The Providence news. (Providence [R.I.]) 1891-1906, 1905-02-11
FIN X HCIAL.

The week end sas brought little materi-
al change 10 the financial situation II
would have been passing strange. indeed
II this mornings activity had proven In
any sense disturbing. There was no logl-
cal reason for either collapse or extrsor-
d,nary advance in business. industry or
finance and unreasonable happenings sell
dom transpire under such wholesome con-
ditions as at present exist The hustle
and hustle Of a week OF very decent
money making sdLsided today into typical
week end profit taking. reasonable ptont
taking that had no maleYolence behlnd IL
snd simply luieted the market without
creating serious depression. with Ian
coins birthday effectually holding up
business on Monday next there are Two
days 10 be lived by speculative indiyid-
uals before they can again enjoy the full
freedom OF their vocation, So there was
double inducement 10 pull out on the safe
sioo this morning.
Z being the short day Of the week there
w3s a lessening activity and graduai
cesing up in fluctuations The week
progress has emphasized one fact strong
ly. That the choice railroad securities
hive been supplanted in the position or
chief Importance by the industrial lead
ers. There IL wealth OF interesting ar
glIment 70 be presented in explanation or
this evident transition and shlftlng OF
fivor
within the past few months in which
The gigantic interests OF the country have
i1culged i'm extravagant gaming among
themselves. tho security values OF stocks
issued by the great American railroads
have been advanced to figures that are
extraordinary.
At present the future welfare OF those
railroads IL rendered very uncertain
through the unknown attitude OF the ma
tional legislature towards certain famll-
lar restrictive measures With so I'M
portant a question as that at present be
fore congress pending it is wisdom par
excellence 10 bide quietly the reaching OF
the decision and 10 allow the railroads 10
remain at existing levels OF prosperity
and value. There were rumors, too. that
seemed 80 good and likely a first that
prices scared; those rumors proved
groundless and nothing came Of them.
At present the railroad situation is de-
void OF rumors OF any powerful import
with American industries the situation
Is very different on every hand are
evidence Of the great strides being made
In industrial progress. Already material
proof is at hand that commerce and trade
are gaining in vigor daily. From all
quarters Of the world come urgent clam
orings for the products Of American fac
tories, mines and workshops. II Is all
very real prosperity and with order books
already overwhelmed with entries in all
sections Of the country there Is every
reason for an advance in the standing
Of Industrial securities. Iron and steel
are unusually prosperous at present and
all indications make for still greater good
=
views in their weekly summaries OF the
Industrial situation speak with marked
optimism and encouragement Of the years
prospects Professional speculation has
centered about the leading ndustrial
stocks this morning as II did yesterday.
No marked increase in values was re-
ported as the result OF the days oper-
ating, however
The condition Of the money market is
stil TO be deplored. II is true case ot
too much Of a good thing" Rates are
low and there is little inducement for the
making OF either loans or cali loans.
Realty transactions the country over are
depressed In this city ~ is almost like
vacation time for the real estate brokers.
IL Is IN keeping with the best economic
teaching. however. TO prophesy a short
shift for such lackadaisical conditions.
An effectual remedy will soon present IT.
self.
The New York cotton exchange was
closed this morning and there was prac-
tically no activity in cotton circles. The
market Is of uncertain tone. Reports
from Liverpool show great strength i'm
the English market. and on general prin-
ciples the outlook is by no means dubious
The bad weather continues in the south
and there is no prospect Of full release
i'm that section for at least 10 days. In
siders say that a bearish movement will
drag down prices on the reopening OF the
exchange on Tuesday. Monday will be
an of day throughout financial circles.