The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-18
FIN X N NCIAA.

Another week end has come and few
week ends in late months have been more
encouraging. In many respects It has
proven the strongest week end tho coun-
try has had since strength returned to It's
markets and its industries. Cotton and
Union Pacific have been tho features ex-
trsordinnry In the days business.
Optimism has been riot In the land for
soma time. Predictions have been made or
such great prosperity as the country
never has known Enthusiasm has grown
exceedingly OF iats and Indications at the
close OF business today point towards un-
usual developments during the coming
weeks. II may oe said that today IT was
apparent that certain great forces acting
for the good OF the market, the term be-
ing used inclusively. had combined In
furtherinR the ADVANCE OF values and IN
their combined strength had humnled
those opposing forces at work restraining
tho market
II has been a year Of specialization In
the security market thus far. An apathet-
&c public has left the mighty professional
interests 20 their own devices and stock
after stock has risen under the benign IN
Auence OF their "avor. Union Pacific as
chief security OF q large and very import
ant group OF western railway stocks has
sll along been the recipient OF notable
and netterinE attention Vast investment
purchases OF that stock have been mace
and it's fortunes have advanced at mer-
" rate.
This morning n has shown extraordi-
.frti ho active
snv other security and In the two hours OF
trading has advanced 20 a considerably
lJsher level than any II has vet reached.
Reliable opinion declares that this eScep-
ticnal prosperity ,s the consistent reward
II true merit. Investors are recognizing
he rare qualities or Union Pacific stock
end are turning eagerly 10 IL with funds
cor extensive purchase. Projectors claim
that within a short time the stock will
eel! AZ $50 or higher. Two years ago II was
'csted on the speculating public az oI'
more or less.
Circumstances cnnspire 70 make the I'm
mediate future OF Union Pacific decidedly
attractive It's earring powers are excel
lent: It's relations IN the Northern Secur'-
ties situation are of such nature that IN
case the supreme court refuses 10 open
tho Northern Securities case vast sum
OF money I'm accrued dividends will ind It's
way into the treasury OF the Union Pa
cihc ana It's strategic position In the
Northwestern railroad situation will be
greatly strengthened. It's interest In the
prospering fortunes OF Southern Pacinc
are bound 10 bring in substantial returns
In One II II declared conservatively 70 be
a property soon 10 yield per cent on its
Common stock with a surplus earning
power equal X not In excess OF its diVi-
dend disbursement; IL will stand on equal
footing with such excellent railroad prop
critics as Pennsylvania Central or New
York Central. Great confidence is felt In
the strength OF this stock and roseate
prospect declared for IL. II was easily the
feature OF the mornings trading.
Other specially stocks prospered ss
we'll Southern Pacific advanced sympa-
thetically and the great railroad proper
ties commonly sought and achieved high
er levels Ind-istrinls were strong Steel
and iron STOCKS Iave made creditable ad-
vance within the week and exhibit merito-
rious soundness. Copper is talked OF en-
Enthusiastically add many speculative
minds pronounce Il as the coming metal
as far as prosperity Is concerned. NO
great stir In copper stocks was noted this
morning.
Cotton was active and in line for sharp
advance today. Favorable developments
have agitated the market. Prices rose
nearly % points on March cotton with
corresponding advance on later options
The Liverpool reports were conducive TO
frmness and advance. There was no spe-
cial sensation concerned in the morn
iugs rise. Locally, cotton continues very
dun and promis IS little activity for the
next while. The mill men are all stocked
uy with II and i1-cent cotton and can't
afford TO buy IN the present market until
they have rid themselves OF that more ex-
sive supply" said a wise one this morn
ing
Wheat has fallen back below 100 and the
agitation Of Thursday and Friday ne
longer stirs the market. All conditions
point 10 a grand good week 10 come and
the business world may rest easily untn
Monday.