.
These two forces appear 10 be pre-emi-
nent as factors swaying the rise and fail
OF the market today. The money situation
which has caused n great amount or COM
ment because OF its popularity seems In
nc aspect altered. there is a plethora or
money in the country and those influences
which make the country rich In money
were never so sound and active as now,
the rates obtainablc on loans are stll so
.ow as 10 make ;ne business OF the mon
ey-leudeF quite undo siraDle. Much gold
has left the couatry OF late but its de-
parture has scarcely affected the domes-
nc situation so wealthy is the country.
There seems 10 bc little In the way OF
uneasiness experienced IN the great for
eign markets. That threatening outbreak
fl Russia which SO profoundly stirred the
eStire world within the month has so far
nbate0 as 20 no longer menace tae integ-
rity OF European business or the placidity
of American finance II Is apparent that
rumors OF peace between Russia and ia
ian are well grounded and the anairs OF
tho world bid fair 10 run more snoothly
because the horror and terrible doubt or
that conflict In the east no longer eSists'
In tho domestic situation there Is MOTH
ing today to arouse apprehension. RI
nance. commerce. snd industry all are
pursuing prosperous courses and are
steadily acquiring greater strength ana
vigor from which nothing but prosperity
can he derived There are many reports
coming continually from AL sections or
tho country which materially eNidence the
expansion of interests In all branches or
commerce and manufacturing. Inc
weather IS still an aggravatng factor
in the general situation, being severe IN
the west and south. Business IL sFeaty
in1peded in many sections or the country
and a depression is apparent In the move
ment OF produce and freight on all SIDES.
Advices at hand declare the outlook as 10
weather 10 be much better.
The principal cause for comment IN the
aspect OF the security market is the re-
newal of activity in railroad stocks. me
Hartman stocks, notably Union Paclnc
and Southern Pacific. are very aggres-
sive at present and though not eNperlenc-
ing particular advance, are active ana
dealt In extensively. New York Ontario
G. Western stocks were featured In this
morning $ trading. A conside.>Able amount
OF interesting and lively railroad gossip
Is abroad tclay. which IL OF peculiar
local value. IL is insistently reported that
the ADVANCE Ii NeM Ynrx- x-QHtafie " est
ern Is due 10 the fact that the New York,
New Haven & Hartford road Is soon 10
transfer It's controlling interest IN that
railroad to tho New York Central with
certain guaranteed coal and freight privi-
leges.
one other rumor has Il that the con-
troll OF the New York, New Haven ~
Hartford road Is soon TO pass 90 the Penn
sylvanra Central and that OF the Boston
a. Maine -Fttchburg interests 10 the New
York Central These are important ru-
r1ors. indeed and as they are seriously
voiced. must be carefully weighed and
watched Vital changes are prophesied
for the New England railroad situation
and doubtless important developments
will be soon Forthcoming.
with the produce markets everything
was fairly steady today. Cotton is still
held up by !nelement weather and prices
were this morning maintained at a bevel
slightly below that of yesterdays princi-
pal operating. The market is strong and
prospects good
Wheat and corn were especially strong
this morning active and advancing in
values There is little IN the present situ-
atior, 10 warrant special comment.