The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-28
FIN X NCIAL.

In an active. prosperous fashion did
the weeks affairs in the American Sc
cur1ty market come TO a windup at noon
today. The morning was one OF extensive
dealing. there seeming to be a relief from
that scarcity to stocks among the select
securities which has been widely com
mented upon OF late.
Opening prices showed an Improvement
over the closing quotations OF yesterday.
At orce the market began 10 rice rapidly.
Two OF the most important feature securi-
ties reached new record figures for the
present bullish agitation. Chicago x
Northwestern made an advance OF fSlly
y points during the forenoon. being
quoted at 23S at tho close OF the mar
ket. Union Pacific also advanced TO
new high point. being quoted at 1919
shortly after IL o'clock,
These two securities were easily the
features in the mornings trading. Erie
-, cks were also notably conspicuous.
Their fortunes were varied but restricted
10 rather narrow limitations. Stocks were
sold In larger blocks than for some time
past.
At the opening OF the day there was
rInrked activity emanating from the
London market Some 10000 shares were
unloaded by British short sellers In the
frat hour OF trade. Such surprising
manifestation naturally stirred the do
niestic exchanges 10 greater activity ana
the forenoon proved most strenuous. The
Russian trouble seems 10 have so far
.l..... and a
liberateness as TO no longer figure men
acingly in the international situation.
The extraordinary activity In North
west was the remark OF the morning
among brokers and was taken as further
convincing proof that that blue -blooded
security Is in the hAnds OF spectators.
IL should assume a prominent position
among the head lines next week. Erie
stocks were followed with interest and
comment was freely made that something
OF great Importance 10 the railway world
would ultimately arise from the present
Erie nutter Is It Pennsylvania and New
York Central or IL it John w. Gates?
Such questions are elaborated upon eH-
tensively in financial circles today.
Southern Pacific has prospered today,
though to no such extent as has Union
Pacific These two stocks are apparently
as healthy and promising securities as
are any on the big list. Rumors galore
are afoat concerning the futures OF these
roads. few OF which hear semolance OF
reliability. The Pacific stocks are looked
upon as likely top-liners for next weeks
trading
Copper has been aggressive today and
strong also. making a creditable advance
over its somewhat sluggish condition at
Yesterdays close. United States Steel
stocks were in the front rank Of advanc-
ing securities today and made good as
will eb seen by the figures noted below.
ST. Paul. New York Central and the other
large traction securities established them
selves on firmer basis az result %
the mornings advance.
At $50 the bank statement was is
sued showing an increase In every fea
ture but circulation. II seemed 20 have
l!ttle effect on the market during the last
half hour. The week has witnessed n
profound stirring OF international finance
which for few days menaced the In
tcgrlty OF foreign markets and disaster
to our own. In the last three days that
danger has been dissipated TO a gratifying
degree, providing a renewal of confidence
In the strength OF our financial system
which has today found happy expression
IN the general advance OF market values.