Norwich bulletin., 1910-11-10
FINANCIAL AND COMMERCIAL,
SELLING TO TAKE PROFITS.
Had Acute Effect on Prices, 8 ia Points
in Some Leaders.

New York, Nov. 9.--Tyhe stock mar
ket today turned its back on the re-
suits of the election with characteristic
preference for future over-haste irfiu-
ences as a field In which to search for
motives on action. The demand, which
IL was hoped would be stimulated by
the passing Of tsls elections, failed to
matcrialize, end selling to take profits
had to be done on descending scale
OF prices in consequence. The accu-
mutation by spectators in anticipation
of this hoped for demand has been on
a large scale for several weeks past,
continuing almost UP to the actual Pc
rod Of the election. The amount of
profit taking sales was correspouldine1y
large and the effects on prices acute
crossed F1riai declines reached from
to Ii points for leading stocks.
Turning from the elections and look
ing ahead. there were found several
matters of disouieGade wlnich had their
part in pushing the selling movement
The passing OF the dividend on Sloss-
Sheffield Steel and been looked for
ward to for sonne time past, and the Of
ficials of the company had as part ex-
PLANTATION an accident to apparatus
which had embarrassed operations. The
minor part allowed in the, explanation
of the existing depression in the iron
market and the accumulation Of pro-
duction did not prevent due considers
ton of that subject in the stock mar
ket Its point was sharpened by the
belief that tomorrow will see a report
from the United States Steel corpora
ton of the tonnage Of untitled orders
on hand on November LIST, which will
carry a lower figure than any state
ment ever before issued by the cor
poration.
The effect was to obscure the conf
dence in improvement in the steel
4v-. fDI, Raa
tered in connection with the specula.-
tion for the rise in stocks. A doubt
took shape whether the demand for
material from the railroads would take
ON large proportions while the ques-
ton of higher freight rates is still
open. The problem of enlisting capital
took on more Importance, with a sur
Yey of the heavy requirements upon
world markets.
The taking of a strike vote by loco
motive engineers. of western railroad
lines directed renewed attention to an
other source OF embarrassment con-
fronting tile railroads The expiration
of the term of agreements with rail
road employees OF various classes with
ing the next few months will precipi-
tate this subject into the field of active
factors. The passage through New
York streets of express wagons escort
ed by policemen, on account of the
strike, gave the subject of labor trou-
bles more vivid force in shaping stock
market sentiment.
The German potash law was a spe-
cific cause for the weakness of the fer
tiizer stocks. The granting of higher
freight charges in souts1eaS stern terri
tory by the interstate commerce COM
mission was equally specific in
strengthening tho southern railway
stocks
Call money went no higher than
1913 per cent. and yielded to below
per cent but time money rates were
firmly held. The foreign. exchange mar
ket was firrner at higher rates.
Bonds were irregular. Total sales,
par value, $21370O0 United States
bonds were unchanged on call