The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-03
FINANCIAL

Wall Street after two days OF idleness.
has again awakened to the welcome stir
OF work -a-day action. New Years days
the proper and the legally observed ones.
were days OF great moment with the
dealers i'm finance even though there was
no trading 10 be done
AS the market closed on Saturday, the
financial atmosphere was hazy with
doubts uncertainties and dubious possi-
bilties. Lawson OF Boston seemingly
held the strings that would set the pup
Iets on the Stock Exchange i'm motion at
this mornings opening He had threaten
ed startling exposure and demoralizing
revelation I'm the noisy press columns.
Wall street waited restlessly for the next
move OF the Copper King.
Today the vivid advertisement referred
10 has been spread abroad TO n waiting
public. Its portent is precisely what was
anticipated. Mr.. Lawson alludes in terms
more poignant than courteous 10 the
methods and practices OF frenzied finance.
In brief Mr.. Lawson loudly defames the
system and advises investors Ia he
wary OF placing their funds within reach
OF it's greedy. unscrupulous supporters.
The advertisement has made stir.
such sensational assertions as are made
therein could not avoid creating a stir. IL
is the subject OF much comment, some
holding Il as an exhibition of unmitigated
audacity. others declaring strongly In its
favor II is a curious phase OF financial
development this agitation OF "frenzied
finance" and no more unique figure IL to-
day before the public eye than this
Thomas w. Lawson, prime agitator.
The stock market opened strong. The
two days rest from activity seemed TO
have had a recuperative effect on finance
and trade for as the earliest reports
came i'm from New York IL was seen that
the market as a whole was materially
strengthened. II was an active market
from the start.
The earliest quota tions showed a
strengthening OF Amalgamated Copper. it
opening a fun point above the closing
figure Of Saturdays trading. general
rise OF from one TO two points augured
we'll for the iiveliness and strength of the
market. For the first houR Mr.. Lawson
as an influence on the market was more
n possibility than reality.
A considerable agitation was caused
eerly i'm the day by the announcement
that the Hartman injunction against the
distribution OF stock by corpora tions con-
oerned I'm the Northern Securities Merger
had been dissolved by the supreme court.
The statement was at first looked upon
as adverse TO the Hartman interests and
an unfavorable fluctuation in those secu-
therefore, when. In the first hour OF trad
ing the fortunes OF Hartman stocks rose
and assumed a fairly sensational rating.
Further Developments In this direction
are eagerly awaited.
From Wall Street comes assurance OF
strength In the market Not least
among the influences at work In lettering
conditions financial is that OF the Lon
don market which has taken an en-
couraging brace since the reported sur
render OF Port Arthur. or more precisely,
the confirmation OF those reports
In this very strengthening OF the mar
ket there Is evidenced the supreme un-
certainty of tho great game OF finance.
Today's market can not be taken as an
Indication OF what tomorrow's IL to be.
Strong today, II may collapse within the
hour and tomorrow be thing OF wreck
and rum. Each new morning reveals
fresh influences inside and outside the
market and the suddenness OF their APP
pearance and the powers OF them Is often
passing strange.
The whirl of finance today centres
about Lawson and Hartman. In the se-
cret OF the rise or fall OF their fortunes
seems TO be the secret OF the success or
failure OF the market. The atmosphere
surrounding the days trading savors sub
tly OF the melodramatic