The Providence news. (Providence [R.I.]) 1891-1906, 1905-01-12
FINANCIAL

The market continues strong and ir-
regular. Today's opening was active and
favorable TO those ambitious for higher
prices The principle trading OF the morn
Ing hours was in Union and Southern Pa
ciic securities. such marked activity be-
ing confidently expected.
The ticker reports show today that the
American stock market is stu subject TO
the whim of professional spectators.
Little rises and falls are frequent and
local wise acres read between the ticks.
30 IN speak. the petty operations OF those
speculative fiends that either from neces-
sity or uncomfortable habit play the
game with the uniest shiftings.
The sentiment prevailing about town
this morning is a sentiment OF satisfac-
ton. The gentlemen who are acquainted
and in active touch with the market,
either as spectators or as investors, seem
pleased 10 stand aloof from the trading
convinced that security values are des-
tined 10 improve.
The market is exceptionally high this
week. comparing favorably with the
record market OF last year. Many securi-
ties have surpa ssed last year's best quota
ton. others have by no means attained
that figure. but broadly estimated today 8
market is about on a level with that most
prosperous market OF 1904.
Considerable comment 10 this effect is
voiced among local brokers and their
the feature of the market today. Yester-
days closing quotation OF III on May
wheat was the subject OF many heart
to-heart talk about the local offices this
morning.
The quotation is unusually high and GER
tain OF the more cautious ones this morn
ing talked Of collapse. Remember" said
they, "cotton--how. not many months ago
xk-ac 90 hioyhs rafuan1lar what han
pened 10 II and hook at II today Others
failed 10 see any reason In such caution
Wheat Is at royal good figure now the
adjustment between production and DO
mestic consumption and expectation is
nice. so that there Is little possibility OF an
overburdened market.
Some minds see such hopefulness In the
situation that advice 10 buy on a decline
is confidently given. The fluctuations are
bound 10 continue in adverse direction
but at every such reversal there Is ap-
parently created reactive force sufficient
TO carry prices higher than ever on the
market . turning.
Much comment is made today upon the
uncertainty OF information from Wash
ington. Just what is going TO happen In
the tariff reform agitation Is the question
perplexing the speculative minds OF the
country this morning. The result OF the
increasing doubt is the checking Of ac-
tivity in the market All day long yester-
day contradi ctory reports were circula ted
about the country. some maintaining the
truth of the story that the president is
determined TO act in the matter, others
declaring the rumor false, Providence
minds seem TO be similarly divided No
one can really tell anything about II,
said one well able 10 opinionate In the
matter this morning. "All conJectures
are as likely right as wrong, but are in
no instance reliable.
There was a little stir In Pennsylvania
Central stock this morning. favorable To
the fortunes of that security. Railroad
stocks in general were stronger. Copper
continues TO soar and Thomas w. Lawson
is of no more present importance In the
copper market than last weeks snow
storm is 10 this weeks car traffic.
At the Chamber Of Commerce yester-
days meeting has been we'll talked over
today, satisfaction being expressed on all
sides over the officers chosen for the
year Sentiment is decidedly strong In
favor OF n return to the original name.
the providence Board of Trade. The
big weather map continues to be the OBJ
feet Of main interest in the stock room
and this present storm seems quite like
an old friend to those who studied the
chartings OF yesterday. Providence flnan-
ciers will not be caught unawares here
after: umbrellas and galoshes Will be In
readiness when future storms break.