Norwich bulletin., 1910-01-14
FALL IN PRICES CHECKED. Closing of the Rock Island Iucident
 Brings Sense of Relief.

1 New York, Jan. 13.-There was fur | ther intermittent liquidation of stocks l today and some fa1se blocks were | thrown upon the market in the periods 1 while the selling was active. The mar ket was not without evidence of sup
 port and rallied with good show of re-
 sistance to the pressure. The support CTS of the market seemed satisfied to have checked the fall in prices and were not in aggressive mood to push an advantage against the short i'm terest. The formal announcement to
 the stock exchange of the action taken by the board of governors in suspend ing the members of a prominent firm
 for operations in connection with the Rock Island episode on. Dec. 27 last
 was accepted as closing that incident and a sense of relief was experienced
 on that account. There appeared to be
 some relief also that the scope Of the disciplinary measure had not been
 wider and more severe. The outcome or this case and changes announced today in the officers of the Rock Island
 companies were held to offer explana-
 ton of some of the recent liquidation
 of stocks or to confirm the impression
 of its sources which have been felt for
 some time. Disclaimers Of the sfgnifi-
 canoe of these events did not detract
 from their influence on opinions. The
 assumption seemed warranted that ex-
 FenSiVe transfer of stock holdings had
 been under way in preparation for the
 changes which have occurred. A mo-
 table feature Of the days financial de-
 velopments was tfe general but de-
 layed relaxation in money markets. In
 New York the call loan market showed
 growing abundance and there was an
 overflow effect in the time loan depart
 naent, where rates were shaded under
 the offerings of additional supplies. Large sums are coming to this center from interior points and heavy re-
 demptiOns of bank notes are included
 in each days sub-treasury operations.
 with corresponding gains in the cash reserves of the banks. The extensive liquidation which has occurred in the stock market has contributed to in crease the loanable funds of the banks and the cotton market liquidation yields additional supplies. The inf1u- ence- of this on the speculative demand for stocks proved moderate today, but the resources thus assured for coming new capital issues make a. reaSsuring factor in the situation. The decrease of 26,000,000 in the value of this country's December exp1Fts of agri- cultural products compared with De- cember of the previous year helps to explain the persistent str ength of the foreign exchange market, although the enormous exports of cotton in Decem- Der of 1908 throw the comparison out of the normal. The foreign exchange market showed strength again today which was not fully maintained during the day. Publication of the text of the proposed federal incorporation bill afforded material for discussion on the part of stock operators slrid kept alive the topic of governmental l intervention in corporation affairs, o.n which spec uiative sentiment is sens five The as- sertfon of support for prices gained influence with the progn ess of the day and there was less hesitation in the upward movement toward the last. Final prices were higher generally than last night. Bonds were irregular To- tai sales, par value, s3Ist5o, 900. United