The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-07
FIN X HCIAA.

With a storm raging over the larger
part OF the country. tying up traffic some
what, impeding industrial and commercial
processes temporarily, business is less
active today than for some days past.
The weather reports indicate the storm
10 have been OF unusual severity and ex-
tent and 10 have accomplished much him
drance in those regions over which 1t
spent It's fiercest force. There are no
indications. however. TO cause unessiness
as the disturbance is merely transient
and cannot long endure.
Reports from the cotton regions show
that the cold weather, the snow and other
ur IA Iora BILE climatic Developments have
so far 'nterfered with the care and gath
ering OF cotton as 10 materially retard
activity in that direction. The disposi-
tion OF southern planters 10 hold onto
their crCps biding season OF more prof
liable prices Is also noticeable at this
time. as a depressing influence on the
cotton market. Advces received in this
city this morning indicate advancing for
tunes for those engaged IN cotton pro-
duction and the manufactures OF cloths.
As the week progresses there is more
and more notable evidence that the
spring and early summer is 10 be a pc
riod for extraordinary activity. Indus
trial forecasts are very favorable and
commercial prophets see nothing ahead
but what Is good. Here Is Rhode Island
the agitation for a hustling spring bust
ness IS gently apparent. A certain con-
fidence I'm the certainty OF a successful
season rohs the situation here OF much
OF that uneasiness which Is unhealthy
and ruinous 10 the achievement OF the
best results
There is a hue and cry from the great
money markets OF the country that the
rates on loans are so low that recent
records fail 10 reveal years i'm which they
were lower. IL is unu~ually easy 10 Sc
cure money these days in which there is
such a plentiful supply OF ii that much
must 60 begging for employment Enor-
nous expectations of gold are being made.
France. South America and Cuba being
especially favored with Americas super
nuous wealth. In spite Of this unusually
effective method of strengthening the
condition OF the loan market there ia
apparently no lessening OF the national
money supply sufficient TO bring pros
perity In large packages 10 the money
lenders OF this country. With money
easy and plenty Of it in the strong boxes
for.sce plenty doing on American rialtos
whea American men OF business seek
funds with which to establish themselves
for tho spring revival.
Industrial prospects loom up brilliantly
now. With an unequalled command OF
natural resources and sufficient money i'm
the land 10 go at things In a thorough and
profit making way there is every reason
-te- Felsi- upon n great advance In national
wealth before another winter sets in Re
ports come thick and fast nowadays of
new advances made In industrial circles.
and there is an optimistic suggestion free
ly made 10 tho effect that there may come
to the country a greater strees OF in
dustrial activity than II can properly
handle.
This morning the financial situation Is
devoid OF any startling feature. The Sc
curity market opened with indicated
strength. A lessened activity in the move
ment Of stocks was noticeable as the
forenoon progressed and was regarded as
a sign Of passing uncertainty and lack OF
confident opinion on the part of the
speculative forces both bull and bear
All prices are maintained az a high level
the railroads operating extensively in coal
seeming 10 enjoy the most conspicuous
prosperity The stocks OF the Pennsyl-
vania road. the Delaware and Hudson.
Baltimore and Ohio. Reading and other
allied stock betrayed activity in excess Of
the average. Diligent consideration Of
the forenoon's market reports failed 70
reveal any notable commotion In any
specific security. An off day Il might
be called without too great a commitment
In the cotton market the situation has
been briefly touched upon in an earlier
paragraph. Advices received from the
earlier European market We're favorable
and lent confidence and energy to the
American dealers at the markets OPEN
ing The forenoon was quite active
though there was neither notable advance
nor retraction In prices The final re-
port OF the census bureau, estimating the
total amount OF cotton ginned UP 10 Jan.
Is, was expected during the day, and
though II was not expected 70 materially
improve or weaken the condition OF the
market still cotton men were anxious 70
learn Its contents. Cotton today stands
on the sunny side OF ~ cents n pound
and seems 10 he moving slowly but
steadily upward