The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-04
FINANCIAL

The days trading on the New York
stock exchange has been characteristic
cally drifting. Now up. now down. swayed
momentarily I'm a favorable direction and
again thrown into a state OF unrest and
threatening weakness.
The market opened with a strength
about as that at yesterdays closing. Some
securities rose over night a quarter OF a
point or so others sank to similar ex-
tent There was little evidence OF forced
activity during the mornings trading and
petty fluctuations I'm specific securities
furnished the principal excitement.
Lawson with his violent advertisement
has had seemingly little influence on tho
market. That mastery financier ls too
we'll known TO the denizens OF Wall street
10 make II easy TO cast his threats lightly
aside. Considerable uneasiness was en-
tertained on the exchange yesterday be-
cause OF him and the fear OF him has not
yet gone from the minds OF those In the
trading. Strangely, Amalgamated Cop
per stock is today quoted at a higher
figure than yesterday 1875 being sent over
the ticker shortly after noon. United
States Steel stock has not figured with
more than ordinary prominence in the
days dealings.
The action against the Hartman inter-
ests in the United States circuit court of
appeals. sitting at Philadelphia, mot in
the supreme court. IA. misstated In this
column yesterday has been the subject
OF much discussion today as yesterday.
The decision. setting aside the injunc-
ton forbidding the distribution OF North
ern Securities assets, was yesterday the
sensation In the world OF finance. Its
power, on it's going into effect. would
effectualy dissolve the Northern Sc
curties Merger and exert great influence
on the market.
1t appears. however. that appeal can
be taken from the circuit court OF appeals
to the United States supreme court BY
a ruling OF the former court application
can be made to single Judge OF the
United States supreme court for a writ Of
ceruorari. reviewing the whole proceeding
thus far.
I: is anticipated that prompt action will
be taken In bringing the case before the
highest court. following proper procedure.
and that everything will be done to insure
speedy settlement OF the matter. So
Wall street has a mighty interesting sub
ject for conjecture which will occupy its
idle moments. II any Wall street moments
can be so styled. for the next little while.
Whereas there was sharp dealing yes
terday in the securities most closely con-
cerned in the Northern Securities case.
the discovery OF the uncertainty I'm the
situation dampened the ardor OF the
speculators. so that today little has been
done with those stocks. The decision OF
the circuit court made a profound i'm
preston upon the stock exchange, max.
ing clear the vast potentiality OF the Har-
riman interests as force In American
finance.
Today, increased activity in New York
Central stock, an echo so to speak OF last
weeks favorable operations IN the same
security. has given strength TO one OF the
many rumors that creep into the gossip
OF the market. That rumor is that the
Union Pacific company or interests allied
with II have purchased control OF the New
York Central Railway company with the
idea OF making. through the medium OF
the New York Central, the Lake Shore
the st. Paul and the Union Pacific roads.
a great railway line from ocean TO ocean.
This morning New York Central was
quoted at 145.7.-the highest quotation Il
has reached since the present boom set in
The days trading has been light and
shifty, the market holding its own with
out any notable risings or fallings. Law
son and his colleagues are not yet done
with and Wall street waits restlessy the
outcome OF the latest adventure OF the
Boston author hnancier