The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-31
FIN NANCIAL. X

American securities are fast approach
Ing condition OF prosperity far more
extravsgant and economically rational
than any Il has been in for many months.
Today there is convincing evidence that
a great game Is being played by the finan-
cial kings OF the country. a game destined.
when solved, 10 change the aspect OF the
situation I'm finance extensively. The
greatest interests alone are dominant and
all lesser forces are for the whole substi-
diary and inconsequential The public 10
not an active factor in present operating.
being apathetic and 80 .awed. apparently,
by the increasing magnitude OF specula-
tive dealings among the Titans OF finance
that II is fearful OF venturing at all into
the whirl OF active trading The little
traders are for the most part sellers, their
holdings being summarily snatched up by
the big interests as meagre ammunition
with which 10 wage their pitiless wars
amongst them.
To so a little step further tho great
fight is being waged around the vast
railroad securities. Enormous trsnsac-
tons are hourly recorded in Chicago and
Northwestern, Union Pacific, New York
perties. Rumors of several advantageous
resdjustments of relations between GER
tain powerful railroads have been recent
ly noted In the column. Today there is
everywhere a greater certainty felt that
such economical coalition OF forces is pro-
bable. In the mornings trading conspic-
uous strength and aggressiveness were
shown by all the large railroad stocks and
the earliest transactions of the day were
of exceptional volume, echoing the
achievements In yesterdays dealing, that
day proving a milion-and-a-quarter share
day.
The opening was fractionally of The
big stocks were little changed and at
once proceedd to great activity. Union
Pacific became prominent, though II
semed less energetic than both Northwes-
tern and New York Central. The rumor
insistently voiced abroad that satisfac-
tory arrangement among those three
great properties was soon to consunmate
led Interested eyes towards the posted
quotations on those stocks. II rapid pros
porous advance and large dealings are in
dicative of fortunate agitation in Sc
cGrity then are those three select stocks
most fortunately agitated. Union Pacific
stock was uneasy and vscillated during
the forenoon around 12s, than which point
IL did not reach higher before II o'clock.
Northwestern rose rapidly and stood but
one point below 250 in midmorning. New
York Central was especially active show
ing O surprising activity and ability TO
sustain highering prices Quoted a l49 IL
| showed up we'll among the leaders.
one Of the most interesting railroad
stocks during the morning was that of
| the so-calNd Big Four road. the Cleve-
land, Cincinnati. Chicago 81 ST. Louis.
On a very plausible report that sub
| stantially better dividend was 10 be de-
clared during the day the fortunes, OF
that stock rose prosperously II being
higher by 10 points than its prevaiing g
values last week. Erie. Reading, Penn
sylvania. Rock Island and Southern Pa
cific. all were active and commonly
strong All these roads are concerned in
the rumors OF a grand railroad upheaval
presently TO occur.
There was much talk today Of that de-
cision handed down In the supreme court
yesterday granting the application OF +.
| II. Hartman and others for a writ OF GER
tiorar 10 review the decision OF the cir
cult court OF appeals in favor OF the
Northern Securities company That de-
cision simply means that the supreme
court will consider the claims Of the
Union Pacific interests who contend that
they are entitled to receive pro rata reim-
bursement for all Northern Pacific stock
placed by them I'm the Northern Sc
curities merger Space will not allow of
fuller consideration of the merits Of
the situation. The court has appointed
a hearing on Feb. 20. Meanwhile nothing
he