The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-07
FINANCIAL

Il
A dull. short day In the stock market.
An embarrassing opening. lazy fore
noon and 10 o'clock closing with prices
practically unchanged A festureless
market Is today's most frequent com
ment The security showing the great
est activity this morning was Reading
railroad stock. which experienced de-
cided boom.
AS was the case yesterday, the trad
ing was today slight, unimportant, typ
ically professional and OF little conse-
quence TO the general financial situation.
The hopeful agita ton during yesterday =
closing hour, tending 10 emphasize the
strength underlying the failing market.
was anticipated this morning. but the
earliest trading today failed to indicate
its preservation over night.
The persistent dullness yesterday served
TO discourage many spectators and In
vestors who saw in the condition indica-
tions. so they thought. OF weakness and
dissolution. The little awakening tow
ards the close partially dispelled the idea
and made prospects generally brighter.
The outcome OF the weeks trading is
| far different from that which was looked
for on New Years day.
| Stocks have been generally heavy
this week. in the parlance of financial
circles. Several causes are ascribed 10
this unsa tisfactory condition. The brisk
ness OF trade after the Lawson scar
had passed gave rise TO considerable
profit taking, a very legitimate practice,
| though one inclined to take the wind
| out Of the sails OF the great ship Of
| finance.
Recent revelations OF extensive and
| damaging rottenness In certain high
financial circles have had a detrimental
effect on the market. The unwholesome
story of Atchison- Topeka rebate arrange
ments has done much in deadening ac-
| tivity In the railroad securities market.
| More vicious stories concerning the par
| ucipation OF a great national bank OF New
York city In an offensive stock washing
deal have lately disturbed Wall street
and harmed the market.
Public apathy continues and the mar
ket today has been operated chiefly by
professional meddlers in petty iuctua-
| tions. The ticker has clicked the rise
and fall OF securities for but an eighth
| or quarter Of point. Considerable
| lazy trading has been done, causing and
| resulting from these trivial fluctuations.
! In the local Offices last nights gale has
been more discussed than have been mat !
ters pertinent TO speculation invest
ment.
Reliance is fostered by the reports OF
| strength In foreign markets though a
| general sense of fiatness and inertia is fel,
through the worlds financial fabric OF
timely interest Is the report OF growing
uneasiness on the part OF Russia over her
war loans. Though participation privi-
| leges in the loan were at a premium to-
day. an atmosphere OF disturbing uneasi-
ness seemed to surround Russian trading
| Financial eyes are turned wistfully to-
wards Washington today. A conference
is destined TO take place this afternoon
between the president and the admins
tration leaders In the senate and house
OF representatives. at which a program
governing national legislation is to be at.
tempted. The question OF the wisdom OF
calling an extra congressional session
later in the year for tariff revision is also
expected to come up for consideration Sc
Wall street largely awaits news OF this al
important meeting.
Stocks lately featured in the trading are
inclined to inactivity. Amalgamated Cop.
per has experienced mere fractional frlc.
hNa'ipAiS 'DNhy' opciihe ClOSlnB IN ttt
noighborhood of IA. New York Central
Is very dull today. the trading being
neither favorable nor brisk. The ticker
furnished scanty food for financial refec-
tion this morning and locally there was
little action and little comment. except q
general one upon the lifelessness OF the
market. The Lawson scare has been en-
tirey dissipated and the broadcast nnan.
cal circle has nothing notable in the way
OF sensation.