The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-10
FINANCIAL

| y " VI
Tickers on the Providence ends OF New
York wires told encouraging things this
morning about the conduct OF Wall
streets affairs. The market has been
stronger today than for some time and
the istlessness OF recent trading has for
the while subsided. The strengthening OF
tho market was general through the
| hours of trading. Opening quotations
were very satisfactory. indicating "A IA
vorabie agitation towards better prices.
For the first hour trivial fluctuations
varied the monotony of a slowly rising
market, as little gusts OF wind relieve the
tedium OF a calm. bright day. The mar
ket lacked In sensational features and
considering the advance In prices It was
singularly inactive. The character OF
ticker reports indicated the presence of
professional dabblers in small shiftings
10 a great extent on the exchange.
Activity was pronounced I'm the wheat
market. decided impetus being given TO
the bullish trading In that commodity.
Reports from tho great wheat growing
the early harvesting and the market quo
tations soar In accord Cotton has not
been fortunate today its earliest prices
being discouragingly low and It's progress
during the forenoon dull and disappoint-
ing. Produce in the broadest sense has
Jared well today and promise to continue
in prosperity.
Railroad securities have been a little
lifeless. in view OF the activity they en-
ioyed yesterday and last week Erie stock
was stupid and inert during the forenoon.
Reading holdings braced a little but did
not feel the upward flow OF the market
as fully az was expected. The Pacinc
stocks showed up we'll this morning and
promised much activity in the near fli-
ture. Rubber securities scared two points
early in the day but soon subsided to nor
NAL conditions. Amalgamated Copper felt
the general Improvement, gaining slight
ly I'm value.
One OF the most reliable influences TO
which this little briskness Of the market
may be sscribed Is that increased posi-
tiveness in conversatiSe circles that an
extra congressional session is not at all
likely and that at the regular session no
attempt TO establish unfavorable legisla-
tlon I'm probable. II Is generally conceded
that washington will not NEEDLE with n
nancial legislation 70 any extent this
year Tariff revision and railroad restric-
ton have been veritable menaces 10 the
repose of Wall street so that any hint
that these dangehs are not real dangers
is eagedly taken up by the spectators.
Yesterdays agitation in Mexican Cen
traI securities, arising from the intelli-
gence that the Mexican government is
planning TO establish a settled par OF
monetary exchange In that country. BY
giving the Mexican peso a value OF 90
cents in United States currency the net
earnings of the Mexican railroads Will
be increased s per cent. A report indi-
eating the imminent passage of an act
instituting the deiniteness Of relations
between Mexican and United States cur
rency caused quite a prosperous stir in
Mexican railroad stocks Today, how
ever the agitation is 80 merged in the
general rise OF the market as TO be
inconspicuous
Socially, comment s made today upon
the strength and welcome activity Of the
market. Produce reports are scanned
eagerly and there is evidently revival
of interest that lapsed so in the recent
lassitude OF finance. The prospects for
the uear future are generally regarded
as good. The speculative element Is
looked upon TO remain active during the
rest OF January and to prepare the mar
ket for its February and March stu
pldty. which is proverbial.
Prosperity Is the dominant tone
throughout the whole financial system
Money is plentiful and the worlds great
markets TEEN with material evidences Of
abundance and the richness of the sea-
sons productions. 1t Is good to read
between the lines OF current financial
reports the story world wide plenteous-
ness and prospects OF surprising rich
ness
At the chamber OF commerce this
morning the newly established weather
map a truly fine Institution, proved
more OF an attraction than the old fa-
miisr ticker and tape basket. The hand
somely appointed map and adjacent crop
bulletin boards presents a very neat ap-
pearance stretching across the west end
of the trading room. The map Is a
reproduction OF the small maps com
monty displayed ar city hall and in the
postoffice II is some eight feet long
and seven wide, handsomely finished in
mahogany.
on either side are placed ornate bull
letin boards. a single state being as
signed TO each one, upon which are 10
ports from hour to hour. young man
from the local weather bureau at Brown
university was present at the chamber
OF commerce this morning giving it's
members a business-like and timely dis
course on weather manufacturing.
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