The Providence news. (Providence [R.I.]) 1891-1906, 1905-03-03
FIN * HCIAA.

Business is cheerful and quiet today,
just about as II was yesterday and rhe
day before and as II is very likely 90 oe
tomorrow. Whether man be a fol-
lower OF the security market. indus
tries, the produce exchanges, commerce
or the business OF the banks he can find
but little in the present situation. nation
al or international with which TO appease
his appetite for sensation.
General influences not apparent today
in business are these In the first place
the weather throughout the country has
so far moderated as to relieve the try
ing conditions upon the great national
| highways the railroads. and an incress-
ing degree Of warmth stimulates Ameri-
can commerce and domestic trafficins 10
greater action.
Then there is the firm undercurrent
OF invincible national strength: that
strength which is the possession OF nat
ural resources OF SURPRISING richness
| with competent labor and capital TO work
them, that strength which Is freedom
! from internal dissension and bitterness
between classes that strength which is
the great enlighment that prospers here,
the spread OF education and of such other
forces as makes the people appreciatve
of their opportunity.
Specifically, on Saturday President
Roosevelt takes his oath as president
of the United States ON that day he
presents to the public an inaugural adj
dress in which he Is expected TO voice
his opinions upon many matters vitality
interesting 10 the people in general. The
business world eagerly awaits this mes
sage wishing 10 learn from Mr.. Roose-
Welt what phases Of the business stua-
tion enjoy official endorsement and those
that call forth executive opposition.
| The inaugural address is the most inter
esting ma tier before the world of busl-
ness today.
I'm the stock market there has been
little activity comparable 10 that pre-
vailing earlier in the week There Is a
bearish element at play in the market
now which starts a declining movement
every little while with but slight results.
Whereas there are instances OF over
valuation existing in the security market
! today the general condition is one of
reasonable and consistent stability with
much logical leeway in the direction Of
higher prices. Under present circum-
stances nothing viii happen 10 greatly
stir up things and no change is looked for
right away.
II is generally conceded that the
strength OF the stock market has been
built up more through investment opera
tions than through speculative shake-ups
Money available for loan purposes is so
much in excess OF present demand that
those possessed OF surplus funds Gave
gone into investment buying heavily. 1t
is reported this morning that money Is
somewhat steedier and that ratas are bet
ter.
Certain developtrorts lately have
demonstrated one fact beyond doubt The
wonderful accum uation OF funds in the
vaults of trust companies throughout the
country has rendered IL impossible to COR
rectly guage the strength OF the financial
situation. The trust companies are not
required 10 publicly announce the weekly
progress of their business so that the
weekly bank statement issued by the
consolidated banks OF New York city. IS
but a partial exposure OF the money
situation: the whole story cannot be
learned.
Industrially reports today lend further
emphasis to tho fact that consumption
OF domestic products is far in excess OF
any previous records, thus insuring
year OF phenomenal money making. Cop
per and steel stocks among industrial Sc
curities were most active today
commerce ana general business purSues
an unruffled course today. being a bit
better than at any time since the year
opened. Locally each day brings to light
more and more evidence OF the spring
awakening Stores are filing up with
spring displays and everywhere the shop
keepers indicate their expectation Of
brisk and profitable season. The move
ment Of money in town this week has
been slightly In excess of last weeks
record
Cotton continues dull. The demand Is
good at current prices but the southern
planters entertain hopes for better money
and stubbornly hold back their cotton
| Wheat and corn have not been active to-
day. In fine the day has been a cheer
full and quiet day.