The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-28
FIN X AHCIAL.

Buy speciaities on drives" say the
majority OF stock market advices today
That trite order indicates precisely and
briefly the situation in the security de-
partment OF finance. In leaps and bounds
the market has advanced. within the
veek. to A point where valuations are so
high as TO render discretion necessary In
even the lightest manipulation.
Saturday was a great day, Monday a
greater one. while today the market
rests uneasily after It's violent upheaval,
neither suffering depression nor exper-
fencing advance The opening or the
market was satisfactory ana Tor Inc
FIRST little while indications OF further ac-
tivity were abundant. But the energy
that IL beneath the market Ia not tire-
less energy and after such remarkable
feats of strength and agility as those
recorded OF late n is not surprising that
the market relaxed in the forenoon,
All stocks were early astir and were
actively dealt In, but fluctuations were
fractional and OF far less consequence
than those which YESTERDAY mace the
country wonder southern Pacific. Union
Pacific. New York Central and all the
other greater stocks were in the lead
during the forenoon. being always most
active and subject 10 the greatest rises
and falls. Unti noontime there was no
manifestation OF unusual operating In
the stock report
Experts reported this morning their
findings on this most recent and decided
stir in the market The larger NUMBER or
them insists that all this Increase OF
vauer is merely natural, that properties
and industries behind the stocks are
actually worth what those stocks now
EXPRESS as their values and that stiil
higher prices may reasonably he expected
So they advise the speculator 10 ouy IN
high priced stocks when they tumpie
point or so in order TO be at the grand
rebound-for grand rebounds are certain
to occur
Tn. neatness with which the last shake
up has been accomplished 10 PROOF posi-
tive that the market Is practically wholly
in the hands ~ experts Its professional
aspect saved II from the wild confusion
Of a public demonstration. Had the gen
eral public been largely represented IN
the marekt there would have been WHO
happenings on Saturday and on MONDAY
but the public were out OF II and talk Is
unnecessary.
In the face OF such extraordinary pro-
cedure in the stock market other markets
have been somewhat neglected indns
trial stocks have advanced s!HPa'he
Totally and seem subs tantially founded
Industrial reports are good and the situs-
tion today shows little change over that
Of Yesterday No Developments have
arisen IN the local situation worthy OF
pa articular exploitation. Business pursues
a. calm and -unruffied course here at pres
ent
In the cotton market there Is little TO
be said. but that little IL good. The de-
mand for spot cotton is better. Southern
ports report fair business with prices
easy The weather difrcultiss seem 10
have entirely disappeared. while the at
titude OF ths southern holders towards
northern traders is conducive 10 an cas-
Ter market. Prices from New York today
have been rather steady, though peiow
the level established last week
Yesterdays sensational break In wheat
which caused SO great an agitation among
speculators has not been followed today
by any special disturbance. The wheat
market has been Irregular. as was 10 be
expected but has not tumbled further.
The popular explanation OF yesterdays
collapse II that which places the cause
with that group OF brokers. the Gates
crowd, which oornered wheat some few
days ago--or II IL didn't corner wheat
bought so heavily IN II as TO carry the
price well over the l20 mark
The supreme court at Washington takes
up the Northern Securities case today
according TO authentic advice, and the
whole country eagerly awaits It's find
ings I'm the matter Doubtless the stock
market will lose much Of Its activity
until after that case Is settled.