Norwich bulletin., 1910-04-30
FINANCIAL AND COMMERCIAL.
CALL LOAN RATE RUNS OFF To Lowest of Week-Stock Market
 Benefits by Corrective Measures.

New York, April 29.-The stock
 market today felt the benefit of the
 corrective measures which have been
 applied to the weak points in the sit
 uation. The effect of those measures
 was especially notable in the money
 market, where the call loan rate ran
 off to the lowest of the week, con
 trasted with the seven per cent. rate
 of yesterday, the highest since the first of the year. As today'S loans on
 the stock exchange carry over until Monday, this rate represents the end
 of the month condition, the conflict
 with the May settlements not being sufficient to keep tl1eerate up. An i'm portant factor in this was the cotton market settlement. the heavy notices on May contracts being taken care of by the bull leaders in that market. The amounts recalled from the stock market for this purpose are believed to have been very large and to ac- count for much of the furry yester- day. The settlement demonstrated the strength of the bull position in coNon ton of the shorts in May cotton; a position that does not leave the stock market free from some apprehension of a reflected disturbance
 Estimates of the weeks currency movement showed a substantial in flow of cash from other points and a corresponding relief from the drains of the weeks gold exports and sub treasury operations The sum total Of these withdrawals reached the i'm posing figure of $17,25S,000, but this figure promises to be reduced to the neighborhood of S10,000,000 by the weeks inflow from other points. The publication of these estimates had it's part in the easier tone which de-. veloped in the money market. There was material decline also in foreign exchange rates. Confidence is grow ing that. with the actual adoption of Prsfs fsc3, ,f<,I, plished today, the London money mar ket will find itself amply prepared to meet the special requirements in volved. The thorough recuperation to such preparedness. During the day the sale was announced of block 0R rafiroo6 bonds which are to be placed partly in France and partly in Germany.
 A strong influence was felt from the report that theswestern railroads have notified the interstate commerce commission that they will file scfed- ules of increased freight rates next Monday. March reports for some of the largest of the western systems, including the Union Pacific, published today, show so heavy an expansion in operating cost as to overbaIance the gains in gross earnings and thus es- tablish material reduction in net earnings from March of last year. The spreading movement for advance of wages emphasizes this tendency of railroad finances and the interest of in an increase in com pensation for transportation. This factor was notably effective in the ease of St Paul, although the whole rail- road list responded.
 Aside from this, the news offered nothing to change the business out look materially. Iron sales continued light. Concessions were made again in the prices for copper. Railroad equip ment companies. it was said. noted a decline in demand. which. in the case of freight cars amounted to but fifty per cent in April of the orders re- ceived in March
 Bonds were irregular. Total sales, par value. $2,912.08O United States Tours registered declined Is per cent. in the bid price