Norwich bulletin., 1910-01-20
ACTIVE RALLY AT CLOSE.
Collapse in Hooking Coal and Iron Had
 Unfavorabie Influence.

| New York, Jan. 19.-Those concerned | in the stock market had their attention | diverted today from general causes af- | fectfng values to those having to do | with purely speculative causes. The | collapse in Columbus and Hooking Coal | and Iron affected the market in much | the same way as the Rock Island epi- | sode in the market of December 27, and gave rise to the question whether in vestigation and discipline by the stock
 exchange authorities were to follow as ! in the Rock Island case.
 The activities of a market pool in the I Hooking stock have been notorious for months, in the course of which ven- 1 turesone bear traders attempted to ! profit by the evidence of imitation in the price of the stock by short deals. So perfect has been the control of the stock by the pool that they were able to mete punishment to the bears as oft time further the project of advancing g the market quotation for their holdings. How little genuine demand existed for the stock at the price attitudes to which 1t had been lifted was the strik- ing demonstration of it's action today, when bankers called loans from the holders and left them obliged to mar ket their stock for what 1t would bring. The collapse to 25 compared with ST IA for the last price yesterday and 92 1-2 last week, represents a suddenness of def1ation rare in the history of the New York stock exchange.
 The sympathetic effect was particu- farly severe on stocks open to any sus- picion of having been treated in a similar way in the course Of rapid ad- VanceS In their market quotations. The most fragrant examples were found in the list of so-ca11ed specialties usually obscure, but made prominent through the instrumentality of market organ ization and manipulation. There were ket that did not escape the unfavor- able inference to be drawn from the days principal episide. There was a noticeable tendency, in fact, to point ods pursued in a wide field of specula- tive endeavor through the Inpaign which was waged last year in the stock market.
 The violence Of the fall fin prices. in itself gave rise to many runors, al- though these were advanced in eX- planation of the decline. So consider able shrinkage in values never occurs without causing fears of financial diff faculties. The announcement during the day of two stock exchange failures, directly due to the collapse in Hooking Coal, naturally stimulated the spread mors had to do with the supposed re- venges of powerful capitalists being wrecked upon one another by fostering the fall in values of stocks. Such sto- ries shaped themselves with most fa- cility against the newer figures in the field of finance. The assertion that ob- stacles were being opposed to some vaulting ambitions which threatened to interfere with the dominance of older figures was heard, this means being taken to clip the wings of aggressive new aspirants for share of financial powers.
 The course of events during the day encouraged the bear party to extend their operations and made them very bold in their raiding tactics. The final selling movement in the last hour gave special evidence of professional bear origin, and the very active demand to cover shorts and the vigor of the clos ing ralll were convincing of the fact.
 The opening market gave good prom ise of advancing, helped by foreign buying of stocks induced by the better feeling created in English financial cir cles by the days news from the cleo tiCns in prngress. The stocks of the standard railroad companies, especially some of those which have been most depressed lately. showed resistance for 9 time to the weakness, but were the