Norwich bulletin., 1909-07-27
FINANCIAL AND COMMERCIAL.
WEEK OPENED sTAeNANT.
Business Practically at a StandstiII-
 Tariff Delay a Factor.

New York. July 26.-To all intents and purposes the stock market was stagnant today. There was a brief period of slight activity after the opening and some stirring towards the close again. In the interval business
 was practically at a standstill and the
 ticker recorded only at long intervals. The speculative contingent seemed de-
 termined to await the outcome of the
 United States Steel dividend meeting,
 which is not expected to be known un-
 til after the market has closed tomor-
 TOW. The indications of further delay
 in the adjustment of the tariff con
 troversy at Washington seemed to have
 some effect on discouraging any activ-
 ity in the market All other consider
 ations were ignored, although some de-
 velopments regarded as important in
 their bearing upon the general outlook
 were included in the days news The
 abundant rains reported in the corn
 telt were accepted as highly gratifying
 assurance of carrying that great crop
 ah additional stage towards profitable
 maturity, although the month of Au-
 gust, with its critical trials for the
 corn, is yet to, come. More interest
 centers at present in the corn crop
 than in any other from the speculative
 standpoint, so that the helpful weather
 conditions for it were beneficial fac
 tor for values. The factor did not op-
 crate on the prices of securities and,
 in fact, Rock Island, the most impor-
 tant of the corn carriers, suffered from
 pressure of profit taking sales after a
 brisk fractional advance at the open
 ing proved so scanty that the light sseliing to take advantage of them
 proved more than sufficient to drive
 prices downwards. Trade news of
 steel was good and included an an-
 nouncement that the advance in prices
 should be enforced in August instead
 of at the beginning of the year as at
 first contemplated. The raising of
 prices of bars and. shapes by the United States Steer corporation is ex- pected to occur at the same time This
 is a following of the advance already
 :n force by some of the independent companies. United States Steel failed to benefit from this trade news or from a suggestion which found currency in
 a limited speculative circle that to- morrow's dividend might be made at the per cent. rate as a compromise between the present rate and the per cent. rate which some of the specula- tive buyers had hoped for. The price was run down to 69 3-4 but met sup port about 70. Amalgamated Copper was unfavorably affected by the re- newed decline in copper metal in the London market and the fear thus aroused that ~ther recent recovery in the price had been manipulative in it's origin. There is some growth in the supply of mercantile paper as the sea- son advances. It is expected that large lines of eastern paper held by western banks on account of scanty supplies ia their own localities will run to ma . turity as the demand for crop funds develops and renewals of these notes will come to the eastern banks for ap- p1icatiOn. Bonds were steady. Total sales. par value, $2.01S,0 900. United l States bonds were unchanged on call