The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-17
FINANCIAL

The last word over the financial wire.
yesterday afternoon was to the effect
that the days operations involved more
capital than had those OF any other day
since the year began. IL was a day 10
warm the hearts OF speculative persons
whose delight is in a robust progressive
market Speaking generally. securities
from one end OF the list 10 the other rose
In value. some but a little, others consid-
erably. The tone OF the tickings from
Wall street throughout the hour from
o'clock to the close OF the trading was
one OF suhsiding activity. Many OF the
more important securities sustained a
depression so that the world OF finance
was well supplied with material for con-
temptation, good for its evening thinking.
This morning the market opened at APP
parently even terms with its yesterday S
closing. A fractional rise in one quarter
and similar fractional depression In
another served 10 relieve the sameness
OF quotations. Immediately on the open
ing OF operations Union Pacific stock re-
sumed it's leadership as the most aggres-
sive and enterprising security on the gem
eral stock market II was active. pre-
eminently vigorous, for the first hour or
so, though IL seemed TO sustain tendency
towards lower figures. Its rise 10 100 dur
ing yesterdays agitation was not main
tained and from its closing figure OF Il9
IL fell away this morning perceptibly.
Yesterdays records showed the presence
OF 81, 300 shares OF Union Pacific stock In
the market, IL being the most active Sc
curity in the matter OF extensive opera
lions.
There was apparent this morning a
continuance of strength on the part OF
such featured stocks as Southern Pacific,
Missouri Pacific, ST. Paul and Reading.
The behavior OF the market lends relia-
bility TO the belief that the forces at
work in raising the values of securities In
general are healthy. we'll meaning forces
incident 10 material prosperity and
plentifulness or money When the market
advances bodily. seeming TO feel the bene-
flcial stirring evenly throughout its
length and breadth confidence is held and
easily fostered. II Il were apparent that
sporadic energy was being concentrated
behind a single security TO the booming of
1t alone and the detriment OF the COM
mon market. anxiety and righteous APP
prehension would be aroused.
Amalgamated Copper reported this
morning. ready and well prepared for ac-
tive duty. After strenuous experience
yesterday I'm which II prospered well. II
seemed content to take matters more
SdSllN lpudgs luSpSCliOu VI lllt it-
ports from New York and Boston showed
the value of Mr.. Lawson's famous securi-
ty TO be lesening slightly. The late rise In
fortune OF this turbulent copper stock IL
rightly ascribed 10 an extraordinary in
crease in the demands OF copper con-
sumers rather than to aggressive specu-
lation. The foreign market for American
Copper is unusually good at present. be-
ing insistent and demanding.
Wheat laDSed into dnllnAGe vasterd \
and seemed quite content TO remain mac
tive this morning. Bulilsh persons ambi-
tions for s125 wheat are In need OF stlm-
ulous for their ambitions. Wheat Is now
lingering I'm the sl.15 region and there Is
little reason 10 anticipate any great rise
yet awhile. "Confound II. it's unreasona-
bly, high as il is" was trite comment
made before a local wheat board this
morning As wheat subsidies so does cot
ton apparently regain its activity. Yes
terday IL experienced an advance which
has held over TO this morning Well es.
tablished on a 7-cent basis, prospects foi
this discouraging commodity are consid.
erably improved.