The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-25
FIN * N NCIAL.

Here are the features OF the financial
situation today: Surprising advance in
the security market. prices rising TO un-
precedented heights. railroad securities.
Standard on properties. William X. Van
derbit interests. Union Pacific. New York
Central. Pennsylvania Central and the
rest OF the great progressive roads. These
features are set down In the order In
which they impress the follower OF the
market
Yesterdays remarkable display OF
strength and ability 10 proceed 10 un-
expectedly high values will be memorable
in financial annals. This morning the
good work was continued and in fevered
action and aggressive style the market
advanced in many instances and greatly
strengthened itself In all respects.
Optimsts have looked for modern sd-
vance. but none such as this present one
is There are great things doing in the
world Of money and railroads that serve
but TO make the richness OF the country
and It's interests more and more appar-
ent. Experts devote columns 10 analy-
teal discussion as 10 why prices are so
high in the security market; why rail-
road properties are so exceedingly valu-
OF as tlmid persons reason they should
be. But all argumentative roads lead TO
the indisputable fact that the market Is
so high because there is wealth and
sound influence at play beneath IL.
Economists declare that IL is sn era
OF prosperity that tho country is entered
upon far more remarka BILE than any the
world has record OF. Such actions as are
now evident I'm the trend OF affairs I'm
the stock market seem TO indicate that
economists know well whereof they speak
Such wholesale prosperity as that at
present manifest forbids any attempt at
analysis; it's something 10 be thankful
for TO profit by and 10 wonder at.
The ticker started in bravely this morn
ing and for two hustling hours licked
out news that 10 the speculative mind
was ss good as finding money--thst Is II
the speculative mind was hxsd on the
winning side. Point after point was
passed on the way mp and the valuation
Of properties listed on the New York ex-
change increased by millions OF dollars
II was grand morning for bulls
Union Pacific was the star acrobat OF
all in it's turnings and twistinss. though
its jumps were not high as those OF
New York Central. it's teammate. Union
Pacific sold at better than l37 during the
forenoon. while New York Central
fetched 1e0 with fractional trimmings
These two values are phenomenal when
considered I'm the light OF recent prices
Pennsylvania Central brought IA. a de-
cidedly better figure than its recent
quotations.
The gist OF technical explanations
offered for all this good advance is this:
The Standard OIL interests are largely
the whole show in the present railroad
situation. Union Pacific Is the chief rail-
road in the agitation and ~ 4. controlled
by StaHAara-oii folks william X
Vanderbilt behind New York Central
Lake Shore and other aggressive stocks
is heartily In sympathy with Standard
OIL, unless rumor is all wrong, and this
stirring UP is the material evidence OF
things doing between Standard oil and
Vanderbilt which will greatly beneht both
parties. What those things are are mat
ters OF common knowledge, having been
| rehearsed in financial news since Christ
| mas and even longer
rough estimate places the advance
in valuation OF the security market since
| the week opened as a fun per cent.
| which means a great deal of money II
! has been a notable week and one cal
culated 70 lead 70 some drastic changes
/ in conditions before very long The
! activity OF the security market todsy Y
! has completely overshadowed every other
/ branch of financial engagement The
| produce exchanges were active, but ac-
| complished little In the way Of gains.
| Cotton was a bit stupid