Norwich bulletin., 1909-06-11
FINANCIAL AND COMMERCIAL.
LoNe sIDE oPERATIoNs.
Conspicuous Buying Was Restricted 't
 Few Leading Stocks.


 New York, June 1O.-The action of
 the stock market today indicated the
 resumption of some important opera
 tions on the long side. This reassured
 sentiment amongst the board room op-
 orators and traders and they refrained
 from attacks on prices. Transactions
 fell below the recently prevailing vol ume and the conspicuous buying was restricted to a few leading stocks.
 Signs of profit taking sales were still
 in evidence at a few points and the
 advance was uneven, leaving some im-
 portant laggards. Union Pacific con- tinued a leader of the upward move
 ment in contrast with the sluggish movement of Southern Pacific. The latter stock was freed from the positive
 weakness which it showed yesterday. Northern Pacific was even more prom inent than Union Pacific. Its rapid ad- vance was accounted for by rumors that steps, were being taken to intro
 duce the stock to the Paris bourse in the same way as has been done in the case of United States Steel The de-
 nials from bankers interested that any
 hitch had occurred in the plans for trading in Cnited States Steel in Paris
 as was rumored with depressing effect yesterday relieved United States Steel from pressure and it more than recov- cred it's quarterly dividend during the day. The stock was helped also by the report of the reopening of the Ems ley, Ala, steel rail mills. Feeling re- garding the steel trade continues con fdent and, hopeful. The news over night of rise in wages of workers for
 number of the independent steel con-
 panies was taken ase confirmatory of improving conditions in the trade The good impression of metal trade condi- tions was added to by the May statis- tics of the copper producers a:ssocia-
 ton. published during the day, The copper industrials made only moderate response to this showing. A decline in
 the price of copper warrants in the
 London market was an offsetting influ- ence. The introduction to trading on
 the stock exchange of contracts for the new Atchison convertible bonds when issued was made the occasion for a bullish demonstration in Atchson stock. The reports of crop conditions were regarded favorably. There was some apprehension expressed in stock market circles that the recent course of litigation against the American Sugar Refining company and the agita-
 tion for prosecution by the federal gov ernment under the antitrust law might revive anxiety on the part of investors in corporations and prejudice
 the movement to attract foreign capital Into tlem- Ine nrmef tone or the
 money market was of only slight deter
 rent effect on the speculation in stocks.
 Plates for call loans ranged from two per cent to above that figure. The
 banks of England. and of France made
 very strong returns today and the dis
 count rate declined in Paris while the
 Paris cheque on London advanced. A
 relaxation ip the pressure On New York for gold is thus indicated. On the
 other side, however, a fall in New York
 exchange at Chicago to par compared with B cents per s1,000 premium a week ago shows an ebbing of the flow of currency to New York and gives the premonition of coming require
 ments for the movements of the coun-
 try's crops. The irregularity of the
 market increased as the day advanced.
 Bonds were irregular. Total sales. par
 value, S6gt10D00 United States bonds
 were unchanged on call