Norwich bulletin., 1909-11-30
FINANCIAL AND COMMERCIAL,
MARKET AFFECTED
By Suggestions of Reopening the
 Tariff Question.

New York, Nov. 29.-A struggle against the forces of reaction was per ceptible in the stock market specu- lation today, which was aided by a few points of positive strength. The sentiment was overshadowed, however by the lowering prospect of the ap- preaching session of congress and the fears of the legislative programme on the trust problem. Suggestions of a reopening of the tariff revision ques- tion at the coming session also had their effect. In the light of the Stan dard Oil decision and the serious con- sequences for corporations involved ir the governments powers there affirm ed, further procedure in the direction of combinations is made a matter o1 grave consideration. The copper grouI continues to reflect most closely the nnutuations of feeling on the subject owing to the advanced stage to which the project for consolidation of cep- per producers had reached, and the ap- parent continuance of efforts to find a way to carry out the project without contravention of the principles laid down in the new interpretations of the antitrust law. Rumors- current about the stock exchange as to the prospects of success in these efforts vary from day to day and almost from hour to 
 prices in that group which result have bad effect on the whole market. The market for copper metal is almost as much upset by the changing reports on the subject. A violent decline in the price of copper warrants occurred in the London market today. The demand from consumers, which was stimulated when an agreement to restrict produc- tion seemed imminent, is restrained O in and fha whnla n consequence. The vicissitudes of the prosecution of the American Sugar Re- fining company were reflected in the fresh liquidation in that stock today down to 116 5-s, the lowest price level of the year. This was accompanied by reports of an undesirable promi- hence to be given the company's af- fairs in the forthcoming presidential message, with the chances of a con gressional investigation looming be- yond. Wall street opinion looks fol possible effects from such an investi- gation similar to those which followed the insurance investigation, and ner- vous feeling becomes manifest when ever the subject comes to the surface Another restraining influence on the speculation is the belief that the time for relaxation of the money market may be deferred. The continued with drawals of gold for shipment both tC South America and to Canada are sig focal gold supply by London bankers This is ascribed partly to the maturing of loans from foreigners to New York borrowers and which are called fol payment instead of being renewed The official announcement of measures designed by the British government tC care for revenue requirements after the coming rejection of the budget by the house of lords is awaited with interest and some anxiety in all financial mar kets. The amount of government bor- rowing which will be necessary cannot be estimated until this statement ap- pears. In our own money market fu- ture requirements are becoming de- fined New York city will sell $12,- 500000 corporate stock on Dec. 10; first installment of subscription to Pennsylvania stock will call for SPA S00,000 on Dec. IS; on Dec. 20 the call for $12,500,000 installment, while for January the S44,69S,00O of New York Central stock and $10,230, 900 or account of Missouri Pacific convertible bonds must be provided for, besides other smaller issues already announced and more expected. The sprofessiona bear party grew rapidly in the course of the day and found the market in creasingly vulnerable as the attacks gained in boldness The result was g closing in some disorder with prices rapidly declining and showing losses from one to three points and more all through the list. Bonds were irregular Total sales, par value, s4,155,0o Unit ed States coupon fours declined one- quarter and the registered three eighths per cent.