The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-27
FIN X HCIAL.

Business. in the inclusive sense. presents
a cheerful aspect this morning. 1t Is by
far the most wholesome Monday morning
or the year thus far. Those qualities
which lend whoesomeness and cheer 10
business today ara real qualities. ex-
pressed in cold-blooded figures and un-
questionable facts; they are not fictitious
qualities that emanate from over Jealous
financial prophets and have no firmer
foundation than general credulity and
rampant optimism.
The country is waking out OF it's long
winters sleep. The past month witnessed
several manifestations OF latent power be-
hind national business and on Saturday
the world stood amazed at the remarkable
exhibition OF forces not spent that sent
prices in the security market soaring 70
new heights. From all quarters OF the
land come reports indicative OF general
stirring up OF dormant activities and a
realisation OF much new success which
has been foretold during the winter.
New Industries are springing up here.
there and everywhere affording opportu-
mites galore Tor tne VI ihi'
capital and employment Of surplus labor
Conspicuous among these is the incorpor-
ction Of a great coal and iron company IN
the far south. embracing property In Ala
bGma and neighboring states or rare
value. This $50. .OO010 corporation IL des-
tined TO become a vital factor In the IN
dustrial expansion and evolution OF the
country. All coal and iron stock based
upon southern production experienced
ad
commonly looked upon as capable or
much greater rising.
Transactions I'm real estate are becom .
ing more frequent as the winter breaks !.
Here in Providence the past week proved
a propitious period although the volume OF
transactions was slight In comparison
with that which facilities here would
warrant. The many brokers In the city are
satisfied TO let well enough alone: 10 let
what business there is lie spread around
among the elect in the profession and
wait for better days thankful that their
business IL not altogether dead. One OF
the larger realty deals consummated
within the week was that In which prop
erty valued at s35. 900. located on the cas-
terly corner OF Chestnut and Weybosset
streets, was sold TO NJ. Hollis Arnold,
thence to Samuel w Hall OF North Ess-
ton, Mass. Other deals were put through
TO the satisfaction OF the local crowd OF
brokers.
There IL loosening up Of business
operations here that is In full accord with
the larger agitation I'm the country as n
whole. Local industries are humming
louder than ever and matters commercial
are In such condition as TO cause salts
faction. IL Is a natural and general phe-
nomenon. this early revival OF business
activity and presents no phase demand
ing special recognition. Industries, manu-
facturers, commercial enterprises and al
other businesses rest commonly upon the
foundation OF local financial integrity;
local financial integrity reflects that OF
the nation and so unless specific influences
for good or for bad appear in the com
munity there is little 10 say but TO re-
port the rising and falling fortunes OF
the national monetary system. the pro-
gress OF matters at the source OF ma
tional prosperity.
In banking circles there is no com
| plant; nor Is there any shouting over
| great good fortune suddenly met with. II
| sluggish were n more delicate word 4
might aptly be applied in speaking o.
local banking operations. The money
| that is known TO exist so plentiously
/ in the land is proporrionately abundant
here in New England. and the extrem'
cheapness Of money which deprives many
| hundreds Of money lenders of their right
| full returns is effective here in reducing
the moveemnt of funds to a mere gentle
stir that is as little profitable as note
worthy.
In the security market today irresu
larity prevailed with commendable activ
| ity and continued special movement II
! particular stor-s. The greaat question
| which now confronts the speculating ele
ment. that by its shrewdness and fool
| hardness makes the wheels OF finance
| TO go round. is whether or not the mar
| ket is inflated. n stocks are merely ris
Ing 20 values rightfully their own ther
| further bullish manipulation Will b'
| shrewd II. on the other hand, values
have been outrageously overreached-snC
many there are who think they have
then bullishness will be akin to foolish
ness II stock market traditions are re
| liable