The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-26
FIN X HCIAA.

With the passing OF immediate danger
from the Russian situation the fuller
realization OF the security OF international
finances and the subsistence OF recently
acquired nervousness the American mar
ket this morning presented a very re-
spectacle appearance and displayed little
indications that led its followers TO
rejoice that a crisis had been so nicely
passed and disaster so happily avoided.
From a weakening at the close Of the
day yesterday the market responded gal
lantly at the opening today. A fractional
advance OF nearly the magnitude OF n
full point oheered the hearts OF appre-
hensive ones on the first quotations an
nounced The good work continued
throughout the forenoon and the market
prospered.
Evidently a lack OF disturbing news
from St Petersburg or else a waning con-
fdence In the reliability of such news
tended to render the market more stable
and to give II calmness and a conserva-
tive moderateness Yesterday was slight
ly better than a million share day owing
TO the nervous tension under which the
world markets were laboring. Activity
was not SO great this morning and prob
ably todays returns from the clearing
house viii show "a falling of
II was confidently reported this morn
ing that peace negotiations were already
being conducted by the Japanese and
Russian governments. Such news is
God send to the cause OF Japanese Sc
curities. and, OF course, lessons the strain
In the Russian market. AT the same time
came a rumor that even now the cloud OF
revolution and popular revolt Is fast
drifting from It's threatening position over
the cars domains, and that relief is
enectually fostered in tho great con-
tinental marts. So was the confidence OF
American ,fnanciers strengthened during
the forenoon, 10 the end that feverish
restlessness vanished from the operating.
leaving the situation much more desirable
and promising.
To touch briefly upon the always i'm
portant matter OF inside influences, the
Russian turbulence being plainly an in
direct disturbing force, II Is generally &C
knowledged now that the gigantic fnan-
cial interests of the country. the moneye9
powers that be, are directing their
energies 10 the quieting and calming OF
the market. These seem TO have taken
the stand that a lively speculation I'm
Wall street might aid the radical element
in congress and exercise a potent and un-
desirable force there. With so important
a matter pending as the regulation OF
railway rates, IL Is apparently good
policy "a feel carefully the way financial
by keeping the market in a subdued state.
and restricting operations to a narrow
groove.
Thia mornings trading was typically in
standardization OF this view. The market
was neither active nor lethargic, neither
sharp nor dull. failing to rise rapidly or
to great heights showing ftttfe tendency
10 depression. Evidently the mightiest
powers In the country are content 10 let
their lesser brethren play the speculative
game with ever watchful attentian that
tho game be PLAYED moderately and with
out damaging roughness.
The mornings market was lacking in
feature trading. The Erie securities en-
toyed notable liveliness. being active and
prosperous from the start. They seemed
to be favorites among the larger dealers.
The fluctuations were not great being
chify fractional confined to narrow limi-
tation. A feature at the opening was the
sudden and sharp rise OF Chicago and
Northwestern. From a weak close yes
terday II sprang forward nearly three
points on the earliest quotation and there
after maintained n vacillating prosperity,
standing In the neighborhood OF 23.
Amalgamted Copper was active. aggres-
sivc and buoyant. seeming 10 enjoy
prestige among the better securities re
miniscent OF lis sensational experience OF
recent weeks. IL achieved no exceptional
rating previous to noontme. Steel OF sew
cIal hands was interesting and attractive
selling well up as steel prices go. New
York Central and Pennsylvania stocks
rendered good account OF themselves dur
ing the forenoon as did also those ex-
cellent Pacific stocks, both Southern and
Union.
Mexican Central. an aggressive security
rot long since. has returned as a feature
or the market and this morning COM
manded considerable comment; not be-
cause OF any unwonted material prosper
ity, but apparently for abstract reasons
something UP somebody's sleeve unwilling
10 come down as yet. All in all the situa-
ton today is more satisfying than any
days condition since last Friday.