The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-18

The market this morning presented, a
trim appearance Opening prices were
practically unchanged from yesterdays
closing figures. From tho first there were
unmistakable signs OF prosperous activ-
ity In the first hour OF trading prices
rose rapidly values increasing two points
generally speaking. Professional tactics
were apparent during the forenoon in the
character of the reports from Wall street.
Little fluctuations up and down seemed
TO furnish incentive for a wealth OF spec
ulative operation.
The dominant feature OF trade this
morning was Reading common. After a
notable agitation yesterday, IL being by
many regarded as the feature OF that
days trading, IL commenced promptly at
the opening OF the market today 10 In
dulge in alarming activity First quoted
at Sos4 II soon was selling for Sh. Not
only was the trading In this security brisk
out or important eXtensiveness. Seven
thousand shares were sold during the first
hour In a single block, the price being
quoted at S4%. Smaller blocks OF l0Ip
shares We're operated with at prices rang
ing from 81 10 70. Just what forces are az
work behind the Reading stock are not
apparently understood and it's rising for
tunes are today wondertngly commented
upon.
Union Pacific stock, which until yester-
day was the featured security OF them all
is reported as strong and vigorous today.
It's earliest quotation was In accordance
with It's close yesterday, but II rapidly
rose and stood at 1917 before the first
hour was completed. IL seems 10 have In
no sense sustained a reversal OF its pros
perty but simply 10 have yielded the place
caught in the tide OF good fortune and
at present is enjoying a novel boom.
Southern Pacific and other great western
traction stocks have displayed notable
81 ngf Tod nd In NTH a
general trend OF things have risen appre-
ciably In value,
Amalssmated Copper has had a unique
experience since the opening OF the week.
Yesterday II so far collapsed towards the
end of the days trading as 10 achieve the
undesirable distinction OF being the weak
est stock OF them all. A professional ele-
ment of a bearish kind seemed 10 turn it's
attention to the Generalization of copper
stock. to the end that its value tumbled
~ points. Singularly there were specula-
able turn OF the days trading. over
looking the splendid advance in that Read
ing security, the trend OF affairs was an
nounced as unmista kably bearish.
Unlike the sitaation in regards that last
named. militant security. there is some
semblance of reasonableness In the
theories exploited In explanation OF the
drop In copper. None can question the
sul passing prosperity Of tho coppermining
industry; no denial is made TO the stories
OF increased profits pouring into the
Golfers Of the great mining corporations.
ON Thursday a quarterly cividen is TO b.
declared by the Amalgamated Copper di-
rectors. 1t Is commonly understood that
that great corporation has in view ex-
tensive improvements, alterations and en-
largements throughout its tremendous
system Of mines and smelters, operations
that will demand heavy-exeeHti+t tttres-ef
money Now, In the speculative world
has arisen a doubt concerning the out
come OF tomorrow's directors meeting.
many cautious persons contending that
no increase OF dividend will be declared.
So is arisen a tangible cause for de-
preston. Professional spectators OF bear
ish propensities seized gleefully upon the
uncertainty OF the Copper situation and
strove manfully and well TO pull down
prices. This morning quotations show
rallying tendency on the part OF Anal
gan.ated Copper,
Other feature securities have enjoyed
plain sailing today. there being but little
sensational operating, a dearth OF dis
astrous fuctuating and few Significant re-
ports other than those of prosperous
portent. Locally there is apparent an un-
usual lasstude, a tendency TO scepticism
and n seeming desire to stand apart from
active operating. In view of the ap-
parent vivacity and robustness OF the
general market this listlessness Is strange.
rather unnatural and discouraging.
Wheat is active today. At lis or there
abouts. prospects for 125 quota tions seem
less real than they we're some few days
since. There are many though that
cling fondly TO their expectations and de-
clare that wheat at si.25 will be a reality
before tho country is much older Cotton
fuctuates between 615 and ~ cents. pre-
vaillng reports favoring the higher quota