The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-16
FINANCIAL

Stosk uckers licked merrily this morn
Ing. merrily and to good purpose: activity
and rising prices made matters truly In
terestine. The market opened strong,
the first quotations reported being on an
average well above the closing figures OF
Saturdays operations.
From the start came indications
plenty OF general activity and hustle.
while the tape told steadily or rising
values TO the end that the haze OF listless-
ness. which of late had lowered over the
market. was TO a great extent dispelled.
Union Paclfic stock was the feature OF
the mornings operations. This prosper
ing security at noon was quoted at l20.
having risen nearly a point since the
opening. The mornings records seemed
to show decided aggressiveness on the
part OF Union Pacific stock. which was in
full accord with the expectations freely
expressed at the close OF Saturdays trad
ing.
Anlalgamated Copper was conspicuous
as a feature security. At noon II was
quoted at 7s%, quite an advance over it's
opening figure. This copper stock has
proved most Interesting problem, II hav-
ing experienced OF late weeks a very
spectacular series OF adventures. Just
at present IL is rising in value at a marry
rate and ts commanding lot OF close at
tention
Wheat was very active In the first two
hours trading today. Fractional shiftings
from 1l6 20 III on May wheat supplied a
capital opportunity for speculative deal
ings of a bullinsh nature The tendency
OF the trading was towards rise In
wheat quotations and was welcomed
eagerly by those spectators ambitious
for 81 % wheat.
Cotton braced this morning. being quot
ed at : cents with a tendency TO rise
higher. There appeared on the Cotton ex-
change a force directed at July cotton
which caused IL 10 advance to S.l5 bale.
a considerable rise for so short a period
OF trading.
With the revival OF activity in the
stock market, their appears to be loss
OF interest on the part Of financial per-
sons In the reports from Washington. The
considerations OF Mr.. Roosevelt's attitude
toward national finance. his views on tar
IN revision and railroad rate legislation,
lapses into unimportance beside the live
illness OF a rising hustlng market.
The matter OF tariff revision seems no
longer 10 be n real subject for specula-
ton. 1t appears that all chance OF it's
coming up in the present congressional
session has been dissipated. Conservative
opinion has Il that too much ado was
made over the subject last week. but
conservative opinion further has Il that
the financial world wos In so idle a con-
dition that IL welcomed tariff revision and
the presidents attitude as handy material
with which 10 while lazy moments away.
Times are too good to substantiate re-
vised tariff argument" said one who has
a right to be heard on the subject this
morning.
So notable an agitation as the present
movement in Union Pacific stock is
worthy of explanatory comment. II APP
pears from New York reports that the
public that dabbles In speculative Sc
curities has awakened to realization OF
the reliable and profitable nature OF the
Union Pacific investments in stock OF the
constituent corporations Of the Northern
Securities company An increased dis
tribution upon the Union Pacific common
shares is held TO be inevitable ard immi-
nent.
Earning is per cent upon its common
stock. including It's undivided equities
Union Pacific is conservativeIy looked
upon as the most promising security on
the speculative horizon. Investors and
speculators alike are intensely interested
I'm following the present fortunes OF this
stock and no single security Is more
powerful In the market today than e.
The exceeding good fortune of Amalga-
mated Copper is declared TO be due to
the overwhelming demand for copper
Great possibilities are predicted for this
stock. From the great wheat region
comes prosperous report. admiral BILE
weather conditions and promising crops.
Truly the outlook is gratifying. But the
bear operators see In the market signs OF
imitation and bide their time till the infia-
ted market. like a bubble shall burst
THE BOSTON MARKET.
Boston, Jan. 16-There was a strong
tone 10 copper shares in the early trading
in the stock market today The fact that
Amalgamated was quoted higher at the
opening In Boston than In New York was
explained by a wrong quotation being re-
ceived from New York by an arbitra Ce
bioker who bid the market here up Ar
bitrage houses were large buyers OF
Amalgamated and Greene Consolidated.
Profit taking was noticeable in Massachu-
setts and Michigan. Santa Fe. which has
been neglected OF late was taken in
hand, and advanced TO 2%, up a. Selling
OF American Telephone was reported bet
ter than the buying