The Providence news. (Providence [R.I.]) 1891-1906, 1905-03-02
FI M X IA KAA.

With a readiness that Is an old story 10
financial minds expert students OF none
tory economies arc now folsting upon the
gullable public explanations galore for
tho strange shake up in business durins
the past week. None was so shrewd as TO
predict the sharp advance OF last Sat
uIday and at the time value rose so fast
all were so surprised that none attempted
- explain. This morning. however. Wall
street state street and our own chamber
OF commerce is properly enlightened. OF
course II Is fine 10 know both cause and
effect but 'twould be profitable II cause
were known first rhe market scars mad
ly onto luxurious heights causing much
money making and also loss; spectators
dc not know why things are so and too
often stumble bliadly. rushing with the
tide OF things.
In the memorable hustle OF Saturday
ana Monday values were placed, through
violent manipulation. so far ahead that
nothing but a heavy decline Will restore
the market 20 the condition which for so
long was normal. Little slips backwards
cannot count for much against the
strength os the market and nithing but q
radical Judgment can say that the past
day or two has seen weakness fostered In
the security market Today's operations
have been fiuttery. like the nervous,
spas modic twitchins OF an excited person.
There has been no movement FOR declded
good or for bad; things continue about
a they were yesterday
The opening OF the market was good.
II being active and OF an aggressive tone
Al once there appeared symptoms OF ac-
tivity OF the right sort All along the
lie, stocks were freely bought. but there
was such pickering over prices that ad-
Yances were most modest. IL was nip
and tuck between railroad stocks and In
dustrisls for preeminence, and N be-
hooves one 10 be -committal as 10
which class won. Fractional shifts fur
nished sufficient speculative dealing to
make the forenoon interesting
Those railroad stocks which have been
so persistently mentioned in this column
during the past week or more were chiedy
nctive today. The Erie and Reading
stockr asserted themselves with peculiar
vigor. having lately come into new
strength. Much gossip is now afoat con-
cei ming the rare merit OF Reading prop
erty. The Vanderbilt and Hartman
$ cks were conspicuous
Industrias centred about coal and iron.
steel and copper stocks. More news
about the merger of Southern iron inter
ests lends further color TO that most i'm
POIIt mt matter. lut tpuNu u EThOudi'N
coming 10 its own "a an iron producing
region, and this elaborate consolidation
of energies is bound 10 greatly advance
pr sperity In that direction Reports
pertinent TO this merger are eagerly
scanned by financial men.
Steel stocks are very attractive at pres
crt. and in the long run are advancing
Today these stocks have featured prUmi-
rently in the operations OF the security
market So with Copper stocks. Anal
gamated Copper has not once lost Its
prestige since II first advanced 70 promi-
nence under the spectacular guidance os
o1e Lawson OF Boston. Yesterday ard
today this stock has enjoyed exceptional
experience as fluctuator.
Cotton continues dull The southsgners
fail 10 find cause for enthusiasm in exist
Ing prices and doggedly refuse 70 enter
the market until things pick up. So there
Ia little doing and quotations vacillate
within meanly narrow margins. Locally,
cotton men still are long of face and
shcrt OF earnings. It's stupid season
for them
Wheat and corn are not at all difrennt
from Il cir condition yesterday. i