Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1909-03-31
FINANCIAL AND COMMERCIAL.
PAUSE IN SPECULATION.
Dispersion to Seek Light on Sources Of
Mondays Sudden Activity.

New York, March Sor-The epecula-
tive advance came to a pause in the
stock market today and there was a
general disposition to take survey Of
the. position and seek light on the
sources and motives OF the sudden ac-
tivity which sprang UP on Saturday
and continued yesterday. The inelina-
ton to take profits on the considerable
rise thus suddenly achieved lay at the
bottom of the check, and the manner in
which this operation was conducted
was accepted as proof of the capable
and skllful leadership into which the
speculation has fallen The profit TAX
ing sales were not pushed at the ex-
pense OF prices but were constantly
renewed when prices showed any ad-
vance and the market any strength
sufficient TO absorb the selling. When
tho realizing had begun to affect prices
and to cause dropping tendency, some
induetnal stock was picked out for a
denomination OF strength with view
to the sentimental OBJECT On the tone OF
the market. The choice of these GUS
tanning points also showed sagacity and
met with good success by the plausibil
ity Of the arguments advanced for the
special strength ia these individual
stocks Erie was the first choice for
this purpose, and the strong statement
of the roads earnings for February
was pointed TO as justifying the rapid
rise In that stock. The large gain in
the net earnings for the month coFrob-
Grated the claims that the road was
definitely safe from danger Of q receiY-
ership whatever the fate of the finan-
cial plan under the restrictions placed
upon its approval by the public service
commission. The rnpvemcpt in Erie
had the additional advantage Of con-
forming to the expected early return
to Wall street of Il. II: Hartman, as
he is credited with q special interest
in the fate Of Erie. St. Paul was the
next favorfte Of the Supporters Of the
market, its raise following assertions
that the Pacific coast extension Is prac-
ticahy completed and capable Of early
earning power commensurate with the
outlay OF capital which has been made
in the building. The professional fol-
lowers Of the market found themselves
less able to find explanation for tho
rise in United States Steel. which came
next in order, though the fact that the
chairman Of the directors, together
with other influential steel men. were
reported to have appeared yesterday
before the senate committee on finance
in Washington in connection with the
iron and steel schedules Of the tariff
bill. was pointed TO as a coincidence
ltldl lllE4lL tAUAolAs OlAiEI 1EOn dnO
steel stocks were affeete1 to some ex-
t..nt i'm sympathy with the movement
in the United States steel stocks. A
movement in Brooklyn Transit brought
into the representation another stock
with an influential speculative follow
ing. The profit taking sales which
were pushed steadily throughout the
session were conducted with great sue
cess by these methods, though the gen
eral list at no time followed the adj
vance in selected stocks in compre-
hensive manner. The news factors re-
he'd on to influence stocks were most
~ the same which were used yester-
day which would account to some ex-
tent for their loss of Influence The
price Of copper was marked UP again
on the New York metal exchange, but
the copper and smelling stocks were
heavy, Stocks. at the close of the day
were showing less responses to the
support than at any other time. Bonds
were steady. Total sales, par value.
$3.50, 900. United States bonds were
unchanged on call.