The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-24
FIN * AHCIAL.

The ArSerican market opened strong. on
ell sides were indications Of a marked re-
covery from the desnorsllized conditiop yes
terday. Many OF the more robust Sc
curities presented a decidedly novel ap-
pearance at the opening being first quoted
at figures from one to two points higher
than yesterdays last Iscords.
Almost from the start however. large
sales weakened the market There was
apparent a telling tendency towards a
renewal OF yesterdays apprehension
which caused a reaction towards lower
prices. For the nrst hour the quotations
fell away. though with no alarming ra-
p!dity. Then the potential power OF the
market came to its relief and slowly
the tide turned. In fretful, uneasy oper-
ations the market attained a highering
tendency and prices rose until by noon
quotations I'm most cases discounted the
disturbance caused BY the Russian dis
aster.
The terrible uncertainty OF the present
IN the czars domain hovers menacingly
over the financial world The threatened
collapse Of the Russian monarchy with all
the mighty changes suoh a calamity would
give rise 10 Is commanding the closest
and most anxious attention OF practical
econimists The German and French
bourses are undoubtedly most seriously
affected by the disastrous shattering Of
Russias national integrity and their un-
rest and uneasiness are reflected naturally
In all the other great money markets OF
the world.
The prestige of Great Western rail-
road securities with the Erie and Read
ing stocks. conspicuous among those OF
eastern origin. continues today Erie was
most energetic during the forenoon. being
operated in in large blocks. the general
tone OF the transactions being favorable
10 the fortunes OF that aggressive stock.
No great advance I'm value was achieved
during the forenoon. quotations being
variable in the neighborhood OF 40 and
Al To many minds this Erie stock was
the feature OF the morning market
Reading was also active, its activity be-
ING similar in character to that OF Erie.
Chicago and Northwestern that energetic
hlgn priced security which commanded
such notable attention at the close OF last
week. was fairly strong in the trading or
the forenoon opening at a fractional ad-
vance and shortly thereafter rising 10 223
II failed TO respond as fully to the general
feverish activity as did many OF the aris-
sas as respectfully strong and aggressive
al any high priced stock on the list. It's
fluctuations were OF a prosperous nature
and leaned towards favorable conditions
The fortunes OF Union Pacific and
Southern Pacific were notable from the
start. The speculating and investing pub
lie seems 10 be gradually realizing the
extraordinary promise In the outlook for
Western railroads. The turn OF the COM
is so pronounced that the most wary and
conservative OF minds cannot. but euthuse
over the glowing prospects. The rising
foi tunes OF the stocks just referred 10 in
dicate the presence of a material, real
confidence in the value OF these newly
Prominent securities. Both OF these Pacific
stocks are gradually soaring and Did
fair 10 eclipse the most daring achieve
ments prophesied for them by optimistic
sympathizers OF late years.
Steel stock In an attractive proposition
today. maintaining a steady. progressive
activity. The prospects of this tremendous
Industrious security are fairly appalling TO
the mind little used TO dealing in matters
of such acute prosperity Amalgemated
Conner has been inconspicuous today. at
least until noon time Il had poorly be
stirred itself and mad made little attempt
at bettering its condition. The copper SIT
uatior is one commanding the attention
OF the whole country IL being extraordi-
narily inviting and full of promise.
The recent dissipation Of the cloud OF
threatening labor difficulties which mem
sced the prospects OF the pennsylvania
road has served 10 enhance the stability
and increase the value Of that road 5
stock. II was a notably strong security In
the mornings market. Big Four quota
tlons indicated lassitude and indifference